Accounting software has been essential for businesses since the advent of Enterprise Resource Planning (ERP) in the 1980s. Today, it’s even more critical for startups to make use of the top accounting software solutions in the industry to positively impact their financial structures and streamline workflows. In this blog post, we’ve compiled the top five accounting software solutions on the market to help you make the right choice for your startup.
Here are the top 5 accounting software solutions for startups:
1 – QuickBooks Online
QuickBooks Online is an accounting software that allows businesses to track income and expenses, create and send invoices, manage accounts payable and receivable, generate financial reports, and more. It’s ideal for small to mid-sized businesses but may become unsuitable for scaling. QuickBooks Online offers some integration capability and is compatible with many third-party applications, such as payment processors, e-commerce platforms, and payroll services.
2- Sage Intacct
Sage Intacct is a best-in-class software solution that accommodates rapid growth. It has robust internal control functionality and allows businesses to easily add new entities, departments, or locations to their financial management system as they grow. The software also provides features like dashboard and integrations with third party softwares to stream line the close process and help management analyze business health, and generate reports in real time.
3 – Bill.com
Bill.com is a financial process automation and bill payment service for businesses. It streamlines and digitizes various accounting and payment tasks, making it easier for businesses to manage their financial operations. Bill.com is excellent for making and accepting digital payments, creating and sending invoices, and automating financial processes such as accounts payable and receivable. The software also offers easy accessibility via a mobile app for accounting on the go.
4 – Expensify
Expensify streamlines expense management, reduces manual paperwork, and improves efficiency for businesses and employees by tracking, reporting, and reimbursing expenses. The solution also integrates with accounting and payroll software, making it easier to export expense data. With Expensify, users can scan or upload receipts using their mobile devices, extract relevant information from the receipts using optical character recognition (OCR) technology, and categorize expenses. The system can also automatically import credit card transactions and match them with corresponding receipts, making the process of reconciling expenses more efficient.
5 – Ramp
Ramp offers a range of financial management solutions, as well as an impressive list of integrations with other software and applications. Ramp is well-known for its corporate charge card, but also for a variety of products that make accounting more efficient for businesses of every size. Ramp’s accounting automation is very user friendly, and enables a closing process that they say is eight times faster than the norm, saving businesses valuable time to reinvest into other areas.
Conclusion:
Startups can benefit from the powerful technology of top accounting software solutions. The software solutions listed above offer a wide range of features and functionality to help streamline financial management, improve accuracy, workflows, and efficiency, and help businesses grow. Contact us today to discuss the best options for your business.
