You never run out of things to do when you’re a solopreneur or a freelancer. On top of doing the actual work, you also have to spend time on marketing, taking care of your customers, and your accounting. 

Accounting is a crucial part of freelancing or online selling because it’s all about managing your cash flow, keeping your financial records in order, paying your taxes, and making sure you get paid. If your accounting is done properly, your business has a better chance of succeeding. 

And since accounting is just one of the many things you have to do every day, using accounting software to make accounting easier and more efficient can be a huge help. It can save so much time and effort in making sure your calculations are correct and in preparing tax forms and other documents for the BIR.

What are the key features of each software brand?

With so many accounting software brands out there, it can be a real challenge to figure out  the right one for your needs. 

Take a look at the key features and specifications of the top five accounting software brands below to see which features you need the most, and to see which software gives you the best value for your money. (Peso equivalents vary according to exchange rate.)

Software Features/Inclusions Specifications Price
ZOHO Books
  • Customized Invoices
  • Convertible Price Quotations to Invoice
  • Client portal
  • Expense Tracker and Reports
  • Bank transactions integration
  • Inventory Tracking
  • Customized Sales/Purchase Orders
  • Tax monitoring feature
  • Reporting
  • Can be accessed through mobile (iOS/Android)
  • Good for any size or type of business
  • The number of users ranges from 2-10 (depends on your chosen paid pricing plan)
$9 to $29 (₱455 to ₱1,466) per month with 14-day free trial

Take a look at their pricing plans HERE.

Kashoo
  • Expense Tracking
  • Easily upload images of receipts
  • Customizable Invoices
  • Insightful financial reports for accurate tax filing
  • Credit card payment setup
  • Real-time bank feeds
  • Accessible through mobile devices
  • Ideal for small businesses
  • Multiple users for paid plans
$19.95 (₱1,008) a month or $199  (10,056) per year with 14-day free trial

Take a look at their pricing plans HERE.

QuickBooks
  • Expense tracking for faster tax filing
  • Customizable invoices, sales receipts, and estimates/quotes
  • Customizable report dashboard
  • Integrated with cash flow management
  • Automatic backups through cloud
  • Bank level security (128-bit SSL encryption)
  • Free unlimited support
  • Accessible online through various devices so you can work remotely
  • Good for small to medium businesses
  • With free mobile app
  • With access sharing
  • One user up to 25 users plus 1 accountant (depending on your chosen pricing plan)
$15 to $31 (758 to ₱1,567) per month with free 30-day trial

Take a look at their pricing plans HERE.

SAP Business One
  • Financial management integrations
  • Business intelligence
  • Sales and customer management
  • Purchasing and inventory control
  • Modular structure
  • Ideal for small to midsize businesses
  • Accessible through mobile phones and desktop
Price depends on the numbers of users

Check out where to look for SAP Partners HERE.

Xero
  • Easily customizable invoices
  • Cashflow Real-time view
  • Invoice processing
  • Inventory management
  • With 700+ third-party apps
  • With file management feature
  • QuickBooks users can convert their files through the free conversion tool upon sign up
  • Free 24/7 online support
  • Accessible through mobile phones and desktop
  • Compatible to various apps
  • Access sharing to various team members
  • Optional extras
  • Projects: $7 for 1 user/month + $5 for each additional active user / month. First month free for any number of users (only applies to existing Xero subscribers).
  • Expenses: $4 /month for one user $4 /month for each additional active user/month.
$30 (1,516) per month (RECOMMENDED) with 30-day free trial

Take a look at their pricing plans HERE.

 

If you can’t afford any of these brands for now, you can always use the free Excel templates you can find online like those from SmartSheet.

Do you need help with using accounting software or spreadsheets? Ask an accountant from one of our Partner Firms, today.