Best business budgeting software

Budgeting software is widely used by businesses across industries to help manage finances, the main benefit being to minimise repetitive mundane tasks for companies.

The software often includes finance and accounting features such as process automation, analytics and other insights.

Here are some of the best budgeting tools for businesses.

Read next: What is open banking?

Additional reporting by Hannah Williams

FreshBooks
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FreshBooks

FreshBooksis a popular accounting software solutions platform, suited for smaller business owners to keep track of all transactions.

It includes expense tracking, invoicing, payment and accounting report features. This enables users to monitor cash flows easily.

FreshBooks offers an app-based platform, available on Android and iOS, as well as its desktop versions for users to choose from. These both include an invoice-to-payment process, removing the hassle tracking payment due dates, outstanding invoices and more.

Sage 50cloud
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Sage 50cloud

Sage 50cloudis an online accounting solution for small- to medium-sized businesses. It offers a range of features such as taxes, inventory, budgeting, cash flow and invoicing.

It also includes addons for credit card processing, payroll and other accounting features. For instance, its inventory and stock management addon allows users to automatically update stock levels, while using audits and stock valuations to manage assets.

Sage 50cloud's accounting data is synced between desktops and the app's cloud servers so the data can be accessible at all times. It integrates seamlessly with MSOffice and all data is backed up to ensure it's kept secure.

Xero
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Xero

Xerois accounting management software that helps businesses with money management and budgeting.

The software is designed with an easy-to-use dashboard interface, enabling users with minimal to no accounting knowledge to access the data easily.

It offers data entry and financial management, with added security features such as two-factor authentication to minimise the risk of financial fraud.

Xero also provides inventory management that includes processed payrolls and automatic input of transactions and taxes for users to keep track of.

FinancialForce Accounting
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FinancialForce Accounting

FinancialForce Accountingis Salesforce's cloud-based accounting platform. It provides an end-to-end solution for companies that wish to streamline workflows whilst minimising expenses.

The platform offers a range of expense management and budgeting features, such as general ledger to manage processes, streamlined accounts payable and receivable, and cash flow optimisation.

It also includes automated billing and ordering features to ensure manual tasks like spreadsheet data entry are kept to a minimum.

FinancialForce Accounting is also integrated with Salesforce CRM to allow all company team members to easily access one record system.

Adaptive Insights
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Adaptive Insights

Adaptive Insightsoffers budget planning, reporting and analysis in a cloud-based corporate performance management (CPM) tool. Self-service, interactive dashboards provide financial insights, which built-in analytics convert into graphs and charts.

Expenses, workforce, capital, revenue, sales capacity, quota, and territory management can all be modelled to the organisation's specific function, industry, or geography. Users can compare periods and drill down into source transactional data to understand the context, before taking action by re-planning and forecasting.

The software is available in both an Excel-based web application and as a pure Excel interface. It integrates with a wide variety of platforms, including Salesforce, Oracle,  NetSuite, Sage Intacct and MS Dynamics, as well as custom data sources from systems such as Excel, or other systems.

Quickbooks
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Quickbooks

Quickbooksis an accounting tool with some impressive budgeting features, including snapshots into financial performance, invoice tracking and customisable reporting.

Users can create budgets and purchase orders and track costs by project, location or budget, and invite an accountant or bookkeeper to collaborate on their accounts. Quickbooks can also automatically arrange income and expenses by integrating bank transactions and organising them into standard categories or sorting them based on previous actions.

Float
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Float

Floatis an online cash flow management tool for small businesses that connects with accounting software such as Xero, FreeAgent and QuickBooks to provide live financial forecasting and show all incoming and outgoing expenses.

The automatic updates allow businesses to check their finances in a glance at visual budget bars that compare objectives and performance, which can be adjusted as required. Users can also add transaction notes to remember when and why they set budgets or edited expected dates.

Coupa
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Coupa

Coupaproduces a selection of spend management cloud software including a budgeting tool that provides real-time visibility into a company's budget and orders to support informed decisions around spending and savings opportunities.

Budget orders are added into the process whenever items are charged against their budget. Rules can also be set up to alert users when a total spend exceeds a pre-determined amount.

Tagetik
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Tagetik

Tagetikoffers advanced financial intelligence for budgeting planning. Users can create reports as interactive dashboards or native Excel sheets that provide easy budgetary insights, forecast and model performance and create what-if scenarios to test financial assumptions.

The product includes a financial process workflow that manages the budgeting cycle, and pre-packaged industry-specific tools including calculation logic, double-entry accounting logic, unlimited currency and interest rate support.

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