As businesses continue to evolve, managing finances efficiently is critical to success. Cloud-based accounting software has become a game-changer, offering businesses access to real-time data, automation, and seamless collaboration.Â
With an increasing number of solutions available, choosing the right software is essential for improving productivity, ensuring compliance, and making data-driven decisions.Â
In 2025, several cloud-based accounting tools stand out for their comprehensive features, ease of use, and scalability, making them ideal for businesses of all sizes. This list highlights the top cloud-based accounting software designed to streamline financial operations and enhance overall business management.
Refrens
Refrens, trusted by over 150,000 businesses across 170+ countries, is a cloud-based accounting software designed to streamline financial management for businesses of all sizes.Â
It provides a comprehensive range of tools, including invoicing, ledger management, inventory tracking, and expense management.Â
With Refrens, users can easily create and manage essential financial documents such as invoices, quotations, sales orders, and credit/debit notes—all from a single, centralized platform.
Key Feature
- Invoicing Software: Create and manage invoices effortlessly with features like multi-currency support, automated recurring invoices, and payment reminders.
- Invoice API: Automate invoice generation directly on your website or app using the Refrens Invoice API.
- Audit Trails: Monitor every change to invoices with detailed audit trails for transparency and accountability.
- Advanced Accounting & Bookkeeping: Generate ledgers, journal entries, and essential financial reports like Balance Sheets, Profit & Loss Statements, and Trial Balances automatically.
- Tax Compliance: Ensure accurate tax calculations and compliance with automated sales tax reports.
- Reports and Analytics: Access in-depth financial insights with reports on balance sheets, profit & loss, and payment tracking.
- Client Management: Simplify invoicing, payments, and reporting for your clients in one place.
- Expense Management: Track and manage operational expenses, including salaries, reimbursements, and utility bills, with real-time updates.
- Inventory Management: Integrate inventory tracking with invoicing and gain detailed analytics for better stock management.
- Third-Party Integrations: Seamlessly connect with platforms like Shopify, Facebook, and Instagram to optimize workflows.
- Multi-User Support: Facilitate secure collaboration with role-based access for multiple users.
QuickBooksÂ
QuickBooks Online is a widely used accounting software designed specifically for small businesses. It provides key features such as income and expense tracking, invoicing, and detailed financial reporting, all through an easy-to-use interface.Â
As a cloud-based solution, it enables access to financial data anytime, anywhere, and integrates seamlessly with various apps to simplify and enhance business operations.
Key Feauture
- Invoicing and Payments: Easily create, send, and track invoices while accepting payments online through multiple methods, including credit cards and bank transfers.
- Expense Tracking: Automatically sync and categorize transactions from your bank and credit cards for a clear view of your spending.
- Tax Deductions: Identify potential tax deductions with QuickBooks, streamlining tax preparation and maximizing savings.
- Job Costing: Monitor project profitability by comparing actual expenses with estimates to identify the most lucrative projects.
- Inventory Management: Track stock levels in real time to avoid overstocking or running out of items.
- Custom Reports: Generate customized financial reports, including profit & loss statements, balance sheets, and cash flow reports, for informed decision-making.
- Bill Management: Organize and manage vendor bills online to ensure timely payments and avoid late fees.
Wave
Wave is a free, cloud-based accounting software tailored for small businesses and freelancers. It provides core accounting features such as invoicing, expense tracking, and receipt management.Â
With real-time bank syncing, tax-ready financial reports, and integrated payment processing, Wave streamlines financial management, making it simple and accessible for its users.
Key Features
- Double-Entry Accounting: Maintain accurate and reliable financial records with Wave’s robust double-entry accounting system.
- Unlimited Bank Connections: Sync transactions seamlessly from multiple bank accounts, ensuring up-to-date financial tracking.
- Customizable Invoicing: Design professional, custom invoices and set up recurring billing for repeat customers.
- Expense Tracking: Categorize and monitor expenses effortlessly for better financial management.
- Receipt Management: Digitally upload and organize receipts using the mobile app for streamlined expense tracking.
- Tax-Ready Reports: Generate detailed financial reports like profit & loss statements and balance sheets to simplify tax preparation.
- Integrated Payments: Accept credit card and bank payments directly from invoices, ensuring faster payment processing.
Bill.com
BILL is a comprehensive financial operations platform designed to streamline accounts payable (AP), accounts receivable (AR), spending, and expense management.Â
By automating workflows and integrating seamlessly with accounting software, BILL reduces manual tasks, boosts efficiency, and provides businesses with greater control over their financial processes.
