Best Overall 🏆
The winner for its smooth workflow, focusing on exactly what you need in accounting software.
Best For U.S. 🥈
A sales-focused CRM that uses AI to automate repetitive tasks and manage leads and sales.
Easiest To Use 🥉
The industry leader & the incumbent. This will have the most integrations and support network.
So, you are in the market for accounting software in New Zealand.
Ideal, because in this article we have our compilation list for our top picks, and we compare the features and pricing for you.
If you just want the best choice, we’ve added that right at the top of the article as this was what is most requested by our customers and what we see the best feedback with. So, that’ll be the “can’t go wrong” option.
Otherwise, feel free to explore all the options we’ve reviewed on the market to find something that might fit you a little better.
Enjoy the list!
The Best Accounting Software Specifically for New Zealand
As a business owner, having accounting software that organizes your finances and helps with tax calculation is a must. If you're a business based in New Zealand, it's crucial to account your expenditures to scale swiftly and maintain tax compliance to avoid the wrath of authorities. Have a look at the products below to choose the best accounting software in New Zealand:
Xero is an intuitive and beautiful accounting software that helps you run the money side of your business. You can create and send quotes, manage bills, sort bank transactions, chase payments and analyze financial data. Xero provides you with a cloud-based accounting platform, accessible invariably from any remote location.
Here are some exclusive features of Xero:
Bill Payments: Xero helps you make timely bill payments by providing a clear overview of accounts payable and cash flow. You can schedule and make batch payments, plus access all bills inside your Xero interface. With Xero, you can build good relations with suppliers by avoiding late payments and keep the money flowing timely.
Claim Expenses: Xero provides an expense manager to help you capture costs to reimburse expense claims. You can monitor employee spending and approve claims without delay. Additionally, you can use OCR technology to scan vital information and auto-fill your claim.
Bank Connections: Xero connects with your bank accounts and sets up a feed where transactions flow securely. You can set multiple feeds for different accounts. Xero lets you reconcile daily and provides; an accurate depiction of your business finances. All your bank transactions are securely imported between the Xero database and Bank.
Invoicing and Payments: Xero lets you accept payments online through Stripe, GoCardless and other integrations. You can generate invoices and add a "Pay Now" button to redirect clients to the payment gateway. Additionally, Xero offers excellent online protection from fraudulent activities and has an unbreachable database.
Project Tracking: Xero offers a job tracker helping you track costs and project profitability. You can prepare budgets by using cost estimates and send customized quotes. Moreover, Xero allows you to do location-based tracking on Mobile and seamlessly link costs to projects.
Xero offers 3 Pricing options for its Accounting software.
The "Starter" plan is priced at $22/month and allows you to send upto 20 invoices. You can reconcile bank transactions and capture bills or receipts through Hubdoc.
The "Standard" plan is priced at $35/month and offers bulk reconcile transactions. Moreover, you can manage short-term cash flow and get a business snapshot of your current finances.
The "Premium" plan is priced at $47/month and allows you to send unlimited invoices. You can use multiple currencies and access all accounting features of Xero.
Additionally, Xero offers 3 Add-on packs. The "Claim Expenses" is priced at $4/month, and The "Track Projects" and "Analytics" are priced at $7/month.
QuickBooks helps businesses, freelancers, and self-employed people to properly account for their expenses and income. You can make payments to contractors or employees and maintain profitability by auto-tracking the expenditures. QuickBooks provides salient accounting features, enabling you to analyze your profit margins.
Here are some exclusive features of QuickBooks:
Cloud Accounting: QuickBooks offers mobile access to its database and provides online banking integration, automatically updating your transactions and statements. You can monitor the real-time status of your expenses or invoices from anywhere and remotely handle the accounting.
Business Funding and Income Tracking: QuickBooks syncs the bank transactions and tracks the total cash flow of your business. It helps you properly allocate funds to your business endeavours and maintain profit margins after operating costs. Additionally, you can create Tax-compliant invoices and track unpaid GST bills to remind clients about payment.
Online Banking: QuickBooks brings your banking activities online and offers One-click reconciliations. You can connect different bank accounts with QuickBooks and auto-categorize transactions to match expenses or invoices. QuickBooks enables you; to stay on top of your financial situation and maintain cash flow.
Accounting Reports: QuickBooks offers real-time insight into your business data and generates financial reports showcasing balance sheets, profit margins and cashflow statements. You can track all pending invoices and avoid chasing payments at the last second. QuickBooks offers customized data analysis helping you identify business trends.
