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When it comes to have a successful business, it is important to keep your finances in order. As a result, your invoices are sent on time and paid on time. You can also predict cash flow and have a record of your finances in case the IRS needs to consult them. Fortunately, accounting today is much easier than it used to be. There is a wide range of accounting software for business managers rather than accountants, so they are much easier to understand and have almost no need for time to adapt. There are now services that are directly connected to the cloud, allowing you to monitor your business from anywhere on any device you’re connected to. Fortunately, most of them offers a free trial so you can try before you buy.

You will find below the top 5 accounting software in 2020:

Quickbooks

Quickbooks is an accounting software created in 1983 in the United States. The SaaS solution has nearly 2.5 million customers worldwide. Quickbooks is an online management and billing software dedicated to entrepreneurs and SMB’s. It is both easy to use and complete, it integrates with different applications like: Receipt Bank, Stripe, Business Importer, PrestaShop, iScanner, Pepperi, Easy Transac, etc.

It offers various features: sending quotes and invoices in an unlimited way, managing sales and purchases, automatic VAT calculation, collaboration with the accountant, etc. The solution is certified anti-fraud, also manages all currencies and adapts to the accounting rules of each specific country.

The price varies according to your needs, starting at 8$ to 45$ per user/ Month.

AdvantagesCons
Free Trial AvailableNot suitable to large companies
Detailed Customer TrackingInvoices must to be entered manually in order to be modified
Include a Project Management Feature 
Time Tracking 
Easy to use and easy to adapt 

Sage

In order to facilitate the accounting process, Sage Accounting offers different products depending on the size of the company. The solution offers the possibility of creating quotes, advanced dashboards, as well as managing cash forecasts. There is also the Sage 50 Cloud Ciel solution, which is a simple and quickly operational accounting management software. This tool is paired with Microsoft Office 365, complies with existing regulations and offers secure mobile access. Integration with Office 365 allows secure sharing and data export in Excel, Outlook, etc. For SMEs, Sage offers Sage 100Cloud Accounting software. It contains all the accounting, budgetary and analytical features. It ensures the dematerialization of invoices as well as the monitoring of debts.

AdvantagesCons
It is easy to add members and find the accounts of other peopleServer often overloaded and Sage is no longer accessible
Excellent customer serviceThe upgrade has an extra cost
Free trial AvailableDifficult to import data
Easy to use; little adaptation time neededNot compatible with Mac, iPad or iPhone
Easy to export to Excel 

Zoho Books

Headquartered in California, Zoho Books offers accounting software to small and medium-sized businesses to help them grow and maintain control over their cash flow. After the 14 days of free trial, you can choose between basic ($9/month), Standard ($19/month) or Professional ($29/month), and if you buy the annual package, you get two months free. Even the cheapest package includes bank reconciliation, custom invoices, projects, schedule tracking, expense tracking, sales approval, and recurring transactions.

AdvantagesCons
Good supportNot suitable for large companies
Very affordableLess integration than those offered by the competition
Free trial AvailableNo payroll service
Easy to use; little time to adaptNo budgeting feature
Extension Features Available 
Works in multiple languages 

Wave

Wave is a little different from other options, as it is a completely free software. It was voted “Best Free Accounting Software for Businesses” by several companies. This free accounting software has no hidden fees and has as many features as paid software. Users can expect features such as invoice reminders, instant updates for billing, payroll and payments data, revenue and expense tracking, and more. It is also possible to manage multiple companies in one account and accept payments in foreign currency.

AdvantagesCons
Remains freeNot suitable for large companies
Easy to use – nice interfaceNot suitable for tax management
Good customer serviceSlow Loading Time
Fast SetupNo Cash Management feature
Accepts foreign currency payments 
Customizable add-ons 

Odoo

Odoo is an all-in-one management software, founded in 2015 and suitable for independents and small, medium and large companies. You can choose the apps you need for your business and the price will increase accordingly. The accounting application is $12/month for a user, but you can first test it with the free 14-day trial. With Odoo, you can plan a demo so that your business processes can be audited and your business needs can be analyzed. Time-saving tools include bank timing, easy reconciliation, billing, and invoice and expense management. You can integrate it with other apps, which saves you a lot of time by doing it manually.

AdvantagesCons
Free Trial AvailableFixing a bug may take some time
Easily expandable with more than 7,000 applicationsSupport and customer service are not very qualitative
Easy to useLimited Features
Open sourceHigh monthly costs

Check our Accounting Software Category for more applications.

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