Top 7 Accounting Software for Small Businesses in Canada

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best small business accounting

As you consider plans and pricing, don’t discount a software solution on price alone. Spending a little more money might provide tools that can save you a lot of time.

best small business accounting

A unique feature of FreshBooks is that invoices can be highly stylized and customized for a professional look and feel. FreshBooks is a great tool for budgeting out projects, sending estimates or proposals, and collecting customer payments. Not only do the majority of small business accounting professionals use QuickBooks Online, but there are also endless online training resources and forums to get support when needed. All accounting features can be conveniently accessed on one main dashboard, making bookkeeping more fluid and efficient. Also, if you deal with lots of customers and are shopping for both an accounting solution and a CRM solution, then Zoho could be perfect. I am a self-employed small business owner and I know how tricky it can be to figure out which accounting and bookkeeping software to use.

How Does Accounting Software Work?

You can get stand-alone accounts payable software for a small business just for expense management. There are also apps designed specifically for managing accounts receivable for a small business that generate and track customer invoicing. For VIP Service, it’s an additional $50 per year and comes with one-to-one training, a dedicated support team and early access to new features. For an additional $150 per year, Automated Insights come with the ability to import your bank transactions, get accounting reports, access real-time insights, receipt pairing and custom invoices. Neat is popular with self-employed entrepreneurs because it’s so easy to use.

But the landscape for those solutions is packed, and it can be tough to know where to start. We chose AccountEdge Pro as our best accounting software for experienced accountants because of its robust features and reporting capability. It’s a bit more complex than some of the other software, so this software works best if you’re already familiar with accounting terminology. Taxes are part of running a business, and many accounting software vendors are well aware of that. As such, they’ve designed programs that calculate sales tax, prepare tax forms and even file taxes with no intervention on your part. You can pay electronically or via check with the integrations, as well as make batch payments, search records and set payment approvals. The software provides accounts payable and accounts receivable automation, speeding up payments.


The software allows you to send custom invoices, track inventory, and create purchase orders to attach to bills — all from your phone or tablet. It errs on the more expensive side of the tools on this list, but it has business accounting an impressive enough suite of features to back its prices up. If your small business is more mature than most — and you can afford to spend a little extra on your accounting software — take a look at Sage50cloud.

  • Check out our list of the year’s best QuickBooks alternatives to get started.
  • Not only do the majority of small business accounting professionals use QuickBooks Online, but there are also endless online training resources and forums to get support when needed.
  • For one, it is one of the easiest of the accounting/bookkeeping solutions to use and configure.
  • Sage has other offerings that are designed specifically for medium and large businesses.

Most accounting software options for small businesses are designed to be easy to use. After all, it’s supposed to simplify managing your business finances, not cost you more time. QuickBooks and FreshBooks offer plenty of training resources, self-help articles and live support.

Intuit QuickBooks

Since you’ll have a separate business account, use it to track every expense with receipts and a dedicated business debit card. This may seem simple but it’s super important to keep up with activity for tax purposes and profit monitoring. Accounts receivable refer to the money your customers owe you when you send them an invoice. The details of each plan are available at Zoho Books Pricing page.

If your business sells products, you may want an accounting solution that has inventory management features. Last, look for software solutions that offer greater advantages by connecting to other business applications you already use, such as your POS system, CRM system or email marketing software. If you’re looking for an effective, free accounting software, check out Wave Financial. It offers many important, high-quality accounting features at no cost to you. There are no monthly or annual fees, nor do you have to license software.

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