By Kritima
Starting any small business can be very exciting and challenging. Risk management, employees, customers, finance, and managing everything like finding an email host and other stuff can be quite hectic sometimes. While everyone is way ahead of us, we small business owners still believe that good budgeting software is only for big firms. This is why we tend to choose budgeting planners instead of software. But, using good budgeting software brings lots of advantages for your small business. Why? How? Read till the end to know about some cool budgeting software for your small business.
What is Budgeting Software?
Whenever we start any business, we gravitate toward planning our budget, income, and financial statements, tracking our ins and outs. Although accounting software can also work here but in long run, budgeting software is the best.
Generally, budgeting software is a money-managing software or program that mainly focuses on managing to track, and forecasting the budget of businesses either big or small. Commonly, there are four types of budgeting software:
- Incremental budgeting software
- Activity-based budgeting software
- Value proposition budgeting software
- zero-based budgeting software
Why is Budgeting Software Important For Small Business?
Since budget is a building block for small businesses, one cannot ignore the importance of budget management for small businesses.
Much research shows that the craze and need for budgeting software for small businesses are increasing on daily basis. But why?
Budgeting software:
- Makes sure your company’s fund is in check and it doesn’t go over budget
- Plans how much you can spend on different activities without decreasing your funds
- Controls costs
- Estimates expenses and compares the total expenditures
- Manages the cash flow of your small business
- Calculates business Net worth
10 Best Budgeting Software For Small Business
As stated by US Business Formation Statistics (BFS), the number of new business applications has steadily been rising each decade. 2.58 million new business applications were submitted in 2011. By the year 2021, this number had more than doubled to 5.4 million. And among them in just one year from 2020 to 2021, nearly 1.1 Million opened businesses were small businesses, says the US Small Business Administration (SBA).
So, with this growing and glowing industry, comes the need for managing their budget cost-effectively and productively. What can be those? To make your search easier, here we are listing some best budgeting software for your small business.
1. Xero
First on our list is Xero. Xero is a budgeting software designed especially for small and newbie small business. Xero gives small business owners immediate access to their financial situation and links them with their valued advisors. Likewise, it helps in making business tasks such as paying bills, creating invoices, and managing expense claims, and way more way easier.
Xero may be accessible from any gadget with a connected internet connection because it is a web-based solution. Similarly, Small businesses can examine their cash flows, transactions, and account details from anywhere thanks to Xero’s sophisticated accounting tools.
But why should I choose Xero?
Below are some features of Xero which might help you in choosing your budgeting software:
- Outstanding integration abilities
- Reasonably priced
- Readily usable interface
- Excellent client service
- Unlimited users
- Can be accessed from any device
- Bank transactions are automatically imported and coded
- Use multiple currencies
- Send invoices and quotes
How much does it cost?
| Starter(per month) | Standard(per month) | Premium(per month) |
| $25 USD | $40 USD | $54 USD |
Xero has three packages for its pricing and all of them are very affordable. For every package, you get to have many services but the most recommended one is the standard one which is said to be best for growing small businesses.
Also, you get optional add-ons, for every package which are technically the same.
- Claim expenses: start from $4 per month
- Track projects: start from $7 per month
- Analytics plus: starts from $7 per month
If you want to know more about the package then you can visit the official site www.xero.com.
Download it
As Xero offers mobile applications as well. You can easily download it from Google Play, App Store.
Get connected with Xero here- Instagram, Facebook, Twitter, LinkedIn, and Youtube.
2. Oracle
Oracle is another cloud-based budgeting platform for planning and budgeting for small businesses. The best thing about Oracle is that it increases forecast accuracy with the least amount of IT resources. Similarly, The planning and budgeting cloud service of Oracle enables businesses of all sizes; large, medium, or small, to drive accurate plans for your business.
Because all the database is stored in the cloud, there is minimal maintenance and there is no need to keep the data updated or take care of the database. That’s why Oracle is the best and ideal for any small business.
But why should I choose?
