What are the top five accounting software solutions for mid-market companies?
When you’re looking for accounting software solutions, you might be easily overwhelmed by all your options. There are programs built for specific industries and precise functionalities. But how do you know which software programs are viable options for your organization? We’re here to help!
We reviewed G2’s Mid-Market Grid Report for Accounting to determine the best software programs, their features, and customer satisfaction ratings. Here’s an overview of the top five accounting software solutions for mid-market companies.
1. Sage IntacctSage Intacct is an enterprise resource planning (ERP) software. ERPs are integrated business management software programs that automate administrative or support tasks.
Sage Intacct is built on the cloud and accessible with any device that has an internet connection. The basic building block of Sage Intacct is its core financials module. With this module, you gain access to key accounting functions like accounts payable, accounts receivable, the general ledger, and more.
This software allows you to create customized automations around invoice workflows and approvals. And set spending limits to align with your budget. You can offer more payment options, attach documents to transactions, and set up recurring invoices. The cash management module shows all payments and transactions across checking, savings, and credit cards for all locations and entities, so you’re always in control of your cash. And with greater automation and visibility, you have the opportunity to scale with ease.
In addition to the core financials, you can add more features that apply to your business. If you have multiple branches, you might add multi-entity management. If you have inventory to track, distribute, and order, you might add-on inventory management and vendor payment services.
Sage Intacct highlights its flexibility to adapt to your business model, goals, and finance structure. You can streamline processes, set up workflows, and forecast future profitability. And build and customize intuitive charts, reports, and dashboards that help guide your decisions. Plus, your financial data is updated and accurate in real-time.
Sage Intacct also has a marketplace of apps you can connect to, such as Salesforce, Expensify, Bill.com, Stripe, Avalara, ADP, and American Express.
Sage Intacct customers
Sage Intacct identifies itself as a good fit for mid-market and enterprise companies (1,000+ employees). It serves organizations within the following industries: accounting firms, financial services, franchises, health care, hospitality, nonprofit, professional services, software and SaaS, and wholesale distribution.
Sage Intacct reviews & G2 rankings
According to G2’s mid-market report, Sage Intacct is No. 1 in customer satisfaction, with an overall customer satisfaction score of 95%. In G2’s all segments list (300+ accounting software solutions), Sage Intacct scored the No. 3 rank in customer satisfaction. And, the AICPA selected Sage Intacct as its only preferred financial management solution.
Explore the world of Sage Intacct during this free product demo.
2. FreshBooksFreshBooks is a cloud-based invoice and accounting software designed specifically for small businesses. Its solutions are built around your company’s stages of growth. As your needs expand, FreshBooks has options.
Features on the Lite plan include sending invoices, tracking time, and managing receipts, expenses, and accepting credit cards. But you’re limited to billing five clients. Premium packages offer more robust billing solutions, business management tools, and client-based features. Additional costs depend on the number of team members and other add-on options. Check out the FreshBooks plan comparison chart to compare plans.
All users have access to the mobile app, so you can connect with clients on-the-go, send invoices on the road, and upload receipts from anywhere.
FreshBooks also offers a variety of integration options. Popular apps include Shopify, Squarespace, Slack, Gusto, G Suite by Google Cloud, Zoom, and HubSpot.
FreshBooks is best for small to medium-sized, service-based businesses, including freelancers, self-employed professionals, businesses with contractors, and businesses with employees. It highlights marketing and advertising, accounting, construction, and computer software as its top-served industries.
FreshBooks reviews & G2 rankings
FreshBooks is ranked No. 2 in customer satisfaction by mid-market company users, with a satisfaction score of 94%. However, FreshBooks tops the all-segments list, securing the No. 1 rank in customer satisfaction. And G2 ranked FreshBooks as the No. 1 solution in its Top 20 Easiest To Use Accounting Software list.
Learn more about FreshBooks through verified user reviews.
3. BlackLineBlackLine is a cloud-based finance controls and automation platform. This unified technology solution is built on a single codebase, providing a centralized workspace for easy management and control.
Its automated accounting workflows smooth the end-to-end financial close process and help streamline financial reporting. This Continuous Accounting approach facilitates constant monitoring for fraud and discrepancies, offering greater financial visibility to your business.
