7 Best SaaS Accounting Software Solutions: A Comprehensive Guide

 SaaS accounting software can aid you with automating:

• Recurring invoicing.
• Payment processing.
• Paying taxes.
• Payment reconciliation.
• Reminders for payments.
• Management of subscriptions.
• Reporting.
• Tracking expenses.
• Payroll.
• and more ...

It's nearly impossible to find one accounting software program that can meet the requirements of an SaaS company. Even software that advertises particular SaaS features aren't always a complete solution.

Some accounting programs offer the ability to take payments. However generally, this option is only available used for United States payments, not international transactions. If you'd like to accept international payments, you'll likely require a different payment option that specializes in global payment processing.

This is why the majority of SaaS firms are able to combine various point solutions over to the generic accounting software to create the system they need.

In this guide, we compare seven accounting software choices by describing what each one can and will not do. Particularly, we begin by taking a deep look at the solutions our platform  can provide and how we take on taxes on sales and transaction for you.

 Table of Contents

•   Maxio
•   Oracle NetSuite
•   Quickbooks Online
•   Freshbooks
•   Stripe
•   Xero

Information on Sales Tax, Trans Reconciliation, Payment Processing and more for Software Companies

offers solutions to:

• Gathering and remitting U.S. sales tax and International VAT and GST.
• Global payment processing.
• Invoices are sent and reminders for payments.
• The reconciliation of transactions that are in line with fulfillment.
• Reporting.
• A lot more ...

As your MoR we take care of all these tasks on your behalf. Plus, we assume transaction liability and the responsibility of calculating, gathering, and remitting sales tax, VAT as well as GST.

In the sections to follow We will look into the ways that SaaS can help SaaS companies expand globally and simplify accounting processes.

Notification: You will need an additional accounting program for the taxation of income and payroll, internal balance sheets, and so on. It is easy to integrate with other accounting software (e.g., QuickBooks) via extensions, webhooks, and an API.

Fully Managed Sales Tax, VAT, and GST

The majority of accounting software can help in adding the sales tax (assuming you've configured the options and settings appropriately) to invoices and generate statements for the remittance of sales tax. However, accounting software usually is not suited to:

• Adding sales tax to purchases on your website. Some accounting software will offer a payment portal where customers can settle bills. But, it's completely distinct from any other checkouts the site may offer on its site, so you'll require a different program for the collection of indirect taxes on your site (which is a cost plus more time).

Plus, you're ultimately held accountable for any tax liabilities. Maintaining tax compliance is often much more difficult than making sure you pay the correct amount (and the correct type) in indirect taxes at the appropriate time.

For example:

• States like Serbia as well as those in the United Kingdom, Taiwan, and many others need electronic invoicing (from resident and non-resident firms as well) and can cost companies $2k-$5k per year. NOTE: E-invoicing mandates are increasing at an alarming rate -- the EU is currently rolling out all-inclusive electronic invoice requirements until 2028..
• Certain countries such as India, Indonesia, Japan and many more require the accounts to be "pre-funded" meaning you need to know the amount you'll owe, and then keep the money until the time comes to pay the funds (often up to three months ahead).
• Some countries like Colombia, Japan, Mexico, Serbia, and others need local representation. This means someone with a physical presence (usually an accountant or lawyer) in that country has to take on taxes that can range from $5k to $15k per year.
• Some countries like Taiwan, Indonesia, Nigeria, Vietnam, and others will require you to file an income or profits tax returnonce you begin collecting indirect tax. This can add up to $5-$10k per year.

That's why most SaaS companies are forced to hire full-time tax accountants and specialists to handle indirect tax.

 simplifies the entire procedure and makes it simple to include all types of indirect tax onto invoices (and take it out at the time of checkout) in the process of handling it for you.

With over 20 years of experience filing 1,200+ tax returns each year in over 100 jurisdictions, our team ensures the right amount (and type) of tax indirect taxed (we also handle transactions that are tax-exempt in the U.S. and 0% reverse charge when appropriate).

