by Lauren Maffeo
Published on 14 August 2017
The most popular product isn't always right for you. This adage is especially true when it comes to accounting software. It might seem like you have hundreds of choices. But when you narrow those down to accounting apps for under 10 people, you'll have far fewer options-and that's not a bad thing.
If you're a small business owner with nine employees or fewer, you're likely looking for accounting software that won't break the bank. You'll also want a tool that integrates with the cloud-based apps your team already uses. Finally, you'll want accounting software with some essential features (such as invoice management) that isn't too difficult to learn.
So, to help you start your search, we've compiled this list of accounting apps for teams under 10 people. To earn a spot on this list, each app had to hold a spot on GetApp's Q3 Category Leaders ranking for accounting apps, which was the latest version at press time. Each app also had to have at least 48 percent of GetApp users that work on teams of 10 people or fewer, based on a sample size of at least 100 users per app.
It's tough to find a more relevant accounting app for teams under 10 people. That's because Wave is designed to serve small businesses with nine or fewer employees.
Wave provides double-entry accounting features for teams under 10. Billing and invoicing, investment tracking, profit and loss statements, and expense tracking are some essentials that our readers rave about.
Wave also offers multicurrency support, sales tax reports, and automatic exchange rate calculations. These features make the app a strong choice for teams under 10 people that work with clients around the world.
"This software is free and fully functional," says GetApp reviewer Brad Clark, who has used Wave daily for more than two years and works in an IT firm with under 10 people.
"The experience is fluid and easy to use, and the look and feel of the service has greatly improved," Clark adds. "There are two companion apps that have just been updated that make running your business and accounts a breeze. The receipts app is [particularly] good at auto scanning receipts and filling out your expenses automatically."
Wave's invoicing and accounting software-and its receipt scanning-are all free of charge. This makes Wave an ideal accounting app for teams under 10 people if budget is your key concern.
If you also need payroll and credit card processing, Wave provides these on a pay-as-you-go basis. Credit card processing costs 2.9 percent plus 30 cents per transaction for all credit cards. And monthly payroll services cost a $15 base fee plus $4 per employee. Small business owners in New York, California, Florida, and Texas can also add full payroll tax service for $10 per month.
FreshBooks aims to keep accounting simple. Their goal is to help users manage invoices, track billable time, and quickly collect online payments. If the tool's GetApp reviews are any indication, FreshBooks excels at all three.
FreshBooks is a strong example of an app that does a few things exceptionally well. It helps users track time, due dates, deadlines, billable hours, and more. The app also automates expense input and receipt uploads by allowing users to snap photos of receipts on their iPhones or iPads. Then, FreshBooks automatically uploads these receipts into its system.
FreshBooks' mobile app also earns high praise. You can send and create client invoices from your iPhone or iPad, then see when your clients have viewed them. Invoicing errors can be fixed within the app, and FreshBooks' integration with PayPal lets clients pay online.
"This is a very simple and easy to use program that works well for small service businesses," GetApp reviewer Beckyjo Bean says. Bean works in a food and beverages company with fewer than 10 employees and has used FreshBooks weekly for more than one year.
"It is very easy to bill clients [plus] track sales and past due invoices," Bean explains. "When I [implemented] it, I started getting paid on time and even early. It has an easy to track expense program, and you can even bill your clients for expenses."
GetApp reviewer Alan Bristow also shares that FreshBooks' product, people, and value make it a must-have for his Internet company with under 10 people:
"Pared down so the key components are easy to find and use. Like Google web apps, they add functionality only slowly and when clearly needed (and clearly tested). Using FreshBooks for nearly 10 years has been a positive-only experience."
FreshBooks users save 10 percent on any of its three plans if billed yearly rather than monthly. The plan you'll need depends on how many active clients you must bill.
FreshBooks' Lite plan lets users bill up to five active clients for $13.15 per month. Its Plus plan lets users bill up to 50 active clients for $22.50 per month. And small business owners who must bill up to 500 active clients can use FreshBooks' Premium plan for $45 per month.
