Accounting Applications

GetRank Q2 for Accounting

GetRank is GetApp’s quarterly ranking of the top 25 Accounting apps based in the cloud. Each app is scored using five criteria, each worth 20 points, for a total possible score out of 100: User Reviews, Integrations, Mobile Apps, Media Presence, and Security. Each app’s GetRank score is completely independent of commercial interests and existing relationships that GetApp has with app vendors. For a full report on GetRank and quarterly industry trends, check out the research tab above.

Reviews
Integrations
Mobile
Media
Security

GetRank Q2 Research for Accounting

This report is part of GetApp’s quarterly product ranking, GetRank. The report, ‘Accounting in the Cloud: Key Trends for 2015’, highlights key trends in the cloud-based accounting app industry.

The aim is to provide valuable information to make the initial task of finding a cloud-based marketing application easier.

In the report, you’ll find:

  • Accounting software industry trends, with expert analysis and industry commentary, providing insight into some of the most notable developments in this space in Q2 of 2015.
  • Unique insights from data collected through GetApp’s research program, GetData, as it relates to user perception of cloud-based business software.
  • The Q2 2015 ranking for accounting, accounts payable, billing and invoicing, and expense management software.
  • A detailed explanation of GetRank and the five unique data points used to calculate an app’s GetRank score. The data points will be explained in terms of their relevance to the ranking and their reflection of industry trends, as well as an explanation of how they are used to calculate an app’s GetRank score.

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How is the GetRank score calculated?

User Reviews

The GetRank score for user reviews is calculated using a Bayesian estimate, which is a weighted average that includes the number of reviews and the rating of an app, benchmarked against other apps in the category. This raw number is then scaled to represent a value between 1 and 20.

Integrations

Integration scores are calculated by scaling and adding two different averages for the number of listed integrations on GetApp: the first 15 points are awarded for the total number of integrations scaled against the average for the top 25 percent of apps in the category, while the final 5 points are awarded for the total number of integrations scaled against the leader in the category.

Mobile Platforms

Mobile platform scores are calculated using data pulled from Google Play and the Apple App Store. In this case, a maximum of 5 points is attributed for having an Android App, and another 5 for an iOS app. The additional 10 points are calculated based on the ratings of the app in each store, rated out of 5, for a total of 20 points.

Media Presence

Using Brandwatch as a source of data, GetApp analyzed the number of social media mentions of each application and vendor over the course of the quarter. In order to scale the volume of mentions and filter for irrelevant content, the Twitter handle of the vendor was used as the query search in Brandwatch. Similar to the scoring for integrations, the first 15 points are awarded for the total mentions scaled against the average of the top 25 apps in the category, while the final 5 points are awarded for total mentions scaled against the category leader.

Security

Security is calculated with data collected from the GetRank security survey. The survey and scoring were developed in collaboration with Microsoft. The questions in the survey are based on the Cloud Security Alliance self-assessment form as part of the Security, Trust & Assurance Registry. With 15 questions, each question is weighted for importance, and each answer is given a score. The raw score is calculated by comparing the application’s score, to that of the ideal app, and then scaling to a score out of 20.

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  • FreshBooks    6

    Cloud accounting software for SMBs
    FreshBooks automates daily accounting activities namely invoice creation, payment acceptance, expenses tracking, billable time tracking and financial reporting.
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  • FreeAgent    9

    UK online accounting for freelancers & small businesses
    FreeAgent covers the accounting needs of freelancers and small businesses with estimates, invoices, expenses, project accounting, time tracking, tax & banking.
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  • FinancialForce Accounting    2

    Accounting App for Salesforce
    FinancialForce covers the wide range of accounting activities such as general ledger, financial reporting, accounts payable & receivable, and cash management.
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  • NetSuite    14

    Cloud Business Management Software
    NetSuite ERP includes complete online accounting with general ledger, accounts receivable, accounts payable, cash workflow management, tax management & more.
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  • Intacct    58

    Best-in-class Cloud ERP for Finance
    Intacct’s core financials automate your most important processes, reduce your reliance on spreadsheets, and give you greater visibility into your business.
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  • Brightpearl    31

    Brightpearl is a multi-channel retail management system.
    Use Brightpearl to view real-time revenue & profit data, compare financial performance over time, and generate financial reports to share with your accountant.
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  • eZ Account Import    1

