What Is The Most Popular Accounting Software

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We sat down with our accountant to create this post when we were researching this topic. We want to give you a complete and honest analysis of what accounting software has to offer for your business. QuickBooks Online is the clear winner and the best for most people. It is considered the gold standard for accounting software and comes with a more powerful set of features. Spend more time running your business and less time manually tracking your expenses with less potential for accounting errors.

What Is The Most Popular Accounting Software

What Is The Most Popular Accounting Software

QuickBooks Online is the most popular accounting software on the market. And it comes with tons of features, including inventory management, billing, progress reporting, automatic mileage tracking, expense reports, automatic sales tax calculations, and more. Subscription plans start at just $6.75 per month.

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QuickBooks Online is cloud-based. Eliminate your money management problems. It’s a virtual accountant when you need it without the cost that comes with taking on one full-time job or maintaining a power of attorney. Plus, it’s as beginner-friendly as accounting software can be.

There are several plans to choose from, starting at just $12.50 per month. This makes it one of the most affordable options out there, even for the smallest of businesses. But, as you’ll see, the program doesn’t use the same useful features.

If you’re tired of compiling spreadsheets, accounts, or bouncing between a gazillion pages of your browser, it’s time to consider accounting software.

It simplifies all your money in the most efficient way, giving you your mind and time. You can stop worrying if you missed something in the last quarter.

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You may be better off working with Excel and Google Sheets. But do you want to stay?

Or, would you rather press a few buttons and run an annual report that counts all your expenses, organizes your bills, and reconciles all your accounts?

You can also set reminders to send invoices and remind clients that it’s time to pay you for the work you’ve done.

What Is The Most Popular Accounting Software

And if you already have an accountant, bookkeeper, or professional, this program makes it easy to add them to the mix.

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You control what they see and what they don’t see. Just give them a chance, sit back, and enjoy how your accounting software enables your finance team to do their job.

Let them run reports, budget calculations, and consolidate transactions in easy-to-read PDFs. Transforming tax season from “Oh no” to “We get this.”

QuickBooks is the most popular accounting software on the market. And it comes with tons of features, including inventory management, billing, progress reporting, automatic mileage tracking, expense reports, automatic sales tax calculations, and more. Subscription plans start at just $6.75 per month.

When it comes to simple accounting software, QuickBooks Online is the best value on this list. It is beginner friendly in every way.

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Plus, as your business grows, there are some plans you can use when the going gets tough.

They belong to almost every financial institution. We searched and didn’t find a single contact they had lost.

In fact, QuickBooks scored highest on our list in nearly every category we tested. Let’s dive into the details:

What Is The Most Popular Accounting Software

You have the option to explore the program with a guided tour or start out on your own.

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When you get started, QuickBooks Online gently holds your hand as you go through the most important business steps, such as linking your accounts, setting up invoices, and adding contacts.

What’s different about the system is that you get a setup diagram so you can see the next step.

If you hover over the item, you can see its meaning. And if you want to go to that part of the dashboard, just click on the circle and you’ll be taken right away.

QuickBooks Online also makes using the program easier than most. It does a great job of teaching you little by little over time, giving you just enough information to use the program to its fullest potential without making recommendations.

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There are excellent video guides and tutorials on every screen. You don’t have to leave the program to learn – just click and you’re on the interface.

Software updates and error notifications prevent you from making mistakes and alert you to errors that require more attention.

This is very useful if you manually make changes to transactions or when balances are incorrect during settlement.

What Is The Most Popular Accounting Software

One last thing to mention is how easy it is to contact the right level of customer support. There are three ways to get help when you need it.

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You can use the 24/7 live chat for frequently asked questions or head to the community forum for best practices and advice.

Or, if you need a more detailed information solution, you can request a call back at your convenience so you’re not sitting around waiting for a rep.

All in all, we could spend a month giving you the details on how easy QuickBooks can manage your money, but we think you get the point. Now, how about setting up your account?

Sync and Reconciliation: 4/5 – QuickBooks offers the most functionality for syncing and reconciling of all the providers we tested.

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There is a button that you click to update your bank feed when you are about to show recent transactions.

QuickBooks offers AI Smart Taxonomy, which takes words and uses them to organize transactions. It learns over time from your transactions and all kinds of things you do on your own.

You’ll never have to worry if your transaction ends up in the right area again. We had to sort about 150 transactions and this feature really helped speed up the process.

What Is The Most Popular Accounting Software

You can also set custom rules for importing transactions so that you never have to fill in any additional information after you check out something.

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After you create a rule, it will automatically be applied to any new transactions that happen in the future, which can help streamline your reporting.

Create as many rules as you want and apply them to everything from incoming to outgoing and which bank accounts to use for what types and types of transactions, such as contract fees, advertising, insurance, and more.

One thing QuickBooks doesn’t do is sync and split your transactions at the same time. It’s completely different. So, when it’s time to reconcile, you need to move to a different dashboard area.

Take care of all ratings in advance, and check for inconsistencies between the listed balances and transactions.

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Then, it’s easy to review and verify multiple transactions and scan receipts to extract information from them.

What’s really cool is that QuickBooks Online goes one step further with receipt scanning. You can extract the information from the receipt to create a new payment in the system and match it to the appropriate transaction from your bank when it arrives, or simply attach the receipt to an existing transaction.

When we tested this feature, we did it twice. Once with a mobile phone receipt and again with a PDF receipt. Both work without a hitch.

What Is The Most Popular Accounting Software

Visibility in Your Books: 5/5 – Quickbooks Online gives you a clear view of your financial activities, with enough customization to gain deep insight into the things most important to your business.

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First, you can use custom transaction tags to add details without actually affecting your books. Break down fees and income by entity, for example, if you operate several different wood planks under one umbrella.

QuickBooks also provides you with instructions on how to use the reports and what they mean. It really helps you understand how to use it.

The entry-level system comes with over 30 reports, including customer profit and loss reports, open invoices, sales by product or service, and sales by customer to name a few.

Overall, QuickBooks does a good job of providing pre-built reports that are really useful and allow you to customize them as needed.

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Plus, it’s easy to bring your accountant, financial manager, or tax professional onto the platform. You can invite up to two different companies.

And if you’re looking for one, QuickBooks makes it easy to find them by giving you access to a comprehensive directory of financial professionals, all vetted.

So, if you’re growing at a rate where you can’t be bothered to balance your books on your own anymore, you can stick with QuickBooks.

What Is The Most Popular Accounting Software

Mobile: 5/5 – This is as basic and reliable a mobile system as any accounting software option we’ve reviewed.

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QuickBooks has been perfecting it for years. It’s great when you’re traveling, working in the field, or if you want to see profit and loss reports while waiting for a croissant at your bakery.

The QuickBooks mobile app does everything the web version does and can handle all of these functions we tested for:

Some providers require you to download additional apps to do all of this. But with QuickBooks, all of these functions are integrated into a single application.

You also get great insight into the overall health of your business.

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