Quick Overview
- 1#1: QuickBooks Online - Cloud-based accounting software for tracking financial transactions, invoices, expenses, and business records with robust reporting.
- 2#2: Xero - Online accounting platform that automates bookkeeping, payroll, and financial record management for small businesses.
- 3#3: Zoho Books - Affordable cloud accounting tool for invoicing, inventory tracking, and maintaining compliant financial records.
- 4#4: FreshBooks - User-friendly invoicing and accounting software focused on time tracking, expenses, and project-based record keeping.
- 5#5: Wave - Free accounting software for small businesses to manage receipts, invoices, and essential financial records.
- 6#6: DocuWare - Document management system for digitizing, archiving, and automating workflows for business records compliance.
- 7#7: M-Files - Intelligent information management platform using metadata to organize, secure, and retrieve records efficiently.
- 8#8: Laserfiche - Enterprise content management solution for capturing, processing, and managing records with automation and compliance features.
- 9#9: OnBase - Comprehensive enterprise information platform for record capture, storage, retrieval, and long-term archiving.
- 10#10: Box - Secure cloud content platform for collaborating on, sharing, and governing business records and documents.
We selected and ranked these tools based on key factors: robust feature sets, user-friendly design, consistent performance, and alignment with diverse business needs, ensuring they deliver exceptional value across different scales and industries.
Comparison Table
This comparison table helps readers identify the best record keeping software by featuring tools like QuickBooks Online, Xero, Zoho Books, FreshBooks, Wave, and more. By breaking down key features, usability, and pricing, it simplifies finding a solution tailored to specific needs, whether for small businesses or growing operations.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | QuickBooks Online Cloud-based accounting software for tracking financial transactions, invoices, expenses, and business records with robust reporting. | enterprise | 9.6/10 | 9.8/10 | 9.2/10 | 9.4/10 |
| 2 | Xero Online accounting platform that automates bookkeeping, payroll, and financial record management for small businesses. | enterprise | 9.2/10 | 9.5/10 | 8.8/10 | 8.5/10 |
| 3 | Zoho Books Affordable cloud accounting tool for invoicing, inventory tracking, and maintaining compliant financial records. | specialized | 8.7/10 | 9.2/10 | 8.5/10 | 8.8/10 |
| 4 | FreshBooks User-friendly invoicing and accounting software focused on time tracking, expenses, and project-based record keeping. | specialized | 8.4/10 | 8.1/10 | 9.2/10 | 8.0/10 |
| 5 | Wave Free accounting software for small businesses to manage receipts, invoices, and essential financial records. | other | 8.5/10 | 8.0/10 | 9.4/10 | 9.7/10 |
| 6 | DocuWare Document management system for digitizing, archiving, and automating workflows for business records compliance. | enterprise | 8.4/10 | 9.1/10 | 7.6/10 | 7.9/10 |
| 7 | M-Files Intelligent information management platform using metadata to organize, secure, and retrieve records efficiently. | enterprise | 8.3/10 | 9.2/10 | 7.4/10 | 8.0/10 |
| 8 | Laserfiche Enterprise content management solution for capturing, processing, and managing records with automation and compliance features. | enterprise | 8.4/10 | 9.2/10 | 7.8/10 | 8.0/10 |
| 9 | OnBase Comprehensive enterprise information platform for record capture, storage, retrieval, and long-term archiving. | enterprise | 8.1/10 | 9.2/10 | 6.8/10 | 7.4/10 |
| 10 | Box Secure cloud content platform for collaborating on, sharing, and governing business records and documents. | enterprise | 8.1/10 | 8.5/10 | 7.9/10 | 7.6/10 |
Cloud-based accounting software for tracking financial transactions, invoices, expenses, and business records with robust reporting.
Online accounting platform that automates bookkeeping, payroll, and financial record management for small businesses.
Affordable cloud accounting tool for invoicing, inventory tracking, and maintaining compliant financial records.
User-friendly invoicing and accounting software focused on time tracking, expenses, and project-based record keeping.
Free accounting software for small businesses to manage receipts, invoices, and essential financial records.
