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Accounting System for a Services Firm


#1

Any recommendations for what’s the best online accounting software to use?

I’m going to switch accounting systems for this year. I have a small professional services business with sub-contractors, plus real estate income/expenses, plus a startup tech LLC. Xero? QuickBooks Online? QuickBooks?

This looks helpful: http://www.quora.com/search?q=best+online+accounting


#2

I use wave apps : https://www.waveapps.com

It does most of the things I want it to (importing bank statements, nice reporting for year end, allows collaboraters (e.g. accountants). It has some other features I haven’t tried yet (like allowing for both personal and business tracking, invoicing, etc).

My only complaints are the manually adding expenses is a a somewhat cumbersome interface, and there is no way to add recurring expenses.


#3

Looks pretty good.

They are using Ruby on Rails (and Django):

https://www.waveapps.com/about-us/jobs/software-developer/

They are also backed by some top VCs.

Any idea on how they compare to Xero?


#4

Xero looks pretty good too. When deciding I narrowed the list to those 2. I went with wave primarily because it is free - and the number of transactions I need to track is pretty small. So far - there hasn’t been any pain points that have made me want to change.