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Select up to 4 software tools to compare side by side โ€” pricing, features, pros and cons. Find the best fit for your needs with detailed side-by-side comparisons.

Verdict

The best accounting software depends on your business size, budget, and needs. QuickBooks Online is the industry standard with the most features and integrations. Xero offers unlimited users and strong multi-currency support. FreshBooks has the best invoicing experience for freelancers. Wave is free for US and Canada-based sole proprietors.

Select tools:
FeatureQuickBooks OnlineXeroSage 50cloud
Starting PriceFrom $35/moFrom $20/moFrom $57/mo
Simple Start$35/mo$20/mo$57/mo
Essentials$65/mo$47/mo$96/mo
Plus$99/mo$80/mo$160/mo
Advanced$235/moโ€”โ€”
Best ForSmall Biz, EnterpriseSmall Biz, EnterpriseSmall Biz
RegionsUS, CA, GB, AUUS, CA, GB, AU, NZ, SG, ZA, HKUS, CA, GB
PlatformsWeb, Ios, AndroidWeb, Ios, AndroidDesktop, Web
Key Features
  • โ€ขBank reconciliation and transaction auto-categorization
  • โ€ขInvoicing with recurring templates and payment reminders
  • โ€ขSales tax tracking and 1099 contractor management
  • โ€ขInventory tracking (Plus and above)
  • โ€ขUnlimited user seats on all paid plans
  • โ€ขMulti-currency accounting with auto exchange rate updates
  • โ€ขBank reconciliation with AI-suggested matches
  • โ€ขInvoicing with online payment links and recurring templates
  • โ€ขDesktop-first with local data storage and processing
  • โ€ขMicrosoft 365 integration โ€” Excel, Outlook, and Teams connectivity
  • โ€ขCloud backup and remote browser access
  • โ€ขAdvanced inventory management with serialized and lot tracking
Pros
  • +Industry-standard โ€” most CPAs and bookkeepers are QuickBooks-certified, making collaboration seamless
  • +Feature-rich with dedicated modules for invoicing, inventory, payroll, and reporting
  • +Vast app marketplace with 500+ integrations covering CRM, payments, e-commerce, and more
  • +Unlimited users at every paid tier โ€” no per-seat fees, making it cost-effective for growing teams
  • +Excellent multi-currency support with automatic exchange rate feeds and cross-currency reconciliation
  • +Clean, modern interface that is significantly easier to navigate than legacy competitors
  • +Desktop reliability โ€” works without internet, no browser lag, local data control
  • +Best inventory management in the SMB accounting category โ€” serialized tracking, lot numbers, assemblies
  • +Microsoft 365 integration is deeper than most cloud accounting tools
Cons
  • โˆ’Steep learning curve โ€” the depth of features can overwhelm new users, especially sole proprietors
  • โˆ’Expensive at scale โ€” the Plus tier ($99/mo) is needed for inventory, and Advanced ($235/mo) for custom reporting
  • โˆ’Payroll is a paid add-on rather than included, increasing total cost for businesses with employees
  • โˆ’Payroll is a separate add-on in every region, adding $20โ€“$50/mo per country
  • โˆ’Smaller integration ecosystem than QuickBooks โ€” some niche apps are Xero-only but most major tools support both
  • โˆ’No direct phone support on the Starter plan โ€” only email and chat
  • โˆ’Desktop-first architecture limits collaboration โ€” remote access via browser is slower than native cloud tools
  • โˆ’Less modern UI than QuickBooks Online or Xero โ€” interface reflects its desktop origins
  • โˆ’Fewer third-party integrations than cloud competitors
Integrations10+ integrations10+ integrations6+ integrations
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