Core functionalities include general ledger (GL), accounts payable (AP), and accounts receivable (AR). Additional functionalities extend to processes like bank transactions, purchase orders, payment reminders, and payroll service. Zoho Books is known for its scalability, with plans ranging from a free version to more advanced options for mid-sized enterprises. Each plan includes a certain number of users, with the option to add more for a small fee, making it competitive in terms of price and user access. Though the lower-level plans are limited in terms of inventory control, the Standard plan includes 10 custom reports and up to 5,000 invoices per annum.
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All the core bookkeeping features are there, including projects, time, and inventory tracking. These are easy to use once you get used to the amount of information and input fields on each page. There’s a budgeting feature where you can set limits for the accounts you choose, and even include asset, liability, and equity accounts in the mix.
- For example, the “savings account” report has a button that prompts you to import a bank statement, while the “checking account” report offers a button prompting you to reconcile any unreconciled transactions.
- Once you’ve sent your invoice, you can then track invoices to ensure they’re paid, run reports that show the age of each outstanding invoice and apply invoice payments to specified transactions.
- Accounting software helps small business owners track their financial accounts, income and expenses, prepare for tax season and keep tabs on financials easily.
Some say they have experienced delays in product functioning, specifically when working with large data sets. Are you looking for the best accounting software for small businesses? Need something easy to set up and use that still has all the features you need to get things done? Looking for affordable, flexible, scalable accounting solutions that grow alongside your business? The most important thing when choosing software for accounting is matching it with your business needs. Are you looking for automated tracking and reporting that saves you as much time as possible?
For example, I could immediately use the search bar across the top of the screen to search my documents by keyword. And when I clicked “filter” at the top of the screen, a drop-down menu appeared that allowed me to filter the documents stored by what is the difference between date added, source, folder, keyword search, category or date. Further, another “item type” button offered more filter options when clicked.
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Overall, they have mixed feelings about its affordability for small businesses and the quality of its customer service. Many complain that the software needs more bank feed integration options and customization options. Xero is one of the most popular accounting software for small businesses, offering all the features you’d need.
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Unlike some competitors, none of Zoho Books’ plans put a limit on billable clients, and even its free plan lets you send up to 1,000 invoices per year. On top of that, the free option offers a customer portal, automatic payment reminders, mileage tracking and the ability to schedule reports. Higher-tier plans let users automate workflows and track project profitability, and give access to advanced inventory and analytics tools. It offers cloud-based solutions, ensuring that businesses have access to their financial data wherever they are.
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In addition, call-to-action buttons helped me know what I needed to do to customize the platform to my needs, such as adding a bank account or filtering reports. It also offers strong budgeting functionality to assist with financial planning. All of these features combined make NetSuite a very capable option for businesses of a suitable size. That said, it’s not a trivial investment and implementation does require specialized expertise to configure it optimally for each unique client situation.
After saving the invoice and accessing it under the “unfiled” menu option, I encountered an issue. Unlike clicking on other document types, such as receipts, I was unable to send the invoice directly from the platform or export it to send it through my own email inbox. Still, I could at least right-click on its listing in “unfiled” documents and move it to a folder of my choosing, allowing me to save it as an expense I could refer to later come tax time. In addition to offering accounting features, ZarMoney offers a robust cloud-based inventory management solution. Using this system, you can track the inventory status of all warehouses within your company, analyzing each location’s product status and sales and purchase histories.
Besides its primary plans, it also offers a custom plan with custom pricing for businesses with complex needs or large client bases. Zoho Books is a cloud-based accounting software with a simple user interface and solid functionality for invoicing, inventory, and project management. Zoho Books is best suited to small and medium businesses looking for an alternative to the enterprise-level software available. It also offers scalability through its several tiered plans, though the lower-cost options limit your functionality. Zoho also provides several avenues for customer service, making it simple to get the support you need when using the platform.