Top five accounting software for SaaS companies

Xero

Xero is the ideal accounting system for small to medium-sized businesses (SMEs). One of its key features is that, as a web-based solution, it can be accessed at any time and using any device. This makes it the perfect choice for smaller businesses with a distributed workforce, including salespeople out in the field who need to upload receipts to the system as and when they receive them to guarantee accurate reporting of expenses. The dashboard for Xero makes it possible for business owners to track aspects of their business such as cash flow, account details, bill payments and invoicing quickly and simply. The software also features a Practice Manager tool used to assign tasks, track timekeeping and manage jobs. GoCardless integrates seamlessly with Xero, making payments received part of the process as easily handled as any other.     

QuickBooks 

QuickBooks is an online accounting solution flexible enough to be used across a wide range of sectors. Amongst the industries which can make use of the features offered by QuickBooks are:  

• Construction

• Nonprofit distribution

• Manufacturing

• Retail

QuickBooks offers expense tracking, payroll management, inventory tracking and invoicing. It also makes it possible to use the data gathered during the course of day-to-day operations to create reports for an analytical overview of your business, providing insights which fuel better business decisions. Using QuickBooks SaaS accounting software enables you to control, customise and automate financial transactions, making processes such as invoice tracking, cash flow management and sales tracking transparent and seamless. Documents are scanned into QuickBooks for a simple switch from paper to digital record keeping and once scanned they can be stored in custom categories and easily sourced when required.   

Sage Business Cloud Accounting

Sage offers a cloud-based accounting and invoice management system for SMEs. It comprises tools for project accounting, core accounting, compliance management and expense management. The documentation used in business payment processes – including estimates, statements, invoices and price quotes – are managed using Sage, and the software integrates with most of the major banks. The user interface comprises a single dashboard to track cash flow and pending payments, while more strategically, Sage enables cash flow forecasting, using the data gathered to estimate future requirements on the basis of past transactions. The payment also integrates with the GoCardless payment platform, making it easier to keep up-to-date records on payments into your business.   

Chargebee

Chargebee is a cloud-based accounting solution suited to businesses of every size and type, offering features such as invoice management, payment management and subscription management. It also makes it possible to use the data passing through the system to create custom reports offering detailed business insight. Online retailers localise the contents of their webpages through Chargebee and track issues such as abandoned shopping carts. The solution also makes it easier to deal with issues such as refunds, write-offs and cancellations, as well as tracking charges through the system.     

Zuora

Zuora is a cloud-based accounting solution ideally calibrated for subscription-based businesses, making it amongst the best accounting software for SaaS companies. It works equally well across a range of industries, including media, healthcare, education and telecommunications. Its primary features are billing, finance and commerce. Integrating all three features enables your business to handle tasks such as billing and subscription management. The different versions of Zuora make it easy to choose a system ideally suited to the size and type of subscription business you’re running, and can all be integrated with GoCardless.  

GoCardless integrates seamlessly with more than 350 different partners, enabling the businesses that work with us to use the latest software to manage their accounts and create a genuinely twenty-first century business. 

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