Document management system for digitizing, archiving, and automating workflows for business records compliance.
Intelligent information management platform using metadata to organize, secure, and retrieve records efficiently.
Enterprise content management solution for capturing, processing, and managing records with automation and compliance features.
Comprehensive enterprise information platform for record capture, storage, retrieval, and long-term archiving.
Secure cloud content platform for collaborating on, sharing, and governing business records and documents.
QuickBooks Online
enterpriseCloud-based accounting software for tracking financial transactions, invoices, expenses, and business records with robust reporting.
Intelligent rules-based transaction categorization and audit log for foolproof, compliant record accuracy
QuickBooks Online is a premier cloud-based accounting platform from Intuit, specializing in comprehensive record keeping for small to medium-sized businesses. It automates essential tasks like invoicing, expense tracking, bank reconciliations, and payroll, while providing real-time financial reports and customizable dashboards. With robust security and mobile accessibility, it ensures accurate, compliant record management from anywhere.
Pros
- Automated bank feeds and reconciliation for effortless transaction logging
- Advanced reporting tools with customizable templates for precise financial records
- Seamless integrations with over 750 apps for holistic record keeping
Cons
- Higher-tier plans can be expensive for basic record keeping needs
- Initial setup and learning curve for complex features
- Occasional performance lags with large datasets
Best For
Small to medium-sized businesses and accountants seeking scalable, automated record keeping with strong compliance features.
Pricing
Starts at $30/month (Simple Start) up to $200/month (Advanced), with a 30-day free trial.
Xero
enterpriseOnline accounting platform that automates bookkeeping, payroll, and financial record management for small businesses.
AI-powered bank reconciliation rules that learn and automate transaction matching for precise record keeping
Xero is a cloud-based accounting software tailored for small to medium-sized businesses, providing comprehensive tools for invoicing, bank reconciliation, expense tracking, and financial reporting to maintain accurate records. It automates transaction categorization and offers a detailed audit trail, ensuring compliance and easy access to historical data. With multi-currency support and real-time dashboards, Xero streamlines record keeping for growing teams.
Pros
- Automated bank feeds and reconciliation for efficient record updates
- Unlimited users and strong audit trail for collaborative record keeping
- Robust reporting and customizable dashboards for insights
Cons
- Pricing escalates quickly for advanced features like payroll
- Steeper learning curve for complex reconciliations
- Limited native inventory tracking without add-ons
Best For
Small to medium-sized businesses seeking automated, scalable financial record keeping with multi-user access.
Pricing
Plans start at $15/month (Early) for basic records, up to $100+/month (Ultimate) for full features; billed annually with 30-day free trial.
Zoho Books
specializedAffordable cloud accounting tool for invoicing, inventory tracking, and maintaining compliant financial records.
Automatic bank reconciliation with two-way sync for real-time, error-free financial record updates
Zoho Books is a cloud-based accounting platform tailored for small to medium-sized businesses, offering robust tools for invoicing, expense tracking, bank reconciliation, and financial reporting to maintain accurate financial records. It automates record-keeping tasks like transaction categorization and audit trails, ensuring compliance with standards such as GST, VAT, and multi-currency support. With customizable dashboards and over 50 integrations, it streamlines record management while providing real-time insights into business finances.
Pros
- Comprehensive automation for bank feeds, categorization, and reconciliation simplifies record keeping
- Detailed financial reports and audit logs ensure compliance and traceability
- Multi-user access with role-based permissions secures sensitive records
Cons
- Steeper learning curve for advanced features like inventory tracking
- Higher-tier plans required for unlimited records and advanced reporting
- Occasional delays in bank syncs can affect real-time record updates
Best For
Small to medium businesses needing scalable, automated record-keeping with strong reporting for compliance.
Pricing
Free plan for very small businesses; paid plans start at $20/org/mo (billed annually) for Standard, up to $275/org/mo for Ultimate.
FreshBooks
specializedUser-friendly invoicing and accounting software focused on time tracking, expenses, and project-based record keeping.
