Best Accounting Software For Small Business 2023 – Forbes Advisor

To determine the best accounting software for small businesses, we considered providers in the space and narrowed it down to the top 13 options. We analyzed these across five primary categories for a total of 20 different metrics. These were then weighted to favor features that matter most to small businesses.

Here are the metrics we used to evaluate the leading accounting software companies.

To determine the best accounting software for small businesses, we reviewed the rates for each and compared the price to its feature set to determine each provider’s value for the price. We also considered the availability of long-term discounts, contract-free plans, money-back guarantees, and whether or not there are any hidden fees or added costs. Overall, pricing accounts for 5% of a product’s total score.

Not all accounting software is created equal, but not every business needs the same set of accounting features. Our team analyzed the key features that every business will demand (e.g., expense tracking, reconciliation, reporting) and unique features such as mileage tracking, quotes and estimates that will better suit certain business needs. Features account for 55% of a product’s total score.

We looked at dozens of third-party user reviews to see if the providers live up to their marketing claims. This helped to gauge the quality of each product further and provide deeper insights into what each does well—and where they fall short. This section accounts for 5% of the final score.

Nothing compares to using the products when considering which is the best. We took our own first-hand expertise in the field of accounting and of using these providers to decipher which ones belong at the top of our roundup. The best accounting software is not only affordable and feature-rich, but it is also designed to be easy to use. This helps make adopting the new software easier, while also ensuring that your team uses the software to track, manage and report accounting accurately. The expert score amounts to 35% of the final ranking.