Accounting software for SaaS companies is a necessary tool to help make your life easier. There are many reputable and affordable accounting software programs available for your company that can streamline your workflow. This blog post will go over the top 5 best accounting software for SaaS companies out there. These accounting software providers have been around for a while and know how to help a business efficiently run with their products.
The last thing you want is to be forced to spend more time in spreadsheets than actually doing work, or worse, outsourcing what should be done internally by company employees. So take the time now to explore these vendors before signing on with one of them so you can make the most informed decision possible for your business.
Our Top 5 Best Accounting Software For SaaS Companies
Best Accounting Software For SaaS Companies Reviews
1. Best Overall: Sage Intacct
Sage Intacct is a cloud-based accounting software platform designed for Saas companies. It offers strong ERP and financial management functionality and can be complemented with numerous add-ons for specific verticals. With the global market in mind, it is available in 29 languages and currencies.
Sage Intacct Features
- Account Management – allows you to create, edit, delete or assign accounts; customize account layouts; carry out account transfers. Sales Order Processing – includes up to 10 different sales commission rates; various journal entry types such as cash receipts or deposits; inventory control such as purchase orders and invoice stock adjustment entries.
- Statement of Cash Flows – provides a comprehensive cash flow analysis.
- Fixed Assets – offers asset tracking, depreciation, and capitalization setup; scheduled depreciation; supports multiple depreciation methods like Straight Line or MACRS.
- Project Management – tracks project profitability and expenses on a month-to-month basis; automatically calculates payroll taxes on project revenues and expenses.
2. Best User-Friendly: Quickbooks
Quickbooks is accounting software for SaaS companies. Its features include time and billing, customer information, reports, track expenses, and makes payments. It is also cloud-ready, meaning you can use it on any device. Quickbooks has a new interface with much-improved navigation. In addition, older reports have been updated and new ones added to the standard feature list.
This is one of the best software programs that will fit your needs and help you get everything done in a timely manner. If your company uses this software, then it would be worthwhile for you to write a product review to introduce the features of this program and give some tips on how it can be used by other people who require accounting software products for SaaS companies.
3. Best Easy-to-Use Features: Xero
Xero is a cloud accounting software that’s made specifically with small businesses in mind. This means you won’t have to worry about breaking your back to do taxes in columns and rows or complicated formulas. Instead, Xero allows you to manage your accounting from anywhere easily. For example, you can make your bank statements from your phone or tablet, and you can access financial reports in a snap from the cloud.
With Xero, you can track expenses, goals, assets, income, and more by creating direct debit entries. You can save a bill for later or complete it immediately. With Xero’s integrated invoicing solution, you don’t need to pay for software that will let you make mistakes easier than the web-based version that is free on the web.
4. Best for Growing Businesses: Salesforce Service Cloud
If you sell a product or service for a SaaS company, then you understand how essential accurate and up-to-date accounting records are to your business. This is where Salesforce Service Cloud comes in.
The software has been designed to help SaaS companies seamlessly transition from manual bookkeeping processes to automated, web-based management of sales, billing, and invoice generation. It’s also possible to integrate Salesforce Service Cloud with other applications – such as billing, accounting, and HR systems – so everything is automatically updated in one central location.
The application also helps you keep track of who owes what while supplying comprehensive analytics that will help your company measure the overall effectiveness of its marketing efforts.
5. Best For Small Businesses: FreshBooks
FreshBooks accounting software is the best enterprise software that you will find on the market today. It has all of the features that you need and none of those that are unnecessary.
Here is a list of features that are included in this product:
- Unlimited invoices, tracking, and time-tracking with unlimited hours.
- Numerous pre-built reports with searchable options for enhanced productivity.
- 100% open-source platform with no monthly fees or hidden costs.
- Built for corporations on cutting-edge technology like artificial intelligence.
- Integrations with over 500 third-party software applications, including Salesforce.
- Customer support available around the clock, with no contracts.
FreshBooks is easy-to-use and powerful accounting software for small businesses. This company provides online tools that help businesses at every stage of their life cycle — from startup to running a thriving business.
The software products are hosted on a server or cloud-based platform for access via the internet for these providers. Generally, the system should provide end-to-end visibility for every aspect of a business. This includes key financials such as sales, cost of goods sold, inventory, receivables, and payroll, as well as operational data such as customer details and customer pipeline analytics.
Software as a service (SaaS) is a popular business model in the technology industry. For a monthly fee, buyers access a Cloud-based software solution and use it during an agreed time frame. It is becoming increasingly popular among small business owners who can’t afford expensive software for their infrastructure.
Accounting software for SaaS companies is a fast-growing niche within the software industry since most accounting solutions cannot handle the specific requirements of a SaaS company’s budget and product lifecycle.
What Is The Best Accounting Software For A Service Business?
The best accounting software for a service business is QuickBooks. They have both online and onsite versions, with the online version being downloadable to your computer so you can work on files wherever you go. Their platform is easy to use, and their customer support responds quickly if something goes wrong. It’s the perfect software for any service-based business owner or bookkeeper.
What Is SaaS Accounting Software?
SaaS Accounting Software runs on a server and enables a business to use applications and the internet to process financial operations. The platform can be accessed from a browser, tablet, or phone.
How Is SaaS Accounting Different?
Accounting is different for SaaS companies because they are freemium or subscription-based services. This means that accounting principles can be complicated and sometimes need to be tweaked, which is where a service like Xero can come in handy! Xero is the world’s fastest-growing online accounting software, letting you track your expenses on the go and collaborate with your team using real-time dashboards.