Accounting software prove to be a useful tool for businesses since they help them record and track their income and expenses. They allow one to determine how their business is doing and prepare them for tax liabilities. Many accounting software are available in the market, and each one comes with a different set of features and at a different cost. The industry and the number of employees are two crucial factors to consider while selecting accounting software for your business. Based on these factors, here are our top picks for 2021:

1. QuickBooks
   This accounting software is suitable for small and mid-size businesses as well as freelancers, and it has a host of features that ensure organized and easier accounting. You can choose from four plans starting from $12.50 a month, and each plan includes a free expert setup. The notable features of this software include bill payment and management, inventory tracking, payroll, live bookkeeping, tax deductions, and time tracking. Additionally, the easy-to-use software makes it convenient for business owners with zero accounting experience to manage their accounts. The setup is quick and reasonably priced, and the software helps businesses be prepared for tax liabilities throughout the year.
2. Sage Accounting
   Sage Accounting is a globally renowned cloud-based software that provides business and accounting services online. It is designed for small business owners and sole traders in any industry, and it allows easy access to multiple users. The software works on any PC or laptop, any smartphone, and any tablet, and it also has an iOS and Android app. That said, you need an internet connection to access the cloud-based software. Its primary features include automatic bank reconciliation, stock management, expense tracking, and reporting. You can choose from two plans and even opt for a 30-day trial before choosing to buy the software.
3. FreshBooks
   Freshbooks provides accounting and invoice software for freelancers, self-employed professionals, and businesses. Some of its popular features are quick and easy bank deposits, invoicing, mileage tracking, and time tracking. The software integrates with more than 100 apps to help streamline the business, connect with clients, and better understand the business. Plus, FreshBooks protects users’ personal information and their client’s information with industry-standard SSL and encryption. All in all, it acts as a safe and reliable platform to manage business accounting. You can get a free 30-day trial and choose from four plans starting from $15 per month thereafter.
4. Odoo
   Odoo has been one of the best business accounting software out there, and it has been evolving to meet new business requirements. It has successfully allowed businesses to avoid errors commonly associated with manual accounting and allowed small businesses to focus on growth instead of getting stuck with keeping track of the bills. The software enables users to sync bank statements with their bank automatically. Some of its other features are electronic invoicing and automated follow-ups, cash register management, and easy reconciliation. Additionally, simple and clean balance sheets, cash flow statements, and reports can be made using Odoo.
5. Crunched
   Crunched is an inexpensive, easy-to-use accounting software that provides exceptional support services. The software tracks income and expenses and helps users stay organized by maintaining databases of their customers, vendors, and sales items. It also allows businesses to manage their checkbook and email invoices easily and makes collecting online payments more convenient. The security features include 24/7 monitoring, 256-bit encryption, auto backups, and data redundancy. You can sign up for a free 30-day trial and choose from three plans depending on your requirements.

Be sure to look at multiple options and compare the features, pros, and cons of various accounting software before you subscribe to one.