Inventory Management: QuickBooks helps you easily handle the business inventory and get a real-time evaluation. Your inventory list is automatically updated whenever you make a sale or add a new product. QuickBooks helps you track your restock orders from the vendors and keep every sale recorded in the database.
QuickBooks offers 4 Pricing options for its accounting software.
The "Simple Start" plan is priced at $25/month and offers general reports, receipt capture, plus mileage tracking. Additionally, you can manage tax deductions, incomes and expenses or invoices and payments.
The "Essentials" plan is priced at $50/month and offers enhanced reports, bill management, plus sales tax estimation. Additionally, you get 3 User accounts and can assign vendor payments to contractors.
The "Plus" plan is priced at $80/month and offers inventory management plus project profitability determiner. Additionally, you get 5 User accounts and can convert estimates to invoices.
The "Advanced" plan is priced at $180/month and offers customized access, on-demand training, data restoration, plus workflow automation. Additionally, you get more than 5 User accounts and can do business analytics with Excel or manage employee expenses.
ZipBooks is a simple, powerful and intuitive accounting platform that gives you the tools and intelligence to upgrade your business. It saves your time from doing mundane Bookkeeping tasks by offering automation and intelligent insights. ZipBooks is an ideal entry-level solution for freelancers or firms looking for accounting software.
Here are some exclusive features of ZipBooks:
Accounts Receivable: ZipBooks tracks receivable accounts and keeps accurate customer records. Moreover, it automatically updates the revenue earned and amounts owed in your accounts receivable report. You can manually edit any transaction outside ZipBooks into the database and gain thoughtful feedback on which clients regularly pay within a reasonable timeframe.
Bank Connect and Reconciliation: ZipBooks offers Bank connectivity and automatically streams your transactions on its platform after account verification. Moreover, you can view the current balance of your bank account plus the confirmed transactions in ZipBooks to make reconciling easier.
Auto-Categorization: ZipBooks eliminates the repetitive data entry tasks from the bookkeeping and accounting process. It combines your work with research from other users and best accounting practices. Once done, it automatically categorizes your transactions. ZipBooks is an intelligent platform that uses Machine learning to learn your usage patterns and evolve accordingly.
Chart of Accounts: ZipBooks offers a chart of accounts, organizing everything in one central location. Here you can view the total inventory amount and overdue payments. Moreover, you can personalize additional account categories for your business.
Reporting: ZipBooks offers a snapshot of general payment trends and a balance sheet to document your assets, liabilities and equities. It calculates your profits and creates balance sheets that reflect periodic financial data. Additionally, you can highlight crucial aspects of your report and analyze all categories within your chart of accounts.
ZipBooks offers 4 Pricing options for its accounting and reporting platform.
The "Free" plan is priced at $0 and connects with one bank account. Additionally, it offers unlimited invoices, basic reports, vendor and customer management and PayPal integration.
The "Smarter" plan is priced at $15/month and offers 5 team member accounts. Additionally, it provides reminder automation, multiple bank connectivity, time tracking and invoice scheduling.
The "Sophisticated" plan is priced at $35/month and offers unlimited user invitations. Additionally, it provides smart tagging, category customization, quick reconciliation and insightful reports.
The "Accountant" plan offers an on-demand pricing quote. It provides time tracking across client accounts, data migration, dashboard and transaction editing.
Akaunting is a free cloud accounting platform that offers bookkeeping tools for SMEs. It provides feature-rich software that tracks your transactions and invoices constantly. With Akaunting, you can make the portal accessible for your clients and share receipts or accept bulk payments.
Here are some exclusive features of Akaunting:
Free and Open-source Platform: Akaunting does not involve any hidden set-up fees and offers an entirely free accounting platform without any limitations. Moreover, due to its open-source nature, you can install Akaunting on your host and make changes to intrinsic features. Akaunting enables you to see and assess your financial situation online from anywhere.
Customer and Vendor Management: Akaunting allows you to create vendors and assign them bills or payments. Similarly, you can generate client contacts and send them invoices. You can also set up a client portal for your customers so they can view their assets and account books. Akaunting lets you filter the transactions easily and file them under the correct address.
Powerful Reporting: Akaunting offers detailed financial reports to help you visualize the relevant information to improve your business. You can see a graphical depiction of your account books to analyze the current economic affairs of your business. Akaunting provides quality insights that help you file accurate returns.
