We have already established the importance of accounting software. They help save time, money, and trouble. Gone are the days of manual accounting, you don’t need a pen, paper, and calculator to do accounting anymore as the best accounting software can take care of long and complicated tasks and provide error-free results in just a few seconds.
There are hundreds of accounting software out there and while they all claim to be the best, not all are made equal. We understand that small businesses cannot afford to spend lavishly. They want to save money and can’t afford a very expensive tool.
Keeping this in mind, we’ll have a look at some of the best accounting software for small businesses in Australia. We have made this list according to the Aussie market and have included some popular names in the country.
Xero is one of the most popular accounting software in Australia that’s used by both big and small businesses. Known for its simplicity, Xero has a simple and clean interface that makes it a great pick for people who do not want to tackle complicated tools.It comes with some great features such as the ability to track and pay bills online, have a look at a detailed overview of your cash flow, etc.
Here’s a small list of some of Xero’s main features:
- Pay Bills
- Claim Expenses
- Accept Payments
- Bank Connections
- Track Projects
- Bank Reconciliation
- Data Capture
- Invoice Management
- Multi-currency Support
- Sales Tax
- Purchase Orders
It offers excellent integration and can be linked to a number of popular names like GoCardless and Stripe.
Let’s have a look at some of the main pros and cons of this best accounting software in Australia:
- It can be accessed from anywhere as it’s cloud-based
- Comes with a mobile app
- The company offers special plans for small businesses
- Makes it easy to manage payroll thanks to Gusto integration
- Offers a third-party app marketplace
- Reporting features are limited
- Customer service could’ve been better
- You will have to pay additional charges for ACH payments
Founded in 2006, Xero is now one of the most well-known accounting software in Australia with more than two million users around the world.
While the company offers a free trial, you will need to give a month’s notice to cancel their paid plans.
The cheapest plan starts as low as $27; however, it comes with limited features. We suggest that you go for the Standard plan that starts as low as $52 per month. Those who want all the features can choose the Premium plan for $67 per month.
Right now, the company is offering a 50 percent discount on the first three months.
Features such as multiple currency support only come with the most expensive plan. Moreover, some features such as Claim Expenses and Tracking only come as add-ons starting as low as $4 per month.
You might be surprised to see Billdu here since it is not an accounting software. Still, we decided to include it in this list of best accounting software for small businesses as it comes with a variety of features that can make accounting a piece of cake.
Here are some of its main features:
- Invoice Management
- Fast Payments
- Inventory Tracker
- Payment Reminders
- Recurring Invoices
- Purchase Orders
- Delivery Notes
- Invoice Attachments
- Smart Contact List
- Support for Multiple Currencies
The tool comes with a special feature “Connect With Your Accountant” that gives you the option to invite your accountant who then has all the information he needs to process your tax returns. It comes with a set of invoice templates optimised for Aussie small businesses. You can easily set AUD as your preferred currency, add your bank account (BSB and account number), invoice with or without GST and much more.
Here are some of the main pros and cons of using Billdu for accounting:
- It is very easy to use
- Comes with excellent customer support
- Very safe and secure to use
- Support multiple languages
- Gives you the option to manage all your companies from a single account
- Isn’t a dedicated accounting tool
- Lacks some features
With Billdu, you will be able to get inputs for your BAS and annual tax returns in a few clicks.
The company offers a free trial to give you a fair understanding of how Billdu works and what benefits it offers.
Paid packages, however, start as low as $3.99 per month. Even the cheapest package comes with unlimited invoices; however, the Standard plan might be more suitable for small businesses. It costs $8.99 per month and comes with additional features.
Those who want more such as an online store and API access can choose the Premium plan starting as low as $16.99 per month.
You might also know or suspect that you don’t really need a full accounting software suite for your Aussie small business. We’ve already established that accounting software can be quite complex and you need a simple tool to run your daily business operations. Making invoices needs to be simple. Similarly to hundreds of thousands of other Australian small businesses, you might decide to leave accounting to your accountant. Billdu offers you everything you need and all the things can be managed on the go. Billdu is famous for its simplicity. So creating a quote or sending an invoice to your customer straight from the job site cannot be any easier!