15 Most Popular Cloud Accounting Software for 2023

Today, it is necessary for businesses to use the right technologies to streamline work processes. Among these core processes is accounting. With this in mind, it makes sense that a company’s cloud accounting software is one of its most crucial tools. Over the years, these solutions have undoubtedly revolutionized the way companies handle their transactions. However, with the growing number of accounting software providers, it can be overwhelming to pick one for your business.

One by one, this article will present the top 15 cloud accounting software that most businesses use today. The unique features of each cloud accounting software will be highlighted to help you identify which one best fits your business. Details on pricing are also included so you will have an idea of how much it would cost to deploy each particular solution.

Enterprises can gain a staggering $4.14 billion in net new profits if they can effectively roll out cloud adoption. This specific link between business profit growth and the use of cloud technology is a result of expanding business capacity, unlocking value from data through the use of AI, and fostering collaboration, among others. The flexibility, scalability, and accuracy as delivered by cloud technology promote streamlined workflows that make room for rapid growth.

Cloud accounting software has transformed financial and accounting management by driving efficiency. Accounting reports can now be generated instantly from any device, invoicing and expense management are automated, and even your accountants can access and check your books anytime. Even small business owners can do accounting management by using cloud accounting software, all they have to do is upload receipts, link financial channels, and let the software do the income and expense tracking.

As business capabilities are enhanced by streamlining processes, the benefits of cloud accounting software are not limited to financial and accounting management alone but will affect the entire business operations. The following list of cloud accounting software provides the capabilities and features of these tools that are designed to facilitate collaboration and optimize workflows. We have highlighted the unique offerings of each software so you can compare which can best meet your business requirements.

Top 15 Cloud Accounting Software 

1. NetSuite ERP

NetSuite ERP is a web-based ERP software that includes a cloud accounting tool that transforms your general ledger, optimizes AR, streamlines tax management, and automates AP. This cloud accounting software improves financial controls by simplifying and streamlining the accounting process.

NetSuite ERP automatically eliminates duplicate data entry, thus increasing the accuracy of your data. Your access to real-time information and metrics provide you with more insights as you manage your day-to-day operations. As you work to speed up financial reconciliations, NetSuite ERP ensures that all your transactions comply with accounting standards.

What NetSuite ERP provides is a unified view of your business from a single platform that brings together finance, manufacturing, supply chain, ecommerce, and HR in one system. NetSuite ERP can integrate with your existing CRM and web investments and other third-party solutions.

Price: The cloud accounting software is included with the NetSuite ERP platform license. If you are interested to learn more about the pricing for this product, you may contact the vendor to request a quote.

NetSuite ERP

Try out NetSuite ERP with their free trial

What is unique about NetSuite ERP?

1. Strong compliance management. The robust finance and accounting functions of NetSuite ERP does not only ensure accurate bookkeeping but also ensure that your accounting methods are compliant with accounting standards. Compliance management is integrated with every functionality of this cloud accounting software.
2. Automated AR and AP. NetSuite ERP automates every aspect of payment processing, invoice delivery, and collections management. By streamlining your processes, liquidity is increased and you can collect faster and generate additional funds for growing your business.
3. Fixed assets management. Managing the complete lifecycle of depreciating and non-depreciating assets can take up a lot of time. NetSuite ERP tracks assets across all facilities with the fixed-asset accounting solution feature that is fully integrated with the platform.

2. Paychex

Next on our list of the most popular cloud accounting solution is Paychex. Equipped with a proprietary payroll processing technology, Paychex simplifies payroll and payroll tax administration and more for businesses of all sizes. Paychex offers easy-to-use tools that enable you to run your payroll online and via the mobile app. And if you prefer running your payroll hands-free, you can activate Paychex Voice Assist. This is a trademarked voice-activated technology that allows you to review, approve, and submit checks and receive real-time data insights without having to click a single button.

Paychex also supports employee self-service functionality, which gives your employees control over updating their personal and banking information, accessing their payslips and tax forms, and more. And when it comes to generating reports, Paychex makes it easier with the help of more than 160 standard report templates. You also have the option to create report templates that are fully customized to generate the data you need. As for its integration capabilities, Paychex API gives you the freedom to connect it with your other software systems to further streamline your business processes.

