Cloud computing is gaining popularity and so does the availability of online accounting software. Small business owners desire a simple interface that allows them to bill customers, enter expenses, and check their bank accounts. 

Access is important because you never know when your accountant will need it. Xero stock management software allows you to track and monitor your expenses and invoices, as well as see your receivables and payables. 

You can also customize and create invoices and have many reporting options. Your account can be managed from a Windows, Mac, or iPhone platform. One user is allowed to log in at a given time (plus your accountant). There is no limit to the number of customers or transactions.

Upgrade to get access to a variety of additional features, including inventory tracking, automated bank (which allows downloading your bank transactions to your QB file), time tracking, industry comparisons, and 3 simultaneous users.

Add-ons such as credit card processing and payroll are available but must be purchased separately. Xero, the software can be used by small businesses from all over the world. 

Xero's functionality is identical to Quickbooks, but the price difference is smaller. The $19 per month small plan allows for 5 vendor and customer transactions, and 20 bank transactions per calendar month.