Budgeting software solutions

The comparison and what-if analysis component receives actuals and installs them into your budgets and plans for comparisons. You can also perform what-if analyses for various situations by adjusting drivers and studying the potential impact to your enterprise. Sage Intacct has a few more accessories and tools to boost the productivity of your budget operations. These features include:.

Besides budgeting, this solution also offers built-in financial intelligence, legal and management consolidations and prepackaged content among other tools. You can conduct what-if modeling and scenario planning to immediately evaluate budget appropriateness with the budget forecasts.

You can also conceive forecast models and swiftly update and alter forecasts as needed. The mobile reporting accessory engages stakeholders throughout the entire company with Excel, HTML5 and mobile reporting interfaces. SAP Business Planning and Consolidation has other features outside of the typical budgeting accessories to streamline your budgeting practices.

Despite SAP Business Planning and Consolidation having plenty of features and benefits, it comes with some limitations. These flaws include:. Planning Maestro is a cloud-based business budgeting software for organization of all sizes preferably for the architecture, engineering and construction AEC , business services, software and technology, distribution, education, energy, healthcare, insurance, manufacturing, non-profit and retail industries.

This accessory can recognize internal and external factors that affect your plans as well as exhibits varying planning and what-if scenarios. The integral financial consolidation function ensures you stay focused on results no matter the amounts of entities, locations or products.

You can evaluate results with or without adjustments and produce generally accepted accounting principles GAAP compliant documents. The revenue planning module can also initiate revenue planning by studying past sales performances to generate practical sales estimates.

These sales projections are in reference to the quantities of bookings, salespeople, stores, past sales revenue, website visits and other factors. You can view typical and intricate views of your business insights such as CRM, payroll, ERP, general ledger and more with the reporting and dashboarding module. This tool permits you to build and format reports, graphs, charts and other visualization tools in a presentation style.

You can also determine which report goes to the ideal internal or external stakeholder and instantly send them with accurate information that pertains to that specific individual. The self-service analytics feature allows the CFO and internal stakeholders to supervise performance vs.

You can pick and choose predefined benchmarks to filter current views as well as allow executives to conduct queries and construct reports. Although Planning Maestro has the typical features of budgeting solutions, there a few tools worth mentioning that can further streamline your budgeting methods. Although Planning Maestro has a multitude of features and benefits, it comes with some limitations. These limitations include:. This concludes our picks of the top budgeting software around.

No matter which software you choose, make sure to pick the one that aligns best with your accounting needs and practices. Also check out our thorough comparison guide to review and compare other vendors.

Thank you for the suggestion, Ioanna. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Pricing, Ratings, and Reviews for each Vendor. PLUS… Access to our online selection platform for free. Jump-start your selection project with a free, pre-built, customizable Accounting Tools requirements template. Project Management. View All Software Categories. Austin Office S. Deployment: Platform:. Add to that the frustration of finding out later that you made several errors in your budgeting when doing it manually.

We reviewed a mix of products that cater to various business types and sizes and with varying focuses to come up with our list of best 20 budgeting software solutions of We used variables like small business vs. The result is a comprehensive list of budgeting solutions that, hopefully, will lend to your business at least one that fits your exact requirements.

A budget software is no longer a tool that just forecasts annual revenues and expenses. Also, Excel sheets filled with errors are more the rule, not the exception, making them one of the most cumbersome tools for budgeting. Today, businesses are looking for ways to consolidate disparate financial and transactional data to come up with accurate forecasts and insights. To do this, businesses have set their technology priorities to improve performance-based financing PBF in business over the next years: automation of budgeting processes, achieving process standardization, and transition to a more specialized PBF tool.

Additionally, in a survey by Business Application Research Center, businesses are currently leveraging the integration of different sub-budgets to optimize financial planning. If the company is risk-averse it may miss growth targets and underperform in the long run. Conversely, if it undertakes risky projects with little analysis on hand, it may cost the company an arm and leg.

A good budget planning tool helps companies find that sweet spot. Moreover, budget planning is now more comprehensive, taking into account granular details from day-to-day sources.

In the context of how important budget planning and forecasting are to your business, finding the right solution is paramount. FreshBooks is one of the most popular accounting software solutions for small business owners. It has a rich feature set for expense tracking, invoicing, projects, payments and accounting reports. The modules are tightly synced and designed for small teams, which means you can easily monitor cash inflows and outflows even by yourself.

The app currently occupies the top spot in our list of top 20 budgeting software solutions of because of its robust features, capabilities and performance.

The vendor offers a great free trial plan that allows you to try out all the key features of the software first. You can easily sign up for FreshBooks free trial. You can access all the essential features and your data from your iPhone or Android phone, keeping you always on top of your budget.

Another key feature is its invoice-to-payment process. It addresses the pain points in collecting from clients, mainly tracking due dates and following up late payments without being confrontational.

