6 Best Business Accounting Apps | Accion Opportunity Fund
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6 Best Business Accounting Apps

Track your business cashflow by using the following six budget-friendly apps. Learn which is right for you!


Tracking cashflow and finances is essential for small businesses, but this task doesn’t need to be relegated to the office, or reserved for the company’s bookkeeper. Thanks to cloud computing, these six bookkeeping apps sync seamlessly across desktop, phone, and tablet, allowing you to manage billing, accounting, budgeting, and invoicing on the go.

We reviewed the six best finance apps for small business to help you decide which one will meet the needs of your business.


1. Xero

With their tagline of “beautiful accounting software,” it’s no wonder that users praise Xero’s attractive, simple and clean interface. The app provides a view of cashflow, the ability to reconcile transactions, add expenses, and create and send invoices.

Pros of the Xero App

  • Invoice feature allows you to create and send invoices and track their status.
  • Ability to connect to your bank account so you can see all of your transactions.
  • Payments for invoices are synched through your bank account, making accounting one step easier.
  • Integrates with more than 350 other business apps.
  • Allows unlimited users.
  • Free 24-hour support.

Cons of the Xero App

  • Not all features from the full site are available; limited functionality monitoring bank accounts, creating and managing invoices, and managing contacts.
  • There are no automated features, like overdue alerts or receipts of payment.
  • Once your contacts have been added, you can’t edit their information. You’re also limited to just inputting their name.
  • Auto-correct doesn’t work in the app.
  • There’s no landscape screen rotation.

The Xero app is available for Android, iPad, and iPhone. The app is free to download, but after a 30-day trial, there’s a monthly fee for using Xero’s service, starting at $11 per month. The standard plan is $32 per month, and the premium plan is $62 monthly.


2. Wave

A full suite of products designed specifically for entrepreneurs, Wave offers automated accounting, invoicing, payroll, and payment services to small businesses. The interface is easy to read and navigate, and many of the core business functions are completely free. Wave also has a group of advisors and a library of resources available to assist its customers.

Pros of wave apps

  • Getting started on Wave is pretty quick, and the system automatically syncs so all your data is backed up regularly.
  • Once you give Wave permission, it ties in directly to your bank accounts so you can get real-time updates on cash in and cash out.
  • You can export an updated financial statement at the click of a button.
  • Wave’s accounting, invoicing, and receipts apps are all totally free to use, and they integrate together seamlessly.

Cons of wave Apps

  • Some app users have reported slow load times when setting up their Wave accounts for the first time.
  • Depending on which Wave services you use, the processing times could delay certain business transactions in you don’t plan ahead.
  • Though the main accounting functions are free, any integrated upgrades are likely to come at a cost.

Wave’s free apps for invoicing and receipts are all available for iPhones and iPads as well as Androids. Wave’s payment processing and payroll services are available through the website. Wave charges for payment processing per credit card or bank transaction. Wave also charges a monthly fee of $20-$35 for payroll services, depending on the state where the business is located.


3. inDinero

If you’re looking for a service your business won’t quickly outgrow, the inDinero app might be the right fit. It provides a central hub for all business accounts and credit cards. Use the app to record and categorize expenses, get alerts from various accounts, see the current status of all your accounts, and build more complex financial statements.

Pros of the inDinero App

  • inDinero understands that not everyone is accounting inclined, so the company offers a full suite of accounting and bookkeeping services – what the website calls “fully outsourced accounting“.
  • You can skip inputting some of your financials, as the app pulls info from your bank statements, credit cards, and even PayPal payments.
  • If you get started with inDinero startup accounting, you can add on more complex financial services as your business grows.

Cons of the inDinero App

  • inDinero is more of an analytical tool, so if you’re looking for more in-depth accounting features like specific budgeting and spending capabilities, you will need to look elsewhere.
  • User-defined labels will need to be created so there aren’t issues like double entries, but categorizing every transaction can be trying.
  • Most users will need to upgrade to the priced services to cover their volume of monthly transactions.

InDinero’s app is available only for iPhone and iPad as well as Android. The app is free to download, but the monthly costs are higher than some less-robust tools: the basic plans start at $300 per month.


4. QuickBooks Online

Created by Intuit, QuickBooks is one of the most widely used accounting software systems out there, and has won many awards. The app offers easy onboarding for new users, but existing users of the online platform have expressed frustration at the app’s missing features.

Pros of QuickBooks

  • After selecting your business type, the app customizes your dashboard to your industry.
  • Simplifies double-entry accounting via attractive charts, colors and design. This layout also makes it easy to see what areas need attention.
  • Ability to automate invoices, payments, expenses, and more.
  • There are 150+ additional business app plug-ins to sync with, such as payment processors or customer relationship management (CRM).

Cons of QuickBooks

  • If you grant your employees access to your QuickBooks Online account, they may be able to see more information than they should be allowed, like a coworker’s billing rate.
  • Quickbooks Online doesn’t offer the full feature set of the site, so you’ll need to upgrade your account to access the additional features.
  • Only Intuit payment services can be used.
  • Users complain about customer service, and wish the app had an e-mail support center.

QuickBooks Online is available for both Android and iPhone/iPad. Downloading the app is free, but after a 30-day trial, there’s a $12.50 monthly subscription fee.


5. Kashoo Cloud Accounting

Kashoo markets itself on simplicity, and perhaps that’s why it is one of the most downloaded accounting apps from the Apple App Store. New users have access to a tour showing off the app’s features for a sample business. View the year’s income and expenses in attractive graphs.

Pros of the Kashoo App

  • Offers tiered memberships so you only have to pay for what you need.
  • Provides at-a-glance views into the overall business, including invoicing and expenses.
  • Light, attractive, and beginner-friendly with videos to help guide you.
  • Several helpful reports, all designed to be legible and conveniently sized within the app.
  • Syncs information from all banks and financial accounts.

Cons of the Kashoo App

  • Cannot track time or items, like client projects.
  • Can’t categorize transactions.
  • Some dead-end screens, creating navigation issues requiring extra clicking.
  • Does not offer the full functionality of other accounting apps.
  • Many complaints that the app is overpriced, as the free version has extremely limited functionality.

Truly Small from Kashoo is available for iPhone/iPad and Android; some features of Truly Small by Kashoo are completely free. More robust versions cost $20 or $30 per month after a free 14-day trial.


6. Mint

You’ve probably heard of Mint, the popular personal finance app, but it shouldn’t be overlooked that this app can also assist small business owners.

Pros of the Mint App

  • Mint is a great app to help simplify and organize your business’s books, helping you to stay on top of your spending with goal setting, tracking, and budgeting.
  • Categorization of expenses is simplified, with the ability to either choose from a plethora of expense categories, or create your own.
  • Synching financial information across banks accounts and credit cards.
  • An expense timeline and notifications for upcoming or late payments help keep you up-to-date.

Cons of the Mint App

  • No invoicing ability.
  • No advanced financial statement generation that would be available with apps designed specifically for small businesses.
  • Customers are assisted through a community forum or via email, rather than over the phone or live support, which can slow down communication.

Mint is available for both Android and iPhone/iPad, and is free to download.


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