The best accounting software for small businesses in the US: features, pricing, and comparisons

At a certain point, spreadsheets no longer suffice. As your business grows, so does the complexity of your finances. That’s where a good accounting software and financial management system make all the difference – helping you stay informed, organized, and in control of your company's financial health. 

The right software enables you to automate tedious tasks and gain real-time insights into your cash flow. The most modern tools take it further, helping you manage multiple currencies with ease, speed up payments, and keep fees low. In this guide, we’ll walk you through the five best online accounting software choices for small and medium-sized businesses (SMBs) – and simplify the selection process.

What is online accounting software?

Unlike traditional desktop software, which locks your books to a single computer, online accounting software is hosted on remote servers in the cloud, allowing you to access your financial data anytime and anywhere with an internet connection.

The added flexibility means no more juggling files between devices or missing updates. You’ll spend less time manually entering transactions or hunting down receipts, and you won’t have to scramble to get your books ready for tax season or investor meetings. 

When you’re looking to expand globally, you need online accounting tools that can manage multiple currencies, tax rules, and banking systems – so you avoid costly errors and delays. Unlike desktop accounting software, accountants, finance teams, and managers can collaborate in real-time, regardless of their location.

The features of online accounting software

Common features of online accounting software include:

• Invoicing and billing: create and send invoices, as well as track payments

• Expense tracking: record and categorize business expenses

• Payroll management: manage employee payroll and taxes 

• Financial reporting: generate detailed financial reports, such as profit and loss statements, and evaluate financial performance

Over the last decade, online accounting software has added convenient features, like auto-matching transactions through direct bank and credit card connections, multi-currency support for managing global payments, and built-in budget controls to keep your business on track.

How does online accounting software help manage your financial data?

The real power of online accounting software is that it unites all your financial data across teams, time zones, and even legal entities into one, centralized, easy-to-navigate platform.

Instead of lugging bulky binders and stacks of receipts across the office and manually coding every expense, you can automate categorization according to your company's expense policy. Online accounting produces fewer errors, cleaner books, and better compliance while saving you the busywork.

And if your business has multiple legal entities or operates in different countries, this centralized setup gives your finance team full visibility. With records in one place, financial controllers can identify trends more quickly, flag issues earlier, and make more informed, data-driven decisions with confidence. 

If you operate across borders, multi-currency support, global tax compliance, and integration with international payment platforms like Airwallex are essential for smooth financial operations.

How can online accounting software benefit your cash flow management?

You can't manage what you can’t see. Once your online accounting software gives you total visibility of your cash flow – from global payroll and business expenses to local accounts receivables and payables – you can then:

• Stay on top of receivables and ensure customers pay on time – no more chasing down unpaid invoices.

• Never miss a payment to suppliers – keeping your operations smooth and your relationships strong.

• Avoiding unpleasant surprises, such as unnecessary expenses like late payment penalties or overlooked subscription fees.

• Spot duplicated or unnecessary expenses and uncover opportunities to cut costs without cutting corners. 

• Understand seasonal cash flow patterns and build more accurate forecasts – so you're ready for slow periods and better positioned for growth. 

How to choose between cloud accounting software and desktop accounting software?

If you're still using desktop software, you may wonder whether it's time to make the switch to the cloud. The answer depends on a few key factors: 

Ultimately, the right choice comes down to your specific needs, like your budget, IT setup, team structure, and how well the software integrates with your existing systems.

As a general rule:

• Growing SMBs and startups tend to prefer online accounting software for its flexible pricing, easy access, and ability to scale as they grow.

• More traditional or enterprise-level companies with in-house IT teams may lean toward desktop software for tighter control and perceived security.

The best online accounting software for small businesses

If you’ve decided cloud accounting software is the right fit for your business, you’ll want to weigh a few more factors before choosing a platform, including:

1. Ease of use: Cloud accounting software should be intuitive from day one, not something you need a manual to figure out. Look for free trials to experience the user interface and test the responsiveness of customer support.

2. Seamless integration: Prioritize compatibility with your bank account for automatic reconciliation. If you're in eCommerce or technology, make sure the software integrates with your eCommerce platform, CRM, project management tools, plus payroll, inventory, and expense tools – whatever keeps your business running smoothly. The fewer manual workarounds, the better.

3. Your specific needs: Don’t be dazzled by bells and whistles you’ll never use. Focus on features that solve your real challenges now, while keeping an eye on what you’ll need as you grow. A lean, tailored setup beats feature overload every time.

To help you gain better clarity on what software to choose, we’ve listed out the key features and pricing of five major players in the market:

Core features

Advanced features for growing and global teams

Cost

Next steps to enhance your online accounting setup

Once you’ve selected online account software, it’s time to make the platform work smarter, especially if your business deals with international customers, suppliers, or payments. 

That’s where Airwallex can be a powerful addition to your tech stack.