After that, our team will remit the taxes on your behalf and makes sure that all necessary processes are in place to stay compliant. We've established long-lasting relationships with tax specialists globally in order to be up to date on regulatory adjustments, changes to the enforcement process (sometimes specific industries are focused on) and the trends they are seeing with other software firms.

If a state or country approaches you about tax compliance Our team can often give you a copy-and paste response.

Quote Management and Recurring Invoicing

With most accounting software it is easy to manage B2B subscriptions through your site however, you cannot manage B2C transactions -- which is why many companies have two solutions. That means double the cost and double the work.

 You can handle B2C and B2B transactions on just one place.

provides several options for setting up different subscription models including:

• Fixed, per seat, tied, metered and bundled billing.
• Prorated billing to accommodate changes and downgrades in mid-cycle.
• Automatic or manual renewal.
• Upsells, cross-sells, one-time fees, discounts, and gift cards.
• Plus many More ...

After that, you are able to offer these items via your website

You can also offer customers a self-service platform where they can create their own quote or invoices based on items in their cart.

International Payment Processing

A majority of accounting programs will provide simple payment processing for transactions within the U.S., however, most only support a few payment methods (e.g., Mastercard, Visa, ACH) and very few of them offer payment processing that is compatible with international payment options or currency. In order to accept payments from outside the United States it is necessary to connect to and manage other payment processors.

makes it really easy to accept tons of preferred payment methods around the world (via checkout or invoice) by:

• Manage several payment gateways on behalf of you. Each payment gateway has specific countries, payment methods, and currencies they accept. As an example, a processor may support Amazon Pay in the United States but they won't take payments from Brazil. By using this service, you'll get access to a variety of payment processing services that focus on international transactions (and transactions in the United States).
• Making currency conversions available at the checkout as well as in bills. You can set prices for every product in every currency, or let the system make the conversions for you. You can also allow your customers to choose their preferred currency (and language) or let them choose the one that is appropriate based on their location.

    "Having numerous payment methods that are always applicable to every area around the world has helped us achieve significant growth worldwide."  

In order to pay for an invoice, customers just click the  button 'Pay Now' on the lower right on the bill (as as shown below).

The customer will be taken to either a popup checkout or a web storefront operated by, based on which one you prefer. The choice is completely customizable regarding the design and appearance of the checkout.

NOTE: You can use the checkout you've created on your website. You'll have the option of embedding the checkout on your webpage If you'd like. Additionally, you can utilize  Store Builder Library's Store Builder Library to customize the buyer journey leading up to checkout (e.g. Cross-sells and upsells, etc.).

In addition, you are able to set up to send out payment reminders for two three, five, seven 14 and 21 days after the method of payment fails. Our experience suggests that the sending of multiple reminders for payment is the best method to make sure that your payment is ongoing.

Simplified Transaction and Fulfillment Reconciliation

The majority of accounting software can help to automate the process of making sure the money you pay is in accordance with the orders being filled. While it's an automated process however, it's a huge task to verify that the automation worked correctly and also to correct any imbalances.

In addition, international transactions create more complications due to the possibility of payments coming in through different channels (and therefore different software providers) and also into multiple merchant accounts.

As MoR, makes it easier to handle transaction reconciliation by handling it for your convenience. We will take all transactions with your clients and bundle the transactions into two or one lump sum payments which we make to you on a regular basis or twice per month.

 Instead of trying to balance hundreds or thousands of transactions every month, it takes just a few minutes balancing the balance of one or two transactions .

You have complete control over the product (i.e. the way you bundle it, your pricing model, how much it's sold, the location you'd like it to be sold, fulfillment, etc. ).

In-depth Reporting on SaaS KPIs

offers a built-in reporting feature that will help you locate the necessary information for creating regular accounting reports (e.g. breakdown report as well as balance sheet). The majority of reports are available on the Revenue Overview dashboard or the Subscription Overview dashboard, but you can also create and save custom reports.

If you aren't able to find the report you require then you may reach out to us to help you locate (or build) the necessary reports.

Each report is available on your dashboard, or downloaded in a CSV PNG, CSV, or XLSX file. You can also use our Analytics and Reporting feature with third-party software for pulling in or sending the data.

