6 Best Accounting Apps for Small Business Owners

Managing finances is an essential task for any business growth, to make reports, keep track of the resources and also oversee potential threats to the business. This process can be one of the overwhelming tasks for businesses. In today’s digital age, when almost everything has its digital solution, accounting is not an exception. Thus, to facilitate your accounting practices we have prepared for you the top accounting tools. In this article, we will explore 6 super helpful tools and highlight their key features and benefits.

1. QuickBooks

quickboks finance-managment tool

QuickBooks Online is a cloud-based accounting software that helps small businesses manage their finances with ease. It offers an entire toolset that will save you time and money. It’s always important to try and be as organized with your finances as possible and with QuickBooks you can achieve a perfect level of organization. You will be able to track all your incomes and expenses in one dashboard. And manage your business in a better way.

Its key features include:

  • Invoicing
  • Expense tracking
  • Income tracking
  • Financial reporting

One of the app’s standout features is its user-friendly interface. When choosing an accounting tool, always make sure to land on one that makes accounting look easy for small business owners with little to no accounting experience to navigate. With customizable invoices, automatic payment reminders, and the ability to track expenses and income, QuickBooks Online helps small business owners stay on top of their finances, and always be aware without any specific accounting knowledge.

Another key feature of QuickBooks Online is its comprehensive reporting, which provides small business owners with detailed financial reports such as profit and loss statements, balance sheets, and cash flow statements. These reports give business owners a clear view of their financial health, helping them make informed decisions for the future of their business.

QuickBooks Online also integrates with many third-party apps, including:

  • PayPal 
  • Shopify 
  • TSheets

Making it easy to sync data and streamline accounting processes.

Overall, QuickBooks Online is a top-of-the-line accounting app for small businesses, with user-friendly features that make accounting accessible to all. Its comprehensive reporting and third-party integrations make it a must-have tool for small business owners looking to streamline their finances and grow their businesses.

2. Xero

Xero is the second accounting software that we are going to look into in this listicle. It is designed to help small businesses manage their finances with automation. In fact, Xero Automation is the reason it’s 2nd on our list. Its user-friendly interface, customizable invoices, and automatic payment reminders make it easy for small business owners to stay on top of their finances. Also Learn more about the financial  model of solar panel

With key features like:

  • Bank reconciliation
  • Expense tracking
  • Financial reporting

Xero offers a comprehensive solution for small business accounting.

One of the features worth mentioning of Xero is its bank reconciliation. It makes it easy for business owners to match transactions with their bank statements and keep their accounts up-to-date.
It’s also worth mentioning that Xero cares for Its International partners and business. It also offers multi-currency support, making it an ideal solution for businesses that operate internationally.

Another key feature of Xero is its expense tracking, which helps small business owners keep track of their spending and ensure they are staying within budget. It offers real-time data on cash flow, which leaves no room for outdated information on your finances.  

Xero also offers invoicing tools, which are also highly customizable, allowing business owners to create professional-looking invoices that reflect their brand.

Xero’s financial reporting tools are another key feature, providing small business owners with detailed reports such as:

  • Balance sheets
  • Income statements
  • Cash flow statements

This helps business owners get a clear view of their financial health and make informed decisions about the future of their business.

3. Fresh Books

FreshBooks is for business owners trying to streamline their financial management. This software is built both for business owners who try to take their finances under their control or for accountants who want to have a more organized digital workspace.

This tool stands out with features such as:

  • Invoicing
  • Time tracking 
  • Expense tracking 
  • Project management 

FreshBooks is a comprehensive solution for managing your business finances.

I am going to present my personal favorite feature time tracking first. It allows you to keep track of the time you spend on projects and clients. This feature is especially useful for accountants, who bill clients based on the time spent on their projects.

FreshBooks also provides powerful expense tracking tools, making it easy to keep track of your business expenses and ensure you stay within budget. The software also offers project management features, which can help you keep track of project deadlines and team member tasks.

FreshBooks’ financial reporting tools are another key feature, with detailed reports such as։

  • Profit and loss statements 
  • Balance sheets 
  • Expense reports, available at the touch of a button

This helps small business owners get a clear view of their financial health and make informed decisions about the future of their business.

4. Refrens

Refrens is like a magical wand for freelancers and small businesses, making invoicing, accounting & document management a piece of cake! Its user-friendly interface, customizable invoice templates, and automated payment reminders make it an invaluable asset. With Refrens, users can streamline their accounting processes, saving time and ensuring accuracy in their financial records.

