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The 10 Most Trusted SAAS Accounting Software of 2023

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saas accounting software

Looking for the best SAAS accounting software?

There’s lots of options on the Internet and we’re going to break the top 10 down for you.

My name is Connor Gillivan. I’m a seasoned Entrepreneur that’s been building Internet companies to 6, 7, and 8 figures for 10+ years with an exit in 2019.

I’ve used a number of accounting softwares with my companies and I know how important it is to make the right decision.

Here’s the top 10 SAAS accounting software that we’ll cover:

  1. Quickbooks Online
  2. Xero
  3. FreshBooks
  4. Wave Financial
  5. Zoho Books
  6. Sage Intacct
  7. Stripe
  8. Maxio (formerly Chargify & SAASOptics)
  9. Square
  10. GoCardless

What Does SAAS Accounting Software Do?

First, here’s a list of ways that accounting software can help your SAAS business:

  • It helps manage your financial operations, including invoicing, subscription billing, revenue recognition, and financial reporting.
  • It automates complex accounting tasks, reducing the time and effort required to manage finances manually.
  • It allows you to gain insights into your financial performance, including revenue trends, customer retention rates, and churn analysis.
  • It offers a range of payment processing options, including credit card processing, bank direct debit, and online payment gateways.
  • It integrates with other business tools, such as CRM systems, project management software, and inventory management tools, to create a comprehensive business management system.

10 Most Trusted SAAS Accounting Software Tools

Without further ado, let’s dive into the top 10 accounting tools to consider for your SAAS business.

1. Quickbooks Online

quickbooks online

  1. Overview: QuickBooks Online is a cloud-based accounting software that helps SaaS business owners manage their financial transactions, track expenses, and generate financial reports. It has a user-friendly interface, making it easy for business owners to track their finances and make informed decisions.
  2. Pricing: QuickBooks Online offers different pricing plans, including Simple Start for $25 per month, Essentials for $40 per month, and Plus for $70 per month. They also offer a 30-day free trial for new users.
  3. Features: QuickBooks Online has several unique features, including automated bookkeeping, the ability to manage sales and income, and the ability to track and manage expenses. It also has a mobile app, making it easy for business owners to access their financial information on the go.
  4. Example: A SaaS business would use QuickBooks Online to manage their financial transactions, track expenses, and generate financial reports. They can also use the software to manage sales and income and track their profitability. QuickBooks Online also integrates with other business tools, such as PayPal and Shopify.

2. Xero

xero

  1. Overview: Xero is a cloud-based accounting software that helps SaaS business owners manage their finances, track expenses, and generate financial reports. It offers a range of features that streamline accounting processes and make it easy to stay on top of financial obligations.
  2. Pricing: Xero offers three pricing plans, including Early, Growing, and Established plans. The Early plan costs $11 per month, the Growing plan costs $32 per month, and the Established plan costs $62 per month. They also offer a 30-day free trial for new users.
  3. Features: Xero has several unique features, including the ability to manage bank transactions, track inventory, and create custom reports. It also offers a wide range of integrations with other business tools, such as Stripe and Square.
  4. Example: A SaaS business would use Xero to manage their financial transactions, track expenses, and generate financial reports. They can also use the software to manage bank transactions and track inventory. Xero’s custom report feature allows businesses to analyze their financial data and make informed decisions.

3. FreshBooks

fresh books

  1. Overview: FreshBooks is a cloud-based accounting software that helps SaaS business owners manage their finances, track time and expenses, and generate invoices. It offers a range of features that simplify accounting processes and streamline business operations.
  2. Pricing: FreshBooks offers four pricing plans, including Lite, Plus, Premium, and Select plans. The Lite plan costs $15 per month, the Plus plan costs $25 per month, the Premium plan costs $50 per month, and the Select plan offers custom pricing for businesses with unique needs. They also offer a 30-day free trial for new users.
  3. Features: FreshBooks has several unique features, including the ability to track time and expenses, generate professional-looking invoices, and accept online payments. It also offers a mobile app, making it easy for business owners to access their financial information on the go.
  4. Example: A SaaS business would use FreshBooks to track their time and expenses, generate invoices, and accept online payments. They can also use the software to manage their financial transactions and generate financial reports. FreshBooks’ mobile app allows businesses to track their finances from anywhere.

