The 14 Best Business Budgeting Software Tools (2024)

Mike Renaldi

Budgeting is everything, especially for small businesses whose life depends on putting their cash in the right places. Luckily, there are many software tools available to help businesses with their budgeting needs.

So, let’s up your budgeting game. We’ll be discussing what business budgeting software is, the benefits of using one, and 14 of the best tools of the trade for budgeting and cash flow management. Finally, you’ll find out how Wise can streamline and automate the budgeting process for your business.

Save and track overseas expenses
easily with Wise 🚀

👉 Connects with Wave, Sage, QuickBooks, NetSuite, and Xero
👉 Make low-cost conversions and transfers
👉 Control your spending with limits and alerts
👉 Move funds between currencies seamlessly
👉 Hold 40+ currencies at once

Table of Contents

What is business budgeting software?

Business budgeting apps and software have taken over the old-fashioned way of manually preparing a budget using a calculator, a template in Microsoft Excel, or even a pencil and paper. Instead of you going through the different parts of a business budget on your own, this type of software is designed to do all the budgeting for you, giving you more time to focus on other aspects of running your business.

These programs also help manage and track your finances more efficiently, and some of them can even offer advice on where you can save money. The best business budgeting software will offer a variety of features, including:

  • Ability to track income and expenses

  • Generate reports

  • Create and manage a budget

  • Financial forecasting

Important Tip 💡

One thing that you will notice while going on various websites for budgeting, cash flow forecasting, and accounting software is the availability of free trials. One additional thing you can do is ask for extensions on free trials, and if they are not included on the website, you might benefit from asking for discounts or trial periods all the same.

This tip becomes especially relevant for cash flow software or software that is typically integrated into popular applications, such as QuickBooks and Xero. Furthermore, you will also find out that the smaller the company is, the more they are willing to work with you as a user. This fact may push you to some of the lower-level tools with more basic features. If you are on a tight budget, you will find that you can save on basic tools while leaving out the advanced features that industry leaders are known for.

The 14 best business budgeting software tools

Ready to transform the way your business budgets? The list includes both general budgeting tools and cash flow forecasting tools. While general budgeting tools will give you what you need, a cash flow forecasting tool can help your business overcome crucial barriers to success. These tools often integrate into your budgeting and accounting tool but have stronger forecasting features. Both will prove essential your business for months and years to come.

1. Xero

Xero is a cloud-based accounting software for small business owners to manage their finances. This includes budgeting, invoicing, expense tracking, and financial reporting. With the ability to make and receive payments in 160+ currencies, nothing is off-limits.

Xero is one of the go-to accounting and budgeting applications. It offers support, knowledge hubs, and integrations that make life significantly easier for entrepreneurs and small businesses. Your accountant is likely to know this software which means they won't be raising their eyebrows when asking them to use it.

Pricing¹Features (Lowest-tier price)Pros and cons
• Early $12/month

• Growing $34/month

• Established $65/month

• Send quotes and 20 invoices

• Enter up to 5 bills

• Reconcile transactions

• Capture bills and receipts with Hubdoc

• Short-term cash flow management

• Connects with Wise

✅ Integrations

✅ Scalability

✅ Support/Knowledge Hub

✅ Widely used by accountants bookkeepers

❌ Limited forecasting functionality

Save money and connect your Xero
with Wise Business 🚀

2. QuickBooks

QuickBooks is a popular accounting software option for managing business income and expenses. This all-in-one solution is one of the best small business budget software on the market - small businesses accounted for 40% of the 3.3 million QuickBooks online subscribers in 2019

QuickBooks is a mainstay of accounting and budgeting software. Similar to Xero, you can expect functionality that covers all areas with native budgeting tools that satisfy your basic needs and access to integrations that will satisfy your long-term desire for in-depth cash flow forecasts. It is so well-known in the industry that beginners can even access a complete course that introduces you to QuickBooks and bookkeeping in general.

Pricing³Features (Lowest-tier)Pros and cons
• Self-employed $15/month

• Simple Start $30/month

• Essentials $55/month

• Plus $85/month

• Advanced $200/month

• Track income and expenses

• Run basic reports

• Capture & organize receipts

• Estimate quarterly taxes

• Connects with Wise

✅ Integrations

✅ Scalability

✅ Support/Knowledge Hub

✅ Widely used by accountants bookkeepers

✅ Free trial

❌ Limited forecasting functionality

❌ Learning curve

Save money and your QuickBooks
with Wise Business 🚀

3. Sage Accounting

Sage provides business software to small- and medium-sized businesses. Their solutions can be categorized by business size, industry, and business need, making it easy to find what you need. With products available in over 30 languages, they are a top choice for businesses with international reach.