Below are some features of Xero which might help you in choosing Oracle as your budgeting software:
- Gives a quick insight into your performance, and uses predictive planning using interactive dashboards and reports
- Makes plans to minimize the impact of changes across your business
- Optimize capital structure
- Maintains complex employees’ expenses, and calculations with an easy-to-use wizard
- Makes plans of your expenses
- Makes financial statement
How much does it cost?
The budgeting software of Oracle is generally called Enterprise Performance Management which costs:
| Standard (per user/ per month) | Enterprise (per user/ per month) |
| $250 USD | $500 USD |
Although Oracle does give free services to its users, it is recommended to use the paid version to get more benefits like:
- Phone download
- Emails
- Brings you data-driven insights through AI and machine learning
- Build forecasts and scenarios that are updated automatically as the bottom line changes
- Provides big corporate finance strategy to expand your business
Download it
You can easily download it from Google Play, App Store.
Connect with Oracle for their places and offers.
Get connected here- Facebook, Twitter, LinkedIn, YouTube.
3. Quickbooks Online
QuickBooks Online is a Cloud-based budgeting program that takes care of all your budgeting and accounting requirements. Because you may grant access to your files to a bookkeeper or accountant, it is a subscription-based solution that is useful for many different businesses. T
QuickBooks Online has advanced reporting capabilities. Small businesses may easily create profit and loss statements and other crucial financial reports by creating their custom reports or choosing one of QuickBooks’ built-in reporting choices.
Additionally, QuickBooks has hundreds of integrations from which to pick if you want to personalize your program.
But why should I choose?
Below are some features of Quickbook online which might help you in choosing it as your budgeting software:
- Easily navigable
- Different price ranges
- Adaptable reports
- Numerous users
- can distinguish between personal and corporate costs
How much does it cost?
| Simple Start (per month) | Essentials (per month) | Advanced (per month) | Advanced (per month) |
| $25 | $50 | $80 | $180 |
Although, Quickbooks online is quite expensive whatever plan you choose you to get to enjoy the following services at the minimum cost:
- Payments and Invoices
- Management of income and expenses
- Keep tabs on sales and tax
- Gather and catalog receipts
- Run routine reports
Download it
You can easily download the QuickBooks online application from Quickbooks online.
Do you want to get up-to-date with their places and offers?
Get connected here- Facebook, Twitter, YouTube, LinkedIn
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4. Centage’s Planning Maestro
Another optimal budgeting software for small businesses is Centage’s, Planning Maestro. Centage’s Planning Maestro transforms how businesses prepare for the future and report success by delivering year-round financial insight.
Centage offers advanced financial intelligence that is generally only available to huge corporations at a cost that is affordable for small and medium-sized businesses. Clients of Centage are able to take quicker decisions, respond to market developments, and seize new possibilities thanks to direct access to the organization’s financial health.
Similarly, Centage is intended to give consumers a clear view of the financial health of their company and assist them in making better decisions.
But why should I choose?
Here are some of Centage’s services and features to take into account when you’re choosing budgeting software for your small business:
- Optimized for performance, agility, and scalability of cloud-native technologies
- Adaptation to almost any data source
- Intelligent, pre-built modules for headcount modeling, revenue planning, and other crucial tasks
- Highly effective multidimensional planning
- Fast database queries, one-click working screens, and straightforward import/export provide superior user experiences.
- Multi-dimensional pivot reports and welcome page reporting are features of advanced reporting.
- Fully correct calculations that adhere to GAAP are used in the integrated income statement, balance sheet, and cash flow reporting.
- Consolidation of numerous units, locations, products, etc., automatically.
- Quick and adaptable financial statements
- Greater accountability from all managers for financial performances effortlessly to your organization and reporting needs
How much does it cost?
Centage has not specified the cost of its packages. It is done upon request.
Download it
You can easily download this software to your gadgets from Google Play, App Store.
Do you want to get up-to-date with their places and offers?
Get connected here- Facebook, Twitter, LinkedIn, YouTube.
They also post Blogs on their website www.centage.com.
5. FreshBooks
Freshbooks is yet another cloud-based budgeting and accounting tool where you can monitor clients and projects, create and send an unlimited number of invoices, and collect payments online. Double-entry accounting, recurring bills, project execution, and mobile accounting are just a few of the many capabilities it provides.