4. Wave Financial

wave financial

  1. Overview: Wave Financial is a cloud-based accounting software that offers a range of financial management tools for SaaS business owners, including invoicing, accounting, payroll, and receipt scanning. It’s designed to be easy to use and is particularly suited to small businesses and freelancers.
  2. Pricing: Wave Financial offers a free accounting software plan, which includes invoicing, accounting, and receipt scanning. They also offer paid payroll and payments add-ons, which start at $20 per month. The payroll add-on includes tax filings and direct deposit, while the payments add-on includes credit card and bank payments.
  3. Features: Wave Financial has several unique features, including the ability to scan receipts with a mobile app and categorize transactions automatically. It also offers a customizable dashboard that provides an overview of the business’s finances.
  4. Example: A SaaS business would use Wave Financial to manage their invoicing, accounting, and receipts. They can also use the software to pay their employees and accept payments. Wave Financial’s receipt scanning feature makes it easy for businesses to track their expenses, while the customizable dashboard provides a clear overview of the business’s finances.

5. Zoho Books

zoho books

  1. Overview: Zoho Books is a cloud-based accounting software that helps SaaS business owners manage their finances, track expenses, and generate financial reports. It offers a range of features that streamline accounting processes and make it easy to stay on top of financial obligations.
  2. Pricing: Zoho Books offers three pricing plans, including the Basic, Standard, and Professional plans. The Basic plan costs $9 per month, the Standard plan costs $19 per month, and the Professional plan costs $29 per month. They also offer a 14-day free trial for new users.
  3. Features: Zoho Books has several unique features, including the ability to manage bank transactions, track inventory, and create custom reports. It also offers an auto-scan feature, which automatically scans and categorizes receipts and invoices.
  4. Example: A SaaS business would use Zoho Books to manage their financial transactions, track expenses, and generate financial reports. They can also use the software to manage bank transactions and track inventory. Zoho Books’ auto-scan feature makes it easy for businesses to keep track of their expenses and ensure that they are correctly categorized.

6. Sage Intacct

sage intacct

  1. Overview: Sage Intacct is a cloud-based accounting software that helps SaaS business owners manage their finances and automate accounting processes. It offers a range of features that help businesses gain real-time insights into their finances and streamline their financial operations.
  2. Pricing: Sage Intacct offers several pricing plans, which are tailored to businesses of different sizes and needs. Pricing starts at $400 per month for the basic plan, which includes core financials and basic reporting. More advanced plans offer additional features, such as advanced reporting, project accounting, and inventory management.
  3. Features: Sage Intacct has several unique features, including the ability to automate recurring tasks, such as billing and revenue recognition. It also offers a dashboard that provides real-time insights into key financial metrics, such as revenue, cash flow, and expenses. Additionally, Sage Intacct has robust integration capabilities, allowing businesses to connect their accounting software with other business tools, such as CRM and ERP systems.
  4. Example: A SaaS business would use Sage Intacct to automate their financial operations, gain real-time insights into their finances, and streamline accounting processes. They can also use the software to manage projects and inventory, and to integrate with other business tools to streamline operations.

7. Stripe

stripe

  1. Overview: Stripe is an online payment processing software that helps SaaS businesses manage their payments and subscriptions. It offers a range of features that make it easy for businesses to accept payments from customers, manage subscriptions, and handle refunds.
  2. Pricing: Stripe offers a pay-as-you-go pricing model, with no monthly fees or setup costs. Businesses are charged a transaction fee of 2.9% + 30 cents per successful transaction. Stripe also offers additional features, such as subscription billing and advanced fraud protection, which are available for an additional cost.
  3. Features: Stripe has several unique features, including the ability to create customizable checkout pages and a subscription billing management system. It also offers a robust fraud detection system, which helps prevent fraudulent transactions and chargebacks.
  4. Example: A SaaS business would use Stripe to accept payments from customers and manage subscriptions. They can also use the software to handle refunds and disputes, and to set up customizable checkout pages that match their brand. Stripe’s fraud detection system ensures that businesses can protect themselves from fraudulent transactions.