Sage Accounting is also favorite for accounting and budgeting software. Like other industry leaders, it offers an all-in-one platform that will satisfy many of your budgeting needs. This software includes need cash flow management, which might satisfy initial forecasting needs.

PricingFeatures (Lowest-tier)Pros and cons
• Sage Accounting Start: $10/month

• Sage Accounting: $25/month

• Pro Accounting $57.17/month

• Premium Accounting $92.00/month

• Quantum Accounting $152.42/month

• User Invoice and bill tracking

• Purchase order and approval

• Expense management

• Automated bank reconciliations

• Reporting Inventory management

• Job management

• Payroll-ready

• Connects with Wise

✅ Integrations

✅ Free trial

✅ Scalability

✅ Support/Knowledge Hub

❌ User interface

Save money and your Sage account
with Wise Business 🚀

4. Wave

Wave is one of the most popular budgeting tools for small businesses with a tight budget and basic needs. It stands out because of its price - it's free! This cloud-based platform offers accounting, invoicing, and budgeting features - all for free.

Of course, they're hoping that you'll get the itch in the future to purchase one of their paid plans. However, if you're looking for some basic budgeting and cash flow functionality, you'll find it with Wave.

PricingFeatures (Lowest-tier)Pros and cons
• Accounting $0/month starting• Get unlimited income and expense tracking

• Add unlimited partners, collaborators, or accountants

• Charge clients based on dashboard

• Make unlimited bank and credit card connections

• Access helpful reports like Overdue Invoices & Bills and Profit & Loss

• Connects with Wise

✅ Easy to use

✅ Free

✅ Unlimited users

❌ Limited support

❌ Scalability

❌ Limited features

Save money and your Wave account
with Wise Business 🚀

5. FreshBooks

If you're looking for an easy-to-use accounting solution, FreshBooks might be the right fit. This cloud-based software is designed to save freelancers and small businesses time and money. With over 100 app integrations, they can streamline manual tasks like invoicing and expense tracking.

PricingFeatures (Lowest-tier)Pros and cons
• Lite $6/month

• Plus $12/month

• Premium $22/month

• Send unlimited invoices to up to 5 clients

• Track unlimited expenses

• Send unlimited estimates

• Get paid with credit cards and bank transfers

• Track sales tax & see reports

• Access anywhere on iOS and Android

✅ Easy to use

✅ Price

❌ Limited support

❌ Scalability

❌ Charge for additional users (lowest-tier plan)

6. Casual

Casual is a cash flow forecasting tool that uses artificial intelligence to help businesses with their finances. This cloud-based software looks at your past data to predict future cash flow. As well, it provides interactive insights to help you make better spending decisions.

PricingFeatures (Lowest-tier)Pros and cons
• Free $0/month

• Startup $250/month

• Business Upon request

• 5 models

• 25 category items

• Unlimited dashboards

• Google Sheets integration + CSV upload

✅ Easy to use

✅ Price

❌ Limited support

❌ Scalability

❌ Charge for additional users (lowest-tier plan)

7. Float

Float is a cash flow forecasting tool that gives you a look into your future cash position. This level of financial control gives you the power to make informed decisions about your cash flow(see Float App alternatives).

PricingFeatures (Lowest-tier)Pros and cons
• Essential $59/month

• Premium $99/month

• Enterprise $199/month

• 3 users

• 5 additional scenarios

• 3 years future forecast

• Weekly cash summary

• Export Your Forecast to CSV & PDF

• Budget vs actual reporting

• Manage invoice & bills

• Email support

• Set up call with a Float expert

✅ Industry leader

✅ Support

✅ Scalability

❌ Limited additional users

❌ Price

8. Finmark

Finmark offers financial planning and modeling software to small businesses and startups. For this reason, you will find that Finmark takes financial calculations and distills them into a simple interface for companies to continuously examine and update their financial metrics.

