Did you get your first sale? Then it's time to get your accounting in order.
Or perhaps you are on a system that just isn't cutting it right now. Either way, this list if for you.
Thanks to the emergence of cloud technology, entrepreneurs have more invoicing and accounting solutions than ever before. If you're running a startup that has limited means and relies heavily on bootstrapping to prevent cost overruns, then you'll need to look at service that's affordable and reliable.
Good news, there are plenty of options.
Here are 20 of the best accounting and invoicing software solutions.
Due is one of the best invoicing solutions on the market. Although it is relatively new, it has 5 star reviews everywhere you look.
It's also free if you're only sending out three invoices per year. The most expensive plan is $49 per year.
Features include a billing timer, the ability to export your reports to Excel, and notifications about which invoices are due.
The cleverly named Kashoo is a great bookkeeping service that starts at just under $13 per month (as of this writing).
If you're taking advantage of the global economy and marketing your products or services to people in different countries, then Kashoo might be your best option. It supports more than 100 currencies and is used in over 50 countries.
3. Quickbooks Online
Quickbooks Online by Intuit offers a complete accounting solution for under $5 per month if you're an independent contractor. If you need a more comprehensive bean-counting solution, there are premium options that will handle invoicing and bill payments as well.
Freshbooks has recently emerged to be the chief competitor to Quickbooks. If Quickbooks is Hertz, Freshbooks is Avis.
The least expensive Freshbooks option starts at $12.95 per month (a little less if you pay annually). For that you get unlimited invoices and up to five clients. You also get unlimited phone and email support as well as the ability to accept credit cards.
Harvest isn't a full-blown accounting application. Instead, it's time-tracking software that offers online invoicing.
If you're in the business of billing your clients per hour or in 15-minute increments, then Harvest might be just the solution you're looking for. It starts at just $12 a month for unlimited clients, projects, and invoicing.
FreeAgent won Vendor of the Year Award in the 2011 Software Satisfaction Award. It's easy to see why when you look at the application's beautiful graphic reports and rich feature set.
In fact, some people consider the number of features to be a liability (no pun intended). Users who aren't familiar with bookkeeping might be overwhelmed.
FreeAgent also offers an unusual pricing model. It's $12 per month for the first six months and then it's $24 per month thereafter. There are no premium pricing plans.
Are you a sales rep for your own business? If so, then Yendo offers the best of both worlds: customer relationship management (CRM) and bookkeeping. That starts at $19 per month.
In addition to the usual bells and whistles, Yendo also allows you to accept credit cards and send bulk emails. Premium solutions offer forecasting, access to the API, and 2-factor authentication.
LessAccounting is an accounting application for entrepreneurs who don't know much about accounting. If you'd like to properly count the beans but maintain most of your focus on the mission of your business, have a look at the LessAccounting solution.
It's also worth noting that LessAccounting allows you to outsource your accounting to professionals for as little as $70 per month. Think of it as the LegalZoom for accountants.
If you're a struggling startup that has to squeeze as much you can from every penny, then consider Wave as your accounting software of choice. It's free.
Even though you don't pay anything for it, Wave offers a double-entry bookkeeping and financial statements. It also lets you upload bank statements and credit card statements to make your life a little bit easier. Finally, Wave is always being updated so you can expect more features to be added periodically.
Brightbook is another accounting solution with a price that can't be beat: $0.
Don't let the price fool you into thinking it's sub-par, though. It handles invoicing, basic accounting, bills, and multiple currencies.
You have to love how Xero describes its product: "Beautiful Accounting Software."
It's also affordable accounting software. It starts at just $6.30 per month (but it goes up to $9 per month after six months). For that, you get all the features you would expect with any other accounting solution. You are, however, limited on the number of invoices you can send and bills you can pay.
Xero Accounting is also a great option for entrepreneurs with customers all around the globe as it supports multiple currencies.
Zoho Books bills itself as "hassle-free invoicing software."
It's more than that, though. It also offers a rich suite of sales and marketing tools that you can use to build your business. Additionally, Zoho allows you to create automated payment reminders and track the time you spend on a project.
Plans start at $15 per month.
Invoicera is unique in that it offers different plans for businesses of different sizes. The software offers features specific to individual freelancers, small-to-medium sized businesses (SMBs), or enterprises.
Invoicera also offers forecasting and supports multiple currencies.
It's free for businesses with only three clients. Beyond that, plans start at $19.95 per month.
SimplyBill lives up to its name. According to the home page, you can sign up and bill somebody within 60 seconds.
The application offers 40 template designs if you're into fancy billing. It also gives you the ability to see which payments are overdue at a glance.
SimplyBill is free to try for 14 days. After that, plans begin at $5 per month.
"We handle the money, you handle the work."
That's the motto over at Hiveage, and it's a welcome overture to any busy entrepreneur. It's also a solution used by more than 45,000 small business in 140 countries.
Hiveage offers detailed reports, customized invoices, and the ability to send reminders to clients. It all starts at $6.95 per month.
If you're looking for an invoicing solution that's available in multiple languages, then Nutcache might be your best bet. The software also gives you the ability to accept payments from multiple sources, including PayPal, Authorize.net, 2Checkout and Stripe.
Pricing starts at just $6 per month, or $5 per month if you're willing to be billed annually.
17. Simple Invoices
Simple Invoices is an open-source solution "developed by the community, for the community." As the .org domain name implies, it's also non-profit (read: free).
Beyond that, the service lives up to its name. If you're looking for a quick way to create invoices at no charge, then have a look at Simple Invoices.
Bullet has a very unusual pricing model, albeit one that's well suited to the Information Age. You have to tweet about it to access its features.
That's it. Once you've done that, you have access to free invoice or accounting software. You can have access to both solutions with two tweets.
19. Invoice Ninja
A comprehensive list of accounting and invoicing solutions wouldn't be complete unless it included one with the "Ninja" in its title. Fortunately, Invoice Ninja offers much more than just a predictable name.
It's a free, open-source invoicing solution that allows you customize invoices, integrate with more than 30 payment gateways, and convert quotes into invoices.
Apptivo is an invoicing solution that offers a whole lot more, including project management, CRM, and even a help desk.
Additionally, Apptivo offers a free starter plan that allows 3 users and access to more than 50 apps. More robust solutions start at just $10 per month.
See our article on Best Accounting Software for Small Business
Was there one I missed? Comment below.