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Understanding the accounting software pricing for small businesses

January 15, 2022

Understanding the accounting software pricing for small businesses

As a small business owner, keeping a watchful eye on the budget is mandatory. You need to make sure that every penny is invested in the right software. Accounting software is a vital investment that every business must make.

But, how much do you need to spend on it? Well, the answer to that question depends on several factors, such as the size of your business, complexity of business processes, and the features required.

To make things easier for you, we have researched and put together a comparison of the pricing of various accounting software.

Quickbooks

Quickbooks is one of the most famous accounting software brands in the market, and it is priced starting at $20 per month for its basic plan. Depending on your requirements, you can opt for the advanced plan that costs $150 per month.

Freshbooks

Freshbooks is an easy-to-use accounting software that helps small business manages their finances. Freshbooks' pricing starts at $15 per month, which includes features like time tracking, invoice billing, and payments.

Xero

Xero is a cloud-based accounting software that allows you to access your financial information from anywhere. Xero has three pricing plans that cater to different business sizes. The basic plan starts at $11 per month, and the premium plan comes at $62 per month.

Zoho Books

Zoho Books is a popular accounting software that offers features like invoicing, payment processing, and project management. Zoho Books' basic plan starts at $9 per month, while the Standard plan costs $19 per month.

Wave

Wave is a free accounting software that offers all the essential features required for managing small businesses' financials, including invoicing, money tracking, and receipt scanning.

Conclusion

In conclusion, budgeting for accounting software is an essential factor when running a small business. Quickbooks offers a broad set of features and is suitable for medium-to-large organizations. Freshbooks provides a user-friendly interface, along with billing and invoicing features. Xero offers flexibility and is excellent for small businesses. Zoho Books offers a higher-level project management system. If you're looking for a free solution, Wave offers all the basic features required to manage your small business finances.

It ultimately comes down to the needs of your business, evaluating which platform has the features that you precisely need, and then making the best decision. We hope this comparison of pricing helps you make informed decisions about choosing the right accounting software and helps you with budgeting.

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