PricingFeatures (Lowest-tier)Pros and cons
• New business $50/month

• Under $500k annual revenue $100/month

• Create, update and share your financial plans

• Manage burn rate and cash

• Plan for contingencies

• Forecast your revenue and expenses

• Fundraise

✅ Integrations

✅ Flexible Dashboards

❌ Price

9. OneUp

OneUp is an app for small business users on the go. Whether on mobile or desktop, it allows you to access accounting and cash flow features that will keep you one step ahead. OneUp has an affordable price and includes other features outside the scope of this article, such as Customer Relationship Management (CRM) and inventory management. Overall, OneUp offers a one-stop shop for many critical aspects of running a small business.

Pricing¹⁰Features (Lowest-tier)Pros and cons
• Starter $0/month

• Smarter $15/month

• Sophisticated $35/month

• Invoicing

• Accounting

• Inventory

• Sales and Vendor Quotes

• Purchase Orders

• Credit Memos

✅ Free

✅ Mobile focus

✅ Cash flow feature

❌ Scalability

10. Zoho Books

Zoho Books is a budgeting and accounting tool. Instead of coming all in one, many other features, such as expense, are separated into another app, which functions with Zoho Books or can be purchased separately.

The budget feature is simple - add a name, fiscal year, and budget period. Similar to other budget and accounting software, you can base your new budget on the actuals from a prior year or budget period. This feature is assisted with the ability to connect to your bank to import past transactions. That's all you need to get started.

Pricing¹¹Features (Lowest-tier)Pros and cons
• Free $0/month

• Standard $20/month

• Professional $40/month

• Premium $70/month

• Elite $150/month

• Ultimate $270/month

• 1 User + 1 Accountant

• Manage Invoices (Up to 1,000 per annum)

• Automate Payment Reminders

• Recurring Invoices

• Add Multiple Bank and Credit Card Accounts

• Import Bank and Credit Card Statements

• Bank Rules & Reconciliation

• Manual Journals

• Reports

• Schedule Reports

✅ Native cash flow forecasting functionality

✅ Price

❌ Limited integrations

11. Fathom

Fathom is a financial analysis tools with cash flow forecasting and business reporting functionality that offers solutions for small and mid-size businesses. Users can expect automated results based on their actuals and data from previous periods.

Fathom offers the chance to create forecasts on multiple scenarios and automates data entry using past financial data pulled from integrations with Xero, QuickBooks, Excel, and MYOB.

Pricing¹²Features (Lowest-tier)Pros and cons
• Starter $55/month

• Silver $325/month

• Gold $425/month

• Platinum $650/month

• Unlimited branded reports

• In-depth analysis tools

• Group benchmarking

• Multi-currency consolidations

• Cash flow forecasting

• Unlimited users

• Multi-channel support

• Certifications and training

✅ Integrations

✅ Multiple scenarios

❌ Limited support

❌ Price

❌ Scalability

❌ Scenarios can be challenging to build

12. LivePlan

LivePlan is the business planning and management software created to support the success of small businesses and entrepreneurs. LivePlan automates your projections and financials with built-in formulas.

Live plan offers a performance dashboard that makes your budgets and sales forecasts come to life through visualizations.

Like many other budget and forecasting software, LivePlan syncs with QuickBooks or Xero with LivePlan. With your accounting data flowing into LivePlan, your projections and budgets will help create quality forecasts based on past and current numbers, while also ensuring that you know when your forecasts differs from your actuals.

Pricing¹³Features (Lowest-tier)Pros and cons
• Standard: $20/month

• Premium: $40/month

• Step-By-Step Instructions

• Automatic Financial Statements

• Full Financial Forecast

• One-Page Pitch Builder

• 500+ Sample Plans

✅ Easy to use

✅ Price

❌ Limited support

❌ Scalability

❌ Charge for additional users (lowest-tier plan)

13. Futrli

Futrli is a forecasting tools that puts the ability to draw up forecasts and reports at your fingertips. Tap into your financial and non-financial data using their templates or generate them from scratch.

Reports include both financial and non-financial KPIs, which use data across your pre-selected dates which span up to 10 years in the future and across various scenarios.

Futrli also integrates with Xero and QuickBooks, reducing data entry and giving the user an ability to quickly see their forecasts

Through integrations with Xero and QuickBooks Online, data is automatically updated, reducing the need for users to manually enter data, and enabling forecasting directly from the previous year’s actuals. Budgets can also be manually imported from CSV files.

