Freshbooks vs. Kashoo vs. Xero: A battle for online-based accounting software

As the cloud-computing revolution continues, small business owners are likely shopping for new accounting software to bring their operation up to today’s technology standards and make it more efficient.

Cloud accounting allows for multiple users, seamless data entry, greater security and more flexibility. Software can be accessed through a web browser or a mobile app, allowing small business’ to break the barriers of an office and access their financials from anywhere in the world with an Internet connection. All in all, it offers a greater platform to understand your business’ financial well-being at all times.

Here are three options that can help bring your business into the cloud accounting platform.

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FreshBooks

While it’s not a complete accounting software suite, FreshBooks is a simply application that gives iOS and Android users a timer to track time billing in the field. It can also help you balance your general ledger.

FreshBooks is free to $40 per month depending on which plan your business needs.

Beyond its key features, FreshBooks offers an easy user experience and the ability to import all of your business contacts from whatever contact application you use.

FreshBooks can integrate its services with more comprehensive accounting suites, which is good, especially if you like the app’s time-tracking service.

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Kashoo

Kashoo has a lot to offer, in terms of accounting tools, but it can be a bit confusing to use.

The app costs $20 per month.

Kashoo links your credit cards and bank accounts and easily reconcile all transactions. Beyond that feature, that’s about it. It’s still a pretty solid app, though.

Kashoo’s interface has three columns — the first that lets you navigate the app, the second to show received payments from clients or outstanding invoices, and the third to show profits and losses. The comprehensive dashboard gives you that much-needed look at your business’ financials for that day.

While the app is capable, its interface is a bit tricky to interpret. The iPad app makes it a little easier.

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Xero

Xero is a complete, comprehensive app that uses an elegant user-interface to make accounting fun again.

Xero is about $150 on average, depending no the size of your business. and can integrate with nearly any business app on the market today, giving you a complete overview of your business’ financial health.

Xero’s ability to reconcile bank and credit card accounts quickly sets it ahead of the competition. The reconciliation takes place in two columns — one containing its downloaded transactions the other is what Xero matches it up to. If it’s wrong — and it’s rarely wrong — you can manually update the transaction information.

Xero’s dashboard offers a comprehensive view of your business’ transactions, cashflow and any outstanding invoices. The dashboard uses charts and graphics to show the health of your business, and can be customized to include information that’s important to your business.

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