Paychex

Try out Paychex with their free trial

What is unique about Paychex?

1. Hands-free payroll service. Paychex utilizes its own voice-activated technology, Paychex Voice Assist, to process your payroll while you focus on other important tasks.
2. Expert guidance from professionals. Paychex partners with accounting and banking professionals and financial advisors who can provide consultation services.
3. Fully integrated HR solution. Beyond payroll services, Paychex also provides accounting professionals with a comprehensive HR solution that simplifies employee management, compliance, and more.

3. QuickBooks Online

QuickBooks Online is the cloud accounting software designed with small businesses, freelance professionals, start-ups, and bookkeepers in mind. This feature-packed accounting software solution has a suite of tools that cover invoice management, expense tracking, tax calculation, and sales monitoring.

This software employs advanced and industry-recognized security standards, ensuring that your accounting data is secure all the time. You can access and manage your financial data anytime from any device, and even collaborate with your accountant and stakeholders on the cloud. With real-time data, you can gather more insights and make faster decisions for your business.

QuickBooks Online easily integrates with other Intuit applications and other third-party applications such as Shopify and Paypal. To extend the software’s functionalities you may use QuickBooks with Bill.com, Method CRM, and other apps.

Price: Pricing for QuickBooks starts at $8 per month for the self-employed and new micro-businesses. The next tier for growing businesses is at $12 per month for three users plus, an accountant.

QuickBooks Online

Try out QuickBooks Online with their free trial

What is unique about QuickBooks Online?

1. Automates your workflow. QuickBooks Online automates data collection, which ensures that your accounting records are always updated. Instant data collection facilitates the quick gathering of important data that can guide your key decisions.
2. Accessible platform. Since QuickBooks Online is completely web-based, you can view your account from any device, anytime. You can generate reports, or make a quick check of cash flow using your smartphone.
3. Enhanced data protection. Your financial data is safe with QuickBooks Online as this software comes with intuitive security options. Your books are protected by advanced, industry-recognized security safeguards that will keep your financial data confidential.

4. Tipalti Approve

Tipalti Approve is an end-to-end procurement to payment solution software for mid-sized businesses. It provides simple and customizable procurement processes that cover purchase requests, purchase orders, approval flows, and vendor onboarding. The simple UI of Tipalti Approve is well-designed and allows procurement and finance teams to easily access transaction details and other data in one platform.

Tipalti Approve allows employees to create and submit requests as part of the procurement procedure. The automatic routing facilitates a faster approval process while ensuring that all requests are within predefined parameters.

With Tipalti Approve, you do not need to change your current financial tools as this software seamlessly integrates with leading SSO, ERPs, and HR systems. The simple yet robust platform of Tipalti Approve easily integrates with Google, Okta, Onelogin, and Slack.

Price: Tipalti Approve lets the customer experience their cloud accounting software solution through a product demo before providing a quote. You may contact the vendor to request a free demo.

What is unique about Tipalti-Approve?

1. Vendor onboarding. The vendor wizards feature of Tipalti Approve puts all vendor information in one place. The vendor database gives you quick access to vendor information and updates you on contracts for renewal and renegotiation.
2. Automatically updates order status. The requisition system has a “goods received” feature that helps keep track of all issued POs. This functionality automatically updates the platform, which can be also be forwarded instantly to the ERP system.
3. Custom reporting. The Tipalti Approve team can customize your dashboards, graphs, and reports so you can easily get insights from your data. As you get real-time reports, you can easily monitor cash flows and spending.

5. FreshBooks

FreshBooks is a cloud-based finance and accounting software that supports freelancers, self-employed professionals, businesses with employees, businesses with contractors, and other business types. The features and capabilities of FreshBooks are designed for both business owners and accountants.

FreshBooks streamlines client invoicing and time tracking processes and offers a powerful set of features for growing businesses. Even freelancing professionals that do not have an accounting background can easily deploy the software.

FreshBooks allows for customization, giving your company advantages when it comes to branding and marketing your services. You can modify the design, colors and add your logo to financial documents to make it more professional. FreshBooks easily integrates with over 100 apps, which means that you can easily connect the platform with your other applications.