Refrens offers users the option to customize their invoices by adding their own logo and personalizing the design to reflect their brand’s unique identity. Additionally, Refrens goes beyond invoice customization by providing users with an all-in-one platform for tracking expenses, generating estimates, and managing clients in one place.

Refrens is more than just an invoicing tool. With this platform, you can create a variety of documents to suit your business needs, including quotations, invoices, purchase orders, payment receipts, delivery challans, and more.

Key Features of Refrens

  1. Free Invoice Generator/Maker – This feature has a very intuitive and easy-to-use interface that allows its users to make invoices in minutes. 
  2. Proforma Invoice Templates – Refrens has a number of professional-looking and customizable proforma invoice templates that can be downloaded as PDF, Email, or Print Proforma Invoices.
  3. Quotation Generator – This free feature of Refrens allows users to create quotes and online estimates, offering professionally-designed templates.
  4. Purchase Order Template – to manage incoming and pending orders, you can take advantage of the feature that Refrens offers, and create purchase orders based on their intuitive templates.
  5. Invoice Generator API – to use this Refrens feature and automate your invoicing process you need to register and create your business account on Refrens, create the invoicing API, and send an API request to create invoices automatically. 

Additionally, Refrens offers a lead management tool, which means you can keep track of potential clients and their progress through the sales pipeline. With all these features and more, Refrens is a one-stop shop for all your invoicing and document management needs.

5. Wave

Our last solution is Wave. It streamlines financial management for small business owners. This tool helps you to “Manage your money like a boss”, which is quite bold and promising. It doesn’t include a list of features that may not be of any use but rather concentrates on the most helpful ones both for small businesses and accountants.

Again as with all of our tools on this list, Wave also offers features such as:

  • Invoicing 
  • Accounting
  • Payroll  
  • Receipt scanning 

One of the key features of Wave is its accounting tool, which simplifies the bookkeeping process with automatic transaction imports and categorization. Wave also offers bank reconciliation, financial reporting, and tax preparation tools to help small business owners stay on top of their finances.

Wave’s payroll feature is also highly regarded, providing small business owners with an easy and affordable way to manage employee pay and taxes.

The feature includes: 

  • Automated tax filings 
  • Direct deposit
  • Employee self-service 

Making it a comprehensive solution for Payroll software for business

Wave’s receipt scanning feature is another valuable tool, allowing users to easily capture and store receipts for expense tracking and tax purposes.

6. TaxLeopard

TaxLeopard is a cutting-edge accounting software designed specifically for the needs of small businesses. Its user-friendly interface simplifies the complex world of accounting and bookkeeping, making it accessible for entrepreneurs with varying levels of financial expertise. TaxLeopard stands out for its comprehensive features that support small business accounting, from invoice management to cash flow tracking.

Key Features:

  • Automated bookkeeping that saves time and reduces errors.
  • Real-time cash flow management to keep your business’s finances in check.
  • Easy invoice creation and tracking to ensure timely payments.

Why TaxLeopard Online is Best for Small Businesses:

  • Cost-Effective: TaxLeopard offers a scalable solution that grows with your business, avoiding the need for costly upgrades.
  • User-Friendly: With its intuitive design, small business owners can easily navigate and utilize the software without extensive training.
  • Comprehensive Support: TaxLeopard provides exceptional customer service, offering guidance and answers when you need them the most.

By integrating TaxLeopard into your small business, you gain a powerful tool that streamlines accounting processes, allowing you to focus more on growing your business and less on financial management.


Managing finances is a crucial task for businesses of all sizes, and today’s digital solutions provide excellent options to facilitate accounting practices.
In this article, we have highlighted five super helpful accounting tools: QuickBooks Online, Xero, FreshBooks, Refrens, Wave and TaxLeopard.
These tools offer a range of features such as expense tracking, time tracking, financial reporting, and many more. QuickBooks Online is a top-of-the-line accounting app that provides comprehensive reporting and third-party integrations. Xero’s bank reconciliation, expense tracking, and multi-currency support are highly useful features for small businesses. FreshBooks streamline financial management with features like time tracking, project management, and powerful expense tracking.
Refrens is an all-in-one platform for invoicing, accounting, and document management. Finally, Wave offers features such as invoicing, payment tracking, and accounting integrations, all for free.

I hope this list helped you make a decision on a tool that will take your finance to a more professional, organized level. Do not forget to check out our blog to find other tools for fields such as email marketing, design, project management, and more.

Moreover, Our knowledge base offers free tips on digital product growth and marketing. There we share our experience, facts, and statistics that can help you make decisions knowing the possible outcome.

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