With a few clicks you can pull out outstanding invoices then set automatic payment reminders. The app even notifies you when a client opens your billing email, giving you a good time to follow it up with a call.

The invoice-to-payment feature helps you account for your collectibles with little manual intervention and keep your cash flow protected. Likewise, FreshBooks is good at tracking expenses , a handy tool to keep you within budget. Small things like unaccounted employee advances for client meetings can bleed you money over time.

The app makes it simple for employees to capture these little expenses: snap a photo of the receipt and attach it to an item. FreshBooks logs and consolidates all related expense items per employee. You can also use the expense tracker to monitor your credit card and bank accounts by importing your day-to-day bank transactions directly to FreshBooks.

Small businesses that use contractors also find FreshBooks practical to track work hours to the tee. The time tracker is flexible—you can track time by the minute or be charged with a flat rate, and track time by individual or team. Detailed FreshBooks Review. It still features advanced accounting tools, such as inventory management and module-level security, plus payroll management and expense tracking. The hybrid version leverages the privacy control of on-premise and the accessibility and scalability of cloud.

You can easily sign up for Sage free trial. They help you assess your overall business health. As with the old desktop app, the cloud upgrade is designed for the non-accountant. Built-in checks and balances in its core accounting and other transactional operations like inventory and payroll ensure the integrity of your financials.

It has Android and iOS apps, so you can take with you the system and your data and leverage the cloud advantage. Detailed Sage 50cloud Review. NetSuite is an end-to-end financial management solution with accounting functions as just among its key features.

It fits the budget planning dynamics of mid-sized businesses and large enterprises. The system covers front-end and back-office processes including revenue management, billing, order management, fixed asset depreciation and inventory management. Businesses can view financial-related KPIs in myriad angles and for different user roles that make its reporting configurable to specific purposes. For instance, ecommerce admin can run order management metrics, while the logistics manager consolidates purchase orders and vendor payables.

You can easily sign up for Netsuite free demo. Transactional data can be segregated into metrics for sales, finance, fulfillment and other units, so various teams can crunch localized budgeting number on demand. Xero is another popular accounting software for small business in various industries. Its features are noticeably more streamlined than our top software, keeping only to the most essential features to help you manage the budget. Its top functions include bank reconciliation to help you track your transactions in real time; financial reporting that gives you insights on different income-expense aspects of the business; automatic invoicing to ensure collectibles are closely monitored; and an integrated payroll that helps churn out accurate wages, no more or less than necessary.

These features are more than enough to keep you on top of your budget. To give you an idea of its merits, the vendor offers a fully featured and easy-to-setup free trial that we wholeheartedly recommend.

Detailed Xero Review. Despite being a small business app, Xero impresses with enterprise-grade tools that provide accurate feedback on your financial transactions. As a sales tool, the app helps you control inventory and manage purchase orders. As an invoicing tool, it streamlines and automates billing-to-payment processes. Xero also excels in managing fixed assets and segmenting contacts based on purchase history and has reliable Android and iOS apps. Moreover, for U. QuickBooks is still a shoo-in in any best budgeting software list, including ours.

It is the brand most closely associated with accounting software. The software brand actually consists of three versions: QuickBooks Online cloud-hosted, for freelancer and small business , QuickBooks Pro on-premise and cloud, for mid-market and QuickBooks Enterprise for large enterprises. They share similar attributes of the brand, mainly, streamlined, integrated and automated process flows. Detailed QuickBooks Review. The software popularized the dashboard that syncs all business financial transactions in one place, which is now a standard in accounting software solutions.

Its key features include an Accounts Management, which lets you create, edit and share data with other users; customizable feeds and charts; and security and backup tools, such as, Excel exporting, restrictions and error alerts.

The team found the software very easy to use — just one 15 minute training session was all it took for most users. They liked the ease of the Budget Widget and the ability to record notes within the budget template.

For those with more complex budgets, the special purpose worksheet provided the space for detailed vendor line items and calculations using formulas. Our Department Leaders embraced the software and were up and running with a simple one 1 hour tutorial.

As for the Finance team, the time savings has been tremendous in terms of roll out and the ability to provide all our Users with real-time historical data given the direct API connections into Intacct. I mentioned to the AcctTwo sales team that we also wanted a good budget program, but it had to be as intuitive to use as a spreadsheet. They immediately suggested Martus Solutions.

Bill Cox from Martus met with us and most of my 5 accounting staff were enthusiastic about the demonstration of MartusTools which included their MartusPlanner budgeting software. Not so with Martus! I had to find a better method. MartusTools includes a budgeting and Reporting Tool Complete suite of flexible, pre-built financial reports and a graphical dashboard. Drilldown to transaction data, too. At the same time it is extremely powerful in meeting my accounting needs. The interactive features are very effective and have significantly reduced our time spent compiling, editing, loading, and completing our annual budget process for 7 campuses.