As the name suggests, accounting software records and processes transactions related to accounting. It is an accounting information system from which the accountants or owners of a business can track the venture’s profits and generate financial reports. Accounting software has features, such as accounts receivable/accounts payable functions, financial reporting, analytics for revenue tracking and budgeting, automated invoicing, and sales tracking.

If you are looking for an efficient accounting software provider for your business, then here is a list of a few highly-rated accounting software providers that you may consider selecting for your business.

1. Sage Business Cloud Accounting
If yours is a small-scale or medium-sized business, choosing this accounting software provider may prove to be a smart decision. Sage is trusted by over three million people and has been offering accounting for approximately 38 years. This accounting software has emerged as one of the most promising tools for small businesses. Apart from managing your data, this software efficiently monitors the flow of money. It is essential for any start-up or growing enterprise to control the business, think of new innovative ideas, and execute them smoothly to achieve higher revenue. However, while focusing on these aspects, administrative and management tasks cannot be neglected. This is when the Sage Business Cloud Accounting service comes to the rescue.

This accounting software offers a variety of services related to different aspects, such as reporting, cash flows, purchases, and sales. It handles transactions seamlessly, connects with your bank, accepts payments, and prepares and sends invoices online. It analyzes performance, optimizes sales, and tracks and controls cash flow. A few other plus points of this accounting software is that it provides full-time online support and comes with a risk-free guarantee of 60 days. With this provider, you have the option of choosing between any one of the two plans. The first plan, known as Sage Accounting Start, costs $10 per month; and the second plan, referred to as Sage Accounting, is more popular according to the provider and costs $7.50 per month.

2. Xero
Xero is one of the most well-established accounting software providers available in the market today. Its objective is to help small businesses across the world thrive with its amazing cloud-based accounting software. Today, it has over 3,500 employees and 2.7 million subscribers across the globe. Some of the services offered by Xero include tax management, purchase orders, project accounting, payroll management, fund accounting, fixed asset management, expense tracking, billing and invoicing, bank reconciliation, accounts receivable, and accounts payable.

Xero has three options in plans, which include Starter ($20 per month), Standard ($30 per month), and Premium ($40 per month). In the Starter plan, you can capture receipts and bills with Hubdoc, reconcile bank transactions, enter five bills, and send quotes and 20 invoices. The Standard plan offers the same as the Starter plan. However, the plus point is that there is no limitation on the number of bills to enter and invoices/quotes to send. Lastly, the Premium plan has the same as the Standard plan. However, it has an extra feature that enables you to use multiple currencies.

3. FreshBooks
FreshBooks is useful accounting software, particularly for small businesses. It provides you with automated tools to help you control your business in a hassle-free manner. This accounting software is a time-saving tool. It automates invoice reminders and puts the business on autopilot mode. A few service offerings of FreshBooks include expense tracking, billing and invoicing, and accounts receivable. The different plans offered by FreshBooks include Lite, Plus, and Premium. Lite costs $6 a month and is applicable for five billable clients. The Plus version costs $10 and is applicable for 50 billable clients. The Premium plan costs $20 and has no limit on billable clients