FreshBooks is a user-friendly program with an intuitive UI. FreshBooks is easy to use even for computer beginners. It has many capabilities that are typically only found in more powerful (and expensive) programs. This is one of the most recommended budgeting software for small business.
But why should I choose?
If you are unsure about choosing FreshBooks, then here are some of its features and services which will help you in it:
- Multiple plans are available
- Highly intuitive
- Create expenses directly from the Expenses tab instead of having to click over to another screen
- Addition of ACH payments to FreshBooks payments, to get paid faster
- Tracks your time spent on a project
- Collects receipt information from any submitted receipt, doing away with the need to manually enter the data.
How much does it cost?
IT’S FREE!!!
Yes. For the first 30 days, Freshbooks offers free services and you don’t need any debit or credit card for it as well. But, you will need to get paid according to your needs after 30 days.
Download it
If you want to download FreshBooks, you can easily get it from Google Play and App Store.
Do you want to get up-to-date with their places and offers?
Get connected here- Facebook, Instagram, Twitter, YouTube
6. PlanGuru
PlanGuru mostly known for its extensible and expandable features is another best budgeting software for small business. The solution aids accountants in creating financial projections, creating budget analyses, and addressing small business financial limits.
In PlanGuru you can easily find software for creating and managing income statements, balance sheets, and cash flow statements. Businesses can examine and forecast their financial requirements using more than 20 forecasting techniques for any time frame of up to ten years.
Similarly, If you prefer doing your budgeting in Excel, then PlanGuru offers that too. Through PlanGuru you can easily do an advanced reporting Excell add-in.
Isn’t this amazing?
But why should I choose?
If you are choosing a budgeting software for your small business, then here are some points that will convince you to choose PlanGuru:
- Allows for integration with other databases
- Collection, handling, and management of the business fund
- Combines and merges loans, assets, liabilities, and other financial data and items into one body
- Predicts business value based on past and present trends
- Manages the budgeting and finance of multiple locations or companies in a single location
- Gives profit and loss statements
- Sub-totaling features to group account
- Automatically solves Cash Flow Statement
How much does it cost?
PlanGuru offers both app and desktop versions for its application. And both of them are paid ones with monthly and yearly basis planning. But you also get a 14-day free trial where no credit card is required.
| Per month/USD | Per year/ USD | |
| Mobile App | $99 | $99 |
| Desktop | $899 | $899 |
Download it
As it offers both app and desktop versions, you can easily order it from the website www.planguru.com easily.
Do you want to get up-to-date with their prices and offers?
Get connected here- Facebook, LinkedIn
7. Float
Next on our list is Float. Float is an award-winning budgeting software perfect for small business. Due to its good layout, good features, and simple-to-understand layout, it is preferred by many. Similarly, It offers add-ons for small business that use other budgeting software like Xero, FreeAgent, or QuickBooks online.
Many small business owners recommend Float for other small business because of its easiness and smoothness of any other spreadsheets. Float easily links with other software and also makes looking at different scenarios with comparisons easy.
Likewise, You can check your cash flow every day, every week, or every month. If there is a cash surplus or shortage, Float will notify users and provide businesses with actionable data.
But why should I choose?
If you are unsure about choosing Float, then here are some of its features and services which will help you in it:
- Integrates readily with leading accounting systems
- User-friendly
- automatic data import
- rapid setup
- Financial, cash, and cash-flow management
- Easy import and export of data
- Allows you to input variables to forecast potential outcomes
- Evaluate risks, budget, and other finance-related-data to calculate performance and possible risk
- Provides an extensive overview of the business’s finances
How much does it cost?
Float mainly offers five types of pricing plans. It also has 14 days free trial.
| Essential | Premium | Enterprise | Starter | Growth |
| $59 | $99 | $199 | $39 | $199 |
Download it
You can easily float applications from its official website www.floatapp.com easily.
Do you want to get up-to-date with their prices and offers?
Float posts regular blogs on its website. You can get information about their prices and offers there.
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8. Cube
Cube is a real-time budgeting platform that manages your spreadsheet effectively. For more rapid and strategic planning, reporting, and analysis, the financial planning team and budgeting teams have access to real-time financial & operational data through Cube.
