Best Accounting Software
As a leading CPA focused on early-stage businesses, we’ve got some strong opinions on which accounting softwares are the best. In particular, for small, high-growth companies, QuickBooks Online is our typical recommendation.
Accounting Software Options
- QuickBooks Online - this is the leading accounting software for smaller companies in the US for a reason. Highly-flexible, works great for remote companies (and virtual CPAs), connects with banks, credit cards, Paypal, payroll software. Really the best accounting software for startups and most small businesses.
- QuickBooks Desktop - we no longer recommend this option for most companies. In particular, having a desktop software in the 2020’s is a bit of a backward statement about how seriously you take your books. That being said, the desktop version of QuickBooks is still pretty decent if you have a lot of inventory.
- Xero - more popular outside of the USA than in it, Xero is the second best option for companies that want a cloud-based accounting software but who don’t want to pay a bundle. Xero also have solid connections via APIs into banks, credit cards, Paypal, payroll software.
- NetSuite - Netsuite is best for companies when they have any of the following criteria: you expect to have 100+ employees within the next 6 months; you have will $10M+ in revenue within the next 6 months; you’ve got over six domestic subsidiaries or international subs; you operate in high volume, high complexity industries such as FinTech, B2C SaaS, or eCommerce, manufacturing, hardware AND you meet 50% of one or more of the criteria above.
- Sage Accounting - not the most modern UX, and the integrations may or may not work for your particular company. Some companies move up to the more expensive / robust / enterprise versions of Sage, but most of our clients choose NetSuite.
- FreshBooks - maybe an OK option for consultants and solo freelancers - but keep in mind, Kruze is a services/consulting firm, and we picked (and continue to use) QBO.
- Wave - an OK option for sole proprietors, but isn’t set up to sale.
Best Accounting Software for Specific Industries
At Kruze, we work with VC-backed businesses. These tend to cluster in specific industries - SaaS, crypto, eCommerce, biotech, hardware. Here are the best accounting software options by industry.
Best Option for SaaS companies
QuickBooks Online is the best accounting software option for SaaS companies. Software as a service businesses need to integrate specific billing and revenue systems - invoicing for B2B SaaS companies, and systems like Apple, Shopify, etc. for B2C ones. QBO is the best choice.
Best Option for eCommerce companies
QuickBooks Online is generally the best accounting software for small eCommerce businesses. As an eCommerce company gets bigger, it would make sense to upgrade to NetSuite, although Sage sometimes makes sense. However, these are overkill for a small business.
Best Accounting Software for Biotech Startups
Biotech companies can occasionally scale their accounting system needs more quickly than other types of startups. In general, a biotech company will most likely be best off starting with QuickBooks Online, but may transition to Netsuite or Intacct a bit more quickly than a SaaS or other startup.
Accounting Software and Crypto
If you startup is transacting in DeFi, Web3, etc., you need additional accounting software to scalably run your bookkeeping. While QuickBooks and (most) of the other providers we mentioned automatically pull in bank, payroll and credit card transactions, the same can not be said for Crypto. These transactions need an additional “add on” software package to pull transactions into your general ledger. This may not be a big deal if you are doing only a couple of transactions per month (although there are possible tax implications to worry about), as you or your accountant can enter the data manually. However, we strongly recommend a specialized accounting software plugin if these types of assets are going to be part of your business. Read our Best Crypto Accounting Software piece to learn more.
About Us
A CPA Firm Specialized in Startup Accounting & Finance
Startups are our niche, and our passion. Our clients have raised over $10 billion in venture capital financing. We are one of only a few outsourced accounting firms that specialize in funded early-stage companies - we only offer financial and tax services to fast growing startups in the Seed, Series A, Series B and Series C stages.
The Right Accounting Partner for Your Startup’s Next Round
We know how to de-risk your startup’s next venture capital round. Our team makes sure you are ready to fly through your next VC’s accounting, HR and tax due diligence. And when you use us as your bookkeeper, we set up and keep up-to-date a due diligence folder so you can get that next round of fundraising.
A Leader in Cloud Accounting Software
Our practice is built on best of breed cloud accounting software like QuickBooks, Xero, Netsuite, Gusto, Zenefits, Expensify, Avalara, Brex iand Bill.com. Technology makes us more efficient, saving our clients money and letting us offer higher value services like FP&A modeling, 409A valuation and venture debt consulting. Startups deserve to work with CPAs using modern software.
Trusted by Top Venture Investors
Top angel investors and VCs refer Kruze because they trust us to give the right advice. Our clients are portfolio companies of top technology and Silicon Valley investors, including Y-Combinator, Kleiner, Sequoia, Khsola, Launch, Techstars and more. With us, your books and taxes are in order when it’s time to raise another round of venture financing.
What types of startups does Kruze Consulting usually work with?
Kruze Consulting works with a variety of funded Delaware C-Corps, but the majority of our companies have secured Seed, Series A, Series B and Series C. We look to partner with our clients, going beyond the typical outsourced accounting relationship and seeking to provide a higher level advisory role. We feel honored to be a part of making the world a better place, even if it’s one debit and credit at a time.
Accounting, Finance, Taxes, & Payroll all in one solution
Startup CFO services, startup accounting and bookkeeping services, startup annual taxes, expense reports, payroll, benefits: we've got you covered. Our software provides custom tailored dashboards that can be provided weekly or monthly, depending on your preference and plan. Founders are often so busy building their company that they don’t have time to take care of their finances. Traditionally, these companies have had to work with a basket of people to get their work done, including bookkeepers, accountants, AP clerks, CFOs, consultants, and tax accountants. At Kruze Consulting, our founders have one point person, saving time and money.
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$250M+ VC Funding Raised
"I had a great experience working with Kruze Consulting when we raised Series A. They know what VCs need to see, and how to present a startup’s books and finances. If you are going to raise venture capital, you need experts like Kruze."
Chris Mansi
CEO
Startup Venture Capital Assistance
With former venture capitalists on staff, our team is here to help you navigate the fundraising process and manage your board of directors
COO | Former VC
VP FP&A | Former VC
Scale Remote Operations & Team
"Kruze has supported us above and beyond basic accounting needs by ensuring we have everything we need to expand and support our team wherever they may be located"
Zack Fisch
Head of Operations & Legal
Clients who have worked with Kruze have collectively raised over $12 billion in VC funding.
We set startups up for fundrising success, and know how to work with the top VCs.
Founder & CEO
Experienced team helping you
Our account management team is staffed by CPAs and accountants who have, on average, 11 years of experience.
VP of Accounting Services
Controller
SUT/R&D Sr. Tax Accountant
Controller, CPA
Grew from a 2-person startup to a NASDAQ listed public company.
"The Kruze team helped us grow from a 2-person startup to a NASDAQ listed public company in 2 years. We wouldn’t have gotten public without Kruze’s support. Anyone thinking of launching a startup should make Vanessa their first call!"
Jesse Shefferman
CEO