Accounting is a complicated and time-consuming task for every business owner. Managing finances, paying bills on time, and tracking revenue is hard enough for many businesses let alone think about — Is my business generating profits? Or how can I improve my cash flow? Can we afford new equipment for businesses? And tons of such related questions.
So what’s the solution? The answer to these problems lies in having dedicated accounting software. There are many Mac software available in the market, both cloud-based and On-premise.
These bookkeeping software for Mac help you reduce the time you put into data entry, No more maintaining messy spreadsheets, filing those customer info cards, or stashing those paper receipts in drawers.
Let us look at how Mac accounting software can make your life a lot easier as a freelancer or small and medium business owner.
What is Mac Accounting Software?
Mac accounting software is specially designed for the Mac operating system. This software helps you track your business incomes and expenses and ease the bookkeeping process. Owners don’t have to keep worrying about features that may not be available.
Most Developers develop software with keeping PC users in mind because PC has more users’ share than Mac OS. This may cause developers to create the software for PC and then turn it into Mac software. But the downside of this is that Mac users’ behaviors and functionality are very much different from those of Windows users. This may cause Mac users frustration because of fewer features available or software full of bugs.
Cloud-based vs Desktop: Which to choose
Accounting software for Mac comes in two forms- Desktop-based/ On-premise or cloud-based. If you have a slow internet connection or if you do not require an internet connection, then the desktop-based accounting version is more suitable for your business. However, the cloud-based version is much more flexible because it efficiently runs from browsers such as Safari, Chrome, and Firefox and can be accessed remotely.
In the end, it all depends on the condition and personal choice of business owners whether they want to go ahead with cloud-based or on-premise Mac accounting software.
Benefits of accounting software for Mac
• Secured and Synchronized: Mac operating systems are closed systems. Apple is famous for maintaining user’s privacy. Mac users tend to be more privacy-minded individuals. Your iPhone, Mac, and iPod system automatically sync with other Apple devices. You don’t need an external device to connect them. The same is the situation with Mac accounting software, and they are easily synced with other Apple devices and provides high-level security.
• Faster: Mac computers are high-end machines; they have faster loading times and work smoothly. The same goes with Mac accounting software, and they are quicker and smoother running applications.
• Aesthetics/Design: Apple has always been an inspiration for many manufactures. Just take a look at the Apple products, they are sleek, simple, and minimalistic in nature. Each product is designed beautifully while staying high quality and functional. For this particular reason, Mac accounting software is designed with keeping Mac users in their mind, and special preference is given to minimalism and aesthetics.
The reason why you should have dedicated account software for your small business
• Spreadsheets are not enough: Businesses have many financial components. If you are a freelancer, spreadsheets can be enough, but companies, even the small ones, need much more than Spreadsheets for their accounting needs. If you ever tried to access a large file in the excel spreadsheets, you will know how messy it is. They are error-prone and can cause severe losses.
• Automatic billing and invoices: Are you still living in the era when businesses used to hand out paper receipts? Time to move on. Today, most receipts are in digital forms; you don’t need to collect every receipt and fear losing them.
• They are not complicated: If you are a business owner who has no formal education in the accounting field, you might know how complicated it can get. But now, even the most amateur person with no knowledge in accounting can handle accounts with the help of automated accounting software.
• Provides a snapshot of your company’s health: Financial Reports are essential. Everybody wants their business to be healthy and have a positive cash flow with no debt. But how often do you come across such scenarios? Very few times, right. Businesses are complex to handle, and even the small ones can get messy. Accounting software provides the financial health reports of your business based on the data you entered. This helps you test your strategies and focus on essential things to grow your business.
Features to consider before buying Mac accounting software
• Online invoicing and payments• General ledger• Business reports• Recurring payments• Automatic reminders• Sales tax calculations• Payroll feature.• PayPal, Stripe, and credit card processing.
