The Best Small Business Accounting Software in 2024: Review and Comparison
In the ever-evolving landscape of small business management, having the right accounting software tailored to your specific needs is paramount to success. With different types of desktop accounting software for small business coming out every day and promising lucrative features, it can be a hard task to stay focused. While making the decision, you must make sure the accounting software you are purchasing is compatible with your existing system.
Research indicates that three-quarters of large U.S. firms now use Apple-based digital products in their operations. However, small businesses are not far behind. More than 57.8% of small and medium businesses (SMBs) are ready to integrate Mac-based systems into their workflow.
As a result, the demand for efficient, Mac-compatible accounting solutions continues to rise. Small business owners using Mac systems are seeking intuitive and feature-rich software to streamline financial processes, from invoicing to expense tracking. In this blog post, we delve into the realm of desktop accounting software for small businesses designed explicitly for Mac users, conducting a comprehensive review and comparison of the top contenders in 2024.
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In an era where efficiency and accuracy are paramount, the right small business accounting software for Mac can be a game-changer for small businesses. It’s not just about balancing the books; it’s about leveraging technology to optimize financial workflows, enhance reporting capabilities, and ultimately drive strategic decision-making.
The current market, however, is practically saturated with an overwhelming number of accounting software options. But how do you choose the right one for your business? Which software can give you the best value for your money? Which one has the best features to enhance your business processes? Where would you find the best deals? These are some of the pressing questions you must ask before you make a decision. And as expected, it would require thorough research on your part because you need to choose a small business accounting software Mac users will benefit from—not just any accounting software!
To save you the hassle, we have carefully curated a detailed comparison of the best small business accounting software for Mac. All you need to do is read the reviews carefully and figure out which software fits your needs perfectly. And then, subscribe and enjoy flawless accounting and bookkeeping services to grow your business further. So, without further ado, let’s jump in.
Table of Contents
1. Wave
Overview
Wave is the best software for business owners, like sole proprietors and freelancers, who need an online accounting service and may want a little room to grow. Integrated payroll and double-entry accounting support make it a potential option for small businesses with a few employees, though there are better choices for those companies. And because it has a simple user interface, even financial novices could use it.
Review
Wave is one of only two online accounting services that you can use for free unless you need payroll and payments, which you do have to pay for. Wave follows standard accounting rules and is especially skilled at invoicing and transaction management. It’s one of the cleanest, most understandable business services available. It supports multiple currencies and has a smart selection of features for very small businesses. It doesn’t have a dedicated time-tracking tool, comprehensive mobile access, or inventory management, though.
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Verdict: Best for small businesses with less than 9 users.
2. Zoho Books
Overview
Zoho Books is a smart online accounting software solution designed to help businesses streamline their back-office operations, automate business workflows, and securely collaborate with accountants online. It is designed for all business sizes, from small businesses to large enterprises, and can be used by service, consulting, and marketing companies. The accounting solution offers a range of features, including cash flow management, invoicing, one-off or recurring invoice generation, balance sheet management, inventory management, purchase order management, expense tracking, automated workflow creation, and much more. While it’s at least as capable as some of the best of its competitors, Zoho Books is surprisingly affordable, and it even has a free version.
Review
Zoho Books is the small business accounting element of Zoho’s ecosystem of productivity applications. Your accounting data can be tightly integrated with numerous related apps and functions, like CRM, customer service, and email. Zoho Books’ usability, flexibility, and depth in standard bookkeeping areas (sales and purchases, time and project tracking, and inventory management) equal and sometimes surpass what’s offered by competitors. Overall, Zoho Books is best for businesses that use some of Zoho’s other applications, but its appeal isn’t limited to such cases. We also recommend it to small businesses, growing businesses, and established businesses that want its customizability, depth, and usability. That said, the depth of its features might be overwhelming to very small businesses but will be welcomed by companies with more advanced needs.
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Verdict: The best accounting software for large businesses. Small and medium businesses can also benefit from its wide range of features and seamless integration.
3. FreshBooks
Overview
If you are a service-based business, FreshBooks is designed for you. Small businesses could use it for basic money management, like sending invoices, monitoring financial accounts, accepting payments, and tracking income and expenses. More complex companies can add advanced tools that include projects and proposals, mileage and time tracking, and reports.
