WorkingPoint

WorkingPoint is an online accounting software for small businesses that don't deal with VAT or GST. Unlike the SaaS applications we have reviewed so far, WorkingPoint offers built-in inventory management, which is still immature and has too many drawbacks.

Reach Accounting

Reach Accounting is an online accounting software for small businesses with better user-access roles. However, the system comes with several minor and major issues as covered in the review as well as omissions of basic functions you would expect from online accounting applications.

MYOB LiveAccounts

MYOB LiveAccounts is an online accounting software for small service companies in Australia and New Zealand. With LiveAccounts, users can create invoices, register expenses, and keep their bank accounts in sync with bank feeds. However due to few shortcomings in the system, we reckon MYOB LiveAccounts immature. Yet if you are ok with few “BUTS”, you can give it a shot.

AccountPortal

AccountsPortal is an online accounting software for small businesses, which we reviewed based on screenshots, “accountant” reviews, as the system was a total failure, logging us out after every click. Just like in Brainiac, “We did it so you don’t have to”.

LessAccounting

LessAccounting is an online accounting software for service companies we found quite immature for SMEs. LessAccounting failed in reporting and in many other seemingly simple transactions and logic, which we outlined in this review.
Even though, LessAccounting claims that QuickBooks is terrible and frustrating, we found LessAccounting no where close to QuickBooks at all, thus, were we using QB, taking our data from QB into LessAccounting would be the last thing in our minds. Obviously interesting slogan from LessAccounting “All small business accounting software sucks, we just suck the least” could easily be stated vice versa.

Kashflow

KashFlow is an online accounting software with limited features and meant for small businesses in service industry. Even though it looks simple and reports allow drill-down into numbers, KashFlow requires more commitment in  terms of time, since processes are redundant, certain terminologies went astray and also requires understanding the logic behind transactions. Without getting acquainted with help files you will easily be lost.  Besides, we found no accountant tools for account adjustments.

Zoho Books

Zoho Books is an online accounting software for small and medium businesses in service industry (no inventory management). It is easy to use, and offers pretty much all the tools you need. There are however limitations/omissions as we pointed out in our review below

Crunch

When you signup with Crunch for the first time you get a data populated account for a faster evaluation of the system.

Crunch is an online accounting software for service companies, supporting quasi multi-currency. We  found Crunch hard to use due to numerous bugs and accomplishing simple tasks entailed redundant steps. Apart from it, reports were unsatisfactory and offered no drill-down.

Kashoo

Kashoo is a nice accounting software for start-ups and small businesses  who do not deal with inventory and maintain few contacts. Reports are decent and allow you to drill down and are accurate.
Kashoo offers multi-currency, but like in most online accounting suites, there is no way to track multi-currency balances, but are rather converted to base currency.

ClearBooks

ClearBooks is a decent online accounting software for service companies, yet comes with some surprises in multi-currency invoicing moments (Multi-currency invoicing is not the same as multi-currency accounting). Overall usability is provided, yet we recommend to read their Help files.

Wave Accounting

Wave Accounting is a free,  entry level / personal finance accounting software. In our review of this web application, we came across bugs and inaccurate reports which we pointed out in this article. Apart from it, Wave Accounting is missing core accounting features to qualify as an accounting suite.
There are also issues with usability and bugs that poped up during our review. Thus for SME accounting, we cannot recommend Wave Accounting.

FreeAgent

FreeAgent, an online “accounting” software apt for freelancers for charing hourly rates and tracking freelance projects. Even though FreeAgent offers Bills and Expense tracking and has some basic reporting elements, we do not encourage to start your business accouting with FreeAgent.

Freshbooks

Freshbooks – Online Invoicing System, wrongly named as Cloud Accounting for some reason is a nice invoicing system for freelancers and startups who need no more than then just an awesome invoicing app, yet we hardly believe that Accountants may love the system due to lack of double-entry, adjusting capabilities, etc. It lacks most of core accounting functionalities and its great user inteface is not inline with basic concepts of accounting and imposes unproportional high learning curve for such simple functionalities.
Since Freshbooks claims to be an accounting solution, we will regard it so in this review.