5 Best Online Bookkeeping Softwares in 2024

Octa Accountants

Reading Time

7 Min Read

Publish Date

Mar 5, 2024

Blog Category

Bookkeeping Tips

Looking for the best online bookkeeping software for your business? Here’s our list of top bookkeeping softwares that you may want to have a look at before choosing one.

But first let us explain why do you need a bookkeeping software? Switching to online bookkeeping has a lot of advantages and with more and more businesses going digital there has been a shift towards online bookkeeping softwares which are not only much more efficient and accurate but also way less time consuming for small businesses and start ups that already have millions of things to take care of. Managing finances can become overwhelming which is why online bookkeeping provides real time financial information with unmatched ease of access. With long term savings online bookkeeping is a flexible option. With improved compliance and enhanced security through integrated tools and applications it can provide data driven insights into the finances of your company in no time.

1) Xero
Best for Integrated Add-Ons and SMEs

xero accounting software

Contrary to its name Xero is indeed a leader in bookkeeping software. If you are a new budding business then Xero will lure you right in with its user friendly interface. It is one of the best cloud based accounting software for small to medium sized businesses. Without a hassle Xero will simplify all your bookkeeping tasks with only a few clicks. With over 3.95 billion subscribers Xero has also partnered up with Forbes Advisor. 

Features:

Pricing:

Xero provides different price plans to choose from based on your budget and business requirement. They usually range from $15 to $ 78 per month. They also offer a free 30 day trial. The trial lets you access all features of Xero for 30 days free of cost so you can decide which plan suits you best. Visit Xero’s pricing to know more!

Pros:

Cons:

2) QuickBooks Online
Best for Businesses of All Sizes

QuickBooks Accounting Software

QuickBooks, developed by Intuit, is one of the leading online bookkeeping & accounting software choices for small to medium-sized businesses. It comes in various versions tailored to different business needs, including QuickBooks Online, QuickBooks Desktop (Pro, Premier, and Enterprise), and QuickBooks Self-Employed. Their services stand out because it’s easily customizable, comes in multiple versions with hundreds of add-on apps, and offers better mobile access than most rivals.

(Read our QuickBooks guide if you need help.)

Features:

Pricing:

QuickBooks offers a free trial for 30 days with an option to buy now for 50% for three months. It has four different plans Simple Start, Essentials, Plus and advanced ranging between $15 to $100 a month. You can also upgrade between QuickBooks Simple StartEssentialsPlus or Advanced.

Pros:

Cons:

3) Zoho Books Online
Freemium Bookkeeping Solution

Zoho Books Accounting Software

Zoho Books is one of the most comprehensive online bookkeeping software on the market meeting all your basic needs: send invoices, reconcile accounts, track expenses and generate reports. Zoho Books is a strong contender in the accounting software market, particularly for SMEs looking for a comprehensive, user-friendly, and cost-effective solution. If you have less than $50,000 per year in revenue, you can sign up for the Zoho Books Free plan. It gives one user access, enabling them to manage clients and invoices, create recurring invoices, import bank and credit card statements, and track expenses and mileage.

Features:

Pricing:

Its Standard plan comes with even more support options, custom fields, reporting tags and bulk updates for $15 per organization per month, billed annually. Its Professional plan costs $40 per organization per month (billed annually), and includes bills, vendor credits, purchase approval, stock tracking and price lists. The Premium plan is $60 per organization per month (billed annually) and comes with a custom domain, vendor portal, budgeting and validation rules.

Its Elite plan is $120 per organization per month, and includes forecasting and multi-currency handling. For $240 per organization per month, its Ultimate plan includes advanced analytics and 25 custom modules.

For more information, visit Zoho Books’ pricing.

Pros:

Cons:

4) Sage 50 Cloud Accounting
Best for Larger Businesses

Sage 50 Cloud Accounting Software

With an easy to use, secure and customizable cloud bookkeeping system Sage 50 is there to assist you whether you are a freelancer or a medium sized business. It’s the most comprehensive accounting program. 40+ years of being in business and with over 40,000+ partners sage has three categories for medium and small sized businesses which include sage business cloud for accounting finance and payroll, construction and real estate, and business management. These are further categorized into industries and business needs.

Features:

Pricing:

Sage offers a variety of accounting and bookkeeping products, each with its own pricing structure, which can vary by region and specific business needs. Sage 50 offers three packages: Pro Accounting for $58 per month, Premium Accounting for $96 per month, Quantum Accounting for $160 per month. Sage is the pioneer in giving finance leaders the insight to take action.

Pros:

Cons:

5) FreshBooks
Best for Sole Proprietors & Service-Based Businesses

FreshBooks Accounting Software

Introducing the most easy to use accounting and bookkeeping system, FreshBooks is the ultimate accounting and invoicing tool. The software is designed for small business owners who don’t have an accounting background. Besides its primary plans, it also offers a custom plan with custom pricing for businesses with complex needs.

Features:

Pricing:

If you have five or fewer clients, you can sign up for FreshBooks’ Lite plan for $19 per month. The plan includes unlimited expense tracking, unlimited estimates, accept credit cards and bank transfers, track sales, see reports and send unlimited invoices to up to five clients.

With up to 50 billable clients, pay $33 per month for its Plus plan. This comes with unlimited invoices to up to 50 clients, everything in the Lite plan, plus recurring billing and client retainers, business health reports, double-entry accounting reports, invite your accountant and track mileage via your mobile.

Its Premium plan is $60 per month for unlimited billable clients and invoices, track bills, bill payments and vendors with Accounts Payable, track project profitability, customize email templates and email signatures and more.

Visit FreshBooks’ pricing to know more!

Pros:

Cons:

In a Verdict

These are the best online bookkeeping software according to our expert accountants. But be sure to evaluate features, pricing plans, scalability, user reviews, and customer support to find the best fit for your needs and budget.

In case you can’t manage software by yourself because of time constraints or complex processes, hire a professional accountant from us.

We here at Octa Accountants believe in innovation and tech-driven approach to help entrepreneurs achieve their goals with Dedicated Bookkeeping & Accounting, VAT Registration, Virtual CFO, Audit & Assurance and many more services.

So say good bye to hours of manual calculations and spreadsheets! Book a free consultation with us today and streamline your finances. 

About Us

Octa Accountants is a one-stop accounting firm that offers a wide range of finance management services.

Follow Us

Have a question?

Do you have any questions? Feel free to reach out to us.

Our Blogs

7 Best Blogs For Accountants To Follow

7 Best Blogs For Accountants To Follow

It’s not easy to find reputable sources of information in the field of accounting. Therefore, we have compiled the list of best blogs for accountants to follow. Read now to get the right sources of information for your profession.

5 Best Online Bookkeeping Software 2024

5 Best Online Bookkeeping Software 2024

Managing bookkeeping successfully is essential to get accurate financial understanding of a business. And the online bookkeeping software can make this job a whole lot easier. Read our list of 5 Best Online Bookkeeping Software to choose the right one for you.

How to calculate VAT?

How to calculate VAT?

Calculating VAT can be a complex process for most people. Here’s a complete guide that tells you everything you need to know to calculate VAT efficiently!

Leave a Reply

Your email address will not be published. Required fields are marked *