Here’s the Best Accounting Software for Your Business

A business’s industry can quickly narrow its accounting software options. For example, simplicity and cost are key for freelancers and solopreneurs. But if you run a retail business or restaurant? Easy payroll and point-of-sale (POS) integrations matter far more.

Here are NerdWallet’s top accounting software picks for different types of businesses.

Xero has the functionality most small retail businesses need. It has hundreds of integrations and is less expensive than alternatives, like QuickBooks Online. Plus, it doesn’t cap how many users you can add to the system. This is important for retail businesses that need employees to access accounting tools.

• POS system integrations: Xero integrates with popular retail POS systems, like Square and Lightspeed Retail.  

• Payroll integrations: Options include Gusto, OnPay and Rippling. 

• Simple user interface: Online reviews and our own hands-on testing agree that Xero is user friendly, even if you’re an accounting novice.

Promotion: 90% off for six months or one month free.

Pricing: $20-$80 per month.

Restaurant365 is an all-in-one restaurant management platform that integrates with popular restaurant-specific POS systems. If you’re willing to spend extra money for that, it’s a solid choice.

• All-in-one platform: Restaurant365 is a one-stop-shop for accounting, inventory management, payroll and employee management needs. Having these solutions under the same umbrella may help you streamline your workflows. 

• Built for restaurants: As its name suggests, Restaurant365 was created with the restaurant industry in mind. That means you get access to a restaurant-specific chart of accounts and recipe management tools.  

• POS system integrations: Restaurant365 integrates with almost every restaurant POS system you can think of, including Clover, Square, Lavu, Lightspeed, Toast and TouchBistro.

Pricing: Quote-based, but plans used to start at $469 per month.

Freelancers typically aren’t handling dozens of transactions each day. That means they may be able to choose a simpler, less expensive accounting solution. Invoicing tools and mobile accessibility should be your highest priority.

• Customer portal: All FreshBooks plans include a client account portal that lets your customers pay invoices and comment on them.  

• Relatively low price: FreshBooks isn’t the least expensive option by any means. But it’s certainly less pricey than more robust solutions, like QuickBooks Online. 

• Exceptional mobile app: FreshBooks’ mobile app lets you respond to client questions and receive notifications as soon as your clients view their invoices. You can also use it to send invoices and track mileage. 

• Free time tracking: Unlike many of its competitors, all FreshBooks plans include time-tracking tools. This is especially important for freelancers who bill by the hour. 

Promotion: 90% off for four months or one month free.

Pricing: $21-$65 and up per month.

Startup business owners face a lot of decisions before launching. Zoho Books’ all-in-one platform makes choosing business software a little easier. And with its free plan, the barrier to entry is low — even for startups with little cash on hand.

• Free accounting plan: We picked Zoho Books as the best free accounting software for a reason. Its free plan is packed with features, like recurring invoicing, the ability to invite an accountant and auto-scan expense receipts. It also comes with email support. 

• Scalability: Scalability separates Zoho Books from other free accounting software. In addition to its free plan, the company offers five paid plans. In other words, it can support your startup as it grows. 

• Variety of in-house business software solutions: Zoho has in-house solutions for inventory, CRM, payroll, project tracking and marketing. This can help streamline your decision-making process, since you don’t need to consider as many third-party integrations. Just know that Square is one of its only built-in, third-party POS integrations. To connect with other options, you’ll need to pay for Zapier. 

Promotion: 14-day free trial.

Pricing: $0-$275 per month.

Keeping track of side gig finances should be straightforward and simple. Otherwise, the side gig may take up too much of your time — especially if you already have a full-time job. Wave’s basic accounting features fit the bill.

• Free accounting plan: Wave’s free plan lets you accept online payments, enter your income and expense transactions and run basic reports. Its paid plan allows you to invite your accountant and automatically import bank transactions. But if your side gig is very part time, this probably isn’t necessary. 

• Unlimited invoicing: Wave includes unlimited invoicing and billable clients in both of its plans. Competitors, like Xero and FreshBooks, put caps on one or the other in their base-level plans. 

Pricing: $0-$16 per month.

As the industry standard, QuickBooks Online can be a smart solution for any business — including the types listed above. This is especially true for retail businesses looking for an alternative to Xero. It’s also a less expensive option for food-industry businesses like cafes or quick-service restaurants.

• Accountant familiarity: QuickBooks Online is ubiquitous in the accounting world. Chances are, your accountant will be familiar with how it works, so they can help you set it up. 

• POS system integrations: Numerous options, including Square. Restaurant-specific integrations include Clover and Toast. However, those may cost extra. 

• Payroll integrations: In addition to its own in-house payroll solution, QuickBooks Online integrates with Square Payroll, Patriot, Gusto, RUN Powered by ADP and Paychex. 

• POS system integrations: QuickBooks Online offers integrations with Square, Clover and Shopify. You can also sync with e-commerce products, like WooCommerce. 

Promotion: 90% off first three months or one month free.

Pricing: $35-$235 per month.