Simple Flat-Rate Pricing

All aspects of are available for a one-time fee depending on the amount of transactions that you make through our system. And, there are zero upfront fees and you'll only be charged once a transaction occurs.

 "We were focused on not only finding an ecommerce platform that worked but also on developing a relationship with our customers and forming a partnership that I think is very important. It is not a good idea to purchase something only to be in a situation of being in a bind. You need a good relationship. In the end, we selected them because we could tell they wanted to be an authentic partner."

Build Your own SaaS Accounting Solution

Alongside that , you'll need software to manage things like payroll and income tax. Next, we'll cover the other options to provide solutions in these areas.

6. Other Accounting Software

1. Maxio (Formerly the former SaaSOptics)

SaaSOptics is among the most popular tools used to track SaaS parameters (e.g. monthly and recurring revenues), SaaS revenue recognition, and SaaS expense monitoring. They recently merged with Chargify (a platform for managing subscriptions system) to form Maxio.

Although Maxio offers a variety of services to provide SaaS firms, they won't take on transaction or indirect tax liability to you. Plus, you'll need other software to facilitate accepting preferred payment methods all over the world. (They cooperate in conjunction with Avatax to assist you in collecting VAT and sales tax, however, the capabilities are limited).

Maxio can provide solutions to

• Recurring billing.
• Management of revenue.
• Expense amortization.
• Integration with the payment gateways.
• Analytics, reporting, as well as forecasting.

2. Oracle NetSuite

Oracle NetSuite is a business management suite which provides solutions for accounting, B2B and B2C E-commerce, ERP CRM, and more. They serve many different industries including software companies. They also provide support to all sizes of businesses starting from SaaS startups to enterprises.

Notification: NetSuite provides single-seat access that streamlines the communication between your business as well as your CPA.

NetSuite provides solutions for:

• Financial reporting.
• Recognizing revenue.
• Automatic general ledger spreadsheets.
• Reporting of taxes.
• Control of revenues.
• Project planning and budgeting.

3. QuickBooks

QuickBooks By Intuit is an extremely popular accounting software for small to mid-sized companies and startup. It offers on-premise as well as a cloud-based version (called Quickbooks Online).

QuickBooks was not specifically developed to be used by SaaS firms. In fact, QuickBooks recommends SaaS companies join with SaaSOptics for the data and functionalities they need.

QuickBooks offers:

• Tools to manage payroll.
• Tools for accounts receivable and payable.
• Tools for tracking time.
• Tools for maximizing tax deductions.
• Virtual bookkeepers who can assist you to complete simple accounting tasks.
• Online payment processing or in person with certain debit and credit cards, ACH, Apple Pay, PayPal and Venmo.
• Business reports that are real-time (e.g. Profit and loss statements statement of cash flow)

4. FreshBooks

FreshBooks offers accounting tools to freelancers and businesses with multiple employees or contractors. They serve multiple industries including construction, engineering, tech, and more. They charge you based on the number of billing clients they have in the month. They start at five billing customers and growing to unlimited clients.

Freshbooks offers:

• Processing payments to MasterCard, Visa, Apple Pay, Discover and ACH.
• Project estimations and management.
• Mileage and time tracking.
• Payroll.
• Bookkeeping.
• Invoicing.
• Reporting.

5. Stripe

Stripe is a payment processor that can be integrated with your accounting software solutions to help you accept and manage the process of accepting and managing payments. Although their platform focuses on getting customer payments into your account at the bank, they do offer a couple of accounting related services, like revenue recognition.

Stripe can help with:

• Check out on your site.
• At checkout, collect sales tax.
• Fraud and risk management.
• Subscriptions and recurring invoicing.
• Data warehouse management.
• In-person payments.

6. Xero

Xero can be described as an accounting program that is suitable for accountants, small-sized businesses as well as bookkeepers. Xero is yet another program that isn't specifically designed to serve SaaS businesses, and instead offers an integration with SaaSOptics.

The features of Xero comprise:

• Accounts payable and cash flow automated.
• Reimbursement and management of expenses.
• Multiple integrations of bank accounts.
• Invoicing online and making payments.
• Payroll.
• Project management.