The pricing structure of Mac accounting software
On-premise software starts at around $300. But they have many other functionalities that come at extra costs.
Cloud-based online accounting software for Macs starts at $9/month for basic accounting features and goes upwards to $150/month for a full-fledged version. This is mostly a subscription-based model.
There are many free accounting software available, but the downside is many of them have limited features and are mostly suitable for single users, freelancers, and very small businesses.
FreshBooks is pretty popular among small businesses due to its affordability and flexibility. Toronto-based FreshBooks has been in business for the past 15 years. Their easy-to-use accounting software is suitable for every device ranging from a smartphone to, PC to Mac.
FreshBooks main target is small business owners, but it can pretty much handle complex accounting books. But companies that are growing fast may quickly outgrow FreshBooks as it does not cater to large organizations’ needs. FreshBooks value their customers and are famous for their customer support service.
Their Mac accounting software integrates with over 100 apps to make business owners’ lives easier. Managing invoices, payments, client relationships, and growing your business is tough, and in such cases, FreshBooks can be a lifesaver.
› Highlighting Features
• Multi-currency billing• Automatic tax calculations• Recurring invoice and billing• Late payment reminders• Useful time trackers for those who charge hourly
› Key Benefits of FreshBooks
• The main benefit of FreshBooks is its intuitive and straightforward interface. The interface is clutter-free, and even a novice can use it without any issues. Never touched accounting, no problem, FreshBooks is your friend.• Get faster payments with ACH features.• Customizable invoicing that you can create in a few minutes.• My Team features help you invite people to use FreshBooks. It can be employees, contractors, or any client, for that matter.• The availability of mobile apps on both iOS and Android makes it easy to access your account from anywhere at any time.
FreshBooks provides unlimited 30 days free trial. But there is no free tier.• Lite- Starts at $4.50 per month paid annually. Allows only five billable clients per account.• Plus- Starts at $7.50 per month paid annually. Allows up to 50 billable clients.• Premium- Starts at $15 per month billed annually. Allows up to 500 billable clients.• Select- Customizable plan according to your needs
FreshBooks charges extra for adding add-ons like advanced payments ($20/month), team members ($10/month), and payroll features.
Road Drury and Hamish Edwards founded Xero in the year 2006 in Wellington. Drury and Edwards felt that the traditional accounting software was too bulky and hard to use. Hence they came up with the accounting management software to help small business owners manage their books without having accounting knowledge or degree. Users use Xero products in over 180 countries across the globe. It also surpassed 2 million subscribers globally in 2019.
› Highlighting Features
• Track cash flows• Detailed financial record for tax filing• Import transactional data from linked bank accounts or PayPal.• Payroll management• Inventory management
› Key Benefits of Xero
• Unlike other accounting software that includes inventory management in only the highest plan, Xero includes inventory management in all their plans. You won’t need to pay more than 470/ month because the lower plan does not have it.• Fixed asset management features are standard that include depreciation, reporting, and disposals, whereas, in other industry popular software, you will have to pay more than $300 to access this feature.• Allows unlimited users to access financial information. You can add as many users as you want without having to worry about paying extra.• Interactive credit controls make it easy to manage outstanding sales invoicing. Improve your cash flow and get paid faster.
• Early- Starts at $5.50 for the first two months. Then $11/month. This plan limit 20 invoices and five billable clients.• Growing- It starts at $16/month for the first two months, then $32/month after that.• Established- Starts at $31/month for the first two months, then $62/month after that.
Xero provides an optional addon of Payroll with Gusto that charges an extra $39/month.
ZipBooks is a relatively new accounting software company that provides both paid and free Mac accounting software. One of the main advantages of ZipBooks is that it requires minimal setup, unlike other industry accounting software that needs specialized configurations. ZipBooks offers a unique feature that lets you create a public mini-website created using graphs and data. The feature is optional and free but is useful to expand your online presence. ZipBooks also integrates with Gusto payroll.