Customer Summary: Akaunting integrates with several CRM and project management tools to help you import client addresses. Moreover, Akaunting automatically created the customer profile with the correct address, list of transactions and paid, open or overdue totals at a glance.
Multi-Currency: With Akaunting, you can send invoices or add expenses in any currency and let the system convert the balance into your main denomination. It allows you to get the exact exchange rate and accept payments globally. Moreover, Akaunting automatically comprehends repetitive actions and executes them in a precise fashion periodically.
Akaunting offers 2 Pricing options for its accounting platform.
The "Free Cloud" plan offers one user account and is priced at $0. Additionally, it provides live currency rates, a billing calendar, a dedicated accountant profile and community support.
The "Premium Cloud" plan is priced at $36/month and offers unlimited user accounts. Additionally, it provides bank feeds, balance sheet and trial balance, general ledger, manual journals, chart of accounts and a client portal.
GnuCash is a free accounting platform that allows you to track bank accounts, stocks, income and expenses. It is based on core accounting principles to ensure accurate reporting and bookkeeping. Moreover, GnuCash is downloadable on your device and ideal for every business due to its flexible, powerful, intuitive interface.
Here are some exclusive features of GnuCash:
Checkbook-Style Register: GnuCash offers a custom, practical and familiar interface to input financial transactions. Moreover, you can enter split transactions, display multiple accounts in a single register window and customize the display style. GnuCash lets you autofill and marks the transaction as cleared or reconciled.
Scheduled Transactions: GnuCash lets you create recurring transactions and set automatic due reminders. It offers high-level timeline customization and allows you to postpone the scheduled transactions without aborting or inputting them before the set date. GnuCash simplifies banking by providing automation and scheduling.
Reports and Graphs: GnuCash offers an integrated module to display your finances in the form of pie charts, bar charts and scatter plots. Additionally, it provides a full suite of customizable reports like balance sheet, portfolio valuation and profit margin. GnuCash's reports are personalizable in appearance, parameters and content.
Statement Reconciliation: GnuCash offers a reconciliation tool to compare your inputted transactions against bank statements. It allows you to spot untracked transactions or data entry errors and ensure your accounting books match the bank records. GnuCash automates the reconciling and highlights the discrepancies in your database records.
Contact Tracking and Invoicing: GnuCash offers customer and vendor tracking, invoicing and tax calculation tools within its platform. You can manage employee payroll and plan your financial strategy by organizing your business budget. GnuCash ensures you have all relevant details to connect with the clients and vendors.
GnuCash is open-source and free accounting software. It does not offer any pricing options; you can download the tool by visiting the GnuCash website.
Why use Accounting Software at all?
Finance management plays an intrinsic part for every business; in driving growth and boosting revenue. Your finances include everyday transactions, tax returns, lease costs, business revenue and other operational expenditures. Having a dedicated tool to automate the reconciliation and transaction tracking can help you optimize your financial health.
Accounting software enables you to automate and digitize your entire finance management. You can track transactions, accurately reconcile accounts and calculate tax returns. With accounting software, your business can be more stable financially, and you can expand swiftly to grow your revenue.
Why should you use Accounting Software in New Zealand?
New Zealand taxes resident companies over their worldwide income, while non-resident companies are only taxable for source income. Additionally, business costs in New Zealand are at an all-time high, and you need effective accounting software to manage your finances.
Having accounting software enables you to automate your tax returns and allocate a budget towards every client project or marketing campaign to avoid overspending. With accounting software, you can get an overview of the cash flow in your business and gain a better understanding of; your finances.
Accounting software allows you to regulate your company's finances. Apart from automating tax calculation and filing, it automates bank reconciliations, transaction source tracking and financial analysis. You can use the reporting tools to gain deeper insights and make necessary changes to increase revenue.
With accounting software, you can successfully maximize your company's potential by reducing expenditures and serving a larger clientele. It ensures you can focus on growing instead of tracking transactions or filing returns.
Accounting Software for New Zealand, A Summary
New Zealand is a first-world country, meaning it's highly expensive to start a business from the ground. On top of that, you have to stay in line with the tax regulations. Accounting software helps you track transactions to manage finances and automatically calculates and files your tax returns.
Xero offers high scalability and quality accounting features that let you grow swiftly. It is our suggested pick for accounting software in New Zealand. Visit the website to get started.