Running a small business is no easy feat. There are a million and one things to think about and keep track of, so it can be tough to stay on top of everything. Your business budget is one of the most important things that require constant attention.
A well-managed budget can help you save money, make informed decisions, and avoid financial difficulties down the road. There are several ways to approach financial tasks, but one of the most effective is to use business budgeting software. Here’s our list of the five best products on the market.
1. QuickBooks Online
EXCELLENT
EXCELLENT
EXCELLENT
EXCELLENT
- Customized or built-in reports
- Easy-to-use intuitive interface
- Scalable pricing plans
2. FreshBooks
EXCELLENT
GOOD
EXCELLENT
EXCELLENT
GOOD
- Easy to use for beginners
- Excellent time-tracking features
- Affordable monthly plans
3. Scoro
EXCELLENT
EXCELLENT
FAIR
EXCELLENT
FAIR
- All-in-one business finance solution
- Robust CRM features
- Cheap monthly plans
4. Xero
GOOD
GOOD
EXCELLENT
EXCELLENT
FAIR
Xero is another excellent accounting software program that offers a wide range of features for small businesses. The cloud-based software lets you track your income and expenses, create invoices, manage bills and payments, and more.
Xero also includes some unique features, such as tracking inventory and creating purchase orders. If you’re looking for an all-in-one solution for your business finances, Xero is worth considering.
5. PlanGuru
EXCELLENT
GOOD
EXCELLENT
FAIR
FAIR
- Over 20 forecasting methods
- Plan budget up to 10 years ahead of time
- Allows importing up to 5 years of results
Our Methodology
To help you choose the best budgeting software for your business, we considered features, ease of use, and pricing, among other factors. We also looked at online reviews to get a sense of what real users think of the products on our list. Here’s the list of our criteria:
Ease of Use
The last thing you want is to struggle with your budgeting software when trying to manage your finances. The dashboard and navigation should be user-friendly and easy to understand. We considered whether the software offers helpful tutorials to guide you through the process.
Tracking and Reporting Tools
Good budgeting software for business needs should include tools for tracking income and expenses and creating reports. These features are essential for gaining insights into your business finances and making informed decisions.
When you gather the reports generated by the software, you should be able to see your business’s overall financial health and make better-informed decisions.
Integrations
Budgeting software should be able to integrate with other business applications, such as accounting software and top-rated CRM platforms. This allows you to streamline your workflows and avoid manually entering data into multiple systems. Having all the information you need in one place can save you time and hassle.
Additional Features
We looked for budgeting companies that offer various features to help businesses manage their finances. Some of the standard ones we looked for include the ability to track income and expenses, create invoices and estimates, manage bills and payments, and more.
However, some products offer more advanced tools that help with things like forecasting, inventory management, and project management.
Pricing
Pricing is one of the crucial factors when choosing software for your business. We looked at the various pricing plans offered by each company and considered whether the price is fair for the features and capabilities offered.
If you’re just starting your own business, you might be tight on cash. So we looked for software for budget management that’s affordable for small businesses. We also considered whether the company offers any discounts or free trials.
Customer Support
In case you run into any problems with the software, the provider should be able to offer swift and accurate assistance. We considered whether the provider provides live chat, phone support, or email support. We also looked at online reviews to see what users say about the quality of customer support and whether they’re satisfied with the response time.
Business Budgeting Software: Our Top Picks
QuickBooks Online
FreshBooks
Scoro
Xero
PlanGuru

Business Budgeting Software Reviews
QuickBooks Online Review
EXCELLENT
EXCELLENT
GOOD
EXCELLENT
EXCELLENT
- ⦿ Comprehensive reporting tools
- ⦿ Large selection of third-party app integrations
- ⦿ Robust accounting and bookkeeping features
Scoro Review
EXCELLENT
EXCELLENT
FAIR
EXCELLENT
GOOD
- ⦿ Budget planning and forecasting
- ⦿ Invoicing automation
- ⦿ CRM features
FreshBooks Review
EXCELLENT
GOOD
EXCELLENT
EXCELLENT
GOOD
- ⦿ Excellent invoicing services
- ⦿ All plans include unlimited estimates
- ⦿ Affordable pricing plans and seasonal discounts
Xero Review
GOOD
GOOD
EXCELLENT
EXCELLENT
FAIR
- ⦿ Excellent integration options
- ⦿ Job profit margins in an easy-to-comprehend chart
- ⦿ Automated bill and receipt capture
PlanGuru Review
EXCELLENT
GOOD
EXCELLENT
FAIR
FAIR
- ⦿ Robust budgeting and forecasting features
- ⦿ Excellent cloud-based mobile app
- ⦿ Insightful dashboards and charts
Budgeting software is a tool that helps businesses manage their finances by tracking actual results against budgets, setting goals and KPIs, and viewing insightful dashboards and charts. Good budgeting software can help businesses of all sizes manage their finances more effectively.
Nowadays, you can find free business budgeting software to create a budget for your small business. You just need to enter your business income and expenditures, and the software does the rest for you.
If you wish to go with spreadsheets, you should determine your financial goals, identify income and expenses, set goals and KPIs, and write a comprehensive business plan.
The best software for calculating your budget would be one that is easy to use and offers a wide range of features. PlanGuru is one such business budgeting software program, and it’s designed to be used by companies of all sizes. It is packed with features and can be pretty complex, but it offers the most comprehensive budgeting and forecasting functionality.
If you need an all-in-one solution that’ll provide you with both accounting and budgeting features, Xero & QuickBooks Online would be better suited for your needs.