Key Features
- Automated AP & AR: Save 50% of your time on AP tasks and get paid twice as fast with automated AR processes.
- International Payments: Facilitate payments to over 130 countries, simplifying global business transactions.
- Mobile Access: Manage bills, approvals, and expenses on the go with a user-friendly mobile app.
- Budget & Expense Management: Gain control over spending with expense management tools, corporate cards, and virtual cards.
- Artificial Intelligence: Leverage AI-driven automation to reduce errors and speed up payment processes.
- User Roles & Controls: Enhance security and fraud protection with customizable roles, permissions, and approval workflows.
NetSuite
NetSuite Cloud Accounting Software is a comprehensive solution designed to simplify accounting processes, optimize financial management, and ensure compliance with regulatory standards such as GAAP and ASC 606.Â
With embedded AI capabilities, it automates repetitive tasks, providing real-time financial insights and enabling businesses to focus on growth and strategy.
Key Fearures:
- General Ledger
Customize account types and reporting segments while maintaining enhanced audit trails. - Accounts Payable & Receivable
Automate invoice processing, payments, and collections to streamline cash flow. - Tax Management
Simplify tax compliance with automated calculations and multi-jurisdictional support. - Cash & Fixed Assets Management
Gain real-time cash flow visibility and efficiently manage asset depreciation and life cycles. - Reconciliation & Close Management
Accelerate the financial close process with robust tools for accurate reconciliation. - Payment Management
Facilitate seamless payment processes with integrated tools.
Xero
Xero provides small businesses, accountants, and bookkeepers with an efficient cloud-based accounting platform. It simplifies daily business tasks by automating manual work, updating financial records in real-time, and offering seamless collaboration with unlimited logins.Â
Xero integrates with over 1,000 third-party apps and includes specialized tools for industries like retail, construction, Amazon sellers, and nonprofits. Developed in New Zealand as a SaaS platform, it is accessible on any computer or smartphone
Key Fearures:
- Invoicing & Payments
Send professional invoices, accept payments online, and automate reminders to ensure timely collections. - Bank Reconciliation
Sync with over 21,000 global banks, auto-categorize transactions, and maintain accurate records. - Expense Management
Capture receipts, track spending, and reimburse expenses effortlessly. - Inventory Management
Monitor stock levels, generate purchase orders, and track sold items seamlessly. - Multi-Currency Support
Manage global operations with real-time currency conversion and multi-currency reporting. - Payroll Processing
Run basic pay cycles and generate payroll reports for a small workforce. - Reports & Analytics
Access detailed financial reports, cash flow projections, and performance metrics for data-driven decisions. - Project Tracking
Budget, plan, and invoice projects while tracking time and costs effectively. - File Storage
Store and manage contracts, bills, and receipts securely in the cloud. - Customizable Integrations
Extend functionality by connecting with apps via the Xero App Store.
Zoho BooksÂ
Zoho Books is a simple and budget-friendly accounting software that businesses have trusted for a long time. It smoothly connects with Office 365, Slack, GSuite, and various payment services, and also supports add-on APIs and mobile apps.Â
This all-in-one solution includes a general ledger, tracks income and expenses, handles reconciliations, and offers helpful reports and analytics.Â
Users can also export their data whenever needed. Additionally, Zoho Books has multiple mobile apps, making it easy to manage company finances on the go.
Key Features:
- Tax Compliance
Stay up to date with GST and e-invoicing requirements by automatically applying tax rates, filing GST returns directly from Zoho Books, and maintaining accurate records for compliance. - Bank Reconciliation
Link multiple bank accounts, fetch transactions automatically, and match them with your bookkeeping records using intelligent categorization for faster, error-free reconciliation. - Inventory
Track stock levels, set reorder points, manage composite items, and sync product data across e-commerce platforms to maintain precise control over your inventory and avoid stockouts. - Projects Accounting
Convert time and tasks into billable invoices, set budgets for projects, record billable or non-billable expenses, and monitor profitability with real-time insights and timesheets. - Payroll
Simplify payroll processing by integrating employee pay runs, tax calculations, and salary disbursements directly into your accounting system for unified financial oversight. - Reports
Gain in-depth visibility into your business health with 70+ built-in and customizable reports, including Profit & Loss, Balance Sheet, and Cash Flow statements for informed decisions. - Collaboration
Invite customers, vendors, and accountants to dedicated portals; exchange messages, negotiate quotes, and share transactions securely to streamline communication and reduce turnaround time. - For Accountants
Provide your accountant with real-time access to manage the chart of accounts, create manual journal entries, handle multi-currency adjustments, and lock transaction periods to maintain accuracy. - Workflow Automation
Automate repetitive tasks such as creating invoices or sending payment reminders, and set up triggers to notify team members or update records, ensuring efficiency and consistency. - Customization
Tailor Zoho Books to match your business needs with custom fields, templates, and reports—reflecting your unique workflows and branding in every transaction. - Integrations
Connect Zoho Books with popular payment gateways, third-party apps, and Zoho’s ecosystem—boosting productivity and streamlining your accounting processes across platforms.
