![]() 12 Payroll service services start at $249 per year. Though the product requires desktop installation, users can also access features via a website and free mobile apps.ĪccountEdge Pro has a one-time license cost of $399 for up to 10 users AccountEdge Basic, a single-user version with fewer features, is $149. 11 AccountEdge Pro includes a very broad range of features for managing contacts, sales and purchases, time billing, inventory, and payroll. 10 However, another review notes that it is not as easy to use as the online-only products. ![]() It is highly rated in several reviews one says the product’s depth, flexibility, and customizability is unmatched by other cloud-based or desktop applications, and describes it as a best choice for businesses whose accounting needs are too complex for cloud-based money management services. 9ĪccountEdge Pro (formerly known as MYOB and owned by Priority Software since early 2018) is one of the few remaining desktop-based small business accounting applications. Payroll services, however, cost an extra $39 to $99 per month, plus $2 per employee. The top tier supports multiple users and adds features such as inventory and project tracking and generation of 1099 tax forms for contractors. 8 The lowest price lets a single user track income and expenses, create invoices and estimates, and connect to bank accounts and add-on applications. 7ĭisadvantages of QuickBooks Online include the relatively high subscription cost, which ranged from $20 to $60 per month as of December 2018 (although temporary discounts were available). 5,6 QuickBooks Online can also integrate with hundreds of third-party products that provide additional capabilities. Reviewers highlight features such as inventory tracking, highly customizable reports, flexible transaction formats and contact records, project-based billing and cost management, and add-on payroll services. The company now offers a cloud-based service, QuickBooks Online, which several reviews rated among the best money management software offerings for its comprehensiveness, flexibility, extensibility, and ease of use. Intuit’s QuickBooks has been one of the most widely used desktop money management software products since the 1990s. Most suppliers offer free trials, making it easier to evaluate several offerings before taking the plunge. 3,4 It’s important to consider the cost not only for the core money management software but also for additional services. With some money management software, features like inventory management, payroll services, project management and estimating capabilities are built in other products provide those features via add-on services, integration with other products, or not at all. Some products enable businesses to accept electronic payments, for a fee. ![]() Most money management software for SMEs supports double-entry bookkeeping. ![]() Key features to examine include basic record-keeping capabilities, ease of learning and use, ability to import data from other software and from financial institutions, invoice creation and payment tracking, customizability and scalability, the number of users supported, multi-currency capabilities, and the availability and quality of support. Those products can be faster to use, and work even if a business’s internet connection goes offline. 2 However, for SMEs that prefer to keep their data within the office, a handful of desktop money management software products still exist-though even they are adding cloud-based features such as mobile apps and online access. 1 In general, the shift to the cloud has resulted in benefits such as greater ease of use and the ability to access services from anywhere most vendors also offer some features via free mobile apps. Today, all new money management software offerings are cloud-based services sold on a subscription basis no completely new desktop accounting packages have been introduced for over two decades, according to a PC Magazine analysis. What to Look For in the Best Money Management Software Here are six of the best money management software products and online services for SMEs, based on an analysis of information from published reviews and other online data sources. They also vary greatly in cost and support for specific features. Some products are relatively simple offerings designed for sole proprietors or companies with just a few people others are more complex and full-featured accounting systems for larger SMEs with multiple employees. So, the choice of what’s really the best money management software for any SME will depend on the specific needs of its business. But businesses vary widely, and so do these apps and services.
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