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The Best Online Cloud-Based
Accounting Software
http://www.entrepreneurshiplife.com
Why Cloud-Based Accounting?
• More companies are mobile – especially
entrepreneurs and solopreneurs
• Allows access to key company metrics
anywhere
• Many options allow mobile payment
processing
• Syncing across multiple devices – desktop,
laptop, tablet, phone
QuickBooks Online
Positives
• Most robust online
accounting software
• Solid payroll integration
• Lots of additional add-on
applications (CRM, etc.)
• Intuit – Industry leading
company
Drawbacks
• Price: Cheapest option
starts at $12.95/mo, or
$155 per year. Cheapest
option with payroll is
$63/mo
Freshbooks
Positives
• Great online invoicing
features
• Full accounting and
payment processing
integrated
• Allows collaboration for
teams
• Automatically downloads
bank transactions
Drawbacks
• Pricing is based on number
of clients – free version
allows 3 clients, up to 25
clients is $19.95/mo, then
unlimited clients at
$29.95/mo
• Difficult to use for some
organizations due to
reliance on invoicing
Kashoo
Positives
• Automation – most
automated of the online
cloud accounting programs,
in terms of downloading
form your bank
• One of the best “free” levels
of accounting software
• Native iPad and iPhone apps
Drawbacks
• No invoicing
• Paid level for the “good
stuff” starts at $10/mo and
payroll processing at
$20/mo
• No built-in payment
processing
Outright
Positives
• Great automation (very
similar to Kashoo)
• Free option is very robust
• Best pricing of the
companies for paid options
Drawbacks
• Limits reporting to the paid
option (beyond basic profit
& loss statements)
• Pricing: $9.95/mo – but it is
their only level
• No payroll or payment
processing
Bean Cruncher
Positives
• Newest Option – Learns
from other competitors
• Solid, fast interface
• Main dashboard is
incredibly useful
• Very robust accounting
features and reporting
Drawbacks
• Lack of integrated payment
processing and payroll
• Price based on customers -
$19 for up to 150
customers, $39 for 500
customers, and $99 for
unlimited
Xero Online Accounting
Positives
• This is the most comparable
to QuickBooks (even
desktop Quickbooks)
• Add-on features like CRM
• Integration with
accountants and
bookkeepers
• Excellent training programs
• Native apps for iPhone and
Android
Drawbacks
• No built-in payment
processing
• Price: $19 for 5 invoices per
month, $29 for 100s of
invoices, and a multi-
currency edition for $39
Top Pick: Wave Accounting
Positives
• Free
• Robust options, including
invoicing
• Built-in payment processing
at a flat 2.9%
• Automatic account
downloads and integration
Drawbacks
• Sometimes slow user
interface
• Would like to see more
reporting options

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The Best Online Cloud Accounting Software Programs

  • 1. The Best Online Cloud-Based Accounting Software http://www.entrepreneurshiplife.com
  • 2. Why Cloud-Based Accounting? • More companies are mobile – especially entrepreneurs and solopreneurs • Allows access to key company metrics anywhere • Many options allow mobile payment processing • Syncing across multiple devices – desktop, laptop, tablet, phone
  • 3. QuickBooks Online Positives • Most robust online accounting software • Solid payroll integration • Lots of additional add-on applications (CRM, etc.) • Intuit – Industry leading company Drawbacks • Price: Cheapest option starts at $12.95/mo, or $155 per year. Cheapest option with payroll is $63/mo
  • 4. Freshbooks Positives • Great online invoicing features • Full accounting and payment processing integrated • Allows collaboration for teams • Automatically downloads bank transactions Drawbacks • Pricing is based on number of clients – free version allows 3 clients, up to 25 clients is $19.95/mo, then unlimited clients at $29.95/mo • Difficult to use for some organizations due to reliance on invoicing
  • 5. Kashoo Positives • Automation – most automated of the online cloud accounting programs, in terms of downloading form your bank • One of the best “free” levels of accounting software • Native iPad and iPhone apps Drawbacks • No invoicing • Paid level for the “good stuff” starts at $10/mo and payroll processing at $20/mo • No built-in payment processing
  • 6. Outright Positives • Great automation (very similar to Kashoo) • Free option is very robust • Best pricing of the companies for paid options Drawbacks • Limits reporting to the paid option (beyond basic profit & loss statements) • Pricing: $9.95/mo – but it is their only level • No payroll or payment processing
  • 7. Bean Cruncher Positives • Newest Option – Learns from other competitors • Solid, fast interface • Main dashboard is incredibly useful • Very robust accounting features and reporting Drawbacks • Lack of integrated payment processing and payroll • Price based on customers - $19 for up to 150 customers, $39 for 500 customers, and $99 for unlimited
  • 8. Xero Online Accounting Positives • This is the most comparable to QuickBooks (even desktop Quickbooks) • Add-on features like CRM • Integration with accountants and bookkeepers • Excellent training programs • Native apps for iPhone and Android Drawbacks • No built-in payment processing • Price: $19 for 5 invoices per month, $29 for 100s of invoices, and a multi- currency edition for $39
  • 9. Top Pick: Wave Accounting Positives • Free • Robust options, including invoicing • Built-in payment processing at a flat 2.9% • Automatic account downloads and integration Drawbacks • Sometimes slow user interface • Would like to see more reporting options