Best small business financial management software in 2025

Managing the financial operations of your business can be challenging and time-consuming, especially if you’re running a small one and there are not many people to take on this task. Luckily, you can use a small business financial management software that will help you tackle this problem.

Small business financial management software or accounting software helps you streamline and manage your financial operations. These tools simplify key tasks such as bookkeeping, invoicing, expense tracking, payroll, and tax management. This is important because by managing your finances efficiently, you can easily achieve success for your small business.

But, because there are many tools on the market, as a Cybernews expert, along with the research team, I extensively reviewed and compared various financial management software solutions for small businesses. In this article, I’ll cover features, pricing, and detailed reviews of the best financial software for small businesses available.

Best small business financial management software – shortlist

• Xero – the overall best small business financial management software
• QuickBooks – best accounting software for a small business
• Zoho Finance Plus – best unified online accounting software for small businesses
• Wave – best business accounting software for invoicing
• FreshBooks – best bookkeeping software for small businesses
• Melio – best accounting software for small businesses for streamlining payments
• Neat – best small business accounting software for managing receipts and documents
• NetSuite – best small business financial software for multiple business units
• OneUp – best bookkeeping software for small businesses for cash flow forecasts

The best small business financial management software compared

If you want to find the best accounting systems for small businesses, I’ve got your back. In the table below, I’ll compare accounting software solutions that will streamline and help you manage all of your financial operations. So, let’s go through what they offer together.

Provider	Best for	Pricing	Key features
Xero	Self-employed businesses	From $2.90/month, 30-day free trial	Bank connections
QuickBooks	Small business accounting	From $17.50/month, 30-day free trial	Invoicing
Zoho Finance Plus	Sales	From $249/month, 14-day free trial	Expense tracking
Wave	Freelancers and small businesses	From $16/month, free version	Estimates
FreshBooks	Freelancers, accountants, self-employed professionals	From $7.60/month, 30-day free trial	Payroll
Melio	Small accounting businesses	From $21.25/month, free version	Optimizing cash flows
Neat	Small businesses	From $200/year, 14-day free trial	Receipts tracking
NetSuite	International small businesses	On request, free product tour	Tax calculations
OneUp	Accountants	On request	Invoicing

9 best small business financial management software – our detailed list

If you’re looking for a small home business accounting software, you need to check out the list I’ve compiled below. So, let’s explore the features and all of the perks of the best accounting software for your small business needs.

1. Xero – the best small business financial management software in 2025

Best for:	Managing small business finances
Free trial:	Yes
Starting price:	From $2.90/month
Top features:	Online invoicing, bank reconciliation

Visit Xero

Xero got the first place on my detailed list as the best online accounting software for a small business. With almost a decade of experience and a strong reputation, you’ll significantly streamline your financial operations. You can use it for various small business types, especially if you’re an accountant or a bookkeeper.

What I liked the most is that Xero’s online invoicing system lets you create, send, and track invoices. You can also set automated reminders for unpaid invoices and offer multiple online payment options through integrations with Stripe, PayPal, and Square.

Another standout feature is the double-entry bookkeeping system. It includes bank reconciliation, fixed asset management, and automated transaction matching. You can connect your bank accounts to automatically import and reconcile transactions, reducing manual data entry and errors.

You can also track accounts payable and receivable, categorize income and expenses, and manage financial statements such as profit and loss reports and balance sheets. On top of this, Xero comes with automated tax calculations for sales tax, VAT, and GST based on regional tax laws.

Ultimately, Xero’s claim expenses feature allows employees to submit expenses by capturing receipts via the mobile app. The system categorizes expenses and can assign them to specific projects or clients. Businesses can automate expense approvals, enforce spending policies, and reimburse employees directly from the platform.

As for the pricing, Xero is a cheap accounting software offering plans that start at $2.90/month. But you can always try it for free so you can make the best decision.

2. QuickBooks – best small business bookkeeping software for invoicing

Best for:	Small accounting businesses
Free trial:	Yes
Starting price:	From $17.50/month
Top features:	Invoicing, expense tracking, bill management

Visit QuickBooks

QuickBooks is one of the best business accounting programs. Thanks to this platform, you can find various tools and features that will help you manage your money, track and pay bills, pay your team, and make smart decisions. Basically, you’ll find everything you need to manage the finances of your small accounting business.

QuickBooks offers a full-featured accounting system that includes bank reconciliation, a customizable chart of accounts, and real-time financial reporting. You can link their bank and credit card accounts to automatically import transactions, reducing manual data entry while maintaining up-to-date financial records.

More so, QuickBooks allows you to create and send professional invoices that you can customize with branding, payment terms, and automated reminders for overdue payments. Customers can pay invoices online through multiple payment methods, including credit cards, bank transfers, and QuickBooks Payments, ensuring faster transaction processing.

