Best Small Business Accounting Software (Our #1 Pick)

By Zach Buchenau

Last Updated: December 28, 2020

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Best small business accounting software | Be The Budget

If you’re looking for a good small business accounting and bookkeeping software, we recommend FreshBooks. Read on to learn why this is our #1 pick for small business owners.

When it comes to starting a business, bookkeeping and accounting can be one of the most daunting and confusing tasks for new entrepreneurs. In fact, for many small business owners, it can get so overwhelming that they end up avoiding it altogether.

But here’s the thing, keeping track of your company finances is an absolute essential component of your success as an entrepreneur. And, therefore, neglecting it can lead to some seriously bad problems.

To put it simply, if you want to stay in business, learning how to properly manage your company finances should be at the top of your priority list. Beyond that, it should become a regular part of your entrepreneurial routine.

But where do you start?

Well, these days, there are all sorts of small business accounting software options to help you navigate this complex process. And while I’m sure they all have their merits, when it comes to small business owners, there is one platform that we believe stands head and shoulders above the rest — and that’s FreshBooks.

But how did we come to that conclusion? And what makes FreshBooks such a great small business accounting software?

Well, that’s exactly what we’re going to address in the rest of this guide.

Let’s dive in!

FreshBooks Overview

Before we dive into the reasons why we picked FreshBooks as our favorite small business accounting software, I’d like to provide you with a brief overview of what FreshBooks is all about.

FreshBooks was originally created in 2003 as an accounting solution for small business owners. But, despite its humble beginnings, it has since grown to be one of the biggest names in the business accounting industry.

In fact, according to their website, “More than 24 million people have used FreshBooks to send, receive, print and pay invoices.” (Woah, that’s the kind of inspirational story I need more of in my life!)

Anyway, these days, FreshBooks has clients in over 160 countries, and has claimed the title as the #1 Cloud-Accounting Solution For Small Businesses.

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FreshBooks Is Designed For Small Business Owners

One of the main reasons why we use FreshBooks, and why we picked it as our favorite small business accounting software, is because it was designed (specifically) for small business owners.

And, let me tell you, they have done a fantastic job of getting in the mind of the newbie entrepreneur. Seriously, they have taken nearly all of the complexity and overwhelm out of bookkeeping for entrepreneurs.

I would know.

Like most beginning entrepreneurs, when we first started Be The Budget, I knew almost nothing about small business accounting. Sure, I knew the basic principles, but when it came to actually managing our company finances, I was a duck out of water.

Thankfully, between all the helpful information that FreshBooks provides through their blog (plus the support section of their website), and their extremely intuitive user interface, I had our company books up and running in a matter of minutes. And the best part is, I understood what was going on.

And, if you find yourself in that same boat — you know, the one where small business accounting makes your palms sweat, and your head hurt — then I highly recommend signing up for a free trial of FreshBooks.

I think you’ll be impressed by how much consideration for the newbie entrepreneur they took into account when they designed this program.

Best small business accounting software - our #1 pick | Be The Budget

What Can You Do With FreshBooks?

To put it simply, FreshBooks gives you the capability to manage nearly every aspect of your small business’ finances.

Whether you need to invoice clients, accept payments, track the amount of time you and your team spend on a project, keep track of your expenses, prepare a profit and loss statement, and so much more, FreshBooks has you covered.

Though, in my opinion, the best part about FreshBooks is how simple it is to handle all our accounting. Seriously, with just a few clicks, I can match nearly all of our expenses (for double-entry accounting purposes), check our profitability, and see where our entire financial situation stands any time I want.

Another awesome benefit of FreshBooks, is that you can even invite your accountant into your company books. So, when it comes time to prepare your taxes, or just get some advice about your company finances, your accountant will have all the information they need at their fingertips.

Oh, and to top it all off, you can connect and sync your bank account with your FreshBooks account, which makes logging your expenses and income super fast and simple. Once again, you can accomplish the whole process with just a few simple clicks. (Honestly, I wish everything in personal finance was this easy!)

If you want to dive deeper into its full capabilities, you can click here to read through all the features FreshBooks has to offer.

FreshBooks Pricing – How Much Does It Cost?

At the time of writing this article, FreshBooks offers pricing plans from $15 per month, all the way up to $50 per month. They also offer custom pricing for businesses with over 500 clients. Though, for most beginning entrepreneurs, either their “Lite” plan or their “Plus” plan will be more than enough.

That said, FreshBooks offers a completely free 30-day trial for all new users. Even better, they don’t even make you enter your payment information when you sign up for the trial — which is something I really like.

Also, if you do decide to sign up for an account after your trial ends, they offer a discount if you pay yearly rather than monthly. Which, if you have the cashflow to do it, is a nice little bonus.

If you’d like to give FreshBooks a try, you can click here to sign up for a free 30-day trial.

Final Thoughts

If you’re looking for a good small business accounting software, FreshBooks is the solution we recommend.

Whether you need to track the time you spend on a project, keep an eye on your expenses, or prepare your company books for the upcoming tax season, FreshBooks takes the overwhelm out of small business accounting and bookkeeping.

So, don’t be one of those entrepreneurs that puts off managing your company finances. Take control of your future, and set yourself up for entrepreneurial success with FreshBooks.

Take it from me, it might just be one of the best business decisions you ever make.

Best small business accounting software for beginners | Be The Budget

Zach Buchenau

About The Author:

Zach Buchenau is a self-proclaimed personal finance nerd. When he isn't writing about budgeting, getting out of debt, making extra money, and living a frugal life, you can find him building furniture, fly fishing, or developing websites. He is the co-founder of BeTheBudget, and Chipotle's most loyal customer.

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