Accounting software plays a crucial role in managing finances and ensuring accuracy in reporting and compliance for businesses and organizations. With the growth of computerization, several accounting software solutions have emerged in the market to cater to various accounting needs.
In the United States, there are certain mainstream accounting software that dominate the market based on their features, capabilities and adoption rate.
According to various surveys and industry reports, QuickBooks by Intuit is the most widely used small business accounting software in the USA. Some key reasons for its large-scale adoption include:
1 – Easy to use interface and navigation: QuickBooks has simplified accounting practices into easy workflows and modules like accounts payable, accounts receivable, payroll, inventory etc through an easy-to-understand interface. This helps small businesses with no accounting expertise to effectively leverage it.
2 – Comprehensive core accounting features: It has all the fundamental accounting modules required for financial management and reporting. Some key features are invoicing, expense tracking, financial report generation, tax preparation and so on.
3 – Multiple pricing plans: QuickBooks is available in various pricing options – monthly subscription plans, yearly plans and desktop versions to suit freelancers, startups, contractors, side hustles, and growing small businesses.
4 – Strong marketplace for add-ons: There are many add-ons and integrations available with essential third-party software and productivity tools, further expanding its capabilities.
5 – Wide accountant network provides implementation support: QuickBooks has extensive accountant and bookkeeper partners across USA who assist clients in getting set up, managing and optimizing their usage.
While other alternatives like Sage, Xero and FreshBooks are rising in adoption, QuickBooks continues to dominate with over 80% market share in the US small business accounting software space owing to its user-friendly and feature-rich capabilities. Higher national availability of supporting accountants also propagates its wide-scale usage.
Conclusion
n summary, QuickBooks evidently leads the accounting software market in the United States attributed to key factors like simplicity of use, comprehensive features, flexible pricing, broad third party integrations and wide supporting accountant network for small businesses and users without an accounting background.
Continued innovation and product development have aided Intuit QuickBooks in gaining the top spot that appeals to the largest segment of accounting software customers in USA.