But also, there’s the expense tracking feature that automatically records expenses by syncing bank and credit card accounts, categorizing transactions, and attaching receipts for documentation.

What’s more, QuickBooks provides an integrated payroll service that automates employee wage calculations, tax withholdings, and benefits deductions. You can set up direct deposit payments, track employee hours through integrated time tracking, and ensure payroll tax compliance with automated filings and payments.

Ultimately, you can get QuickBooks for as little as $17.50/month and also benefit from its 30-day free trial.

3. Zoho Finance Plus – best online accounting software for managing your sales

Best for:	Streamlining sales operations
Free trial:	Yes
Starting price:	From $249/month
Top features:	Expense tracking, financial reporting

Visit Zoho Projects

Zoho is another alternative online accounting app. This unified platform lets you streamline various finance operations for your small business, such as financial reporting and expense tracking. However, it particularly stands out if you’re looking to simplify your sales operations.

The first thing that caught my attention when reviewing this software was the in-depth expense tracking. In fact, Zoho Expense streamlines your expense tracking process by allowing you to scan receipts, categorize expenses, set policies, and automate approvals. This ensures accurate reimbursement and compliance with internal spending rules.

Another incredible feature is financial reporting. This platform provides customizable reports, including balance sheets, profit and loss statements, and cash flow summaries. Thus, you can track your organization’s financial health and make data-driven decisions.

However, I couldn’t help but notice the invoicing features. Zoho Invoice allows you to generate, customize, and send professional invoices while automating payment reminders. On the other hand, Zoho Billing offers subscription management, recurring billing, and metered invoicing for businesses with complex pricing structures.

The only drawback I encountered was the pricing. Zoho Finance Plus is the most expensive small business financial management software, with plans starting at $249/month. Luckily, it makes up for this with a free trial that lets you test its services.

4. Wave – best easy accounting software for making accurate estimates

Best for:	Managing your money from one place
Free trial:	No
Starting price:	From $16/month
Top features:	Invoicing, estimates, payroll

Wave is the best accounting program for a small business. Thanks to its features and excellent reputation, it is used by over two million satisfied small business owners. Due to its invoicing, payroll, and accounting features, you’ll make managing your finances a breeze.

More precisely, Wave lets you create and send professional invoices, which will get you paid faster. On top of this, it also automates recurring invoices and payments for repeat customers, so you get paid on time. Ultimately, everything syncs seamlessly with Wave’s accounting feature for effortless bookkeeping.

Another thing I really liked was the ability to create estimates quickly. Thanks to the customizable templates, you can even add your logo and branding to make them as personalized as possible. In addition, you can track your estimates in real time so you always know their status.

Furthermore, I must point out the simplicity of paying your employees or contractors. You can easily create W2s and 1099s during tax season. What’s more, you’ll save a significant amount of time on manual bookkeeping due to the integration of this feature with the overall Wave accounting software. Plus, you can deposit payments directly into everyone’s bank accounts.

When it comes to the pricing, I can honestly say that Wave is one of the cheapest accounting software solutions. It starts at $16/month and also provides you with an entirely free version.

5. FreshBooks – best bookkeeping software for freelancersing

Best for:	Keeping track of your expenses
Free trial:	Yes
Starting price:	From $7.60/month
Top features:	Invoicing, payroll

If you want to save some money and still get the best bookkeeping software for small businesses, I recommend checking out FreshBooks. But this isn’t just basic accounting software. Thanks to its invoicing, billing and payments, expenses, and payroll features, you’ll make the complex booking part a piece of cake.

I really liked FreshBook’s invoicing feature because you can create professional invoices in minutes. More precisely, you can automatically add tracked time and expenses, calculate taxes, and customize your payment options. But the best part is that you can even preview the invoice before you send it.

With FreshBooks Payroll, you can pay your employees and contractors directly from your FreshBooks account, saving you time and ensuring accuracy. Plus, you can see how much you’re spending on payroll, making managing your finances a breeze.

One feature that many bookkeeping software small business tools lack is mileage tracking. This feature shows potential tax deductions for every business trip, which you can easily download as ready-to-be-filed reports from your account.

In terms of payments, you can get FreshBooks for as low as $7.60/month and even try it for free to test its services.

6. Melio – best small business software for optimizing cash flows

Best for:	Small accounting businesses
Free trial:	No
Starting price:	From $21.25/month
Top features:	Payments tracking, optimizing cash flows

Melio is another of the best online accounting software, which specializes in optimizing your cash flows and helping you gain more financial control.

