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The 10 Budgeting Software Options for Businesses

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The GoCardless content team comprises a group of subject-matter experts in multiple fields from across GoCardless. The authors and reviewers work in the sales, marketing, legal, and finance departments. All have in-depth knowledge and experience in various aspects of payment scheme technology and the operating rules applicable to each. The team holds expertise in the well-established payment schemes such as UK Direct Debit, the European SEPA scheme, and the US ACH scheme, as well as in schemes operating in Scandinavia, Australia, and New Zealand. See full bio

Last editedApr 20233 min read

Effective budgeting is essential for every business, no matter its size. However, developing and sticking to a budget can be a significant challenge, particularly if you're doing it manually. Luckily, there are various budgeting software options available that can help you streamline the process and ensure that you're on track financially without losing yourself in endless Microsoft Excel sheets.

When choosing a software solution, consider your specific needs and budget, as well as factors such as ease of use and integration with other business tools. With the right software, you can take control of your finances and make informed decisions that will help your business grow.

If you're looking for the best budgeting software for your business to help you whip your finances into shape, here are 10 of the top options to consider.

1. Xero

Xero is a popular cloud-based accounting software option for small businesses that offers a range of features, including budgeting tools, invoicing, expense tracking, and payroll management. Xero also integrates with many popular business tools, such as PayPal, Square and, of course, GoCardless. One of the primary benefits of Xero is its user-friendly interface, which makes it easy to navigate even for those with little accounting experience.

2. QuickBooks

QuickBooks is a very popular piece of accounting software that also comes with a built-in budgeting tool. It allows you to create a budget for your business based on your historical financial data and offers various reports that give you an overview of your business's financial health.

3. Mint

Mint is a free personal finance software that can also be used for budgeting purposes and is a great choice for those wanting to pinch pennies. It's easy to use and offers real-time updates on your transactions. Mint also offers personalised budgeting advice based on your spending habits and can help you save money by suggesting ways to reduce your expenses.

4. Tiller

Tiller is a spreadsheet-based budgeting tool that automatically pulls your financial data into Google Sheets or Microsoft Excel. This software is ideal for those who prefer to work with spreadsheets and want to customise their budgeting process. Tiller offers various templates to help you get started, and you can also create your own budgeting templates.

5. YNAB

YNAB (You Need a Budget) is a budgeting tool that helps you focus your priorities and allocate your money accordingly. YNAB offers various budgeting categories, such as housing, transportation, and groceries, and allows you to create custom categories as well. The surprisingly flexible software also offers financial education resources to help you learn more about managing your money effectively.

6. EveryDollar

EveryDollar is a budgeting tool created by popular finance guru Dave Ramsey. This software is designed to help you create a budget based on the principles of Ramsey's Baby Steps program. EveryDollar offers various budgeting categories, such as food, transportation and housing, as well as expense and income tracking.

7. MYOB

MYOB is a well-established accounting software option that has been around for over 20 years now. It offers a range of features, including budgeting and forecasting tools, invoicing, expense tracking, and payroll management. MYOB is available as both a cloud-based and desktop software solution, giving businesses flexibility in how they manage their financial data.

8. Zoho Books

Zoho Books is an affordable cloud-based accounting software option that offers budgeting tools, invoicing, expense tracking and inventory management. It also integrates with many popular business tools, such as PayPal and Stripe. Zoho Books is known for its simple and intuitive user interface, making it a great option for businesses that are new to accounting software.

9. FreshBooks

FreshBooks is a cloud-based accounting software option that is popular with freelancers and small business owners. It offers features such as invoicing, expense tracking and time tracking, as well as budgeting tools. FreshBooks also integrates with many popular business tools, such as PayPal and Stripe. One of the benefits of FreshBooks is its intuitive interface, which makes it easy to get started with the software.

10. Wave

Wave is a free accounting software option that offers features such as invoicing, expense tracking and payroll management. Wave also offers a paid service that includes advanced features such as custom invoicing and receipt scanning.

We can help

Regardless of the budgeting software you choose, it’s easy to save on the cost of running your business by choosing GoCardless for your digital payment collection practices.

We give businesses a simple and convenient way to collect payments directly via bank accounts, circumventing expensive card networks entirely and allowing businesses to benefit from more affordable fees, easy automation, and enhanced anti-fraud intelligence.