Top 5 Bookkeeping Software for Entrepreneurs—Features & Pricing Breakdown

The internet is abuzz with recommendations for bookkeeping software—but which one truly fits the pulse of your business?

A tough call as an entrepreneur, ain’t it?

Navigating the demands of a small business without the right tools can feel like a high-wire act, and that’s where expert-vetted bookkeeping software comes in!

It not only keeps your personal and business finances separate but also simplifies taxation and payroll.

The right software makes it easy to:

• Track expenses

• Prepare for tax season

• Generate custom reports

• Set realistic goals for growth

Plus, solid bookkeeping software provides clear financial data to potential investors, helping them understand your performance and decide on investments.

In today’s doola guide, we will cover the top 5 bookkeeping software options for small businesses, comparing features and pricing to help you make an informed choice.

And if you’re seeking a solution that keeps your finances organized while keeping your business tax-ready and investor-friendly, doola is your answer.

With expert guidance and a user-friendly platform, doola streamlines your bookkeeping, wherever your business is based.

Book a demo today and see how doola can empower your business!

Key Features to Look for in a Bookkeeping Software

Before we compare and contrast, let’s highlight some of the must-have features to look for when evaluating bookkeeping software:

✅ Ease of Use

You don’t need a finance degree to use good software. Look for intuitive, user-friendly interfaces.

✅ Automated Invoicing

With automated invoicing, you’ll save time and ensure those payments come rolling in like clockwork.

✅ Expense Tracking

As an entrepreneur, you need to keep your expenses on a tight leash!

With smart categorization, you can track every dollar, so nothing slips through the cracks.

✅ Bank Reconciliation

Connect your bank accounts and reconcile them automatically with your accounting records.

Get rid of tedious manual calculations for good!

✅ Financial Reporting

Stay in the know with detailed reports on your business’s financial health to make informed decisions.

✅ Tax Compliance

This one’s a must-have for small businesses.

Your software should help you stay in the good graces of tax laws—because nobody likes a surprise audit!

✅ Scalability

As your business grows, your bookkeeping software should grow right along with it. Choose a solution that can adapt and expand as you do.

With these essential features in mind, let’s explore some of the best bookkeeping software that are making a splash in the market today!

Top 5 Bookkeeping Software for Entrepreneurs

Choosing the right bookkeeping software can feel overwhelming for entrepreneurs, given the vast array of options in the market.

To simplify the decision-making process, we’ve categorized the top bookkeeping software into two distinct groups:

Full-service digital bookkeeping solutions vs. Do It Yourself (DIY) tools.

This approach allows founders to easily identify which type best suits their business needs.

Whether they prefer a comprehensive service that handles all financial aspects or a more hands-on tool that offers flexibility and control.

Let’s explore each category in detail to help you discover the ideal solution.

1. doola Bookkeeping: Full-Service Solution

doola is your all-in-one digital bookkeeping partner, expertly designed for entrepreneurs and small businesses looking to streamline their finances without the hassle.

Unlike traditional software, doola Bookkeeping goes beyond by managing your finances in real time, ensuring tax compliance, and providing tailored insights.

With a strong focus on tax compliance and personalized financial insights, doola empowers businesses of all sizes—from startups to established operations.

Their team of expert bookkeepers takes care of monthly financials, delivering interactive reports that are simple to interpret, enabling better decision-making.

Accessible on both web and desktop, doola even manages your income tax filings, allowing you to focus on what truly matters—growing your business.

Is doola Bookkeeping Good for Small Business Owners?

doola’s intuitive platform is tailor-made for startups and small business owners looking for a full-service digital bookkeeping software.

Price Range:

• doola Bookkeeping Software: $25 per month.

• Dedicated Bookkeeping: $167 per month.

• Dedicated Tax Filing: $125 per month.

• All-in-One Accounting: $249 per month.

Explore doola’s complete suite of services and pricing.

Pros:

• Seamlessly link your financial accounts, and doola takes care of the rest.

• Access interactive financial statements for easy analysis.

• Gain support from a dedicated bookkeeper backed by a team of experienced specialists.

• Receive monthly and year-end financial reports to stay on top of your accounting.

• Leverage powerful reporting tools to get a clear view of your business’s health.

• Message your bookkeeping team directly within your account for real-time support.

• Schedule free consultation calls with your bookkeeping team anytime to get the answers you need.

Cons:

May not be your first preference if you want a DIY approach.