Price: Pricing starts at $6 per month for professionals with basic needs and five billable clients. For business owners that require more automation and insights, the Plus plan at $10 per month allows billing for up to 50 clients.

What is unique about FreshBooks?

1. Smart double-entry accounting tools. This feature identifies revenue items and their related expenses, providing an accurate calculation of profits and losses. By ensuring debit and credit amounts are equal, errors are minimized.
2. Customized and automated invoice. The invoicing feature saves you a lot of time. Aside from the customization features that can enhance your branding, Freshbooks allows you to put your business on auto-pilot as the software takes care of follow-throughs on client payments.
3. Automatic expense tracker. The powerful and simple expense tracker allows you to track expenses in real-time, which gives you a glimpse of your financial status. By connecting your bank account and credit card to FreshBooks, your data will always be updated with the latest spending.

6. AvidXchange

AvidXchange is a cloud-based accounts payable software that provides end-to-end invoice management, including payment automation. This software allows you to review, code, and approve payments from a simple and easy-to-use dashboard. AvidXchange offers superior features such as paperless invoicing, PO automation, and B2B payment processing.

The AvidXchange platform includes four modules—invoice automation, bill payment automation, purchase order automation, and utility bill management. By automating these four workflow areas, efficiency is increased which translates to lower operating costs. AvidPay provides paperless payment management, while AvidInvoice streamlines the entire invoice process while matching current approval workflows.

You can access the AvidXchange platform anytime, and collaborate with your team for optimal AP management. This AP automation software has built more than 210 integrations and is ready to work with your accounting system.

Price: If you are ready to find out how AvidXchage can automate your payment processes, you may request a free demo. A quote for your business requirements may be requested also from the vendor.

What is unique about AvidXchange?

1. AvidPay facilitates faster payment processing. The fully online payment system facilitates payments with just a few clicks. Settle invoices and schedule your payments for optimized cash flow.
2. Electronic process reduces fraud. Unauthorized transactions are minimized with paperless invoice processing and electronic payments. You can also monitor the status of every invoice through the easy-to-navigate dashboard.
3. Secure transactions. AvidXchange comes with a secure SSAE 16 Facility, plus a suite of sophisticated disaster recovery procedures. Dedicated specialists are also accessible 24/7 to provide assistance.

7. Rossum

Rossum is a document management software that automates data entry by digitally extracting data from various documents. This all-in-one document management software has an Intelligent Inbox from which documents are filtered and organized into custom categories. Rossum employs self-learning AI technology for faster data capture and document processing.

With its robust architecture, Rossum produces as much as a 90% reduction in manual data entry, which significantly reduces accounting costs. In addition, the data capture technology promotes greater accuracy and eliminates errors and duplicates. The Usage Reporting Dashboard provides information on all the data captured, from extraction to storage.

Rossum facilitates easy integration by providing out-of-the-box and custom integrations, depending on the needs of the client. The software easily integrates with ERP systems, RPA systems, document management systems, and other apps.

Price: The volume of documents you are receiving as well as the features that your company requires will determine the pricing for your Rossum subscription. You may contact the vendor to request a quote.

What is unique about Rossum?

1. Unifies all mail channels. Rossum streamlines your document communication in a single feed, all transactions in one platform. By providing a single document gateway, all communications are pre-processed and analyzed while at the same time enforcing confidentiality.
2. Cognitive data capture. Rossum can extract data from a variety of document formats and layouts while the self-learning AI engine continually adapts based on your corrections. Rossum also matches your vendor, product, and PO lists through deep integration.
3. Fast document processing. Rossum drives efficiency by promoting accuracy. As the time it takes to process transactions is reduced, both time and cost savings are channeled into business growth initiatives.

8. A2X

A2X is an ecommerce accounting software that automatically records transactions from sales channels such as Amazon and Shopify to your accounting platform. This cloud-based software provides accurate bookkeeping and eliminates manual accounting activities.

A2X categorizes fees, refunds, and other expenses that are typically incorporated with payouts. A2X classifies each transaction, makes a summary of sales and expenses, and provides a quick view of your cash flow. A2X helps you monitor your stock room by tracking the cost of goods sold as well as the gross margins of moving products.

