The 10 Best Accounting Software Tools for SaaS in 2024​

Are you a SaaS business looking for the best accounting software tools? If so, then you’ve come to the right place!

We’ve rounded up the top 10 accounting software tools for SaaS businesses, so you can find the perfect fit for your needs. Read on to learn more about these amazing tools!

What is the best accounting software for SaaS companies?

SaaS companies have specific accounting needs due to the subscription-based nature of their business models. As such, it’s important to choose the right accounting software for your business.

Here are some of the best accounting software tools for SaaS companies:

Stripe – Stripe is a secure online payment service that provides businesses of all sizes with the ability to accept payments.

QuickBooks Online – This popular accounting software is ideal for SaaS companies due to its cloud-based nature and prebuilt MRR reporting.

FreshBooks – FreshBooks offers an easy-to-use accounting solution for small businesses and sole proprietors.

Sage Intacct – This comprehensive accounting solution includes features such as invoicing, cash flow management, and expense tracking.

SAP Concur – SAP Concur is an all-in-one financial software solution that offers expense tracking, invoicing, and more.

Zoho Books – Zoho Books is an online accounting software solution that includes features such as invoicing, inventory tracking, and purchase orders.

Wave Accounting – Wave Accounting is a free accounting software solution that includes features such as invoicing, expense tracking, and financial reporting.

NetSuite ERP – This comprehensive accounting solution includes features such as financial reporting, inventory management, and customer support.

Less Accounting – Less Accounting is a cloud-based accounting software solution designed for businesses of all sizes.

Tipalti – Tipalti is a cloud-based accounting solution designed for SaaS companies, with features such as revenue recognition, automated payments, and more.

What is SaaS revenue accounting?

SaaS revenue accounting is a process of tracking income and expenses related to products and services offered on a software-as-a-service (SaaS) platform. It involves tracking income from subscription payments and recurring revenue, as well as expenses associated with providing the services.

It also involves recognizing revenue in accordance with accounting standards and preparing financial statements to ensure accurate reporting. Tracking SaaS revenue is important for businesses to properly recognize and report revenue for tax purposes, and to make sure that revenue and expenses are properly tracked and accounted for.

With the right accounting software, businesses can easily monitor and manage their SaaS revenue and expenses.

QuickBooks Online

QuickBooks Online is a popular accounting software for SaaS companies, providing cloud-based accounting solutions for businesses of all sizes. It has a wide range of features, such as invoicing, bill payment, reconciliation, payroll, and more.

It also offers automated financial reporting, so you can easily track and analyze your business’s performance. It also has a mobile app, so you can access your financial data from anywhere.

With QuickBooks Online, businesses can also use third-party apps to further customize their accounting process.

FreshBooks

FreshBooks is another popular cloud-based accounting software for SaaS companies. It offers features such as expense tracking, invoicing, time tracking, project management and reporting. It also has a mobile app for easy access on the go.

The software is designed to help streamline the accounting process for SaaS companies and is simple to use, even for those without accounting experience.

FreshBooks is especially useful for businesses that require subscription-based billing, as it allows them to easily manage their recurring payments.

Sage Intacct

Sage Intacct is another excellent accounting software solution for SaaS companies. It offers a suite of integrated modules for the automation of accounting processes.

These modules include revenue recognition, subscription billing, and revenue forecasting. This platform also provides customizable dashboards, reporting, and analytics.

With Sage Intacct, SaaS companies can track and measure their performance and make more informed decisions. Additionally, Sage Intacct provides scalability to accommodate the changing needs of SaaS businesses.

It also integrates with other leading systems such as Salesforce, Slack, and Zendesk for a smooth workflow.

SAP Concur

SAP Concur is an industry-leading enterprise resource planning (ERP) solution for SaaS companies. It provides comprehensive financial management and reporting capabilities. It also enables users to easily manage and track expenses, generate invoices, and manage subscription billing.

With the help of its intuitive dashboard, it’s easy to see key performance indicators (KPIs) such as revenue and profit. Additionally, SAP Concur’s Advanced Reporting feature allows users to access real-time data and analyze it in order to make informed decisions.

Zoho Books

Zoho Books is an accounting solution designed for small businesses and SaaS companies. It provides features such as invoicing, expense tracking, and financial reporting. Zoho Books also offers integration with other Zoho applications such as Zoho CRM and Zoho Campaigns.

It is an ideal solution for SaaS companies due to its comprehensive set of features and easy-to-use interface. Zoho Books also has a mobile app, so users can access their accounts on the go. With Zoho Books, SaaS companies can track their income, expenses, and manage their finances with ease.

Wave Accounting

Wave Accounting is a comprehensive accounting software solution that is designed to make it easier for businesses to stay on top of their financials. It offers a range of features that make it ideal for businesses of all sizes, including SaaS companies.

Wave Accounting makes it easy to track expenses and income, manage accounts receivable and payable, and generate reports. The software also offers real-time data synchronization and secure banking integration, ensuring that all your financial information is always up to date.

Additionally, Wave Accounting offers features such as automated invoicing, inventory management, and payroll. This makes it an ideal choice for businesses that need a comprehensive accounting solution.

NetSuite ERP

NetSuite ERP is one of the most widely used enterprise resource planning (ERP) solutions for SaaS companies. This cloud-based ERP system provides seamless integration with other business systems, allowing you to streamline your accounting processes.

It also offers powerful analytics capabilities that let you gain insights into business performance and make informed decisions. NetSuite ERP is designed to help SaaS companies manage their finances more efficiently, with features such as billing and invoicing, subscription management, and automated financial reporting.

The platform also includes multi-currency support, enabling you to manage accounts in multiple currencies. It also offers customizable dashboards and reporting tools that can help you make better business decisions.

Less Accounting

Less Accounting is an ideal solution for SaaS companies looking for a simple, easy-to-use accounting software. This cloud-based system allows users to manage their finances with ease. It offers powerful features such as automated invoicing, bank reconciliation, and financial reporting.

With its intuitive user interface and comprehensive features, Less Accounting is a great choice for businesses of any size.

Additionally, it allows for subscription management and integrates with popular payment gateways, making it an excellent choice for SAAS companies.

Tipalti

Tipalti is an automated accounts payable solution that makes it easy to manage vendor payments, eliminate manual processes, and ensure accurate bookkeeping. The software helps SaaS companies streamline their financial processes by automating invoice processing, payments, and approvals.

It also provides real-time visibility into the entire payment process, enabling businesses to quickly identify and resolve any payment issues.

With its comprehensive reporting capabilities, Tipalti enables SaaS companies to gain better insights into their financial performance and ensure compliance with accounting standards.

Conclusion

In conclusion, there are many accounting software tools available for SaaS companies that can help to make their financial processes easier and more efficient.

QuickBooks Online, FreshBooks, Sage Intacct, SAP Concur, Zoho Books, Wave Accounting, NetSuite ERP, Less Accounting, and Tipalti are all excellent choices for SaaS accounting software.

Each of these tools has features and functionalities tailored to the needs of SaaS companies and can help to streamline financial processes.

With the right accounting software in place, SaaS companies can ensure that their financial data is accurate, up-to-date, and secure.