A look at the best online cloud accounting software programs from http://www.entrepreneurshiplife.com. It includes brief reviews of QuickBooks Online, Kashoo, FreshBooks, Outright, Xero, Bean Cruncher, and Wave Accounting. If you're considering moving your business to the web, check out these cloud-based solutions.
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