Pricing¹⁴Features (Lowest-tier)Pros and cons
• Predict: $35/month• Business performance analysis for any industry

• Accurate forecasting predictions

• Rolling 5-year profit & loss, balance sheet & cash flow

• Short-term invoice and bills forecasting

• Variance analysis across all accounts

• Portfolio management for multiple entities

✅ Integrations

✅ Incorporates non-financial KPIs

❌ Limited support

❌ Focused on accountants/bookkeepers

14. Excel/Google Sheets

You might not have expected Excel or Sheets to round out the list, but these tools are affordable, flexible, and easy to use for small businesses.

If you’re not quite ready to pull the trigger on software, you will find tons of business templates online that can meet your initial needs. For example, Wise has a cash flow statement template that will help you get an overview of your company’s cash flow. Though you will find it uncomfortable to operate

multi-currency-cash-flow

Important benefits of business budgeting software

According to Clutch, only 50% of small businesses created an official budget in 2020.¹⁵ Among those, only a third spent more than planned, showing that budgets really do help. With all these treat features, a quality business budgeting tool has advantages and benefits that can help any business, no matter what size.

  • Forecasts for specific instances

Work out future needs and make plans for them. For example, a change in interest rates or an increase in marketing expenses.

  • Create reports and visualizations

Turn your financial data into visual reports that show where your money is going and present the data to key stakeholders.

  • Notifications and alerts

Stay on top of important changes, such as when a bill is due or when you're almost at your credit limit.

  • Mobile Apps

Access your budgeting software from anywhere. This might include viewing your budget, making changes, and adding expenses – all from your smartphone or tablet.

  • Accurate financial records

Categorize transactions automatically, so your budget is always up-to-date.

  • Single source of truth

Stick to one place to track and manage your finances, so you can avoid errors and duplication. This issue will grow increasingly important as you scale your business and your team grows.

  • Source data integration and data management

Combine data from many sources to ensure accurate and up-to-date information.

  • Top-down budget entry and budgeting by exceptions

Enter your budget from the top down or bottom up. Or, budget only for the exceptions – meaning, you'll only track and manage what's outside your normal operations.

  • Self-service analysis and reporting

Generate the reports you need to make informed decisions without relying on IT or an external provider.

  • Exception reporting and alerting

Avoid surprises by setting up exception reporting to automatically flag items that are outside your desired range. You can also create alerts to notify you when specific conditions are met.

  • Process controls and permissions for collaboration

Easily give your bookkeeper or external accountant access to your data, and set limited access for sensitive information.

  • Extract to Excel

Easily export your data into Excel for more analysis or to share with others.

Make budgeting even easier with Wise

Wise makes carrying out your budgeting processes easier.

  • Integrations: Connections with Xero, QuickBooks, Wave, and Sage means your transactions are automatically reflected in your accounting software, which will then allow you to reconcile transactions and keep you up-to-date on how you're carrying out your budget.

  • Pay freelancers and suppliers for less Make your budget go further with Wise transfers that are 19x cheaper than Paypal. We do this by using the mid-market rate - the real exchange rate you find on Google. When you make an international transfer with Wise, you get the mid-market rate, every time.

  • Easy money management: With a Wise business account, you can check your account, move money, and manage over 50 currencies from your account.

Save and track overseas expenses
easily with Wise 🚀

Learn More:

HoneyBook Competitors and Alternatives
LivePlan Competitors and Alternatives
GoDaddy Bookkeeping Competitors and Alternatives


Sources used:

  1. Ace Cloud Hosting - Statistical Analysis: QuickBooks and Intuit
  2. Xero - Pricing
  3. QuickBooks - Pricing
  4. Sage - Pricing
  5. Wave - Pricing
  6. FreshBooks - Pricing
  7. Causal - Pricing
  8. Float - Pricing
  9. Finmark - Pricing
  10. OneUp - Pricing
  11. Fathom - Pricing
  12. Zoho Books - Pricing
  13. LivePlan - Pricing
  14. Futrli - Pricing
  15. Clutch - How Small Businesses Budget

All prices are based on monthly payment plans and do not include limited-time offers

Sources last checked November 14th, 2022


Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

Money without borders

Find out more

Tips, news and updates for your location