FreshBooksÂ
FreshBooks is a user-friendly accounting software tailored for freelancers and small businesses, offering tools to streamline invoicing, expense management, and financial reporting.Â
It automates tasks like time tracking and billing, and supports multi-user access for seamless team collaboration.
Key Features:
- Invoicing & Payments: Create professional invoices and accept payments online via credit cards and bank transfers for faster cash flow.
- Expense Tracking: Automatically capture and categorize expenses while managing receipts to monitor spending effectively.
- Time Tracking: Log billable hours for projects and ensure precise invoicing based on time spent.
- Bank Reconciliation: Sync your bank account to automate reconciliations and maintain accurate cash flow records.
- Double-Entry Accounting: Manage your general ledger, journal entries, and balance sheets to stay compliant and make informed decisions.
- Project Profitability: Monitor the profitability of each project, identifying which ventures contribute the most to your success.
SAP Financials
SAP S/4HANA Finance is a cutting-edge solution tailored for large enterprises, offering intelligent automation and machine learning to streamline financial operations, enhance compliance, and provide real-time insights.Â
With a single source of financial truth, SAP ensures reliable data for smarter decision-making across all financial processes.
Key Features:
- Automated Financial Close: Simplifies and accelerates financial close processes with automation, reducing manual workloads and ensuring accurate consolidation and reporting.
- Group Reporting: Delivers unified reporting for local and group-level data with the ability to drill down from consolidated reports to transactional details.
- Central Finance: Offers a centralized platform for managing financial data, seamlessly integrating multiple systems for consolidated financial oversight.
- Continuous Accounting: Enables real-time performance tracking and distributes tasks across the accounting period to reduce end-of-period pressure.
- Advanced Analytics & Machine Learning: Leverages machine learning to optimize reconciliations and provides actionable insights for quicker, data-driven decisions.
Conclusion
Cloud-based accounting software has revolutionized the way businesses handle their financial management. The solutions listed above offer robust features that address a wide range of needs, from invoicing and expense tracking to inventory management and tax compliance.Â
With powerful integrations and automation, these tools help businesses save time, reduce errors, and focus on growth. Whether you’re a small business owner or part of a large enterprise, selecting the right cloud-based accounting software can lead to better financial control and smarter decision-making. Take the time to explore these options and find the best fit for your business’s needs.
FAQs
- What is cloud-based accounting software? Cloud-based accounting software allows businesses to manage financial data and perform accounting tasks online, providing access to real-time financial insights from any location.
- How does cloud accounting software benefit small businesses? It helps small businesses streamline their accounting processes, save time on manual tasks, automate reporting, and ensure tax compliance—all while reducing operational costs.
- Is cloud-based accounting software secure? Yes, cloud-based accounting software typically uses high-level encryption, two-factor authentication, and regular backups to ensure data security and protection against cyber threats.
- Can cloud accounting software integrate with other tools? Yes, most cloud accounting platforms offer seamless integration with various third-party apps like payment gateways, e-commerce platforms, and CRM systems.
- Do I need to be tech-savvy to use cloud accounting software? No, most cloud accounting software is designed to be user-friendly and intuitive, with minimal technical knowledge required for everyday tasks.
- Can I access my financial data remotely? Yes, one of the main advantages of cloud accounting software is the ability to access your financial data and perform tasks from anywhere, as long as you have an internet connection.
- How much does cloud-based accounting software cost? Pricing for cloud-based accounting software varies depending on the features and the size of your business. Many platforms offer tiered pricing, with basic plans for small businesses and more advanced options for larger enterprises.
- Can cloud accounting software help with tax filing? Yes, most cloud-based accounting software includes features that help businesses manage tax calculations, generate tax reports, and even file returns electronically.
- How does cloud accounting improve collaboration among teams? Cloud accounting software allows multiple users to access and work on the same data in real-time, facilitating better collaboration, role-based access control, and faster decision-making.
- What type of businesses should use cloud-based accounting software? Cloud accounting software is ideal for businesses of all sizes, from freelancers and small businesses to larger enterprises, offering scalable solutions to meet various needs.