However, if you find the DIY tools time- and labor-consuming, you can book a demo and switch to doola Bookkeeping anytime.

Business Example:

Let’s say you’re an entrepreneur running a tech startup with plans to scale.

You need a bookkeeping solution that doesn’t just keep track of your numbers but also offers real-time financial insights and helps you stay compliant with taxes.

doola Bookkeeping will be the best fit as it’s more than just a number tracker.

It handles the complexities of bookkeeping while delivering the insights to make informed decisions, so you can fully focus on the tech side of things—and of course, growing your business.

Let’s now go ahead and explore the DIY options and see which one fits your business needs.

2. Intuit QuickBooks Online: $30 to $220/month

QuickBooks Online (designed by Intuit) is a go-to solution for anyone with a bit of accounting knowledge under their belt.

With features like intuitive interface, automated invoicing, and seamless bank integration, QuickBooks is suitable for small and medium businesses alike.

It can even be customized to fit your needs—whether you’re in retail, real estate, or any industry in between.

But here’s the catch:

QuickBooks isn’t exactly beginner-friendly. Without some financial know-how, you might feel out of your depth.

So choose wisely.

Who Should Use It?

Small businesses that need a wide range of features and scalability can benefit from QuickBooks.

Especially the ones requiring payroll add-ons.

Price Range:

$30 to $220/month.

The basic plan starts at $30/month.

Pros:

• Familiar to most accountants

• Mobile-friendly expense tracking

• 20+ pre-Built reports and customizable options

• Excellent scalability and adaptability

• Integrates seamlessly with Amazon and Shopify

• Great for real-time collaboration

Cons:

• Steep learning curve for beginners

• Limited users on all plans

• Cannot provide detailed business health reports

• Can get expensive as you scale

Business Example:

Let’s say you’re running a growing e-commerce store with several product lines.

QuickBooks Online would be a great fit because it allows you to manage inventory, track sales, and automate invoices.

All while offering detailed financial reports that help you understand which products are driving your profits.

3. Xero: $12-65/month

Xero is a major player in the bookkeeping software world, celebrated for its sleek interface and collaboration-friendly features.

With real-time updates, it’s perfect for entrepreneurs who are constantly on the move.

Plus, Xero’s extensive app marketplace, boasting over 1,000 integrations, makes it easy to connect with the tools you already use.

Is Xero Good for Small Business Owners?

If phone-based customer support is a must for you, Xero might fall short, as it lacks this service.

Additionally, for small business owners who aren’t keen on paying premium prices for connected apps, Xero’s pricing structure may feel a bit steep.

While it offers unlimited users and companies on all plans, the usability issues—like unclear navigation and hard-to-read fonts—could be a deal-breaker for some.

Who Should Use It?

Xero is good for tech-savvy entrepreneurs and businesses that need multiple software integrations—only if they can adjust with DIY options.

Price Range:

$12 to $65/month:

• Early plan: $15 per month.

• Growing plan: $42 per month.

• Established plan: $78 per month.

Pros:

• Unlimited users and companies included in every plan

• Easily create and track purchase orders

• Automated bill and receipt capture through Hubdoc

• Payment processing supported via Stripe, GoCardless, and more

• Convenient online file storage

• Streamlined tax management

Cons:

• Expense tracking isn’t included in the cheaper plans

• No phone-based customer support available

• Connected apps come with premium pricing

• Navigation can be less intuitive

• Web app font is challenging to read

• Project tracking only available with the Established plan ($65/month)

• Steep learning curve for non-tech users

Business Example:

If you’re a digital marketing agency that uses several SaaS tools, Xero’s robust app marketplace can help you integrate all of your systems, from CRM to payroll, making it easy to track finances in one place.

4. FreshBooks: $15-50/month

FreshBooks is tailor-made for freelancers and solopreneurs, offering invoicing, time tracking, and expense management with a user-friendly interface that’s perfect for those without much bookkeeping experience.

It’s simple to navigate, even if tech isn’t your strong suit, and delivers some of the best invoicing features and customer support in the industry.

Are the Plans Affordable for All Users?

If you are looking to scale your small business without spending a lot, FreshBooks may not be your best bet.

Because:

Its affordable plans have restrictions on the number of users and clients.

Who Should Use It?

It is good for freelancers, solopreneurs, and small business owners.

Price Range:

$15 to $50/monthly.

