Business Accounting Software Pros and Cons

Business Accounting Software Pros

  • With accounting software, the chance of human error is less likely. All accounting software tools are extremely accurate (provided you enter the right information).
  • By using business accounting software, you’ll be able to save countless hours over the lifetime of your business. Your financial reports are totally automated.
  • If your business needs to invoice customers, you can customize and send them out with your accounting software. This’ll help you get paid faster!
  • No more calculating on your own because most accounting software automatically calculates your financials for you.
  • With the built-in expense tracking, accounting software is extremely useful for keeping an eye on where your money’s going.

Business Accounting Software Cons

  • Since many of the accounting software tools are web-based, an internet connection is required. Even the ones that aren’t cloud-based need web access from time to time for syncing purposes.
  • Accounting software most likely won’t be the ‘end-all’ for keeping finances in check. It’s likely that you’ll still need an accountant depending on the nature of your business.

Which is the Best Accounting Software?

There are a lot of different accounting software options in the marketplace. The best accounting software is the one that serves your business needs best. Based on our hundreds of hours of research reviewing all of these companies, this list we've put together for you above should give you a good idea of which small business accounting software will be best for your particular business. If you want to get a more complete picture of the tools that interest you, read our full reviews or sign up for free trials to the ones that interest you.

In general, we prefer FreshBooks due to their easy to use software and great customer support. They’re one of the best accounting software tools available for entrepreneurs in most fields. It's flexible, powerful and affordable.