Compassed

There is a great selection of Web based accounting software available. From basic accounting to finance to tax reporting, it’s all out there.

That’s a good thing because at the heart of any business is the flow of money. Even if you run a non-profit company, you need money to keep operating and that means you need to keep track of that money.

Below, I’ve listed some of the strongest offerings online today.  For a detailed overview of each, including features and pricing, view my Web Based Accounting review page.

Site Selection Criteria

The sites listed below are selected using the following criteria:

Functional Areas – is this software a one-trick-pony (which are sometimes useful) or the central tool you’ve been looking for to run your business? Features – how many does the vendor offer and how useful are they? Usability – is the software easy to learn and use or do I need to take a training course and know how to program? Price – how does the vendor price different levels of functionality and usage limits (space, users, etc.)? Will the price scale well as you grow and need more features and/or higher usage limits or become quickly unaffordable?

Also, when it comes to price, I tried to balance functionality with what a small business could afford and thus larger, more expensive, players were cut off the listings. Vendor “Strength” – will the vendor be around for a while or are they about to go belly-up? I calculate “Strength” by measuring how often and how recently the vendor’s software has been upgraded and the vendor’s news and/or blogs have been updated as well as what the industry buzz and coverage has been.

Software Listings

Remember, for a detailed overview of each listing below, including features and pricing, view my Web Based Accounting review page.

QuickBooks Online
Many, if not most, small-to-medium businesses start their life using QuickBooks and there is one basic reason why: they get it right. By offering a complex accounting system with a step-by-step approach, QuickBooks offers power without intimidating non-accountants. QuickBooks Online offers the same robust features as offline QuickBook versions. In other words, you get a fully-loaded accounting system with robust reporting and online connections with financial institutions.

ePeachtree
The Peachtree brand has been around for a long while providing companies with solid, dependable accounting software. Complex and robust, Peachtree often offers too much for a small business without an accounting team to manage but is just right for a business poised to grow large! Peachtree does not believe their Web based accounting software is for every company and I applaud them for pointing that out.

LessAccounting
LessAccounting looks like a straightforward Web based accounting solution. Their pitch seems to be, “Easier than Quickbooks” and having used Quickbooks, that sounds appealing to me! Be aware though, that their target market is small business and freelancers (i.e. non-complex business structures).

FreeAgent
FreeAgent bills itself as the “Online Accounting Nirvana for Freelancers and Small Business”. It certainly feels light and airy when you arrive at their site and it becomes immediately apparent that this is software built for non-accountants. That is certainly not a bad thing of course, especially when you are dealing with 1-3 people companies where those 1-3 people need to be focusing on the work of their business, not the business of their work.

International
The software listed in this section is produced by companies outside of the US. Because of that fact, a US-based company might have issues using them so, if you are US-based, buyer beware! However, if you are not US-based, these all seem like solid offerings. Explore and see if one is right for you.