9 Best Online Business Budgeting Software Solutions for Small Business
Last Updated on December 28, 2022 by Selina Parker
If you’re like most small business owners, you wear a lot of hats. You probably don’t have time to do monthly expense management, run reports, or manage your budget. That’s where online business budget software comes in.
It can help automate many of the financial tasks essential to running a small business. This blog post will compare some of the best small business budgeting software solutions on the market today.
What is business budgeting software?
Small businesses use software programs to create and automate the budgeting process. Budgeting software allows small business owners to automate many financial tasks, such as tracking expenses and running reports.
For small business owners, having a budget is essential. A well-managed budget can help you make informed business decisions, keep track of your cash flow, and plan for the future.
But creating and managing a small business budget can be difficult, especially if you don’t have accounting experience. That’s where small business budgeting software comes in.
Why is small business budgeting software necessary?
Small businesses need good accounting practices to survive in today’s competitive market. The most successful small businesses can keep track of their expenses, manage their cash flow, and make informed business decisions.
A well-managed budget is a key to achieving all of these goals. Small business budgeting software can help you do all of this and more.
Best Budgeting Software for Small Businesses
There are many small business budgeting software solutions on the market today. Here is a list of some of the best ones:
1. Quickbooks Online
QuickBooks Online is our top overall pick for the finest software for small businesses on a budget. Despite being considered accounting software, QuickBooks may automate virtually all of your financial business operations, including invoicing and billing. Thanks to the user-friendly interface and dashboard, you may keep track of your financial budget and costs with ease.
Why did we pick it
QuickBooks Online also has a wealth of reporting tools, which is most important. Creating profit and loss statements and other vital financial reports can be time-consuming.
Small businesses may use QuickBooks’ built-in reporting features to make the process easier. You may also use QuickBooks to connect with hundreds of third-party applications to customize your program further.
Best Features
- You’ll need to keep track of your expenditures to know where your money goes.
- Automatically deduct sales tax
- Keep accurate track of your payments and bills
- Keep track of all the items you buy and sell
- With straightforward reports, you can keep track of your cash flow
Pricing
Simple Start Plan: $10/month
Essentials plan: $20/month
Plus plan: $35/month
Advanced plan: $60/month
2. Scoro
The score combines budgeting tools with other applications to handle your entire business in one system. You may track expenses and resources, use a financial dashboard, and administer project budgets.
Why did we pick it
Scoro combines budgeting, CRM, and project management tools to allow you to handle your entire business while getting access to all financial information in one place.
Best Features
- Budgeting and forecasting
- Auditing and reporting
- You can set any amount for your project budgets
- Dashboard for financial KPIs
- Professional services automation and invoicing
- An automatic income stream from invoices
Pricing
$26 user/month
14-days free trial
3. Centage
Centage is a software company that develops different tools known as Maestros for budgeting, forecasting, financial reporting, and other functions. If you’re searching for a comprehensive tool, Centage may be the answer.
Why did we pick it
Centage integrates with various other business management systems, including SAGE, Dynamics, and QuickBooks.
Best Features
- Budgeting and planning
- Forecasts
- Financial dashboard and reporting
- Comprehensive analytics
Pricing
Available upon request
4. Float
Float is a user-friendly, cloud-based software that helps you plan and track your expenses. Float works with Xero, Quickbooks Online, and Free Agent to provide seamless integration.
Why did we pick it
Budgeting and cash flow management software, Float, is a highly visual and user-friendly tool for bringing clarity to your business’s budgets and cash flow.
Best Features
- Forecasting of cash flow
- Creating a budget
- Visually appealing reports
Pricing
Small (1 user account): $35/month
Medium (3 user accounts): $59/month
Large (10 user accounts): $119/month
5. Prophix
Prophix has developed a software solution for corporate performance management, which it claims includes numerous smaller tools for managing a company’s resources and preparing its budgets.
Why did we pick it
Pophix is a scalable platform that small businesses can use and adapt to meet their needs, and they can continue to use as they grow.