Airwallex is a global financial platform built to help modern businesses manage money more efficiently – whether you're paying international vendors, collecting customer payments from abroad, or juggling multi-currency cash flow.

What are the benefits of integrating Airwallex with your accounting software?

By connecting Airwallex with platforms like Xero, QuickBooks, Wave, Sage, and NetSuite, you can automate away some of the most painful parts of bookkeeping – no spreadsheets or late-night recon missions required.

Here’s what you can do with Airwallex:

1. Effortlessly track transactions in real-time: Whether it’s a card payment, international wire, or a supplier transfer, Airwallex automatically syncs supported transactions into your accounting platform, helping ensure your books stay up to date without manual uploads.

2. Simplify multi-currency management: Airwallex supports multi-currency accounts, allowing you to receive and hold funds in multiple currencies without the need for constant conversion or additional fees. Your accounting software consolidates everything in one place, providing a unified view without the need for foreign exchange (FX) calculations. 

3. Reconciliation: Pair with your accounting tools to auto-match transactions and streamline reconciliation, especially when working across multiple markets or time zones.

4. Unlock automation and efficiency: Airwallex streamlines the money-in, money-out process – from invoicing overseas customers to paying suppliers abroad. With native integrations, you’ll spend less time double-checking numbers and more time growing your business globally.

Bottom line? If your finance team’s still downloading CSVs every week, it’s time for a smarter way. Airwallex brings automation, real-time visibility, and multi-currency support straight into your accounting software – so you can grow without the growing pains.

Experience the benefits of seamless financial integration: Sign up for Airwallex today.

FAQ

1. What is the difference between Airwallex and accounting software like Xero?

Airwallex is a fintech platform that helps you manage your business’s money more efficiently with payment acceptance, FX/multi-currency wallets, global accounts, and corporate cards. Xero (or a similar solution) is designed for managing your books, including invoicing, reporting, and compliance. Together, they complete and automate the full financial workflow – from payment to reconciliation.

2. What is the best simple accounting software for small businesses?

If you're looking for simplicity, focus on software that offers intuitive invoicing, easy expense tracking, and straightforward financial reporting. Tools like Wave, Xero, or QuickBooks are popular for small businesses that want to keep things lean without getting overwhelmed. Your final choice will depend on your business size, budget, and the level of hands-on involvement you want with your books.

3. What’s the most popular accounting software?

QuickBooks Online is widely regarded as the most popular accounting software for small and medium-sized businesses (SMBs) in 2025.⁶ Its extensive feature set, user-friendly interface, and robust integrations make it a top choice for businesses seeking comprehensive accounting solutions. 

For larger enterprises requiring more advanced customization and scalability, NetSuite is often the preferred choice. With over 40,000 customers across various industries, NetSuite provides a comprehensive suite of tools tailored to meet the complex business needs of its users.⁷

4. What’s the best accounting software for scaling global businesses?

If your business operates internationally, look for accounting tools that support multiple currencies, offer global tax features, and integrate with platforms like Airwallex. Top picks for 2025 include: Xero, NetSuite, and Sage – especially when paired with an international payments platform to manage cross-border finances smoothly.

5. Can I use Airwallex with online accounting software not mentioned here?

Yes – in addition to the platforms covered above, Airwallex also integrates with other major accounting tools such as Asperato and Odoo. These integrations make it easy to sync transactions, auto-match payments, and expedite reconciliation, regardless of which system you use. If you’re working with a platform not listed here, you can also export CSVs or use Airwallex’s open API to build custom integrations that fit your financial workflow.

6. Is cloud accounting software safe for small businesses?

Yes. Most modern cloud-based accounting tools use bank-grade encryption, secure data centers, and regular backups. When paired with platforms like Airwallex, your financial data remains protected, compliant, and always accessible, regardless of where your team logs in from.

7. Is Airwallex safe to use with accounting software?

Yes. Airwallex is not an accounting platform – it’s a financial operations and expense management platform that integrates seamlessly with tools like Xero, QuickBooks, and NetSuite. It helps businesses manage payments, cards, global accounts, and employee expenses, while syncing data directly into their accounting software.

Regarding safety, Airwallex is PCI DSS Level 1 compliant and licensed as a Money Services Business (MSB) with FinCEN, ensuring compliance with federal anti-money laundering and consumer protection standards.

8. What are the benefits of connecting Airwallex to my accounting software?

Airwallex enhances your accounting platform with real-time data, automation, and multi-currency visibility, transforming it from a static ledger into a dynamic financial command center.

Sources

1. https://quickbooks.intuit.com/oa/get-quickbooks

2. https://www.xero.com/us/

3. https://www.netsuite.com/

4. https://www.waveapps.com/

5. https://www.sage.com/en-us/products/sage-50/pricing/

6. https://www.nerdwallet.com/best/small-business/accounting-software

7. https://www.cazoomi.com/blog/top-15-netsuite-statistics-you-should-know-in-2025-and-beyond