    Smarter Integration of Banking and Accounting
    Do the books Faster. Smarter. and Without Errors. eZ Account Import is not only a file converter or importer, it's an integrated application with QuickBooks. eZ Account Import helps you to directly import your online banking data into QuickBooks, without manual data entry. All you have to do is to download your online banking transactions from your online bank account; upload the file to eZ Account Import; review and select the transactions you want to import in QuickBooks; and then import into QuickBooks. You can also reconcile your bank statement after importing the transactions. eZ Account Import can read virtually all the standard online banking download formats such as Quicken (qif or qfx), Microsoft Money (ofx) and Excel (csv, xls, xlsx).
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  • eZ Credit Card Import    1

    Smarter Integration of Banking and Accounting
    Do the books Faster. Smarter. and Without Errors. eZ Credit Card Import is more than just a file converter or importer, it's an integrated application with QuickBooks. eZ Credit Card Import allows you to directly import your online banking data into QuickBooks, without spending hours of manual data entry. Simply download your credit card transactions from your online bank account; upload the file to eZ Credit Card Import; review and select the transactions you want to import in QuickBooks; and then import into QuickBooks. You can also reconcile your bank statement after importing the transactions. eZ Credit Card Import can read virtually all the standard online banking download formats such as Quicken (qif or qfx), Microsoft Money (ofx) and Excel (csv, xls, xlsx).
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  • CosmoLex  

    Web Based Legal Practice Management & Accounting Software
    CosmoLex does it all — time tracking, billing, business accounting, trust (IOLTA) accounting, calendaring, task & document management.
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  • TRACT  

    Billing and revenue management platform for XaaS and IoT
    TRACT is a billing/subscription platform that supports any business model. Subscriptions usage, metering, rating, entitlements, machine to machine (IoT) & more.
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  • Buildium  

    Cloud-based property management software
    Web-based system that streamlines processes for property managers of rental properties, condos, and homeowners associations.
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  • Bill.com    39

    Magically Simple Business Payments
    Bill.com is the home of the fastest-growing business payments network in the nation, enabling nearly 200,000 users to pay and get paid millions of bills worth billions of dollars. The Bill.com Business Payments Network brings small-to-medium businesses simple online bill payment, custom invoicing services, unlimited document storage, workflow collaboration, and the ability to access their back office from anywhere via any mobile device. Bill.com’s services easily sync to a users’ accounting software and online bank accounts to better control company financials while also guarding against errors and offering enterprise-class fraud protection that current methods cannot match.
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  • Clearbooks Accounting    17

    Online accounting software
    Clear Books Accounting Software is an online accounting system for small businesses. Our aim at Clear Books is to make accounting software for small business owners that is easy to use and saves time. Clear Books has been developed with the user in mind using a simple design to clearly guide users through day to day accounting and bookkeeping tasks. This allows you to access a client’s accounts anytime and from anywhere with an Internet connection. This flexibility can be used to view a client’s accounts from multiple locations. Clear Books supports multiple users logging into the accounts system at the same time.
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  • Xero    23

    Online Accounting Software
    Xero offers full online accounting for small businesses, letting you reconcile accounts, send invoices, track expenses, pay employees, generate reports & more.
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  • Arithmo    16

    Small business accounting software
    Arithmo is accounting software for small businesses in the UK market only. Arithmo is a simple and intuitive accounting software application, suitable for all small businesses and their accountants. All users get a no obligation FREE trial and the opportunity to attend a FREE online training session. It’s easy to use interface means even a complete beginner can be up and running in minutes, making Arithmo belonging to the easiest accounting tools on the market.
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  • Zenefits    13

    OnBoarding | Payroll | Benefits | Compliance
    Use Zenefits to manage certain HR-related accounting activities, namely payroll & taxes and benefits & insurance.
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  • Wave    27

    All-in-one accounting, invoicing, payroll, payments, and receipt management solution.
    Wave makes it easy to be your own boss. Focus on what you love, and lean on Wave's intuitive online software to manage your financial and organizational needs. Wave Apps makes your money-related tasks easy with: • Unlimited invoicing, 100% free! • Unlimited accounting, 100% free! • Accept credit cards on your invoices with our "pay now" feature with a super-low, easy-to-understand flat fee • Expense tracking with no manual entry, and connect with your bank account to never input another transaction again! • Handle your business and personal finances in one place. • Accountant-friendly. Wave is double-entry accounting with full reports. You can even add your accountant to view and edit as a 'guest collaborator' • Easy and affordable payroll that's guaranteed. Deductions and tax calculations, plus direct deposit, for as little as $9 per month • Kick the shoebox full of receipts with our receipt management tools.
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  • CaseFox    5

