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
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.
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?
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.
We are using QuickBooks and Xero. Both are good and easy to transfer.
we migrated last year.
This will be helpful.
Hey Justin, given your setup—with subcontractors, some real estate activity, and a tech startup—QuickBooks Online is probably your best bet. It’s super versatile, widely used by accountants, and handles multiple income streams well. That said, Xero is also worth checking out if you want a cleaner, more modern interface and great integrations. I’d suggest trying both with their free trials and seeing which one feels more natural for how you work.