More precisely, by using Melio, you can select different payment methods and speeds that align with your business needs. As a result, you can optimize cash flow without changing how your vendors receive payments.

On top of this, you can also enjoy easy payment tracking. Basically, Melio allows you to monitor every stage of your incoming payments, from sent to pending to paid. Therefore, you don’t have to worry about the status of your payments.

Last but not least, Melio offers an entirely free version. However, if you are looking for more features, you can check out its paid plans, which start at $21.25/month.

7. Neat – best online small business accounting software for tracking receipts

Best for:	Small businesses reporting
Free trial:	Yes
Starting price:	From $200/year
Top features:	Receipts tracking, simple document filtering

Neat is one of the easiest small business accounting software to use. As its functionality lies within tracking receipts and documenting various financial documents with ease, you shouldn’t face any issues.

One thing that stood out to me was the simplicity of the receipt tracking feature. All you have to do is snap a picture using the Neat mobile app, email, drag and drop documents into Neat, or import them with a compatible scanner. Then, add these items to expense reports for quick analysis or timely reimbursement.

In addition, its OCR software can extract information from any paper document, allowing you to enter receipts quickly and accurately.

On top of this, Neat lets you send expenses to your tax or accounting software. In fact, all incoming data will be automatically coded, allowing you to export tax categories and expenses and document images to various tax software solutions.

Unfortunately, Neat’s entry plan starts at $200/year. However, in order not to rush your decision, you can try it for free.

8. NetSuite – best desktop accounting software for a small business with international operations

Best for:	International small businesses
Free trial:	Yes
Starting price:	On request
Top features:	Tax calculations, consolidation of financial statements

NetSuite is another business finance software that got a place on my list. Thanks to its capabilities, you can manage multiple subsidiaries, business units, and legal entities, regardless of whether they are domestic or international, from one platform.

NetSuite supports a standardized general ledger structure at the corporate or headquarters level while allowing regional business units or subsidiaries to create custom account charts. Additionally, transactions recorded at the local level are automatically mapped and posted to the parent account, contributing to consolidated financial statements.

What’s more, its configurable tax engine, SuiteTax, provides you with global tax management through a system that automates the entire tax compliance process. As a result, you’ll save time, reduce errors, and minimize costs. Ultimately, you can even calculate taxes on sales and purchases in real time.

If you think this is the best global and home business accounting software, you need to contact its customer support to get a deal. In the meantime, you can apply for a free product tour.

9. OneUp – best small business accounting software for automated invoicing

Best for:	Accountants
Free trial:	No
Starting price:	On request
Top features:	Invoicing, cash flow forecasts

Last but not least on my list is OneUp. This tool offers various functionalities, from AI to cash flow forecasts to invoicing, allowing you to simplify accounting tasks and focus on your small business growth.

Cash flow forecast is one of the features that made the most significant impact on me. In fact, it shows how much money the customer expects to receive and to pay over the following months. Also, it provides a predictive cash balance based on bank feeds, OneUp AI prediction, and customer entries.

This business bookkeeping software also offers invoicing capabilities. This means that you can create and send fully customizable invoices. You can also connect them to a payment gateway for a better customer experience and automated invoice/payment reconciliation.

Like NetSuite, OneUp also doesn’t display its prices. Therefore, you should get in touch with its customer support and request an offer.

How did we select the best small business financial management software?

To select the best small business financial management software, I followed Cybernews’ methodology. The Cybernews research team worked together to ensure that they’ve chosen the best small business bookkeeping software for you. So, our criteria included:

• Pricing: As I’m discussing the best small business financial management tools, I made sure that all of the solutions I’ve picked have affordable pricing. Still, I was also focused on the value they provide for your money and come with all the necessary functionalities.
• Features: When it comes to the features, the Cybernews research team looked for software solutions with accounting, invoicing, billing, tax management, expense tracking, and in-depth analytics, among all other necessary features. This helps me provide you with the best small business financial management software for your needs.
• Scalability: Another key criterion is scalability. To make sure that each tool has this, I went for solutions that offer more pricing plans, allowing you to switch when your business grows. Also, I searched whether there are all the necessary resources that will support your growth.
• Customer satisfaction: Lastly, I was interested in customer satisfaction. That’s why I read numerous user reviews that helped me get first-hand information about each tool’s services. But I also tested the customer support to check out how helpful and responsive they were.

What is financial management software and what does it do?

Financial management software tools simplify the financial aspect of your small business. More precisely, these solutions manage essential tasks like bookkeeping, invoicing, tracking expenses, payroll, and even taxes. On top of this, you will get accurate and real-time reports about your financial operations.

However, small business financial management software also provides you with a clear overview of your finances, helps with budgeting, and automates many processes. As a result, you’ll maintain financial health, be compliant with various regulations, and make informed decisions based on real data.

