Since small businesses have limited resources, they were reluctant to subscribe to accounting software for their needs. It led them to spend more on inefficient and inaccurate bookkeeping and accounting processes because of the inherent disadvantages of traditional accounting. However, with the change in time, it becomes necessary for these firms to update their techniques. That is why multiple cloud-based accounting software has come up to cater to the accounting needs of small businesses. Cloud-based accounting applications are a new rage that every business must employ to maximize operational efficiency. The numerous options may confuse you, so we have curated a list of the best cloud-based accounting software for you:

Quickbooks accounting:

Developed by Intuit, Quickbooks accounting software is a cloud application catering to small business accounting needs. It allows firms to carry out numerous operations specific to your business, like payroll and VAT. Several tools help in reporting and monitoring the financial performance of the company. It allows connection and integrations with over 700 applications to streamline the operations and save time on data entry, payroll, backups, and inventory management. Its prices are pretty affordable. 

Xero accounting:

Xero accounting software is one of the best cloud based accounting software and is pretty popular among small businesses in the UK. It is because there are many features related to invoicing, inventory, payroll, and expenses claims. You can access it on both Apple and Android systems, and it enables the import of bank, credit card, and data from other apps. You can also prepare and submit VAT and other regulatory files online. 

Zoho Books accounting software:

Zoho accounting software enables integrations with applications that exist in your processes. Customization helps you add a personal touch to your accounting processes. It is a cloud-based software with multiple invoicing, expense, and time-tracking features.

You can get real-time access to your data and cash flow using the best cloud based accounting software.  It is also compatible with Making Tax Digital.

Freshbooks accounting software:

Freshbooks accounting software is one of the best cloud-based accounting software due to its ease of use and no technical jargon. It focuses on basic accounting needs like invoicing and payroll to cater to the needs of freelancers and small firms. It integrates with multiple applications to streamline your processes. It ensures compliance with the regulations and offers a free trial to match its compatibility with your existing systems. 

Sage accounting software:

Sage accounting software takes care of small, medium, and large-sized businesses with its vast array of options for all. From invoicing and payroll to cash flow and accounts management, it excels in every aspect of accounting for firms.