What Is The Most Commonly Used Accounting Software?

What Is The Most Commonly Used Accounting Software? | Accounting Smarts
Charles Hall

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Charles Hall

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June 10, 2022

Small business owners benefit most from using reliable accounting software. But with so many different options available, what is the most commonly used?

Small business owners benefit most from using reliable accounting software. But with so many different options available, what is the most commonly used?

QuickBooks Online is the most commonly used accounting software on the market. It offers business owners direct access to the cloud so they or their team members can access important data from anywhere in the world. They also provide affordable plans for businesses with many features that exceed all competitors.

Accounting relies on the consistent effort of tedious tasks throughout the entire year. This means you are reviewing hundreds, maybe thousands of transactions in a single year. By using accounting software, you unlock all of the features for a small price to simplify and automate most of the problematic aspects to keep your business running smoothly and saving you tons of time in the process.

To gather information about what account software was the most commonly used, we dug deep into customer reviews to determine exactly how the general public feels about many of the most famous names out there. We even conducted interviews with customers to learn about their pain points and why QuickBooks is good at solving them. Keep reading to learn more about the most commonly used accounting software.  

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What Is The Most Commonly Used Accounting Software?

QuickBooks is one of the most popular accounting software programs in the United States. It is an easy-to-use, affordable and simple-to-learn program for those who do not have a background in accounting.

QuickBooks offers a diverse range of features that make it the perfect solution for any business's accounting needs, no matter what size or industry. It is most commonly used as an accounting software because it offers some great features and apps to help save time and money, which is why it was created in the first place.

This article will explore why QuickBooks has been so successful in recent years and what this means for other companies within the industry. It will also look at what some of its competitors have planned for future updates to stay relevant in an ever-changing landscape.

QuickBooks Online

QuickBooks Online is a cloud-based suite of business applications that can be accessed via any internet browser or the QuickBooks Online mobile app. A business owner can use this software to save time by automating tasks, such as automatic invoicing and expense reporting and syncing data with other programs for tracking finances.

One of the most popular features of QuickBooks Online is the ability to sync data with other programs for tracking finances. This means that an entrepreneur only needs to set up and pay for a single program to access all of their financial details in one place.

Another popular feature of this product is its automated invoice process. Invoices are automatically generated based on previously set rules and customers’ information rather than manually creating them every time they are needed.

QuickBooks Online also has some other great features like payroll, inventory management, and time tracking. This software is a good investment if you are looking for a cost-effective way to manage your company’s finances and scale your business effectively.

QuickBooks is considered by many to be one of the best accounting software for SMBs due to its simplicity and ease of use. It offers the most complex set of features and available tools on the market too.

Pricing

  • Simple Start: $12.50/mo
  • Essentials: $20/mo
  • Plus: $35/mo
  • Advanced: $75/mo

The plans scale quickly by adding more features and access within the software. The Simple Start plan gives you all the basics needed as a small business owner just getting started, and as you continue to grow, you can upgrade your plan without the concern of spending too much money.

For example, the advanced plan includes 25 licenses for your employees, meaning that you can give your entire team a license to use QuickBooks for daily operations for that low cost.

Pros

  • Shared access on the cloud to use from anywhere.
  • Setup is simple, and the support team guides you the entire way.
  • Automatically syncs with bank accounts and cards.
  • Easy to add and manage users.
  • QuickBooks uses encryption protocols to store your data safely.
  • The mobile app is the most intuitive compared to any competitor.

Cons

  • Because it is on the cloud, you need internet access to use.
  • QuickBooks makes frequent updates, so you constantly need to learn something new.

Why You Need Accounting Software

Accounting software is essential for any business because it can help reduce time spent on manual and repetitive tasks. It also gives a more accurate view of the company's financials and provides a faster and simpler way to process transactions.

Companies need accounting software because it tracks and organizes all of the financial records to ensure that everything is accounted for.

It also gives a company a complete picture of how well their company is doing and can help them better understand what they need to improve on to make sure that they are making the most profit possible. Here are a few more reasons why you need accounting software for your small business.

Faster Business Growth

QuickBooks Online provides a way for small businesses to keep track of their finances in an easier and faster way, which enables them to spend less time on accounting and more time on growing their business.

While you focus on more high-value tasks, QuickBooks Online will help you build a strong financial foundation for your business.

Easier Access To Information

One of the great benefits of online accounting software is the ability to access your information from anywhere. The QuickBooks Online app gives you access to your account through your phone and tablet, which is a major convenience compared to traditional accounting software, where you have to access it from your work computer.

With online accounting software, you can do these things from anywhere with an internet connection to keep better track of everything that is going on with your business or clients.

Eliminate Tedious And Repetitive Tasks

Finally, QuickBooks Online gets rid of tedious, repetitive tasks by allowing you to prepare these reports automatically with just the click of a button. You can set up specific rules to automatically categorize transactions, send invoices, pay bills, and much more.

With QuickBooks Online, you will never need to perform the same task over and over again with the automation capabilities it can provide.

Other Commonly Used Accounting Software

FreshBooks

FreshBooks is an accounting software used by many small businesses, but it has some shortcomings in terms of functionality that can be found in QuickBooks. It is also not nearly as popular because it focuses on a more niche market compared to the broad reach QuickBooks provides.

QuickBooks is better because it has better reporting and accounting features. It is also more user-friendly and affordable than FreshBooks.

Xero

Xero is one of the most popular online accounting software on the market, but it doesn't have enough features to overtake QuickBooks as the best. QuickBooks offers more flexibility in pricing and plans to suit every type of business.

Xero also does not offer a high quality inventory management tool like QuickBooks. This makes it hard for small businesses that sell goods or services and need to track the quantities they have in stock in an efficient manner.

What’s The Best Accounting Software For Your Business?

QuickBooks makes it easy to track your business finances, generate reports, and pay your bills. The QuickBooks desktop app lets you work anywhere, anytime, with all your company’s financial data securely synced to the cloud. Plus, it's backed by award-winning customer care should you need help with any software or setup issues.

It continues to be the best option for many small businesses due to its simple yet powerful design that offers a complete range of features that can grow with your business needs from start-up all the way through large enterprise-level companies.

Charles Hall

Charles Hall

Charles has spent 25 plus years in the world of accounting and business. His experience includes working as a CPA/Auditor international accounting firms. He has worked as a controller and as a COO for small to medium sized companies.

Learn more about Charles Hall