Additionally, many financial management tools integrate with third parties, such as your bank, payment systems, and CRM, so they can easily support your business growth.

All of this is possible because online accounting systems run on the data you provide to them, including information about your accounts, customers, vendors, and what to buy or sell. Thus, you can quickly generate invoices, track expenses, and pay your bills.

Benefits of using financial software

The best accounting software small business solution has a lot of advantages. However, I decided to make things easier for you and picked only the most significant ones. So, let’s go through my list below and check out all of the benefits of using financial software:

• Time-saving: Accounting and bookkeeping software automates tedious accounting tasks and streamlines financial management operations. These include invoicing, expense tracking, and reconciliation. As a result, it reduces a lot of human errors and saves you a significant amount of time to focus on other tasks.
• Accuracy: Many financial software solutions offer built-in options for detecting errors. Due to this, they ensure more accurate financial records and help you comply with various regulatory requirements.
• Improved decision-making: One of the best perks of accounting packages for small businesses is that they provide real-time insights into your company’s financial performance. Due to this, you can make more informed decisions, identify any areas for improvement, and boost your growth.
• Cost-effective: Last but not least, my accounting software comparison has shown me that there are many affordable options out there. These services also offer scalable plans that suit different business sizes without breaking the bank.

How much does accounting software cost?

While it’s hard to say how much accounting software costs, I can provide you with the general picture. In other words, you can find both entirely free financial management software solutions and premium ones.

When it comes to premium ones, they can cost from around $2/month to more than $200/month, depending on the accounting software package you choose. Regardless of this, many paid tools also offer free trials. This comes in very handy if you want to test their services before making a final decision.

Speaking of paid tools, you can find ones that come with monthly subscriptions, which charge you each month. On the other hand, there are also financial management software tools that have tiered pricing models. This means that you can pick from a few different plans, and these usually offer regular discounts, such as 50% off and three months free.

By going for a tiered pricing financial tool, you will usually get:

• Additional users: Each pricing tier allows access to a certain number of users. Therefore, you may need to pay an extra monthly fee for additional users. Also, the entry-level plans are always more limited in terms of how many people can use them.
• Advanced features: Another factor is that the initial plans come with the least available features. So, if you want to use the more advanced ones, you need to switch to a more expensive plan.
• Support: Last but not least, you may need to get a higher-priced plan in order to get in touch with an accountant. Usually, this isn’t the case with entry plans.

How do you set up accounting software?

Setting up accounting software depends on your business needs. In other words, more complex needs require a longer setup.

That said, you need to begin by creating an account, providing your business type and fiscal year data, and exploring its settings, such as inventory tracking or customizing invoices.

The next crucial step is linking your bank accounts and credit cards. This usually lets the software import transactions from the last 90 days, but there might be additional steps to strengthen your data security. If you want to accept online payments, connect to a payment method like PayPal or Stripe.

Once you enter all of the required data, the software’s dashboard will give you a detailed overview of your finances, such as balances, invoices, bills, and payments. The best part is that these dashboards are interactive, allowing you to find more detailed information about anything.

Last but not least, you need to remember that many small business financial management software tools can easily integrate with other business tools, such as CRM platforms. As a result, your workflow will be more simple than ever.

How do I choose the right financial management software for my needs?

In this section, I’ll provide you with some valuable tips that will help you evaluate different financial management software options based on business size, industry requirements, and essential features. Let’s go through my list of criteria you need to consider:

• Business size: The first thing you need to consider is your business size. If you’re running a small business, then you should go for a solution that offers the most basic features and resources so you don’t have to pay for something you don’t use.
• Industry requirements: Another thing you need to consider is the requirements of your industry. Based on this, you will need to focus on different needs, meaning you may need a solution with industry-specific features.
• Essential features: When it comes to crucial features, you need to search for invoicing, billing, tax support, reporting, expense tracking, and payroll. These are the most common features that are part of every business, regardless of its size.
• Scalability: Although you may be an owner of a small business, you probably plan to grow in the future. That’s why you need to focus on scalability options, such as more advanced features and plans for more users. This will ensure the tool will support your growth.
• Integrations: Last but not least, always search for integrations with other systems like payroll or CRM software. This is because they’re crucial for streamlining your workflow and allowing you to grow.

Final word on best small business financial management software

Small business financial management software helps small business owners manage and streamline their financial operations by simplifying key tasks like invoicing and bookkeeping. However, the best software depends on your specific business needs.

That’s why I encourage you to implement the insights from my in-depth article to make an informed choice. Choosing the right financial software, like Xero is crucial. After all, it helps you make better choices because it provides real-data reports that support small business growth.

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