06/25/2026
Want to switch to a different financial software… but aren’t sure which one to pick?
Or maybe you’re still using Excel spreadsheets and are thinking it’s time to upgrade to something like QuickBooks or Xero?
Good news, Friend-- you stopped your scroll on the right post! 😉
Here are 5 questions to help you choose the best accounting software for your business:
(𝟭) 𝗔𝗿𝗲 𝘆𝗼𝘂 𝗼𝗻 𝗮 𝘁𝗶𝗴𝗵𝘁 𝗯𝘂𝗱𝗴𝗲𝘁?
If you’re just starting out, there are still some affordable (and even free) options:
💰 Wave Accounting is a solid free option for basic bookkeeping needs (with optional paid add-ons like payments and payroll).
💰 FreshBooks is often used by service-based businesses and has entry-level plans that start at a low monthly cost (pricing can vary based on promos and features).
💰 Xero also offers tiered pricing, so you can start simple and scale up as you grow.
(𝟮) 𝗔𝗿𝗲 𝘆𝗼𝘂 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝘁𝗼 𝘀𝗰𝗮𝗹𝗲 𝘂𝗽 𝗶𝗻 𝘁𝗵𝗲 𝗳𝘂𝘁𝘂𝗿𝗲?
If your business might grow into more than just a side-hustle, with employees, multiple revenue streams, or more complexity, choose software that can grow with you. Look for things like:
📈 Payroll options
📈 Advanced reporting
📈 Multi-user access
📈 Strong app integrations
For example, simpler platforms like Wave or entry-level FreshBooks work well for freelancers, while QuickBooks or Xero are often better long-term scaling tools.
(𝟯) 𝗜𝘀 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝘀𝗲𝗿𝘃𝗶𝗰𝗲 𝗼𝗿 𝗽𝗿𝗼𝗱𝘂𝗰𝘁-𝗯𝗮𝘀𝗲𝗱?
If you’re service-based (consulting, coaching, etc.), most platforms will work well. If you’re product-based, pay close attention to inventory features:
🛠️ Xero includes basic inventory tracking tools that work well for many small product businesses.
🛠️ QuickBooks Online also offers inventory features depending on the plan.
If inventory is a big part of your business, this question matters a lot.
(𝟰) 𝗪𝗵𝗮𝘁 𝗽𝗮𝘆𝗺𝗲𝗻𝘁 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺𝘀/𝗮𝗽𝗽𝘀 𝗱𝗼 𝘆𝗼𝘂 𝘂𝘀𝗲?
Do you use Shopify, PayPal, Stripe, Square, or other tools? Make sure your accounting software integrates well with what you already use.
📱 QuickBooks Online is known for having a very large ecosystem of third-party integrations.
📱 Xero also connects with many apps, especially through Stripe, PayPal, and other common payment processors.
The goal here is simple: less manual data entry.
(𝟱) 𝗗𝗼𝗲𝘀 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗵𝗮𝘃𝗲 𝗮 𝗵𝗶𝗴𝗵 𝘃𝗼𝗹𝘂𝗺𝗲 𝗼𝗳 𝘁𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻𝘀?
Higher transaction volume usually means more need for:
🧾 Automation
🧾 Bank feeds that stay clean and connected
🧾 Strong reconciliation tools
🧾 Predictable pricing based on usage tiers
Most modern accounting platforms use subscription pricing, and payment processing fees (like credit card or ACH fees) depend more on the payment processor you choose (Stripe, PayPal, etc.) than the accounting software itself.
👉 Once you’ve thought through these 5 questions, it becomes much easier to narrow down the right fit for your business.
If you want to see side-by-side comparisons, just do a search for "Accounting software comparisons" and you'll find many helpful blogs that will break down the pros and cons of each program.
And if you're leaning towards QuickBooks products, I have access to the lowest rates available! Feel free to use my partner link to get the best deals: https://completebusinessgroup.com/northbound-bookkeeping.
Hope this helps you narrow down the choices a bit! 🥰
