How to Make The Right Decision

If your company has employees, or may in the future be extended for such a merger, you will need a more powerful (and expensive) accounting systems, or even consider custom development to get a scalable system architecture that will contain only those features that you need and will be able to grow with your business.

If your current needs are basic but you are considering future business growth, make sure that any accounting package you choose has a way of adapting to your future needs. In many cases, if a primary product does not have an asset, you can use a third-party add-in to your existing software to meet your needs.

This article contains the most popular small business accounting packages for small businesses, from basic to advanced (and cost) resources. Some are based on online (cloud), some are desktop or online versions, and some are a mix of the two.

Sage One

If you're looking for a basic, inexpensive, cloud-based accounting package, Sage One meets the requirements. The Sage One is built for small business entrepreneurs that need basic revenue and expense tracking. It doesn't include purchase orders, payroll, or billing times, and reports are rare.

In addition to browser access, there are mobile apps for Apple and Android devices. The advantage of using an online application is that the software will always be up to date and you will never have to worry about backing up your data.

Zoho Books

Zoho Books is a signature-based online accounting software that is very popular with owners of small businesses. Billing, estimating, cost tracking, time tracking and bill payment make it the ideal choice for freelancers. Unfortunately, it currently does not include payrolls and is not integrated with third-party payroll applications or services.

All major browsers support Zoho Books and iPhone, iPad, Android, and Windows Phone mobile apps.

FreshBooks Cloud Accounting

FreshBooks is another cheap online solution that is great for billing and basic accounting and is ideal for small businesses and independent service providers. It supports all the most popular web browsers as well as iPhone / iPad and Android software applications.

FreshBooks has a 30-day free trial, after which you can choose one of four monthly plans based on the number of users you need and the number of customers you have. Getting started with the software is easy: Fill out the basic information page about your business and you're ready to go.

Single-user versions include invoices (including automatic billing and payment reminders), estimates, cost tracking, time tracking, and reporting. Integrates with many common payment processors. The multiuser version comes with basic project management, team schedules, and team expense reports.