3 min read
May 21, 2020
Finance & Accounting

3 Best-Reviewed Financial Accounting and Reporting Platforms

Finding an accounting solution with a strong reporting feature can help your business gain valuable insights and get ahead.

T.C.
Toby CoxSenior Content Writer

Your accounting software’s reporting feature should be your best friend. It can give you an on-demand view into your business’s revenue for a given month or quarter, provide analysis of past data to help you plan for the future and forecast trends, and ease the bureaucratic pain of audits

The tricky part is knowing which financial accounting and reporting tool is the best fit for your business and the accounting metrics you want to track

To help you find the right software for your business, we analyzed more than 2,400 reviews to gauge how users feel about different accounting tools’ reporting features and gave each product a “Sentiment Score.”

What is a sentiment score?

The Sentiment Score shows how users feel about individual software products. It rates sentiment on a scale of 0 (negative) to 10 (positive). The higher a tool’s Sentiment Score, the better users feel about it.

GetApp uses sentiment scores to determine how our users feel (negative, neutral, or positive) about certain tools. The scores are especially helpful if you want to see sentiment toward specific aspects of a software tool. You can read our full methodology at the bottom of this page.*

Top 3 accounting products for reporting

Product Reporting Sentiment Score (out of 10)
Xero 6.13
QuickBooks Online Advanced 6.13
QuickBooks 6.13
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Xero 

  • Sentiment Score: 6.1348 (out of 10)

  • Mentions of reporting in reviews: 83

  • Percentage of mentions that are positive: 70%

Xero is designed for small businesses and people who may not necessarily be accounting experts. 

It offers reporting on metrics such as overall growth and sales/expenses per category, making it easy for users to see what’s going on in their business and adjust their business model as needed. 

Users typically like the ease-of-use and simplicity of Xero’s reporting functions: 70% of reviews positively mention Xero's reporting feature. 


Think Xero might be a good fit for you?

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QuickBooks Online Advanced

  • Sentiment Score: 6.1303 (out of 10)

  • Mentions of reporting in reviews: 274

  • Percentage of mentions that are positive: 68%

QuickBooks Online Advanced is designed to be a one-stop shop for business management software. It offers ample customization opportunities, including the ability to customize and run the “most powerful” reports not available in other QuickBooks systems. 

These reporting functions include customizable dashboards that track financial metrics such as revenue, measure performance based on different criteria, and provide more minute transaction-level details stakeholders might want to know.

This solution seems to satisfy users’ need for a simple, effective reporting tool; 68% of reviews mention the platform’s reporting features positively. 


Think QuickBooks Online Advanced might be a good fit for you?

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QuickBooks 

  • Sentiment Score: 6.1270 (out of 10)

  • Mentions of reporting in reviews: 1,422

  • Percentage of mentions that are positive: 68%

QuickBooks is a bookkeeping and accounting solution that doesn’t require financial accounting expertise. It offers four different subscription options: Simple Start, Essentials, Plus, and Advanced. All of these options offer a reporting function to a different degree, with Simple Start offering general reporting and Advanced offering the most customizable and detailed reporting. 

When it comes to reporting features, cost tends to positively correlate with the level of customization and detail you want from your accounting reports. 

Overall, people seem satisfied with the reporting features offered by QuickBooks; 68% of reviews mention these features with a positive sentiment. 


Think QuickBooks might be a good fit for you?

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Consider your finance accounting and reporting needs when making a decision

Xero, QuickBooks Online Advanced, and QuickBooks all offer reporting functions and can offer valuable insights. 

  • Before purchasing one of these tools or another solution, consider your business’ needs (such as metrics you need to track and the level of detail you want in reports) and read user reviews in GetApp's catalog

*Methodology

For this report, we analyzed 2,409 reviews that mentioned reporting across 18 accounting software products. To be considered for inclusion in this report, we required 20 or more unique reviews mentioning “reporting” or related terms.

The products listed in this report had the highest percentage of positive mentions of reporting functionality among eligible products.

To calculate the Sentiment Score, we looked at the specific mentions of reporting in each review and analyzed the terms used to describe reporting. We then scored each term on a scale of 0 to 10, with 10 being the most positive. The score for each snippet was the sum of all descriptive terms in the snippet. Snippet scores were then averaged for the product to determine average sentiment score for the product.

When comparing the average sentiment score of a product to the average score for the entire category, the product’s score was removed for accuracy.

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