Aside from simplifying accounting for Marketplace and eBay, A2X also integrates with other widely-used accounting platforms like Quickbooks and Xero. You can easily migrate your financial data to your books by using this software.

Price: A2X pricing is based on the type of ecommerce platform, and whether the merchant has one or multiple IDs. For a merchant with a single ID that sells on Amazon, the Mini Plan with a cap of 200 orders per month starts at $19 for one month.

What is unique about A2X?

1. Automatically splits settlement statements. You can accurately evaluate your company’s performance with A2x because this software categorizes transactions per month into separate entries. If your settlement involves transactions that lasted for more than a month, A2X will also organize your data.
2. Fast reconciliation. A2x automatically matches every journal entry that you post on the platform. Just match the payment received with the A2X entry and the system will take care of reconciliations.
3. Easy to set up and scalable. A2X easily integrates with leading accounting and ecommerce platforms. This easy-to-configure software also allows you to backdate your settlement statements.

9. Trolley

Trolley is an accounts payable software designed to accommodate the requirements of businesses that handle mid- to high-volume AP transactions. This software is equipped with end-to-end tools that facilitate seamless payouts workflow, including white-label email confirmations, payment handling, and bank validation.

Trolley allows you to send payments to more than 200 countries. This AP software has a robust infrastructure that lets you make cross-border payments by facilitating mass payouts to customers. Manage payouts in multiple currencies through your access to both global and local banks in more than 60 countries, with a network of over 135 currencies.

With Trolley you can maintain liquidity while at the same time ensuring on-time payments. This software easily integrates with various accounting, ecommerce, project management, CRM, and other apps that can lead to enhanced workflows.

Price: Pricing starts at $49 per month for the entry-level plan, which includes white-label email notifications to recipients. There are three different subscription plans available, including the quote-based enterprise pricing.

What is unique about Trolley?

1. Automated payout. The Internet economy requires robust systems that simplify processes. Trolley is a global payout platform that automates payments while at the same time ensuring that all recipients are verified.
2. Tax compliant transactions. Trolley collects payee identifications and tax information. Following IRS requirements, tax forms are completed by the tools integrated into the platform.
3. Bank-level encryption. The security features of Trolley offer bank-level security. You can operate in full confidence with the suite of tools that provide multi-layer data protection.

10. DocuPhase

DocuPhase is a business process and accounting automation solution that simplifies workflow through document management, AP and AR automation, and workflow automation. The document management tool offers advanced search and accessibility features while at the same time securing all your data.

DocuPhase streamlines the AP process with a pre-defined routing system and three-way matching. The intuitive payment portal of DocuPhase provides solid support to cash flow, reporting, and reconciliation. Flexible customer payment options also form part of the AR automation feature.

DocuPhase employs OCR technology to capture, extract, and validate data from incoming documents, which significantly reduces time spent on paperwork. The easy integration of DocuPhase with other ERP systems leads to efficient day-to-day operations. Among the platforms that DocuPhase has integrations with are NetSuite, Microsoft Dynamics GP, and Acumatica.

Price: Quote for DocuPhase is provided by the vendor. The total cost of software investment will depend on the required components and the number of licenses.

What is unique about DocuPhase?

1. Facilitates faster vendor and customer payments. When customers can use their preferred payment methods, you get to collect payments faster. The vendor payment automation sets up payments based on the vendor’s preferred methods.
2. All-in-one accounts payable. DocuPhase automates the AP process from purchasing to invoice approval to payments. This end-to-end AP automation reduces errors in data entries and increases the accuracy of documents.
3. Optical Character Recognition technology. DocuPhase employs OCR technology for its intelligent document management system. Extract only the information that you need and eliminate unnecessary data keying.

11. Zoho Books

Zoho Books is an online accounting software that automates workflows, manages your finances, and facilitates collective work across departments. Designed for both small and high-growth businesses, this intuitive cloud-based accounting system facilitates easy collaboration through its role-based access functionality.

The integrated platform of Zoho Books allows you to add more of Zoho’s over 40 apps to help you manage your business at every stage of growth. You can create and track payments easily with built-in reminders.

