The Battle for Accounting Software
Since its launch 12 years ago, Intuit's QuickBooks has dominated the market for small business accounting software. Now dozens of startups are challenging QuickBooks with new online tools that aim to make accounting and financial management easier. Here are some fast-growing new rivals.
Users: 100,000Price: Charges only for tax filings—$5 per 1099 formBackers: Sequoia Capital, First Round Capital, Shasta Ventures, SoftTech VC, Felicis VenturesSynchronizes with bank, credit-card, and PayPal accounts, categorizes income and expenses, and calculates taxes.
Users: 22,000Price: $19-$39 monthlyBackers: Founder Rod Drury and board members Sam Morgan and Craig Winkler; publicly traded since 2007Organizes a company's bank and credit-card accounts, expenses, invoicing, and contacts. New Zealand-based Xero offers limited services to American users today, but is upgrading its U.S. site in December.
Users: 6,000Price: Basic version is free; enhanced services $30-$100 monthlyBackers: Y Combinator, YouTube co-founder Jawed Karim, Eventbrite CEO Kevin HartzOrganizes and analyzes information from credit-card and banking accounts to create financial reports and graphs and offers algorithms to forecast a user's cash flow.
Users: 2,400Price: $10 monthly for unlimited users at a companyBackers: Canadian tax preparation firm FBC Helps users create audit-ready, shareable financial statements. By yearend, companies will also be able to automatically synchronize their bank and credit-card accounts with Kashoo accounts.
Data: Companies; Registered Users for Outright, Active Users for the Others