Another useful thing about ZipBooks is that it lets users review your business and services and then share it on Google, Facebook, or Yelp.
› Highlighting features
• Business health score• Vendor and inventory management• Credit card processing• Bank reconciliation• Accounting, budgeting, and expenses reports
› Key Benefits of ZipBooks
• View the health score of your business with a business intelligence tool• Manage your vendors and inventory seamlessly. Get notified when the products need restocking.• ZipBooks accept credit cards for seamless and cashless payments.• Import your bank’s statement using the bank reconciliation feature.
• Starter- The starter plan is entirely free. Allows unlimited invoices and accepting digital payments.• Smarter- Starts at $15/month. Allows automated reminders, recurring invoices, and everything included in the starter plan.• Sophisticated- Starts at $35/month. Includes features such as smart tagging, customized categories, securing complicated books, and everything included in the smarter plan.
Founded in the year 1981 in England, Sage accounting software quickly became popular worldwide. Sage, formerly known as Peachtree in the US (now Sage 50), is the world’s leading accounting and ERP provider. Sage Business Cloud combines the power of the cloud with desktop accounting software. Sage cloud integrates with office 365 premium and Microsoft small business productivity suite.
› Highlighting Features
• Automated report ( P &L, balance sheets, invoices)• Records incomes and expenses quickly.• Remote login( Login from anywhere in the world)• Collaboration friendly• Painless invoicing
› Key Benefits of Sage business cloud accounting
• Easily collaborate with your team members, clients, vendors using collaboration tools• Print financial statements with ease, no more fearing hard surprises.• Set automated alerts to remind you of unpaid invoices and bills• Invite clients to view the project or proposal without login• Track the working time for hourly billing
• Sage Business Cloud accounting does not offer a free tier, but they have 30 days free trial.• Accounting Start: Starts at $10/month.• Accounting: Starts at $25/month.
QuickBooks is a well-known name in the accounting field. It has been providing exceptional service to its users since the 1990s. QuickBooks integrates with other third-party applications and makes it flexible. It also allows secure file sharing over the iOS cloud automatically.
QuickBooks has two versions- QuickBooks for Mac (cloud) and QuickBooks desktop for Mac.
› Highlighting Features
• My Accountant feature lets you invite your CPA.• Sales tax center• Payroll• Standard reports• Central dashboard
› Key Benefits of QuickBooks Desktop for Mac
• QuickBooks payroll features calculate tax automatically. Beneficial when estimated 1099 tax.• Standards reports such as who owes you, sales and vendors, Sales tax, employees make it easier to track all your business activities with a breeze.• Customized invoice to your own needs.• Banking reconciliation helps in keeping track of all the transactions.
• The QuickBooks desktop for Mac requires a single, one-time payment of $399.99.• QuickBooks Mac online starts at $25/month.
AccountEdge, previously known as MYOB (Mind your own business), was developed in the early 1990s. AccountEdge is a significantly matured, robust, and flexible Mac accounting software. AccountEdge regularly updates the software and releases new features. Some of the new features released include profitability reporting, interface enhancements, and pay. In the world of online software, AccountEdge maintains its edge with Mac and Pc software. AccountEdge also provides mobile apps to access information from anywhere.
Even if your business does not depend on the internet, the Mac desktop application provides a polished interface and integrated payroll option, which is hard to find with other accounting software.
› Highlighting Features
• Double-entry system• Integration with Shopify for online sales• Affordable payroll feature• Manage accounts, contacts, inventory everything from one place.• Invoicing and quotes.
› Key Benefits of AccountEdge
• High scalability. With four packages starting from AccountEdge Basic for solopreneurs up to Priority ERP designed for large business, you will never outgrow it.• A reliable desktop application that works without the internet. Work remotely.• Audit trail reports help you record every single financial record and its sources.• Customer portals to help customers view their transaction history, review invoices, and make payments online on time!• Comprehensive contact details records. Accounting records every minute detail of your contacts and arranges it in the form of “cards.” Simply click on the cards to get the information.
