The Best Small Business Accounting Programs

1. Choosing an accounting program for your small business is an important decision because you will use this software every day. You need a program that is powerful enough to handle all your needs. However, you don't want to pay for features you will never use. Be sure to try out a variety of software to see which one works best for you.

QuickBooks Premier Edition 2010

2. Intuit's QuickBooks is one of the most commonly used small business accounting programs. It is also one of the highest rated. PC Magazine rated it the Editor's Choice. According to Kathy Yakal of PC Magazine, "QuickBooks Premier Edition 2010 continues to evolve from its early beginnings as a simple accounting program to a full-fledged small business financial management solution."
   
   The Premier version includes industry specific features for Retail, Manufacturing & Wholesale, Professional Services, Contractor and Nonprofit. QuickBooks Premier Edition 2010 is $399.95 for a single user. There are less robust QuickBooks packages available that cost less.
   
   QuickBooks is a good option for small business because it is easy to use and many accountants can work with QuickBooks data to prepare your taxes. You also can export your data to Turbo Tax software to prepare your own taxes.

Peachtree by Sage Premium Accounting 2010

3. Another popular option for small business accounting is Peachtree. The Premium version is comparable in features and price to QuickBooks Premier. David Chermak a CPA who writes at Abacus said, "Peachtree is a fantastic piece of software."
   
   The industry-specific versions available are for Construction, Distribution, Manufacturing, and Nonprofits. It costs $399 for a single user. Peachtree also has First, Pro and Complete versions which cost less but have fewer features.

Quicken Home & Business

4. A great option for home-based businesses is Quicken Home & Business 2010. It is financial software you can use to manage your personal and business accounting in one program. Yakal said, "...if you want to maximize your savings and track your investments or home-based business finances, in addition to managing your personal income and expenses, you can't do better than Quicken Home & Business."
   
   Quicken Home & Business is $99, making it a very affordable option for small businesses.

Outright

5. Outright is a free online basic accounting program that is perfect for micro businesses that don't have payroll needs. It integrates seamlessly with your bank account, credit cards and PayPal and prepares easy-to-understand reports. For a very small business that needs simple accounting functions, Outright is a good option for getting started.

Specific Use Programs

6. There are some accounting programs that are not full accounting programs but are created for a specific function only. For example, PayCycle is a program designed to help small businesses with their payroll. FreshBooks is focused on the process of invoicing.