8. Chargify & SAASOptics – Now Maxio

maxio

  1. Overview: Chargify is a subscription billing and revenue management software that helps SaaS businesses manage their recurring revenue streams. It offers a range of features that help businesses automate billing, manage customer subscriptions, and gain insights into revenue trends.
  2. Pricing: Chargify offers a variety of pricing plans, including a free plan for businesses with up to 50 customers. Paid plans start at $149 per month and include additional features, such as usage-based billing, invoicing, and revenue forecasting.
  3. Features: Chargify has several unique features, including the ability to automate complex billing scenarios, such as tiered pricing and metered billing. It also offers a robust API, allowing businesses to customize the software to fit their unique needs.
  4. Example: A SaaS business would use Chargify to automate their subscription billing and revenue management processes. They can use the software to manage complex billing scenarios, such as tiered pricing and usage-based billing, and to gain insights into revenue trends. Chargify’s robust API allows businesses to integrate the software with other business tools, such as CRM and ERP systems.

9. Square

square

  1. Overview: Square is a payment processing software that allows SaaS businesses to accept payments online and in-person. It offers a range of tools to help businesses manage their sales, including invoicing, recurring payments, and inventory management.
  2. Pricing: Square offers a range of pricing plans, depending on the features required by the business. For businesses that only need to accept payments, there is no monthly fee and Square charges a flat 2.9% + $0.30 per transaction. For businesses that require additional features, such as invoicing and recurring payments, pricing starts at $9 per month.
  3. Features: Square has several unique features, including the ability to manage sales across multiple channels, including online, in-person, and mobile. It also offers inventory management tools, allowing businesses to track stock levels and automate reordering.
  4. Example: A SaaS business would use Square to accept payments online and in-person, as well as to manage their sales and inventory. The software can be integrated with other business tools, such as accounting software and CRM systems, to create a comprehensive sales and financial management system.

10. GoCardless

gocardless

  1. Overview: GoCardless is an online payment processing software that helps SaaS businesses manage their recurring payments, such as subscription fees and recurring invoices. It allows businesses to automate the payment collection process and reduce late payments, failed payments, and manual reconciliation.
  2. Pricing: GoCardless offers a range of pricing plans, depending on the number of transactions processed per month. The plans start at 1% per transaction and decrease with volume. Additionally, there is a one-time setup fee for integrating GoCardless into your payment processing system.
  3. Features: GoCardless has several unique features, including the ability to process recurring payments via bank direct debit, which can be cheaper and more reliable than traditional credit card processing. It also offers automated payment retry and failure management, helping businesses reduce late or failed payments.
  4. Example: A SaaS business would use GoCardless to manage their recurring payments and reduce the time and effort required to process payments manually. GoCardless’ direct debit feature can be an attractive alternative to credit card processing for businesses with high transaction volumes or high value transactions.

What Is AccountsBalance?

accountsbalance

AccountsBalance is a monthly bookkeeping service specialized for agencies & SAAS companies.

We take monthly bookkeeping off your plate and deliver you your financial statements by the 15th or 20th of each month.

You’ll have your Profit and Loss Statement, Balance Sheet, and Cash Flow Statement ready for analysis each month so you and your business partners can make better business decisions.

Interested in learning more? Schedule a call with our CEO, Nathan Hirsch.

And here’s some free resources:

In Summary

Choosing the right SAAS accounting software will make your job easier growing the business.

Take all of these 10 options into consideration and make sure to consult with your bookkeeper and accountant to make sure they know how to  use the software you decide to choose.

If you have additional questions, reach out to us at [email protected].

Cheers!

Want help with your bookkeeping? We make it easy. Get startedSpeak w/ a Founder, or Schedule a Callback

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Connor Gillivan

Connor Gillivan

CMO and Founder of AccountsBalance and EcomBalance. Founded FreeUp (acquired in 2019). Founder of Outsource School. Published Author. Investor.

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