Most accounting software programs have an array of plans and prices to fit your needs and budget. The plans typically differ in price, included features and number of users who can access the software.
There are two main cost structures for accounting software: perpetual licensing and subscription pricing. A perpetual licensing model gives you full access to software forever for a one-time fee. This option is generally used for software you buy and download directly to your computer, and it doesn't usually include any software updates. Costs range from a few hundred dollars to more than $1,000.
A subscription pricing model, which is generally used with cloud-hosted software, means you pay monthly or annually for services. A benefit of this option is that you have access to all the software's updates as soon as they are released. Depending on the service plan you choose, subscription prices range from $5 to $60 per month.
Be wary of hidden fees in customization options, installation services, integrations, and maintenance or support services. To avoid overpaying for features you don't need, make a list of what you're looking for in an accounting system. Like a grocery list, it will keep you from overspending.
Some accounting programs are free. Wave Financial is a good example of a quality service that comes at no charge. This free tool offers many of the key features businesses look in accounting software.
When searching for accounting software, take advantage of free trials and demos. This will help you see how easy it is to use and how well it fits your company's needs.