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The Best Online Cloud Accounting Software Programs
- 1. The Best Online Cloud-Based Accounting Software http://www.entrepreneurshiplife.com
- 2. Why Cloud-Based Accounting? • More companies are mobile – especially entrepreneurs and solopreneurs • Allows access to key company metrics anywhere • Many options allow mobile payment processing • Syncing across multiple devices – desktop, laptop, tablet, phone
- 3. QuickBooks Online Positives • Most robust online accounting software • Solid payroll integration • Lots of additional add-on applications (CRM, etc.) • Intuit – Industry leading company Drawbacks • Price: Cheapest option starts at $12.95/mo, or $155 per year. Cheapest option with payroll is $63/mo
- 4. Freshbooks Positives • Great online invoicing features • Full accounting and payment processing integrated • Allows collaboration for teams • Automatically downloads bank transactions Drawbacks • Pricing is based on number of clients – free version allows 3 clients, up to 25 clients is $19.95/mo, then unlimited clients at $29.95/mo • Difficult to use for some organizations due to reliance on invoicing
- 5. Kashoo Positives • Automation – most automated of the online cloud accounting programs, in terms of downloading form your bank • One of the best “free” levels of accounting software • Native iPad and iPhone apps Drawbacks • No invoicing • Paid level for the “good stuff” starts at $10/mo and payroll processing at $20/mo • No built-in payment processing
- 6. Outright Positives • Great automation (very similar to Kashoo) • Free option is very robust • Best pricing of the companies for paid options Drawbacks • Limits reporting to the paid option (beyond basic profit & loss statements) • Pricing: $9.95/mo – but it is their only level • No payroll or payment processing
- 7. Bean Cruncher Positives • Newest Option – Learns from other competitors • Solid, fast interface • Main dashboard is incredibly useful • Very robust accounting features and reporting Drawbacks • Lack of integrated payment processing and payroll • Price based on customers - $19 for up to 150 customers, $39 for 500 customers, and $99 for unlimited
- 8. Xero Online Accounting Positives • This is the most comparable to QuickBooks (even desktop Quickbooks) • Add-on features like CRM • Integration with accountants and bookkeepers • Excellent training programs • Native apps for iPhone and Android Drawbacks • No built-in payment processing • Price: $19 for 5 invoices per month, $29 for 100s of invoices, and a multi- currency edition for $39
- 9. Top Pick: Wave Accounting Positives • Free • Robust options, including invoicing • Built-in payment processing at a flat 2.9% • Automatic account downloads and integration Drawbacks • Sometimes slow user interface • Would like to see more reporting options