Review
We recommend FreshBooks, especially for sole proprietors and companies with perhaps an employee or two—though it’s capable of handling more. FreshBooks’ good looks and simplicity are deceptive. FreshBooks is actually a full-featured, double-entry accounting system that happens to offer an exceptional user experience. It has won numerous PCMag Editors’ Choice awards for these reasons. FreshBooks is one of the first accounting options a small business should consider because it’s intuitive enough for novice bookkeepers to learn but supports all the elements that a larger business would need, including payroll.
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Verdict: The best software for business owners looking for a simple yet comprehensive accounting tool.
Overview
QuickBooks Online is a cloud-based accounting solution perfect for businesses of any size. It is the perfect accounts payable software small business owners can leverage to manage their accounting, income, expenses, payroll, and more. No additional software is required as all accounts are viewed via the online login portal, with custom feeds and charts, custom invoice creation, ‘Pay Now’ buttons, and mobile websites, all with auto-synchronization. The native mobile apps for Android and iOS facilitate on-the-go sales receipt capture, expense tracking, cash flow management, account balance tracking, time tracking, transaction review, purchase order management, client communications, and more.
Review
Intuit QuickBooks Online has been the small business accounting service to beat for many years. It puts highly effective accounting functionality into an exceptional user experience. The service stands out because it’s easily customizable, comes in multiple versions with hundreds of add-on apps, and offers better mobile access than most rivals. Intuit QuickBooks Online, however, is expensive, so it’s most appropriate for small businesses with a technology budget. It’s easy enough for an inexperienced bookkeeper to learn but feature-rich enough that a more demanding user can make use of its advanced accounting tools. Because it’s so customizable and user-friendly, it would appeal to a wide variety of business types.
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Verdict: The best accounting software for small business with inventory.
5. Xero
Overview
Xero has emerged as a game-changer in the realm of cloud-based financial management for businesses. Launched in 2006, this New Zealand-based desktop accounting software for small businesses has garnered widespread acclaim for its user-friendly interface, robust features, and seamless integration capabilities. Xero caters to a diverse range of businesses, from startups to established enterprises, providing comprehensive tools for invoicing, expense tracking, payroll, and more. Its accessibility from any device with an internet connection makes it a flexible choice for businesses on the go.
Review
From a user’s perspective, Xero stands out for its intuitive design and user-friendly interface. Navigating through various financial tasks becomes a breeze, even for those without extensive accounting backgrounds. The platform’s real-time collaboration feature is particularly noteworthy, allowing multiple users to work simultaneously and facilitating smoother teamwork. The dashboard provides a clear snapshot of financial health, and the ability to customize reports ensures businesses can extract the precise insights they need.
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Verdict: An ideal solution for businesses looking to scale their operations.
6. Sage
Overview
Sage Accounting Software has long been a stalwart in the realm of business finance solutions, known for its robust features and user-friendly interface. Aimed at small and medium-sized enterprises (SMEs), Sage offers a comprehensive suite of accounting tools designed to simplify financial management. From invoicing and expense tracking to detailed reporting, Sage caters to the diverse needs of businesses. Let’s delve into the features, user experience, and overall performance of Sage Accounting Software in this in-depth review.
Review
The user experience with Sage Accounting Software is marked by its intuitive design and ease of use. Navigating through the various modules is a seamless process, making it accessible for both accounting professionals and those with limited financial expertise. The dashboard provides a snapshot of key financial metrics, allowing users to stay informed at a glance. Creating and sending invoices is a breeze, and the software’s automation features streamline repetitive tasks, saving valuable time for businesses.
Sage’s real strength lies in its robust reporting capabilities. Users can generate detailed financial reports, track expenses, and gain valuable insights into their business performance. The integration of bank feeds enhances accuracy by automating the reconciliation process. However, some users have reported a learning curve when customizing certain features, especially for those transitioning from other accounting platforms.
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Verdict: A reliable and feature-rich Mac small business accounting software solution for small to medium-sized businesses.
7. Quicken
Overview
Quicken, a household name in personal finance management, has established itself as a versatile accounting software solution. Originally designed for personal use, it has evolved to cater to small businesses and freelancers, providing a comprehensive suite of tools for financial tracking and management. With features ranging from expense tracking to budgeting and investment management, Quicken has aimed to be an all-in-one financial hub. This review will delve into its capabilities, ease of use, and overall effectiveness, offering insights into how well it serves the accounting needs of small businesses.
Review
Quicken impresses with its user-friendly interface and intuitive design, making it accessible even for those with limited accounting knowledge. The software offers a robust set of features, including the ability to link bank accounts, credit cards, and investment accounts, providing a real-time overview of your financial landscape. The categorization and tagging options facilitate detailed expense tracking, while the budgeting tools empower users to set and monitor financial goals effectively.
