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Accounting & Invoicing · for Small business owners

Best Accounting Software for Small Business

For most small businesses, accounting software needs to do three things well: connect to the bank so transactions flow in automatically, send invoices and track what customers owe, and produce reports your accountant can work from. Beyond that, needs diverge quickly depending on whether you hold stock, bill for time or work in more than one currency.

Updated September 30, 2026 · 3 picks · selections are editorial and never sponsored

The picks below are full ledgers or invoicing-led accounting tools that can serve as your main books. Pay close attention to plan tiers, since features like inventory, multi-currency, bank reconciliation and extra users often sit on higher plans than the entry option.

How we chose

1 Core accounting

Bank reconciliation, double-entry reports and financial statements available on the plan you would buy.

2 Invoicing and payments

Ability to send invoices, accept online payments and follow up on overdue balances.

3 Room to grow

How easily users, inventory, projects or multi-currency can be added as the business expands.

4 Integrations and accountant access

Connections to banks and other apps, plus the ability to invite an outside accountant.

Picks at a glance

CriterionQuickBooks OnlineXeroFreshBooks
PricingVerifyVerifyVerify
Editorial scoreNot yet scoredNot yet scoredNot yet scored

The picks

1

QuickBooks Online

Cloud bookkeeping from Intuit that ties invoicing, bank feeds, bill pay and reporting together, with tiers that scale up to larger teams.
Not yet scored

Why it fits small business owners

QuickBooks Online combines bank feeds, invoicing, bill pay and reporting in one ledger, with inventory, budgeting and project profitability available as you move up to Plus or Advanced.

Limitations to weigh

Inventory and project profitability need Plus or higher, and custom user permissions are limited to Advanced.

Pricing
Pricing not yet verified
Last checked
not yet verified by our editors
Also good for
Small businesses wanting an all-in-one ledger, Growing teams that may need inventory or project tracking later, Businesses that work with an outside accountant
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2

Xero

Online accounting that brings invoicing, bank reconciliation, bills and reporting into one place for small businesses and their advisors.
Not yet scored

Why it fits small business owners

Xero offers a complete cloud ledger with bank reconciliation, invoicing, bills, dashboards and cash flow forecasting, plus a large marketplace of connected apps.

Limitations to weigh

The Early plan caps invoices and bills, and multi-currency and projects require the Established plan.

Pricing
Pricing not yet verified
Last checked
not yet verified by our editors
Also good for
Small businesses wanting a full cloud ledger, Businesses that rely on many connected apps, Companies working closely with an accountant or bookkeeper
Visit Xero Official vendor siteXero reviewXero alternatives
3

FreshBooks

Invoicing-led accounting for freelancers and service businesses, combining billing, time tracking, expenses and projects.
Not yet scored

Why it fits small business owners

FreshBooks suits service-based small businesses, pairing invoicing, time tracking and expenses with double-entry reports and bank reconciliation from its Plus plan.

Limitations to weigh

Lite omits double-entry reports and bank reconciliation, and lower plans cap billable clients.

Pricing
Pricing not yet verified
Last checked
not yet verified by our editors
Also good for
Freelancers and solopreneurs, Agencies and consultancies billing for time, Small service businesses with contractors
Visit FreshBooks Official vendor siteFreshBooks reviewFreshBooks alternatives