Intuit's QuickBooks Online is our choice for the best accounting software for small businesses due to its feature-rich cloud software, wide variety of integrations, affordable pricing, and reputation. QuickBooks has served small businesses for more than 20 years, and for good reason. When you choose this accounting software, you get all the tools you need to support your operations now and in the future.
Editor's score: 9.4/10
What led to QuickBooks Online being selected as our best pick for small businesses is that even its basic plan has lots of features other vendors charge extra for, including professional invoicing and the ability to accept payments, track expenses, and manage your business's cash flow. QuickBooks' higher-priced plans include batch invoices; business analytics; a dedicated support team; on-demand online training; and integrations with Bill.com, Salesforce, and HubSpot. With all of QuickBooks' plans, you can snap photos of receipts and link expenses from your mobile device, integrate with several apps, and access customer support.
Another aspect of QuickBooks that makes it ideal for small businesses is the ability to connect with a live accountant. Cloud accounting software automates a lot of the tasks, but sometimes, you need the insight of an accounting professional. With QuickBooks's Live Bookkeeping service, you get access to a bookkeeper who sets up the software for you, categorizes transactions, reconciles accounts, closes books monthly and runs detailed reports. Another helpful feature with the service is Cleanup, which QuickBooks rolled out earlier this year. Customers can use the feature on a pay-per-use basis to reconcile historical accounts and categorize historical transactions. Pricing for the live bookkeeping service depends on your needs and requires an initial consultation (which is free) with a QuickBooks representative.
For small business owners who already have a trusted accountant, QuickBooks makes it easy (and free) for them to collaborate with you. The software enables you to invite an accountant who can work on your books for free. All the accountant needs to do is accept the invitation. You can remove access anytime.
QuickBooks offers small businesses of all sizes a full suite of features and functionality at affordable price points, but that's not the only reason we selected it as the best accounting software for small businesses. We also like its reputation and adoption rate. If you work with an accountant or accounting consultant, chances are, they are familiar with QuickBooks. The same can't always be said of other accounting software programs.
August 2021: QuickBooks recently launched QuickBooks Card Reader, a payment device designed for small business owners that integrates with QuickBooks Payments. QuickBooks said it launched the handheld, contactless card reader in response to a change in the way businesses have been processing payments since the start of the COVID-19 pandemic.
Intuit recently inked a deal to acquire Mailchimp, the popular marketing platform for small and medium-sized businesses. The $12 billion deal is part of Intuit's mission to support small business growth. Once the deal closes, Intuit plans to integrate Mailchimp with QuickBooks. That means customers will be able to combine customer data with QuickBook's purchase data, giving them powerful insights into their customers' preferences.
April 2021: Intuit has partnered with DocuSign to enable business owners to sign estimates digitally without leaving the QuickBooks Online platform. Through QuickBooks' new DocuSign eSignature Connector, small businesses can improve their turnaround times for estimates, automate the estimate process, and track progress of a potential contract. QuickBooks said customers can save $36 on average per contract with the service.
May 2021: Intuit recently announced QuickBooks Online's integration with Docyt, an AI-powered tool that works in conjunction with the accounting software. Through Docyt, business owners can pay bills, manage expenses and financial documents, capture receipts, and run different reports from one central location. With this integration, the company aims to reduce the number of apps accountants and business owners have to manage.