Software that implements the accounting cycle — recording transactions, maintaining ledgers, producing trial balances, and generating financial statements. All accounting software automates double-entry bookkeeping; the differences are in scope, audience, and how much of the process they expose to the user.
By scale and audience
Small business and freelance
- GnuCash — free, open-source, full double-entry system for individuals and small businesses
- Wave — free cloud-based accounting for small businesses and freelancers
- QuickBooks — the dominant small-business accounting platform in the US
Mid-market
- Xero — cloud-native platform popular outside the US, strong on integrations
- QuickBooks — also serves mid-market through QuickBooks Online Advanced and Enterprise editions
Enterprise
- SAP — enterprise resource planning system with accounting as its core module
- Oracle Financials — enterprise financial management within Oracle’s ERP suite