BlackLine’s cloud-based software is built specifically for finance and accounting, providing solutions for companies of every size. Its most represented industries include accounting, information technology and services, and computer software.
BlackLine reviews & G2 rankings
According to G2, BlackLine is ranked No. 3 in customer satisfaction for mid-market companies. Users scored BlackLine’s ease of use and ease of doing business with a 92% and 91% in meets requirements.
BlackLine also made G2’s Top 10 list in customer satisfaction and popularity among all segments. See why companies choose BlackLine as their accounting software solution here.
4. QuickBooks Desktop ProQuickBooks Desktop Pro is on-premise accounting software. This means you download the software, install it on your computer, and use the desktop application. For on-premise solutions, you’ll want to make sure you have the right technology infrastructure and system requirements to run and use the software fluidly.
There are various Pro packages to choose from – one of which includes a cloud hosting service which could help you avoid any IT expenses. With QuickBooks Desktop Pro, you can have one to three users in the system, depending on which product you buy.
You can download bank and credit card transactions into the software. You’re able to track sales, sales taxes, and customer payments. And send invoices, print checks, pay bills, and track expenses.
In Desktop Pro’s latest version, you can automatically categorize bank transactions – limiting time entry, schedule statement emails, customize payment receipts, and capture receipt data from your mobile device. Pay attention to any items sold separately or features that require additional subscriptions.
QuickBooks Desktop Pro customers
Desktop Pro isn’t built for specific industries, but like most QuickBooks products, it can work for contractors, manufacturers, and professional services.
QuickBooks Desktop Pro reviews & G2 rankings
QuickBooks Desktop Pro is also highly rated on G2 with a 90% customer satisfaction score for mid-market companies. And Desktop Pro ranked No. 4 in G2’s list of the Top 20 Easiest To Use Accounting Software.
Read why customers chose QuickBooks Desktop Pro here.
5. AcumaticaAcumatica Cloud ERP is a great solution for digitally resilient companies. Its business management applications provide integrated workflows that can assist in the growth of your business.
Acumatica offers six industry-focused products – General Business, Distribution, Manufacturing, Construction, Retail-Commerce, and Field Service. Each of these products is a customized package made up of the core elements you need to run your business. Features range from financials and project accounting to inventory management and CRM.
You’ll gain greater business insights with hundreds of financial and operational reports, leverage business intelligence tools (i.e., Microsoft Power BI), and own your data in your preferred format – whether that’s on a public cloud, private cloud, or on-premise. And the program is built for mobile and telework scenarios and easily integrated with popular collaboration tools.
The Acumatica marketplace offers various integration options, including Fusion, Velixo, Phocas, Prophix, and Biz-Tech Shopify Connector.
Acumatica markets itself as a good fit for growing, small, and mid–market companies. Clients include manufacturing, distribution, construction, services, and retail and eCommerce companies.
Acumatica reviews & G2 rankings
Acumatica is rated No. 8 in customer satisfaction and popularity by mid-market companies. When looking at all segment rankings, it leaps to the No. 2 spot in the same categories.
See what verified users love about Acumatica here.
If you read through the G2 reviews, you know that each of these accounting software solutions can be a great fit for certain businesses and organizations. As an accounting firm, we’ve had experience working with both QuickBooks and Sage Intacct.
QuickBooks can work well for new businesses and individuals with minimal accounting experience who are managing the basic financials – paying bills, receiving payments, running basic income and expense reports. It’s a good product for tracking basic accounting and finance transactions. But as your business grows, you need greater functionality, advanced reporting, and the ability to automate your processes.
That’s why we recommend Sage Intacct. It gives you these abilities (and many more!) while keeping your IT costs low. And its user-friendly interface and built-in automations enhance internal controls to reduce errors and save costs.
As your business changes, it can quickly scale with access to performance insights and profitability forecast reports. You gain a solid yet flexible framework for growth.
At the end of the day, researching and finding a new accounting solution isn’t an easy task. When you’re starting your search, take time to identify your business needs, pain points, growth goals, and connectivity between systems. How will each software deliver the results you need? A financial system is a critical investment. Find the right software so you can see the ROI. See what verified users love about Acumatica.
Download G2’s Grid Report for Mid-Market ERP Systems to get an independent look at software programs, their features, and customer satisfaction ratings.