Top Accounting Software

Find the right software for accounting

While you can find free accounting software online, you are better off investing in a professional package if you run a small business. Most free accounting software programs are designed only to meet the most basic of needs.

In professional software for accounting, you should look for features and capabilities including comprehensive customer support, a complete range of basic and advanced accounting capabilities, and a broad selection of individual modules. Some of the modules that may be of interest to you include accounts payable, accounts receivable, payroll, inventory, banking and reconciliation, time billing and cost management.

Here are our picks for the top financial accounting software packages on the market:

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Sage Peachtree Complete Accounting

Description: This small business accounting software package includes a comprehensive cross-section of task-specific modules, each of which offers a complete set of filters and features that give you pinpoint control over the specifics of your accounting entries. Examples of the precision with which you can define accounting entries include the ability to specify inventory locations, complete direct deposits, toggle between cash and accrual accounting, and much more. Users can also generate multiple reports in 10 major categories, and the software is compatible with the Windows 7, XP and Vista operating systems.

Review: If you need a comprehensive professional accounting program, this product is unrivalled in terms of its range and capabilities. In addition to offering excellent accounting support and features, it can also help you manage your taxes, manage customer relationships and deal with your suppliers. Its ease of use and customer support are both top-notch, as are each of the 10 individual modules.

The only knocks against this program are that its conversion and updating features have some limitations, and that it doesn’t give you the option to accompany inventory entries with images. It is also not compatible with Mac operating systems. Apart from these minor flaws, this is a peerless product that is an excellent investment.

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QuickBooks Pro

Description: QuickBooks Pro is an advanced small business accounting software product, replete with features that help you manage accounts payable and receivable, create and manage invoices, track payroll, manage your inventory and much more. The program has an intuitive, easy to use interface and you can add additional modules and features through the online accounting software upgrade option. QuickBooks Pro also offers the ability to quickly and easily import data from other programs and has a handy business creation wizard.

Review: QuickBooks has built a strong reputation as one of the leading accounting software packages on the market, and for good reason. It makes even the most difficult and intricate accounting tasks manageable, even to people who have little or no accounting experience, thanks to its simple interface and comprehensive help features. However, it does have some limitations. The program doesn’t support FIFO or LIFO costing methods, nor is its inventory management capabilities top-notch. On the whole, though this is one of the top packages on the market if you want a product that provides intuitive ease of use.

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Description: Bookkeeper is a relative newcomer. It offers powerful day-to-day business management tools, including check writing, invoicing, cost estimating, inventory management, bank account reconciliation, job tracking, and much more. The program also offers the ability to generate more than 125 different types of reports.

Review: If you are looking for powerful but very affordable small business accounting software, this program merits close consideration. While it does lack some features which are becoming increasingly standard, such as direct deposit payroll management, Bookkeeper cannot be beat for the price. It is a very capable program, though you should be advised that it cannot be accessed remotely, nor can it be installed on multiple machines.