Sage Intacct provides a customizable controller dashboard that lays out business financials and essential information through reports, statements and a wide range of visualizations. Sage Intacct provides essential insights to compare the statistics and figures of numerous entities. Moreover, the reporting dashboard allows real-time data analysis with a detailed general ledger and other custom reports. Record templates vary in complexity, so you need to understand the differences before you go with one accounting service or another. Some, such as Patriot Software Accounting Premium, simply let you maintain descriptive product records.

Best Accounting Software for Multiple Businesses in 2024

Despite these challenges, accounting software can be a valuable tool for small businesses. When choosing accounting software, it’s important to compare the different features offered to find the best fit for the business. With Eleven’s multi-company accounting software «On-Ice» service, available for just US$190 per month, we securely retain all your practice data until you’re ready to reactivate your account. Apart from a multi-business accounting software structure, Eleven has integrated document management and BI modules, allowing you to keep all the docs and reports accurate and at hand. If you want more features than just the basics, accounting software typically starts around $10 to $15 a month. Xero, for instance, charges $13 for its most basic plan while FreshBooks starts at $15.

• It’s important to note that the features offered can vary greatly, so it’s worth comparing the different plans to find the best fit for the business.
• Sage Intacct works well for revenue recognition and some other GAAP accounting standards.
• This can improve project and financial visibility and allow the creation of new reports that help make better decisions.
• Zoho does offer a forever-free plan as long as revenue falls under the threshold of $50,000 for the fiscal year.
• FreshBooks is a good fit for self-employed business owners, but, with four plans available, it can also grow along with you.

NetSuite Professional Services Automation – Best for Large Consulting Firms

We weighted each category equally to derive our star ratings, along with our accounting expert’s opinion and advice. Manage investments and assets to gain control of your portfolio across your private companies. Transform data into real-time rich visuals with Gravity and Microsoft Power BI. Imagine a CEO wanting to examine their business to see what was selling, what wasn’t, and why.

Patriot Accounting – Best Accounting Solution for Multi-entity companies

Users can access basic accounting software features such as creating invoices, reconciling bank accounts and managing the chart of accounts. Its Pro Plan adds more premium features such as automatic imports of bank transactions and additional user roles. Xero provides core capabilities that facilitate best multi company accounting software and support fundamental accounting operations across each of its plans. All plans are good for unlimited users, making it a flexible pick for small and large businesses. You can get all the essential features plus advanced features such as project tracking and analytics in the highest plan.

With FreshBooks, you know exactly where your accounts and expenses are simply at a glance. Impact on your credit may vary, as credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations. Compare features, pricing, and expert reviews for your business software needs – all in one place. Xero and Zoho Books go further by letting you create more advanced forms, like purchase orders, sales receipts, credit notes, and statements. All you have to do is fill in the blanks and select from lists of variables like customers and items. Once you have a customer record and start creating invoices, sending statements, and recording billable expenses, you can usually access historical activities within the record itself.

• There’s certainly no shortage of accounting software on the market, making it all the more important to know what features to look for.
• This leads to books being closed quicker, faster creation of reports, and centralized payables and receivables with multiple charts of accounts.
• On the flip side, its comprehensive feature set makes it a good option for midsize companies requiring more than basic accounting.
• They must copy and paste data between databases as there is no simple mechanism for them to share information.
• Most accounting software also syncs with payroll software so you don’t have to transfer your paycheck data into your general ledger by hand.
• Using this system, you can track the inventory status of all warehouses within your company, analyzing each location’s product status and sales and purchase histories.

We reviewed several cloud accounting software providers using a detailed methodology to help you find the eight best payroll services for small businesses. Our ratings considered factors that included starting price, price range, multiple essential accounting features, reviews by actual customers and scoring by our panel of experts. FreshBooks offers a straightforward approach to managing finances, making it exceptionally accessible for beginners and established businesses alike. With a clear interface and features such as easy invoicing, expense tracking and timekeeping, users can navigate their financial tasks without a steep learning curve. The platform prioritizes simplicity, ensuring that even those with minimal accounting experience can maintain accurate and organized records.

How Do You Set Up Accounting Software?

Make the billing process as simple as possible for your businesses and your clients. FreshBooks accounting software allows you to set up billing schedules so your clients can pay automatically and securely by credit card every month, without having to think about it. Your clients save time and you get the financial security of knowing exactly when you’ll be paid. Many accounting software packages allow third-party application integrations.

We like that, with higher tiers, you also get bill management, inventory management and project profitability tools. When we tested QuickBooks simultaneously for several small businesses, growing companies, new organizations and some of each, we were impressed each time. Finally, we like that Zoho Books handles unlimited invoice tracking, expense management, and over 50 extensive accounting reports. Additionally, it supports the reconciliation of multiple credit cards and bank accounts, a huge plus for organizations with several different branches.