Similarly, Cube work with you to cut down on time, eliminate mistakes, and sharpen your insights so you can explain the data’s meaning more quickly than ever. Likewise, Teams can get started with Cube in days rather than months because it combines the familiarity and adaptability of a spreadsheet with the control and scalability of performance software.
Moreover, with the use of Cube whenever you are finalizing your budget you can easily connect with any other source system, browser, and sheets in real time so you don’t have to change your work.
But why should I choose?
If you are unsure about choosing Cube, then here are some of its features and services which will help you:
- Connects data from several sources to enable drill down and rollups
- Role-based permission
- Budget control
- Custom templates
- Easy to-do-collaboration
- Performs sensitivity analysis
- Creates strategic plan and synchronizes data across multiple platforms
ALSO READ: 10 Best Email Hosting Services for Small Business in 2023
How much does it cost?
The pricing and packages for Cube budgeting software are:
| Essentials | Premium | Enterprise |
| $1,250 | $2,450 | $3,750 |
You can check out the details about the pricing on its site www.cubesoftware.com.
Download it
Cube only offers its desktop software which you can easily get from Cubefordesktop.
Do you want to get up-to-date with their places and offers?
Get connected here- LinkedIn, Twitter
9. Vena
If you are looking for a compact, user-friendly, and competitive solution composed of a centralized database, and basic and advanced tools for planning and managing your small business finance effectively and efficiently, then Vena is perfect for you.
In addition, Vena is budgeting and accounting software that produces quick reports on business net worth, and another significant indicator as well as a way to automate your budget processes.
Ensuring that there is a centralized workflow across your many departments, a means for aggregating massive volumes of data, and a method of minimizing numerous versions of the truth through controlling modules aids in the breakdown of organizational silos.
But why should I choose?
Here are some features and services provided by vena to make your choice process easier:
- Presentation of data in graphics, modeling, and simulation
- Performance indicators, a trend study of sales
- Forecasting, General Ledger, and Balance Sheet
- Statements of income and profits and losses
- Planning for capital assets and managing cash
- Consolidation/Roll-budgeting for projects
- Tracking of run rates and version control
- Multi-Company, Multi-Project, Multi-Department
How much does it cost?
Regarding the cost of vena budgeting software, Vena has not officially provided any information. But you can get a plan according to your choice by contacting the official distributor.
Download it
For getting vena’s budgeting software, visit the vena official website which provides it. www.venasolutions.com
10. Prophix
With the theme ”Transform the way you budget, plan and report”, Prophix, although last on our list is another best budgeting software for small business.
Prophix is a financial management budgeting software used for analysis, budgeting, accounting, and management of business reports and finances. Moreover, Prophix is known mostly for its easy and fast reporting.
Likewise, Users can handle information including cash flow, balance sheets, income statements, and budgeting requirements with Prophix. Tools for data analysis are also accessible. The solution supports top-down, bottom-up, zero-based, and activity-based techniques for both financial and non-financial planning.
But why should I choose?
You should choose Prophix because it:
- Easy allocation of budget and expenses
- ability to perform sophisticated financial reporting and analytics
- Graphs and charts with a simple interface provide clear graphics.
- can access data at a fine-grained level by drilling down.
- provides automated financial workflow
- An internal implementation team assists with onboarding.
- Data connection with Microsoft 365 is seamless.
- robust encryption
How much does it cost?
Just like Vena, Prophix provides its budgeting software upon request ONLY.
Download it
Prophix offers its deployment options in Windows(desktop), Mac( Desktop), iPad, iPhone, Android, and Linux (on-premise), which you can get from www.prophix.com.
Do you want to get up-to-date with their places and offers?
Get connected here- Facebook, LinkedIn, Twitter, YouTube, Instagram
Summing Up in Budgeting Software for Small Business
If we have money we must know how to manage it. Anyone who has a good flow of money from their business but is not able to track the records, cannot be a good businessman and his/her business won’t be profitable. Thus, under any circumstances having good budgeting software for your small business is very important for your overall business growth in the long run. So, what are you waiting for? Get it NOW.
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