    Timekeeping, Billing, Trust Accounting, Case Management
    CaseFox® Timekeeping, Billing and Case Management Software is designed to help attorneys, virtual firms, accountants and other professionals (such as freelancers, contractors, etc.) with their timekeeping, invoicing, trust accounting, time tracking, case tracking and client billing needs. CaseFox can track both billable and non-billable hours and expenses, monitor unbilled hours, late payments and handle trust accounting, case documents and case notes. CaseFox even handles income expense accounting, conflict checks, discovery tracking/docketing, fee splitting rules and abbreviation assisted time entries.
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  • Pastel My Business Online    5

    Online accounting software for small and start-up businesses
    Pastel My Business Online is an online accounting solution for smaller businesses - developed in South Africa, Pastel offers accounting, ERP and business software to businesses across the globe.
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  • Crunch    8

    Love Accounting
    Crunch is a groundbreaking online accountancy firm for freelancers, contractors and small businesses. By combining accredited, award-winning in-house accountants with real-time cloud software, Crunch delivers a complete business accountancy service for a flat monthly fee of £64.50+VAT. No costly extras, your own personal account manager, and maximum tax efficiency.
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  • Sage One Canada    5

    Sage One Canada - Small business accounting software
    Sage One Canada is an accounting solution for small businesses in Canada that lets you send invoices, record expenses, track time, reconcile accounts and more.
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  • insly.com    4

    Software for agents and brokers
    Cloud based software for insurance agents and insurance brokers with monthly fee that simplifies sales process and helps with administration and reporting. Free trial.
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  • Invoicera    4

    Invoicing Simplified
    Invoicera is an easy online billing solution for numerous professionals and businesses. It is an answer to all invoicing troubles for freelancers like attorneys/lawyers, consultants, web developers, etc; for enterprises and businesses of all nature and size; for service providers that include computer & IT services, web hosting, etc. and practically for anyone that needs to send invoices.
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  • Sleek Bill    4

    Designed to make invoicing easier than ever.
    Sleek Bill invoice software offers premium invoice tools giving you everything needed for your billing related requirements. We've put our 6+ years of experience in developing invoice software to design Sleek Bill and offer the best possible user experience in solving invoice related needs.
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  • ProjectionHub    4

    Create Financial Projections Without Excel
    ProjectionHub is a web application that helps entrepreneurs create financial projections without the need for a PhD in spreadsheet modeling. Create up to 3 years of monthly financial projections online and then download an Excel file with your Balance Sheet, Income Statement, and Cash Flow Projections. Our tool is a simpler alternative to the complex and confusing spreadsheet templates that most business owners and advisors use to create projections.
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What is Accounting Software?

Accounting software is used to automate and keep track of a wide range of finance-related business needs. The level of features required depends on the need of the buyer. However, at the core of all accounting software is the ability to manage accounts receivable, accounts payable, general ledger, and invoicing and billing.

In addition to these, some of the more robust accounting solutions offer accountability tools such as automated reports for tax investors and boards of directors, analytics tools for budget and sales forecasting, employee payroll and tax tools, as well as expenses management. Other features of accounting software might include integration with bank feeds, POS software and other online payment gateways.

Many accounting applications also include tools for billing and invoicing. These tools include online payment acceptance, invoice generation, invoice historical records, late payment reminders, time tracking for billable hours and projects, as well as automated recurring billing.

Accounting software allows you to work closely with your accountant by keeping all accounting documentation on one platform. You can store and automatically back-up data and export this information through your desired method, whether that is by print or electronically. Generate reports for exporting such as Profit & Loss, or Expense reports.

Depending on factors such as location and industry, accounting software can ensure users meet industry standards and compliance as well as internal managerial requirements, producing reports and analysis for these internal and external audits.

Businesses of all sizes, as well as freelancers and contractors, can benefit from the time-saving features of accounting software such as invoicing and bookkeeping. They can also help users to better monitor their financial flow. This improvement in cash flow visibility can help prevent future financial damage or loss, and help to make better financial decisions.

Accounting software ranges from basic to more advanced systems. This includes scalable solutions for growing businesses. Along with all-in-one accounting solutions, there are also a number of apps offering specific services such as accounts payable and account receivable software. Accounting software is also a key component of many enterprise resource planning suites.

Key Features & Benefits

  • Accounts payable, accounts receivable and general ledger management
  • Invoicing and billing tools
  • Expense and Profit & Loss reports
  • Cost calculation and time tracking
  • Compliance, tax and regulations management
  • Cash flow reporting and analysis
  • Sales and budget forecasting
  • Client online payment processing and tracking
  • Generate, share and export reports for accountants, directors.