Choosing a Good Accounting Software

Accounting software has really upgraded in the last 15 years, but choosing the right one is still confusing. Here are three bookkeeping programs we recommend.

Not sure which accounting software you should use for your business? Many business owners struggle to select finance software due to the complexity of these programs. We have some recommendations: QuickBooks Desktop, QuickBooks Online, and Xero.

QuickBooks Desktop

QuickBooks Desktop is available in several versions tailored to different business needs: Pro Plus, Premier Plus, and Enterprise. Each version offers robust features for accounting, including advanced reporting, inventory management, and job costing.

• Pro Plus: ~$549.99/year

• Premier Plus: ~$799.99/year

• Enterprise: starting at $1,740/year

Notably, Intuit announced that new subscriptions for QuickBooks Desktop will no longer be sold in the U.S. after July 31, 2024, though existing users can continue their subscriptions.

QuickBooks Online (QBO)

QuickBooks Online is a cloud-based accounting software ideal for small to medium-sized businesses. It provides extensive features like invoicing, expense tracking, inventory management, and integration with over 650 third-party apps. Subscription plans range from $30 to $200 per month.

QuickBooks Online also offers QuickBooks Live Bookkeeping, which provides businesses with access to professional bookkeeping assistance.

Xero

Xero's cloud-based software is growing in popularity in the U.S. Xero boasts very loyal customers who enjoy the program's user-friendliness, price, and excellent customer service.

Pricing ranges from $15/month to $78/month, with substantial discounts for new buyers:

• Early: $15/month (limits to 20 invoices and 5 bills/month)

• Growing: $42/month (unlimited invoices and bills)

• Established: $78/month

Xero includes a 30-day free trial for new users.

Conclusion

While Xero excels with its unlimited user policy and comprehensive feature set, QuickBooks offers more flexibility in invoice customization and a broader range of versions. The choice will depend on your business's specific requirements, budget, and preference for cloud-based versus desktop solutions.