Best Features
- Budget, plan, and forecast expenses
- Reporting on financial, statutory, and management data
- Financial planning
- Models for determining how you can meet your company’s goals and potential outcomes
- Planning for employees
Pricing
Available upon request
6. Planguru
Compared to Centage and Prophix, Planguru is a less complicated budgeting program that may be ideal for managing your small company’s finances.
Why did we pick it
Planguru has an analytics program that aids in obtaining a better perspective of finances and making more informed decisions. It is helpful if you are not profoundly familiar with financial accounting.
Best Features
- Integrated Financial Statement Style Structure That Is Pre-Built
- Payroll Utility
- Professional Accountants’ Engagement Tools
- 20+ Standard Forecasting Techniques
- Using Non-Financial Data to Make a Forecast
7. Sage 50cloud
Sage 50cloud is an online accounting solution that tracks your finances, cash flow, invoicing, taxes, and inventory. It also comes with additional payroll, credit card processing, and other business needs.
Why did we pick it
This software is best for small to medium businesses because of its scalability and adaptability to a business’s needs as it grows.
Best Features
- Keep track of your spending, purchases, and bills.
- Pay employees with ease, report taxes, and track benefits.
- Reports on sales, pending expenses, profits, and taxes are available
- Keep a record of all your clients
- An unmistakable dashboard that displays how your company is progressing
Pricing
It starts at $46.83 per month
8. Tradogram
Tradogram is a cloud-based procurement software that allows you to manage costs and suppliers and maximize your profits. Overall, it reduces the time and effort required to purchase by simplifying and automating the process.
Why did we pick it
It’s perfect for businesses on a budget looking for a cost-effective procurement management system to track their direct and indirect costs and improve the whole purchasing process.
Best Features
- Create a purchasing procedure that suits your company’s requirements
- Organize a supplier listing with all of the pertinent information
- Create your budgets and make budget plans for project spending
- Keep a running inventory
- Create your reports based on the data you’ve collected
Pricing
Starts at $10 per/month
9. BillQuick
Budget software for small and medium-sized enterprises called BillQuick includes project management, time recording, and billing features. This user-friendly solution has everything you’ll need to run your company, even if you’re not tech-savvy.
Why did we pick it
It is the ideal software for IT Companies, legal offices, construction and architecture firms, and accounting companies because of its time and billing features.
Best Features
- Create and manage invoices with ease
- Billing on an automatic basis
- Time spent working is recorded in this section, and personal time off, compensation time, overtime wages, sick pay, vacation, and holidays.
- Organize your finances
- Users can access the platform effortlessly
Pricing
Starts %19.95 per user/month
What to look for in a budgeting software
Third-party software integrations
There are various budgeting software options on the market, and many small businesses find that the best business budget software for them is third-party software integration. When you’re looking for budgeting software, be sure to ask about the availability of integrations with your other favorite programs.
Ease of use
Some small businesses have a small team that might not include someone with accounting expertise. Budgeting software should be easy enough for anyone in the office to use, so look for one that minimizes data entry as much as possible while still providing users with the information they need.
Customizable features
As your small business grows, you’ll likely want to customize your budgeting software to fit your specific needs. Ensure the software you choose offers this flexibility so you won’t get locked into a system that can’t grow with you.
Cloud-based or desktop
When it comes to budgeting software, there are two main choices: cloud-based or desktop. Cloud-based software is accessible from any device with an internet connection, while you have to download on your computer a desktop software. Both have their pros and cons, so decide which is best for you before purchasing.
Pricing
The pricing for budgeting software can vary widely depending on the features you’re looking for, whether it’s cloud-based or desktop software, how many users need access to it, and more.
Final thoughts
Budgeting is a complicated small business task that takes a lot of time and effort—especially if you want to make sure your small business stays in the black. Budgeting software can take a lot of that burden off your shoulders, and the right choice will make it easy to get the information you need when doing strategic planning.
When shopping for budgeting software, keep in mind the features you need most and how customizable the software should be. With so many options on the market, you will find one suitable for your business.
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