Xero earns kudos from global GetApp readers. Research revealed earlier this year that it's the most popular accounting software among our readers in Australia, Canada, and the U.K. This is due in no small part to the fact that it wasn't built for big businesses. Instead, Xero aims to serve teams under 10 people.
Xero's list of features makes it one of the best accounting apps for teams of under 10 people. Daily bank and credit card transactions can be automatically imported into the app from any mobile device. Then, Xero maps each transaction to its respective accounting transaction. This makes Xero an ideal app for small teams that collaborate remotely.
If Xero's features can't sway you, its integrations should. The app works with more than 500 other cloud-based products. This means no more manual entry from your team.
"Xero is an all-in-one accounting software ideal for smaller [businesses that need] reports on the fly and can't rely on a CPA on a monthly basis," GetApp reviewer Thomas Smith says. Smith works in a management consulting firm with under 10 employees and has used Xero weekly for less than six months.
"At the most basic level, Xero allows users to create and send out invoices and reconcile bank feeds, ultimately creating P&L statements, balance [sheets], and cash flow statements."
"Xero is hands down the most powerful small business accounting software package I've ever used," GetApp reviewer Eric Schell agrees. Schell works in an IT firm with under 10 employees and has used Xero daily for more than one year. "Combined with its native payroll functionally and ease of payment reconciliation, it is worth every penny."
Teams under 10 have three Xero pricing plans to choose from. Its Starter plan costs $9 per month and allows users to send invoices and quotes, enter five bills, and reconcile 20 bank transactions. Payroll and multicurrency support aren't included in the Starter plan.
An upgrade to Xero's Standard plan lists no limits on sending invoices and quotes, entering bills, or reconciling bank transactions. it also includes payroll for up to five people. This plan costs $30 per month. And small business owners who need all of the above plus payroll for up to 10 people and multicurrency support can pay $70 per month for Xero's Premium 10 plan.
Although Xero's the top app among global small businesses, nothing tops QuickBooks Online in the U.S. It's used by the vast majority of GetApp readers that own accounting software-and half of them work on teams with under 10 people.
QuickBooks Online is renowned for being robust. Users can automate tax calculations, track due dates and cash flow, do one-click reporting, and create custom invoices.
QuickBooks Online syncs all accounting information to a single dashboard that can be accessed on any device. You can also create statements for profit and loss, plus billing and invoicing. All of these documents are compatible with mobile devices. And you're likely covered if you need QuickBooks Online to work with the apps your team already uses; it integrates with a third of the most popular apps on GetApp.com.
"This is my second try," GetApp reviewer Karen Bobe says. Bobe works in a real estate firm with under 10 employees and has used QuickBooks Online weekly for 6-12 months.
"I attempted to use the online version last year, but my data did not load properly," Bobe shares. "After several failed tries, I cancelled my subscription and QB credited my account. After condensing a few accounts, I gave [QuickBooks Online] another try. I am glad I did. Being cloud-based, I can handle payroll and process vendor invoices, run reports and financials without physically being in the office, and that just rocks!
"If you are used to [QuickBooks] on the desktop, learning how to use the online version will take a little bit of time. It's definitely not the same," Bobe cautions. "However, they have outstanding support. I have used both online chat and phone support."
QuickBooks Online offers several pricing plans for small business owners. Its Simple Start plan costs $10 per month, while its Essentials plan (which is marketed to small businesses) costs $24 per month.
Finally, QuickBooks Online's Plus plan costs $35 per month and offers the largest feature set. You can compare features per price plan on QuickBooks Online's website to choose the best fit for your business.
Here are some additional accounting apps for under 10 people that you might want to research:
Each of these accounting apps has more than 50 percent of GetApp users that work in a small business with 10 employees or less. We didn't include deep dives for these since our sample size is fewer than 50 users per app. But they're still worth a look if you want to see more of the best accounting apps for under 10 people.