Intuit's QuickBooks Online is our choice for the best accounting software for small businesses due to its feature-rich cloud software, wide variety of integrations, affordable pricing, and reputation. QuickBooks has served small businesses for more than 20 years, and for good reason. When you choose this accounting software, you get all the tools you need to support your operations now and in the future.
Editor's score: 9.4/10
What led to QuickBooks Online being selected as our best pick for small businesses is that even its basic plan has lots of features other vendors charge extra for, including professional invoicing and the ability to accept payments, track expenses, and manage your business's cash flow. QuickBooks' higher-priced plans include batch invoices; business analytics; a dedicated support team; on-demand online training; and integrations with Bill.com, Salesforce, and HubSpot. With all of QuickBooks' plans, you can snap photos of receipts and link expenses from your mobile device, integrate with several apps, and access customer support.
Another aspect of QuickBooks that makes it ideal for small businesses is the ability to connect with a live accountant. Cloud accounting software automates a lot of the tasks, but sometimes, you need the insight of an accounting professional. With QuickBooks's Live Bookkeeping service, you get access to a bookkeeper who sets up the software for you, categorizes transactions, reconciles accounts, closes books monthly and runs detailed reports. Another helpful feature with the service is Cleanup, which QuickBooks rolled out earlier this year. Customers can use the feature on a pay-per-use basis to reconcile historical accounts and categorize historical transactions. Pricing for the live bookkeeping service depends on your needs and requires an initial consultation (which is free) with a QuickBooks representative.
For small business owners who already have a trusted accountant, QuickBooks makes it easy (and free) for them to collaborate with you. The software enables you to invite an accountant who can work on your books for free. All the accountant needs to do is accept the invitation. You can remove access anytime.
QuickBooks offers small businesses of all sizes a full suite of features and functionality at affordable price points, but that's not the only reason we selected it as the best accounting software for small businesses. We also like its reputation and adoption rate. If you work with an accountant or accounting consultant, chances are, they are familiar with QuickBooks. The same can't always be said of other accounting software programs.
QuickBooks Online also offers a spreadsheet sync tool designed to reduce manual data entry and reduce complications that may arise from CSV imports. Users can connect their QuickBooks data directly to Microsoft Excel. This allows them to create customized reports and analyses, and perform bulk uploads and edits. Conversely, this lets users bulk upload and edit transactions from Excel back to QuickBooks.
For this in need of quick cash, QuickBooks' Get Paid Upfront service allows businesses to get advances on unpaid invoices. The new service provides businesses with 97% of the invoice instantly. There is a 3% fee for the service.
QuickBooks recently launched QuickBooks Card Reader, a payment device designed for small business owners that integrates with QuickBooks Payments. QuickBooks said it launched the handheld, contactless card reader in response to a change in the way businesses have been processing payments since the start of the COVID-19 pandemic.
Intuit's acquisition of the Mailchimp marketing platform lets you import Quickbooks data to segment audiences in Mailchimp. Email address, name, purchase history, and more can be used to create marketing campaigns targeted toward a customized audience. Although you will need a separate Mailchimp account, a free version of the service is available.
Intuit has also partnered with DocuSign to enable business owners to sign estimates digitally without leaving the QuickBooks Online platform. Through QuickBooks' new DocuSign eSignature Connector, small businesses can improve their turnaround times for estimates, automate the estimate process, and track progress of a potential contract. QuickBooks said customers can save $36 on average per contract with the service.