Zoho Books can generate real-time reports on inventory summary, tax summary, and profit and loss statements. More than 50 business report types can be generated by Zoho Books that will keep you on top of your business.  Out-of-the-box integration is available for payment gateways, cloud integrators, POS apps, documents, and other software. These features make Zoho Books a reliable accounting software for small business to consider.

Price: Zoho Books offers a free subscription plan for businesses with a yearly turnover of less than $50,000. Pricing starts at $10 per month for the standard plan, $20 for the professional, and $30 for the premium.

Zoho Books

Try out Zoho Books with their free trial

What is unique about Zoho Books?

1. Out-of-the-box integrations. The powerful APIs of Zoho Books allow you to do integrations and add partner apps. This includes payment gateways, Zoho apps, cloud integrators, documents, POS apps, G Suite, and other productivity software.
2. Simple and affordable pricing. Aside from offering free subscriptions for businesses that earn less than $50,000 per annum, the pricing of Zoho Books is very affordable, given the software’s powerful functionalities. This makes Zoho Books an accessible cloud accounting software.
3. Accounting management on the go. Since Zoho Books can be accessed from any device, the mobile app adds more convenience to business owners who want to have easy access to their accounting platform even when they are on the fly. You can manage your finances and collaborate with your team anytime.

12. Zoho Expense

Zoho Expense is a cloud-based expense management software solution that automates expense reporting and streamlines corporate travel. This software solution equips you with all the tools that you need to have complete control of your company’s spending. Gain important insights from the data collected on the platform and make informed decisions as you grow your business.

By simplifying spending guidelines, Zoho Expense also simplifies employee compliance. As a result, streamlined expense reporting provides real-time spend visibility. The end-to-end expense reporting automation lets employees record expenses on the go. You can also add your company cards to the platform and automate reconciliation.

Zoho Expense easily integrates with accounting and invoicing platforms, travel apps, online reimbursement software, HR and project management platforms, and collaboration tools.

Price: Small businesses and freelances with up to 3 users can use the Zoho Expense app free of charge. Pricing for growing businesses starts at $75 per month per active user.

Zoho Expense

Try out Zoho Expense with their free trial

What is unique about Zoho Expense?

1. Complete expense management tool. Manage receipts, expenses, and track mileage in one platform. Zoho Expense simplifies expense reporting and gives employees more time for delivering an excellent customer experience.
2. Robust reporting. The automation tools of Zoho Expense provide convenience when it comes to preparing reports. The expense report management and expense report automation facilitate an easy expense reporting system.
3. Expense control. Using predefined rules and policies, Zoho Expense lets you keep spending under control. Aside from the expense rules, Zoho Expense allows you to set budgets and put a lid on spending.

13. Sage 50cloud

Sage 50cloud is a cloud-based accounting solution with powerful accounting and finance features for small and mid-sized businesses. Rated as the top accounting software for small businesses, Sage 50cloud takes charge of administrative tasks with features that enhance productivity, such as the cash flow manager automatic bank reconciliation function.

The advanced inventory feature of Sage 50cloud computes and tracks costs and quantities by item code daily, and each time you post a purchase or a sale, inventory is adjusted accordingly. The jobs management functionality provides you information on how and where you are spending and gives insights on job costing.

Sage 50cloud integrates with various business systems and applications such as Microsoft Office 365, Bill.com, Skype, and BQE Core. The Sage Marketplace is where you can find all the apps that can be easily integrated with Sage 50cloud accounting.

Price: Sage 50cloud offers three subscription plans—pro accounting, premium accounting, and quantum accounting. Pricing starts at $56 per month.

What is unique about Sage 50cloud?

1. Cash flow manager. This powerful invoicing system provides an instant snapshot of your cash flow and gives you a clear picture of your finances. For a more detailed view, you can customize the cash flow settings by changing the time frame or filtering transactions.
2. Payroll Setup Wizard. Sage 50cloud helps you simplify your payroll process with direct deposits, pay cards, and direct deposit checks. The time tickets feature allows you to create paychecks based on the hours recorded on the time tickets on a given payroll period.
3. Over 150 one-click reports. Data is crucial in making informed business decisions. Sage 50cloud provides more than 150 accounting and financial reports on payables, receivables, sales taxes, profits, expenses, inventory, payroll, and job costings.