Mobile receipt capture and auto-matching to expenses for effortless record keeping on the go
FreshBooks is a user-friendly cloud-based accounting platform tailored for small businesses, freelancers, and service providers, focusing on invoicing, expense tracking, and basic bookkeeping. It supports record keeping through features like automated bank feeds, receipt capture via mobile app, expense categorization, and financial reporting tools to maintain organized financial records. While it handles core record-keeping tasks effectively, it lacks depth in advanced accounting like double-entry bookkeeping or inventory management compared to enterprise solutions.
Pros
- Intuitive interface ideal for non-accountants
- Excellent mobile app for receipt scanning and expense logging
- Automated bank reconciliation and transaction categorization
Cons
- Limited advanced reporting and analytics
- No support for inventory tracking or payroll
- Higher-tier plans required for unlimited clients and features
Best For
Freelancers and small service-based businesses needing simple, mobile-friendly expense and income record keeping.
Pricing
Lite ($19/mo, 5 clients), Plus ($33/mo, 50 clients), Premium ($60/mo, unlimited clients); annual billing offers 50% off first 6 months.
Wave
otherFree accounting software for small businesses to manage receipts, invoices, and essential financial records.
100% free unlimited accounting, invoicing, and basic reporting with no user or transaction limits
Wave is a cloud-based accounting platform tailored for small businesses, freelancers, and solopreneurs, providing free tools for invoicing, expense tracking, bank reconciliation, and generating essential financial reports like profit & loss and balance sheets. It excels in simple record keeping by automating transaction categorization and receipt scanning via mobile app. While it lacks depth for complex accounting, its no-cost model makes it accessible for basic bookkeeping needs.
Pros
- Completely free core accounting and unlimited invoicing
- Intuitive interface with automatic bank feeds and categorization
- Mobile app for receipt scanning and on-the-go record keeping
Cons
- Limited advanced reporting and customization options
- Transaction fees for payments (2.9% + $0.30)
- Support limited to email and self-help resources
Best For
Solopreneurs and very small businesses needing simple, cost-free financial record keeping without complex accounting requirements.
Pricing
Free for accounting, invoicing, and reports; Payments: 2.9% + $0.30 per credit card transaction; Payroll: $20 base + $6/active employee per month (US/CA).
DocuWare
enterpriseDocument management system for digitizing, archiving, and automating workflows for business records compliance.
Smart Indexing with AI and OCR for automatic categorization and metadata extraction from documents
DocuWare is a robust document management system (DMS) that enables organizations to digitize, store, index, and retrieve business records efficiently. It provides secure archiving, automated workflows, full-text search, and compliance features to meet standards like GDPR, HIPAA, and ISO 27001. With integration options for ERP and CRM systems, it streamlines record keeping across departments while ensuring audit trails and version control.
Pros
- Advanced full-text search and intelligent indexing for quick record retrieval
- Strong compliance tools with audit-proof storage and retention policies
- Scalable cloud and on-premise deployment with seamless integrations
Cons
- Complex initial setup and configuration requiring IT expertise
- High pricing that may not suit small businesses
- Steeper learning curve for non-technical users
Best For
Mid-sized to large enterprises needing compliant, scalable record management with workflow automation.
Pricing
Quote-based subscription starting at around $300/user/year for basic plans, scaling up to thousands for enterprise features and volumes.
M-Files
enterpriseIntelligent information management platform using metadata to organize, secure, and retrieve records efficiently.
Metadata-driven 'virtual filing' that organizes and retrieves records by content properties, not physical locations
M-Files is an intelligent document and records management platform that organizes files using metadata rather than traditional folder structures, enabling intuitive access and automation. It supports comprehensive records keeping with features like automated retention policies, audit trails, versioning, and compliance tools for regulations such as GDPR and HIPAA. AI-powered search and workflows enhance efficiency for managing unstructured information across organizations.
Pros
- Metadata-driven organization eliminates folder hierarchies for smarter file discovery
- Robust compliance and retention management with automated policies and e-signatures
- Strong integrations with Microsoft 365, ERP systems, and AI automation capabilities
Cons
- Steep learning curve for metadata modeling and initial setup
- Pricing can be costly for small teams or basic needs
- Customization requires IT expertise for complex deployments
Best For
Mid-to-large enterprises needing advanced records management, compliance, and metadata-based automation.
