Small business owner = wearer of many hats.

One of those hats is the Accounting hat. If you’re like me, that hat is particularly daunting. As in, it’s a big scary hat that makes me want to curl up in the fetal position and cry.

Why is that? Well, I never had any formal education on the subject. Accounting is an unknown world to me. Yet, I find myself assigned with accounting duties as part of my small business.

So when it came time to find the perfect app to help simplify the accounting process (and make that particular hat less scary), I wanted to check out my options to see which option was going to be the best fit.

I needed something simple, easy to navigate, and well organized. So today, I’m sharing a few of the possible options (that fit within those parameters) you might want to consider for your small business, too.

FreshBooks

FreshBooks has a clean, non-nonsense design aesthetic. I know, I know—it’s about what the tool can do, not how it looks. But because it’s so user-friendly, everything you need is easy to find and works in a logical fashion. And that’s extremely helpful.

Features include:

• Time tracking

• Report generation (P&L statements, balance sheets, etc.)

• Accept credit cards

• Send late payment reminders

• Photo capture receipts

• Works across multiple platforms

• Ties in with other apps (like Paypal, MailChimp, and more)

• Customer support 9 a.m.- 6 p.m. EST M-F

Advantages

Simple to use, mobile-friendly, and covers all the necessary accounting bases.

Disadvantages

Has a few minor tweaks that need made. For example, line items appear in random order.

Free Trial

30 days

Cost

Starts at $19.95/month

Wave

Geared toward freelancers and small businesses with nine employees or less, Wave offers FREE invoicing and accounting tools to entrepreneurs everywhere. You can customize your invoicing and estimates with your company branding and keep an eye on your expenses with no training on how to use the tools. It just makes sense!

Features include:

• Bank account integration (for most major banks)

• Accept credit cards ($.30/transaction + 2.9% charge)

• Dashboard view of monthly income vs. expenses

• Generate reports (sales tax, balance sheet, etc.)

• Add payroll services for $9/month

Advantages

It’s FREE! Totally free. If you don’t have a dime to spend on accounting, this is the place to look.

Disadvantages

Has limited functionality and is not as robust as other accounting apps.

Free Trial

Unlimited free usage for basic tools

Cost

Add payroll for $5 + $4 per employees for 0-10, $1 per employee for 11+

QuickBooks

This tool is more full-bodied and has lots of great features that take the grunt work out of Accounting. Its layout is very similar to that of Wave, but in regard to functionality, it can do much more. This resource covers all the bases!

Features include:

• Print checks

• Mobile receipts

• Multiple users

• Export files to Excel

• Custom invoicing

• Syncs to any device

• Data backups

• Integrates with bank accounts (for most major banks)

Advantages

You can do everything from handle payroll to print out the reports that help you project your financial future.

Disadvantages

It can be tough to get bank accounts and existing accounts connected with this system. You might plan on spending a bit of time on the phone with customer support.

Free Trial

30 days

Cost

Basic starts at $12.95/month

FreeAgent

This resource is geared specifically toward freelancers and is used internationally. Its offerings are more simplified—a no-frills approach to accounting (which is great for freelancers who don’t need more than the basics.)

Features include:

• Custom invoicing and proposals

• Bank integration (most major banks)

• Time tracking

• PayPal integration

• Calculate different sales tax rates

• Thank you notice for payment received

Advantages

Easy to navigate with a great mobile version that helps you track time on the go.

Disadvantages

Multiple currency issues can make it challenging to accept payments from international customers.

Free Trial

30 days

Cost

Basic starts at $24/month USD

ZohoBooks

This easy-to-use platform is part of the Zoho Suite, and is great for small business owners who want a big-picture look at their business. The clean and simple layout makes it easy to find what you need and eliminates the jumble of numbers that make things look messy.

Features include:

• Manual journal entries

• Reconcile accounts

• Review purchase and sales orders

• Mobile access

• Bank integrations (most major banks)

• Convert quotes to invoices

• Connects with PayPal

Advantages

Ties in nicely for those using other Zoho tools and makes life easier on your Accountant come tax time.

Disadvantages

Customer support is lacking—and some of the terminology they use in this system can throw you off.

Free Trial

14 days

Cost

Basic starts at $24/month

My Pick for the Best All-around Accounting App

QuickBooks. It’s affordable, has every feature you could ever need for a growing business, and it’s easy to learn without any formal training.

It’s Not as Scary as It Seems

Accounting doesn’t have to be such a daunting task with the help of these tools.

Take a look for yourself and see which platform is the best fit for your small business needs. You might even discover you enjoy seeing everything fit together nicely in the world of accounting!

Your Turn: What accounting app do you use? Would you recommend it to other business owners? Why?