Congrats! Your business is now taking off! But with growth comes more transactions, more expenses, and (unfortunately) more accounting headaches. If you’re still tracking finances in spreadsheets or trying to DIY bookkeeping with outdated software, it’s time for an upgrade.
The right accounting software can save you hours of work, help you manage cash flow, and make tax season a breeze but only if you choose the right one. So, which one should you go with? Let’s break it down.
At Insogna CPA, a trusted CPA firm in Austin, Texas, we help small businesses and eCommerce sellers pick, set up, and optimize accounting systems that work for them. Here’s how to find the right fit.
Step 1: Figure Out What Your Business Actually Needs
Before diving into software comparisons, ask yourself: What do I need my accounting software to do? Because let’s be real: what works for a solo freelancer won’t cut it for an eCommerce seller processing hundreds of orders a day.
Here’s a quick cheat sheet based on your business type:
✔ Freelancers & Service-Based Businesses: Need invoicing, expense tracking, and simple tax reporting.
✔ E-commerce Sellers (Amazon, Shopify, Etsy): Must have inventory tracking, multi-channel sales reports, and automated sales tax calculations.
✔ Manufacturing & Wholesale: Look for job costing, raw materials tracking, and supply chain management.
✔ Growing Companies with Employees: Need payroll, cash flow forecasting, and real-time financial analytics.
Not sure what features you need? A quick chat with an Austin tax accountant can help you figure out the best setup for your business.
Step 2: Compare the Best Accounting Software Options
Now that you know what you need, let’s look at the most popular accounting tools and their pros and cons.
1. QuickBooks Online: The Gold Standard for Small Business
Best for: Small businesses, freelancers, service-based businesses
Key Features: Invoicing, bank reconciliation, expense tracking, payroll
Pros: Easy to use, integrates with hundreds of apps, cloud-based
Cons: Can get pricey as you scale, not ideal for complex inventory
Perfect for businesses that need an all-in-one, easy-to-use accounting tool. Need help setting up QuickBooks in Austin? Insogna CPA has your back!
2. Xero – Best for Startups & Online Businesses
Best for: Tech startups, digital businesses, service providers
Key Features: Automated bank feeds, invoicing, project tracking
Pros: More affordable than QuickBooks, great for international businesses
Cons: Learning curve, fewer integrations than QuickBooks
Xero is a great pick for tech-savvy entrepreneurs who want automation at a lower cost.
3. NetSuite – For Businesses That Need All the Bells & Whistles
Best for: Large businesses, manufacturers, eCommerce sellers scaling fast
Key Features: ERP system, inventory management, automated workflows
Pros: Covers accounting, CRM, and inventory in one platform
Cons: Expensive, requires setup and training
If your business is growing rapidly and needs advanced tracking, NetSuite is worth considering.
4. Wave – The Free Option for Solopreneurs
Best for: Freelancers, consultants, solopreneurs
Key Features: Free invoicing, expense tracking, and reporting
Pros: 100% free, simple to use
Cons: No advanced features, limited customer support
Wave is a great starter option, but most businesses will outgrow it quickly.
Step 3: Pick Software That Works for Your Industry
Every industry has unique accounting challenges, so your software needs to handle them.
✔ E-commerce & Retail: Shopify, Amazon, and Etsy sellers should use QuickBooks, NetSuite, or Xero with integrations like A2X for automated transaction tracking.
✔ Manufacturing & Wholesale: You’ll need inventory management, job costing, and supplier tracking—NetSuite or QuickBooks Enterprise can help.
✔ Service-Based Businesses: If your income is client-based, Xero or QuickBooks will likely be your best bet.
Need help integrating your accounting software with your other business tools? A CPA in Austin, Texas can set everything up so your numbers are always accurate and up to date.
Step 4: Real-Time Accounting = Smarter Business Decisions
Choosing the right accounting software isn’t just about tracking income and expenses, it’s about having instant access to your finances so you can make better decisions.
Here’s why real-time accounting is a game changer:
✔ Know your cash flow at all times (no more guessing if you can afford that new hire).
✔ Make tax season stress-free (because everything is already organized).
✔ Plan for growth with accurate profit and loss reporting.
✔ Stay compliant with automated sales tax and payroll reporting.
When your accounting is dialed in, you can focus on growing your business. A small business CPA in Austin can help you set up automated accounting that works for you.
Step 5: Get Expert Help Setting Up Your Accounting Software
Picking the right software is just the first step. Setting it up properly is what makes the real difference.
At Insogna CPA, one of the most trusted CPA firms in Austin, Texas, we help businesses:
✔ Choose the right software based on industry & business needs
✔ Automate bookkeeping so financial tracking is effortless
✔ Optimize accounting workflows for tax planning & cash flow management
Need help setting up your accounting system? Let Insogna CPA handle it for you. Schedule a free consultation today!