The 15 Best Financial Reporting Software for 2026

The good news: There are a ton of financial reporting software for small business owners. The less fun news: Sorting through it can be…a lot. 

In this guide to the best financial reporting tools of 2026, we’ll take you through this year’s top contenders for professional financial reporting tools and their reporting processes, including the tools they offer, their prices, and how they compare for different sizes of business. We’ll also explore a quick guide for choosing your financial reporting software and enhancing your financial analysis so you can skip the endless search and get straight to streamlining your business.

🌟 KEY TAKEAWAYS

Different types of financial reporting software feature different tools and goals.

To choose the right software, consider tools, scalability, price, and trial options.

FreshBooks is the best financial reporting software solution for small to medium-sized businesses.

15 best financial reporting software platforms

These 15 financial reporting tools make up our top software options of the year. Discover their pros and cons to find the right accounting reporting software for your business and improve your financial performance.

Best financial reporting software for small businesses

If there were an award for generating small business financial reports, these software options would take it every time. 

1. FreshBooks 

Looking for an all-in-one solution for managing your small business finances? FreshBooks has got you covered with a range of financial reporting solutions, like profit-and-loss reports, sales tax summary reports, general ledgers, trial balances, and charts of accounts. 

It’s not just about having (a lot) of great financial reporting tools—FreshBooks also includes color-coded spending breakdowns, easy-to-edit invoices and proposals, customizable reports, and automated reporting so you can easily view key metrics and get real-time insights for informed decision making.
This intuitive design makes it an ideal fit for freelancers, solopreneurs, and service-based businesses looking to minimize administrative overhead. It allows you to skip the complex accounting jargon and focus entirely on your client work.
Basically, FreshBooks is a straightforward, comprehensive tool for streamlining your financial reporting process without all the manual data entry.
Ready to start boosting productivity? Try FreshBooks for free and discover the benefits of flexible financial reporting software.

2. Xero

Some of Xero’s key benefits include up-to-date accounting reports that you can easily customize, as well as quick invoice generation and bank account syncing. 

However, a lot of the more advanced tools, like profitability and expense tracking, are only available in the higher-priced plans. You also can’t add multiple users or access live support, which can make it difficult for small businesses with multiple team members who need collaboration tools in their financial processes.

Learn more about how FreshBooks financial reporting software compares to Xero on our FreshBooks vs. Xero page.

3. Wave

Wave is a popular option for basic accounting and invoicing thanks to its free starting plan. However, basic can mean really basic here—we’re talking manually entering all your expenses, payments, and invoice generation. If you want any additional features, like mobile receipts or payment processing, you’ll have to pay for these features as an add-on. 

Add-on costs range from monthly subscriptions (mobile receipts for $8 USD per month and payroll from $40 USD per month) to pay-per-use systems, where you pay a percentage of every transaction when you accept a payment. If you need to accept a steady flow of payments, these costs can add up quickly.

Learn more about how FreshBooks financial reporting software compares to Wave on our FreshBooks vs. Wave page.

4. Jirav

Jirav is a helpful starter software for small and medium-sized businesses that want to improve their financial reporting. It helps generate financial and management reports, track spending and compare it to your budget, and use customized dashboards to boost workflow. Its advantages include a user-friendly interface and a quick set-up, while its downside is that it’s not particularly scalable if you plan to grow your business. The tradeoff for the straightforward system is that it doesn’t include as many advanced tools.

Best financial reporting software for mid-market companies

When you’re growing from a small business to an established company, you need financial reporting software that can grow with you. From more complex reporting to automated workflows for your finance teams, smooth the transition with scalable software that’s made for exactly where you are in the market.

5. QuickBooks

QuickBooks offers a variety of core financial reports, including expense reports, profit-and-loss reports, custom reports, and balance sheets. You can also get a snapshot of your business with the customer balance summary and accounts receivable aging summary. 

The downside is that many of its most useful features, like customized professional reports and the project profitability tool, are only available on the higher-tier pricing plans, which means you may end up paying more for full-service accounting features. Many users also report that QuickBooks can be tricky to learn, increasing setup time for new users. 

Learn more about how FreshBooks compares to QuickBooks on our FreshBooks vs. QuickBooks page.

6. Cube

Cube’s strength favors financial planning and analysis. It offers a variety of forecasting and budgeting tools, as well as plenty of integrations for billing and invoicing. However, its primary purpose isn’t financial reporting, so it has limited report generation and doesn’t have as many automation tools.

7. Jedox

Jedox is an efficient blend of planning and reporting features with a helpful dash of automation. It includes templates for profit-and-loss statements and cash flow statements, as well as automated reports and real-time dashboards. It offers scalability and customization, although the setup takes a bit more time, and you’ll pay a premium for any advanced features.