• Requires a one-time fee of $499.99 and extra for purchasing a license.• AccountEdge costs $299 per extra user with a discounted price of $999 for five or more users.• AccountEdge does not offer a free tier but has a 30 days free trial.
GnuCash is open-source and free accounting software for Mac and Windows users. GnuCash was initially developed as an alternative to Quicken in 1997. It is not cloud-based, and hence you need to install it on your operating system. GnuCash is a single-user application, meaning you won’t be able to add additional users to it. GnuCash is suitable for solopreneurs, freelancers, and small business owners. It is not ideal for growing business. It is a powerful and completely free to use personal and professional accounting software.
GnuCash works with 21 languages and offers multi-currency invoicing features, making it the right choice for startups and small businesses providing global services.
› Highlighting Features
• Double-entry accounting• Customer and vendor management• Accounts payable and receivable• Budgeting capabilities• Management and financial reporting system
• The double entry system helps track transactions in both locations. Double-entry simply means that an equal amount of money comes from one place and goes to another location.• Investment tracking helps make better investment decisions.• The most obvious benefit of using GnuCash is, it’s free. Most commercial accounting software are expensive and have features that small business does not need, but it’s not the case with Gnucash.• The software provides daily tips for users to make it easy to navigate.• Mortgage and Loan repayment features help you set up payment plans for your business loans.
SlickPie is an accounting software company based in Canada. SlickPie is free accounting software for Mac founded in 2015. Currently, it is used in more than 100 countries across the globe for business accounting. Everyone loves SlickPie and, judging by customer reviews, and customers love SlickPie too. With its support for multiple companies, unlimited users, free plan, and an intuitive easy to use interface, it is clear why people love SlickPie.
The software follows a double-entry accounting system, and it has a decent amount of features, including automated data entry, high security, contact management, accounts payable, and more. While Slickpie has some top-notch features, some features that include invoice customization and more third-party integrations can be improved.
› Highlighting Features
• Magic bot for automated data entry from receipts• PayPal, Stripe, and credit card processing• Add multiple companies and users.• Bank-grade security• Quotes and estimates creation tool
• High security ensures less risk regarding data• Magicbot helps save your time and lets you extract data from receipts images.• Flexible Payment options.• Create quotes and estimates for your proposal instantly and share them with your customers.
• Starter: The Starter plan is entirely free and lets you use the full features of Slickpie but limit the company accounts to ten.• Pro – Pro has every feature included in Starter but allows up to 50 companies and additional phone support.
ProfitBooks is cloud-based and free accounting software for Mac. ProfitBooks has the most powerful inventory management system. With its simple interface, it lets you take control of your accounting. From recording journal entries, managing inventory to automated billing and invoicing, ProfitBooks provides all the features at inexpensive costs.
› Highlighting Features
• Record journal entries• Automated invoice billing• Inventory management• Payroll management• Multichannel management
› Key Benefits of ProfitBooks
• ProfitBooks let you attach the scanned receipts to financial transactions for faster and easier tracking.• It monitors the stock level and notifies you of the important updates regarding the product. This feature is especially beneficial if you run a warehouse.• Central dashboards to preview all your financial reports and data.Store past and present traction for easy access.
• Startup- Free forever. Allows up to 50 invoices per month. Best suitable for single users or startups.• SMB- Starts at $15/month. Best suitable for small and medium-sized businesses. Allows unlimited users and invoices.
Wrapping it up:
Financial accounting is messy, complex, and time-consuming. Many small business owners can’t afford to pay the expensive fees of CPA or CA. Hence accounting software for Mac provides significant relief from these accounting tasks and gives you more time to focus on essential things and improving your business.
Both paid and free accounting software for Mac are available in the market for individual needs. Get a bookkeeping software for your business today and lighten your load, save time and scale your business.