14. Xero

Xero is an online accounting software made for small businesses, accountants, and bookkeepers. With its powerful and intuitively designed dashboard, Xero has all the features and tools that you need to run your business. It lets users track and pay bills on time, capture costs, monitor spending using the expense tracker, and even set up bank feeds.

With Xero, you can also track your projects, from providing estimates to invoicing. The contact management feature allows you to manage your contacts and accounting processes in one platform. For accountants and bookkeepers, Xero offers customized solutions such as the Xero HQ for the management of clients and staff, Xero Cashbook, and Xero Ledger.

You can integrate Xero with various payment gateways to facilitate faster payments. This software easily integrates with over 800 apps that will expand your platform’s capabilities.

Price: Pricing for Xero starts at $22 for the starter plan, which is ideal for new businesses, sole traders, and self-employed professionals. Optional add-ons include functionalities for claiming expenses, tracking projects, and analytics.

What is unique about Xero?

1. Multi-currency accounting. The multi-currency accounting feature allows you to pay and get paid in over 160 currencies and use instant currency conversions. You can set the currency for specific contacts and edit exchange rates.
2. Send online invoices on the go. You can send invoices directly from the mobile app. The invoicing software automatically sends invoices as soon as the job is done.
3. Secure transactions. The multiple approval model and two-factor authentication security feature provide security for all transactions. Every transaction is recorded with a detailed list of actions performed, including the users, date of access and transaction, and manual notes.

15. Sage Business Cloud Accounting

Sage Business Cloud Accounting is a cloud accounting software designed for the needs of small businesses. This software provides time-saving automation capabilities for bookkeeping, invoicing, and remote access.  Sage Accounting is easy to set up and automates your workflow by posting expenses and payments directly from your linked accounts.

You can also share your account access with your team or with your accountant for easier collaboration. Sage Accounting allows you to automatically send and track invoices, and send customized quotes and estimates to your clients.

With Sage Accounting, you can confidently manage your cash flow and get insights anytime from the dashboard visuals. The easy-to-use interface gives you access to your financial metrics anytime, from any device. Sage Business Cloud Accounting easily integrates with other apps such as AutoEntry, Stripe, and Zynk.

Price: Pricing starts at $10 per month for entry-level requirements, which typically include the self-employed and micro-businesses, For small businesses that require more powerful cloud accounting software, Sage Accounting starts at $25 per month.

What is unique about Sage Business Cloud Accounting?

1. Complete accounting automation. From invoicing, billing, AP, and AR management, to tracking expenses, Sage Accounting streamlines the entire accounting process. When your workflow is automated, you can save time and reduce expenses.
2. Simple interface. The Sage Business Cloud Accounting dashboard gives you a snapshot of the financial status of your business. You can easily check transactions and track expenses from a single dashboard enabling you to easily monitor your finances.
3. Unlimited users. Unlike other cloud accounting software that limits the number of users per pricing plan, the Accounting subscription allows for an unlimited number of users. This provides you with more room to invite your team for collaboration.

Fast Track Growth with Cloud Accounting Software

The increased efficiency and productivity delivered by cloud accounting software has transformed and enabled businesses to flourish, even amid challenging industry climates. If you are in the process of choosing cloud accounting software for your business, consider your workflow requirements as you evaluate the features of each product.

Based on our evaluation, NetSuite ERP is the best cloud accounting software. The automation of accounting processes, plus, the customization features will instantly make your accounting management more efficient. NetSuite ERP organizes your workflow and lets you focus on growing your business. To further examine the platform for yourself, it offers a free trial that you can sign up for.

Should you decide to evaluate other options, take into account the changing accounting software technology landscape. Every dollar of your investment counts, thus it pays to dig deeper to become aware of the shifts in accounting practice as well as the computing technologies that transform accounting processes.

By Nestor Gilbert

Nestor Gilbert is a senior B2B and SaaS analyst and a core contributor at FinancesOnline for over 5 years. With his experience in software development and extensive knowledge of SaaS management, he writes mostly about emerging B2B technologies and their impact on the current business landscape. However, he also provides in-depth reviews on a wide range of software solutions to help businesses find suitable options for them. Through his work, he aims to help companies develop a more tech-forward approach to their operations and overcome their SaaS-related challenges.