Best financial reporting software for big businesses

Whether you’re already at the corporate enterprise mark or you’re on your way, these financial reporting software solutions are ready to grow with you.

8. Sage50 Accounting

The TL;DR overview: effective, but pricey. You’ll get a full suite of effective tools for data visualization and financial reporting, plus invoice tracking, transaction records, accepting payments, and some automated administration. It’s also a strong contender for businesses that plan to scale up, since Sage50 can grow well with larger businesses.

That being said, Sage50 Accounting’s pricing also reflects the fact that it’s geared toward larger businesses. Plans start at $58.92 USD per month for basic accounting with one user, and range up to $160 USD per month for the full system (still limited to one user). It’s also got a steeper learning curve. Overall, it’s a better fit for medium businesses with at least one dedicated accounting pro.

9. Workiva

Workiva is a great option for larger businesses that want to improve their high-level reporting and communication. It’s especially good for demonstrating progress in environment, social, and governance (ESG) goals, and for improving reporting and compliance. It’s more geared toward reporting compared to daily bookkeeping, which typically makes it a better solution for enterprise-level organizations.

Best financial reporting software for new users

New to the world of financial reporting software? Have no fear—these accessible options are straightforward enough for the whole team to get the hang of. 

10. Workday Adaptive Planning

Workday is a straightforward, intuitive system for generating financial reports. You can create and customize different reports for your business, then share them through the cloud-based system. It works seamlessly with other Workday HR and finance products. However, users report that additional integrations and real-time data reporting are limited. It also doesn’t offer transparent pricing, so users have to request a quote to estimate their costs.

11. Datarails

Datarails is essentially a tool for taking your Excel reporting to the next level. It automates your Excel reporting at the end of each financial period, reducing manual error and boosting efficiency by consolidating your financial data. It also integrates well with other software like QuickBooks and Xero. However, it relies primarily on Excel to do its job, and doesn’t offer a ton of features beyond Excel-oriented reporting.

12. Zoho Books

Zoho helps you generate a range of financial reports, including balance sheets, cash flow, tax reports, and profit-and-loss statements. It’s straightforward, customizable, and includes plenty of automations, but you’ll need a higher-priced plan to access advanced features.

Bonus: FreshBooks

While FreshBooks has already found a spot on this list, the user-friendly software deserves a special callout here as well. Users consistently praise FreshBooks for being easy to use and simplifying complex financial reporting—making it a smooth and stress-free option for generating key financial reports and building a strong financial foundation for your business.

Best financial reporting software for accountants and experienced users 

For the pros out there, these financial reporting software deliver robust features for experienced users and accounting experts.

13. Oracle NetSuite

Oracle NetSuite includes a variety of financial management tools, from general ledger and accounts features to financial reporting, to help meet your IRS requirements. However, putting together your plan (and estimating costs) isn’t very transparent. You’ll need to contact Oracle for a custom quote, then build a system by picking different modules. 

14. Vena Solutions

While Vena offers some basic bookkeeping features, it’s better geared for businesses seeking budgeting and forecasting tools. One of its strengths is effective integrations, especially with Microsoft 365, as well as template collaborations. Pricing is by request and requires potential users to participate in a tailored demo due to the steeper learning curve for this software.

15. Planful

Planful is an automation tool designed to reduce manual errors and cut down on time spent uploading and processing bookkeeping information. It’s great as a time-saving tool for basic accounting tasks like generating and delivering financial reports. It also includes AI alerts that flag unusual transactions, which can help catch errors and potential fraud. However, those AI tools need to be trained, which means Planful has a longer learning curve than many other reporting software and also requires a demo to get set up.

Comparison of financial reporting software based on business size

Choosing the right financial reporting solution isn’t just about tools and features; it’s also about finding a system that grows with you. In this table, we’ll break down how each tool aligns with different business sizes so you can find the one that fits your needs.

Types of financial reporting software

Not all financial reporting software delivers the same tools. Different systems are built for a wide range of goals, from streamlining your everyday accounting to helping you plan your future business strategy. Let’s explore the different types of financial reporting software and how each one can serve your business.

Accounting software

Accounting software helps you track, categorize, and report the financial details of your business. It’s designed to simplify your office processes and get rid of paper documents so you can finally say goodbye to the shoebox full of receipts.

There are 3 main types of accounting software: enterprise resource planning (ERP), billing and invoicing, and payroll management. ERP tools generally include payroll management, billing, and invoicing. While some software focuses on just one of these tools, FreshBooks offers a basket of features to support multiple accounting software goals.

The right accounting software can also depend on your business’s specific accounting system and financial activities.