• Lite plan: $19 per month.

• Plus plan: $33 per month

• Premium plan: $60 per month

FreshBooks also offers custom pricing for any plan you select.

Pros:

• User-friendly dashboard and intuitive navigation

• Built-in proposals for seamless client onboarding

• Automated recurring invoices for seamless monthly billing

• Unlimited expenses, estimates, and customized invoices

• Unlimited time tracking and mobile mileage tracking

• Manages project budgets and billing with ease

• Clients can conveniently make credit card payments

Cons:

• Scaling up can be challenging due to limits on users and clients

• The number of billable clients depends on your pricing tier

• Additional users cost $10/month each

• The mobile app lacks access to some key features

• Only the top-tier pricing includes an extra user account

Business Example:

Suppose you are a freelance designer—you need to invoice clients regularly and track your time effectively.

FreshBooks simplifies this with its invoicing automation and time-tracking tools, giving you more time to focus on your creative work.

5. Wave: Free with Paid Add-Ons

If you’re just starting out and don’t want to splurge on bookkeeping software, Wave could be your perfect match.

It is free to use and offers essential bookkeeping basics, with optional paid add-ons like payroll and payment processing available if needed.

Often hailed as the best free accounting software for small businesses, Wave is easy to learn, making it ideal for beginners.

But here’s the catch:

Wave’s free tools come with limitations—it lacks advanced features like project management, budgeting, and inventory tracking, and it doesn’t scale as well as its competitors.

Who Should Use It?

Wave is a good fit for startups and very small businesses.

Price Range:

It’s mostly a free tool with optional paid add-ons.

You need to pay $16 per month if you are opting for the Pro plan.

Pros:

• Easy-to-read, intuitive dashboard

• Unlimited users and financial accounts

• Seamless digital receipt uploads

• Customizable invoicing with distinct templates

• Turn approved estimates directly into invoices

• Useful features like expense and income tracking, along with basic reporting

• Wave Payments and Payroll available for an additional fee

Cons:

• Mobile app limited to invoicing only

• Free version includes self-serve customer support only

• Lacks time and project tracking features

• No consecutive invoice numbering

• Few third-party integrations available

• Offers basic reporting capabilities only

Business Example:

Let’s say you’ve just launched a local café and don’t yet have a steady stream of income.

And you don’t want to spend a lot on bookkeeping software.

Wave allows you to handle your basic bookkeeping needs—like tracking expenses and sending invoices—without eating into your budget.

Tips from doola Experts: Choosing the Right Bookkeeping Software

As you compare and contrast these bookkeeping software options, here are a few tips from the doola experts to help you make the right decision:

✅ Assess Your Business Size and Needs

Always determine whether your needs align with the features offered.

For Example:

If you’re a freelancer or solopreneur, you might not need all the advanced features of a tool like QuickBooks.

In contrast, growing businesses will benefit from more scalable solutions like doola.

✅ Evaluate Integration Capabilities

If your business utilizes other software tools such as CRMs or payroll systems, ensure that your chosen bookkeeping software can integrate seamlessly to streamline operations.

✅ Prioritize Automation Features

Look for software that offers automation, such as automatic invoicing, bank reconciliation, and expense categorization.

These features can save you significant time and reduce manual errors.

✅ Customer Support is Key

Do not ever neglect customer support—it can make or break your business!

Always opt for software that provides reliable customer support, especially if financial management isn’t your forte.

By keeping these tips in mind, you can confidently navigate the bookkeeping software landscape and select a solution that fits your unique business needs!

Along the way, you can also explore how doola Bookkeeping works and if it caters to your requirements.

Let doola be Your Bookkeeping Partner

At doola, we know that bookkeeping is about more than just number-crunching—it’s about unlocking insights that drive business growth.

That’s why doola’s All-In-One-Accounting solution goes beyond traditional bookkeeping by offering:

• Real-time updates

• Tax compliance support

• Tailored financial reports

Thus making financial management simple and stress-free.

With our cloud-based platform, you can access your financial data from anywhere, anytime.

Ultimately, choosing the right bookkeeping software comes down to your specific needs.

Whether you’re a solopreneur seeking basic invoicing or a fast-growing startup looking for comprehensive financial management, there’s a bookkeeping solution for you.

With doola, you get a partner committed to helping your business thrive.

So are you all set to transform your finances?

Book a demo with us today, and take control of your financial future.

Let’s doola it!