The reporting capabilities of Quicken accounting software are commendable, offering customizable reports that provide deep insights into income, expenses, and overall financial health. The ability to generate tax reports simplifies the tax preparation process, saving valuable time for small business owners. However, some users may find the learning curve steeper when venturing into more advanced features, and occasional syncing issues with certain banks have been reported.
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Verdict: A valuable tool for managing personal and business finances.
8. Oracle NetSuite
Overview
Oracle NetSuite stands tall as a comprehensive and cloud-based desktop accounting software for small business that has gained widespread recognition for its ability to streamline financial operations. Aimed at businesses of varying sizes, NetSuite offers an integrated suite of applications covering accounting, financial management, customer relationship management (CRM), and more. Its cloud-based nature ensures accessibility from anywhere, facilitating real-time collaboration and data-driven decision-making. As part of the Oracle ecosystem, NetSuite brings a robust and scalable solution to the table, promising a holistic approach to business management.
Review
Users consistently praise Oracle NetSuite for its user-friendly interface and the seamless integration of diverse functionalities. The platform provides a unified view of financial data, making it easier for businesses to monitor and manage their financial health. The customizable dashboards empower users to tailor the system to their specific needs, enhancing the overall user experience. Real-time reporting capabilities are often highlighted, allowing for quick and informed decision-making. However, some users have reported a steeper learning curve, particularly for advanced features, which might require additional training for optimal utilization.
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Verdict: Best for global businesses.
9. Melio
Overview
Melio is a cloud-based accounting software solution that has gained traction for its user-friendly interface and robust features tailored for small and medium-sized businesses. Launched with the aim of simplifying payment processes, Melio goes beyond basic accounting functions, offering a comprehensive platform for managing payables and receivables. Designed to enhance efficiency and reduce the complexity of financial transactions, Melio integrates seamlessly with various accounting tools, making it a promising choice for businesses looking to streamline their payment workflows.
User Review
Users of Melio consistently praise the platform for its intuitive design and straightforward functionality. The software provides a centralized hub for managing vendor payments and invoicing, allowing users to schedule payments, track expenses, and automate routine financial tasks. The dashboard’s simplicity stands out, providing a quick overview of pending payments and outstanding invoices. Additionally, the ability to sync Melio with existing accounting software ensures a smooth transition for businesses already utilizing specific accounting tools.
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Verdict: Ideal for businesses with multiple teams.
In the realm of small business accounting, the quest for efficiency and automation is paramount. To achieve this, try testing out some of these highly-rated accounting tools, and for additional help consider tapping into a reputable talent marketplace such as Toptal, where you can hire dedicated freelance CPAs. By leveraging these platforms, businesses can seamlessly integrate the latest accounting tools, aligning with the trends and predictions shaping the future of small business accounting.
As you are looking for the perfect Mac-compatible desktop accounting software for small business, why not do it for all the other aspects of your business as well? To put it in simpler words, business software solutions designed exclusively for Mac-based systems can give you the extra edge that these Mac-based accounting software solutions will provide you. And the best choice in this regard is Field Promax.
Field Promax stands out as the go-to solution for field service businesses operating on Mac-based systems, offering a seamless and tailored experience for managing on-field operations. With its Mac-compatible design, Field Promax ensures that users on Apple devices can effortlessly harness the power of this field service management software without any compatibility issues. The intuitive interface aligns with the sleek Mac aesthetics, providing a user-friendly experience that minimizes the learning curve for technicians and field service personnel. From scheduling appointments to dispatching technicians, tracking inventory, and generating reports, Field Promax’s Mac compatibility ensures that businesses can optimize their field service operations effortlessly, leveraging the power of their Mac systems to enhance overall efficiency.
Moreover, Field Promax goes beyond streamlining field operations by seamlessly integrating with accounting and bookkeeping processes, making it a holistic solution for business management. Mac users can now centralize their accounting tasks on the same platform, eliminating the need for multiple software applications. Field Promax’s accounting and bookkeeping features empower businesses to manage invoices, track expenses, and handle financial transactions with ease. The integration ensures real-time synchronization between field service operations and financial data, providing businesses with a comprehensive overview and enabling them to make informed decisions for sustainable growth. By choosing Field Promax, Mac-based field service businesses not only optimize their on-field activities but also establish a robust system for efficient accounting and bookkeeping.
So, why wait? Sign up now to explore the myriad of benefits of Field Promax.
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