Invoicing and payment software

Invoice and payment software are often separate from other types of accounting software. Their main purpose is to create invoices and give you different ways to accept payments online. In most cases, the best solution is an integrated invoicing software that syncs with your existing systems and lets you automate time-consuming tasks like payment processing. Plus, they can offer real-time reporting to give you an easy, at-a-glance look at your funds and financial information.

Tax management software

Tax management software helps streamline tax time so you can skip the end-of-year crunch. The automated processes also reduce the risk of human error and maintain audit trails, since your software assistant will never get tired of running the numbers.

Tax management software can take the guesswork out of pricing, billing, and payroll through location-specific and item-specific tax addition. It can also help with tax reporting and regulatory compliance, reducing the stress of a potential audit.

Budgeting software

The success of any business relies on a realistic picture of your overhead, market share, and pricing. Using budgeting software can help you create your business’s budget so you can easily stay on top of your finances.

Proposal software

Proposal software features help you create professional and compelling proposals to share with investors, stakeholders, and other members of your team. This helps boost transparency and build trust for your business.

You can also use proposal software to create and share project proposals with potential clients. With FreshBooks, you can then automatically convert successful proposals into invoices for a clear, streamlined payment process.

Financial planning software

When you want to develop a financial strategy for your business, financial planning software can help. It’s different from budgeting software in that it takes a broad approach to evaluating your business and goals. Financial planning software uses the profit-and-loss report, the balance sheet, and cash flow to assess business performance and plan and analyze a financial strategy. 

Financial statement software

You can use financial statement software to track your financial status. This type of software can provide forecasting tools, generate financial statements, and analyze financial data. If this sounds a little dry, we get it. But trust us, it’s way better to automate your financial tracking than to sift through this yourself. Financial statement software simplifies your data collection, prepares it for analysis, and helps boost efficiency and accuracy.

Just a few of the statements it can handle are:

SEC reporting software

The Securities and Exchange Commission (SEC) enforces the law against market manipulation. It requires publicly listed companies to submit regular filings to provide transparency and information to analysts, investors, and regulators. SEC reporting software automates this process by helping you prepare and file your SEC reports.

Without SEC reporting software, a business must use the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system, which is significantly more labor-intensive and time-consuming. So, this one isn’t exactly optional, but it is important (and helpful).

Financial consolidation software

As your business grows and your income streams diversify, you may want to add financial consolidation software to your business toolkit. This software takes data from different ledgers and consolidates it into one clean, easy-to-use system. You’ll get a whole picture of your financial situation while saying goodbye to a hectic mess of different Excel sheets.

How to choose the right financial reporting software

With so many software contenders, it can be tough to filter through the digital noise. These factors can help you choose the best small business financial reporting system for your company.

Start your search by narrowing down the type of financial reporting software you need. If you’re a small business or just starting out, it’s best to begin with the basics, like general-purpose accounting software. This provides high value in terms of time and energy saved on everyday tasks, and typically covers the basics of budgeting and forecasting. Then you can upgrade or add additional software as you grow.

For larger businesses, your accountant or bookkeeper can offer guidance on what makes the most sense for your business. It’s also important to consider integrations. For example, if you need multiple different tools or types of financial reporting software, look for a system that either offers everything you need or easily integrates with other software systems.

Looking for software that does a little bit of everything? FreshBooks is a great option for small business owners who want a range of tools without the complexity of big business software systems.

Next, match potential software to your business size. Look for something with a pricing plan that fits your current needs while also offering options for scalability so that your financial software can grow alongside your business.

Browse different pricing plans and find a software that offers everything you need (but no unnecessary extras). Check for essentials like how many team members are included on the plan, whether they offer things like unlimited invoices, and any other sneaky markups that can quickly drive up the price.

The best way to know if you’ll like a financial reporting software is to try it out! Many financial reporting and small business software, like FreshBooks, offer a free trial so you can explore great features before you pay. This is an easy, flexible way to try new tools and make sure they fit your company’s needs.

Pricing of financial reporting software

Not all financial reporting software is created (or priced) equally. Look for software with plans that include the features you need with no hidden fees or extra costs. Free trials are a great way to explore the different features and make sure they fit your needs before you commit to a subscription.

Streamline your accounting with the right financial reporting software

Modern small businesses run on a steady flow of data, from the invoices you send to clients to the receipts you upload for your business expenses. Choosing the right financial reporting software is an efficient way to simplify this process so you can trade pen-and-paper records for quick and accurate automation. 

FreshBooks is a comprehensive solution that’s ideal for small and medium-sized businesses. It offers a host of tools for invoicing, expense tracking, and generating financial reports. 
Try FreshBooks for free to discover how professional reporting features can simplify your accounting and help boost your business today.

Frequently Asked Questions

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