Pricing
Subscription-based starting at ~$12/user/month for basic plans, scaling to $50+/user/month for enterprise features; custom quotes required.
Laserfiche
enterpriseEnterprise content management solution for capturing, processing, and managing records with automation and compliance features.
Automated records lifecycle management with intelligent classification and evergreen retention schedules
Laserfiche is a comprehensive enterprise content management (ECM) platform specializing in document capture, workflow automation, and records management. It enables organizations to digitize records, enforce retention policies, apply legal holds, and generate detailed audit trails for compliance. With support for cloud and on-premise deployments, it integrates seamlessly with business systems to streamline record-keeping processes.
Pros
- Robust records retention and disposition automation with compliance certifications (e.g., DoD 5015.2)
- Powerful workflow engine for process automation
- Strong security features including granular permissions and audit logging
Cons
- Steep learning curve for configuration and customization
- Higher pricing may not suit small businesses
- On-premise version requires significant IT resources
Best For
Government agencies, healthcare providers, and large enterprises in regulated industries needing compliant, scalable records management.
Pricing
Quote-based; cloud starts at approximately $75/user/month, with on-premise perpetual licenses and additional modules extra.
OnBase
enterpriseComprehensive enterprise information platform for record capture, storage, retrieval, and long-term archiving.
DoD 5015.2-certified records management module for automated retention, disposition, and audit compliance.
OnBase is a robust enterprise content management (ECM) platform developed by Hyland, specializing in document capture, storage, retrieval, and lifecycle management for records keeping. It offers advanced records management features including retention policies, audit trails, compliance tools, and automated workflows to ensure regulatory adherence. The software integrates seamlessly with ERP, CRM, and other enterprise systems, making it ideal for handling high-volume, complex record environments.
Pros
- Comprehensive records retention and disposition automation with DoD 5015.2 certification
- Scalable for enterprise-level document volumes and multi-site deployments
- Powerful search, indexing, and integration capabilities with business applications
Cons
- Steep learning curve and complex initial setup requiring significant IT resources
- High upfront implementation and customization costs
- Overly complex for small to mid-sized organizations with simpler needs
Best For
Large enterprises in regulated industries like healthcare, finance, and government needing advanced compliance and records lifecycle management.
Pricing
Quote-based enterprise pricing, typically starting at $50,000+ annually based on users, modules, and deployment scale.
Box
enterpriseSecure cloud content platform for collaborating on, sharing, and governing business records and documents.
Box Governance for automated records retention, legal holds, and defensible disposition
Box is a secure cloud content management platform designed for storing, sharing, and collaborating on files across teams. As a record keeping solution, it offers version history, granular permissions, retention policies, and compliance tools like legal holds to manage document lifecycles effectively. It supports integrations with over 1,400 apps, enabling seamless workflows for enterprise record management.
Pros
- Robust security and compliance certifications (e.g., SOC 2, HIPAA)
- Unlimited version history and retention policies for long-term records
- Strong collaboration and workflow automation tools
Cons
- Pricing escalates quickly for advanced governance features
- Steeper learning curve for complex enterprise configurations
- Less specialized for pure records management compared to dedicated ECM tools
Best For
Mid-to-large enterprises in regulated industries needing secure, scalable cloud storage with compliance-focused record keeping.
Pricing
Business Starter at $5/user/month (limited); Business at $15/user/month; Business Plus at $25/user/month; Enterprise custom pricing.
Conclusion
The reviewed tools span a range of record-keeping needs, from cloud-based accounting to enterprise content management. At the top is QuickBooks Online, celebrated for its comprehensive financial tracking, reporting, and versatility. Xero and Zoho Books stand out as strong alternatives, with Xero excelling in automation and Zoho impressing with affordability, making them ideal for specific business priorities. Each tool caters to different sizes and needs, ensuring a suitable option for nearly every organization.
Kickstart efficient record keeping by trying QuickBooks Online—its robust features can transform how you manage financial and business records, tailored to power your operations.
Tools Reviewed
All tools were independently evaluated for this comparison