As with any sector today, the pandemic has not been easy on the accounting industry. According to a 2020 survey by Accounting Today, 36% of accounting firms cite the pandemic as the biggest challenge. Delving deeper, 50% of those who mentioned this were mid-sized firms. With numerous companies and stores closing down, accountants are left with fewer clients to cater to. They are also left to contend with companies releasing limited financial information, or none at all even.
Luckily, the different types of accounting platforms on the market afford accountants the flexibility that they need. The same goes for proprietors who perform the financial legwork themselves. Mac users, in fact, have a handful of viable options. Some of them have native apps through which financials can be updated while on the go. Picking one revolves around the best features, pricing, how compatible a platform to your working style.
First on our list of the 20 best accounting software for Mac is FreshBooks, a popular accounting software that makes financial management an easy undertaking. Using the solution, you can handle recurring subscriptions and invoices with relative ease. It is also capable of collecting online payments as it supports credit cards, Google Checkout, and PayPal payments. The product seamlessly integrates with popular business apps, enabling you to streamline such processes. As FreshBooks is a total solution, you need not invest in additional software, giving you financial control from a single console.
A robust and highly-scalable enterprise resource planning software, NetSuite ERP is an accounting software for small and large businesses. The solution essentially automates processes such as billing, inventory and order management, fixed assets, and financial management. It also allows both management and rank and file employees to view key performance reports. The platform smoothly integrates with other NetSuite apps, including ecommerce, inventory, CRM, and order management products.
The software can provide you with an efficient supply chain with its total inventory management feature. This includes a real-time view of important suppliers, inventory, and procurement indicators. You can take advantage of the NetSuite ERP free trial to learn more about its features.
For your accounting needs, the app helps you accurately manage expenses, revenues, and financial disclosure. Its revenue recognition management feature lets you calculate and come up with financial statements for product and service sales.
Another ideal accounting solution for Mac is Paychex. This powerful cloud-based solution brings advanced automation tools for payroll, payroll tax administration, and more. For payroll processing, Paychex provides its own sophisticated suite of features, such as Paychex Flex and Paychex Voice Assist. Paychex Flex enables you to easily run your payroll automatically online or through the mobile app with just a few clicks. Meanwhile, Paychex Voice Assist takes this a step further via voice-activated payroll automation technology.
Paychex also simplifies tax administration with the help of tax services tools. These allow you to automate payroll tax calculation, payroll tax payment, as well as filing payroll taxes with the right agencies. Furthermore, Paychex ensures that you are compliant with federal, state, and local tax laws. And if you are using other software systems to further streamline your accounting and other business processes, you can easily integrate Paychex via API.
Gusto is a cloud-based accounting solution that combines the power and accounting features in one solid platform. It is designed to help businesses streamline their payroll and financial reporting processes. With its all-in-one workforce management tools, it enables businesses to hire, pay, insure, and grow their teams from a single, unified platform.
Equipped with end-to-end tools that facilitate payroll and other financial-related processes, Gusto allows businesses to deliver seamless accounting workflows. Essentially, it has a robust infrastructure that enables accounting and HR departments to collaborate and manage mass payouts for employees when payday comes.
Cloud-based payment automation and management platform Approve.com is designed to help users meet deadlines with impeccable accuracy. It addresses problems such as late payments, administrative overload, non-compliance, and challenges associated with human errors. It reduces time spent on financial management, which is probably the biggest problem plaguing accounting teams.
AvidXchange is an end-to-end accounts payable software trusted by thousands of businesses across the United States. This helps companies conveniently manage invoices and automate payments to optimize accounting operations. It comes equipped with purchase order automation, paperless invoicing, as well as built-in B2B payment processing. This way, businesses can pay suppliers faster and be able to track and review their transactions more efficiently.
Aside from the abovementioned, AvidXchange also supports over 180 integrations so it is built to mesh well with your existing business software ecosystem. Some of the platforms it can connect with include Blackbaud, Microsoft Dynamics GP, Sage Intacct, SAP, Oracle NetSuite, and QuickBooks, among others.
A2X is a robust ecommerce platform that automatically captures transactions from sales channels like Shopify and Amazon to your accounting system. This cloud-based software automates the accounting process and provides accurate bookkeeping, which translates to increased efficiency in operations.
A2x simplifies ecommerce accounting and easily integrates with QuickBooks, Xero, and other widely-used accounting platforms. With A2X, you can seamlessly migrate your financial data to other platforms as needed. The A2X platform makes a summary of sales and expenses, classifies each transaction, and allows you to view your cash flow from a dashboard that is easy to navigate.
The robust system of A2X is designed in partnership with leading ecommerce platforms in North America, Europe, and Asia, which makes it a complete end-to-end ecommerce software. The software categorizes transactions and provides a stock monitoring system by tracking the cost of goods sold, including the gross margins of moving products.
A smart accounting platform targeted at small businesses, Zoho Books is designed to manage finances and cash flow. This easy-to-use solution can help you make informed decisions. Uptime, support, and security is not a problem as the software is part of the Zoho stable of products, which are known for their hassle-free features. Using the platform, you can send your clients professional invoices and accept payments online.
Yooz is a cloud-based accounts payable software that can help AP teams automate their invoice and bill payment processes. The software leverages advanced technology like AI Deep Learning and Big Data to help users automate many of the tasks connected to invoice processing. Since the software is cloud-based, you can access all your data conveniently from any web browser and from any mobile device as long as you have an internet connection.
Plooto is a reliable payment processing platform for businesses, accountants, and bookkeepers. The platform is designed to automate processes to help you collect funds more effortlessly and save time when making payments. Some of its notable features include approval workflows, customizable approval tiers, complete audit trails, Pre-Approved Debit (PAD), recurring payments, and automatic accounting reconciliations.
Bill.com is an accounting system for the digitalization and automatic processing of accounts receivable and accounts payable. It is an AI-enabled financial platform for recording invoices, approving payments, managing cash flows, and tracking financial transactions. This is great for SMEs who seek a complete solution to automate payments.
The platform serves as your centralized platform as it automates payments from start to finish. It connects all your accounting tools and payment accounts all in one place for a truly seamless experience.
Aside from AI technology, it uses machine learning to improve accuracy, which prevents significant issues later on. It even minimizes human intervention. The software comes with smart features such as duplicate invoice detection and automatic data entry so your team can focus on more important tasks.
Sage 50cloud is a trusted and reliable accounting platform trusted by small and medium businesses. It provides best-in-class accounting features in affordable pricing plans. It has inventory management tools, online payment processing, purchase order automation, and tax computation features.
Its distinguishing feature, however, lies in its desktop application, which has cloud-based data access and storage. You can use all the features for free for a period of time to see if the software matches your needs.
To differentiate Sage 50cloud from its sister app Sage Business Cloud Accounting, the former serves as an add-on service for the latter to be integrated into the cloud. And since Sage 50cloud is cloud-based, all accounting data are automatically synced between the desktop application and its cloud servers, making access possible at any time.
I'm looking for super-simple NON-cloud-based, NON-subscription, downloadable software for Mac to replace the Australian Taxation Office's E-record (brilliant program, no longer supported). I do not want any of my financial stuff running through the cloud, and I only use it for 1 week per year.Don't need wages, employees, BAS, stock, inventory, etc, do NOT have a shop, service company or any employees or do retail sales, etc. Most programs have too many features beyond my needs!Just need a simple cash book to enter business expenses, percent private usage, whether GST-free or taxed, calculates profit & loss statement.It was not clear from your descriptions which ones were not cloud-based.thanks Daniel. 153554b96e