Quick Overview
- 1#1: QuickBooks Online - Cloud-based accounting software with inventory tracking, sales tax management, invoicing, and reporting optimized for retail shops.
- 2#2: Xero - User-friendly cloud accounting platform offering bank reconciliation, inventory management, multi-location support, and retail-specific reporting.
- 3#3: Lightspeed Retail - Retail POS and accounting system with advanced inventory control, purchase orders, e-commerce integration, and financial reporting.
- 4#4: Zoho Books - Affordable online accounting tool featuring inventory tracking, automated invoicing, sales analysis, and multi-channel retail support.
- 5#5: Sage 50 - Desktop accounting software with robust inventory management, job costing, purchase orders, and industry-specific features for retail.
- 6#6: Square for Retail - POS-integrated accounting solution for tracking sales, inventory, payments, and expenses in small retail shops.
- 7#7: Cin7 - Inventory and accounting platform designed for multi-channel retail with order management, stock control, and financial integrations.
- 8#8: MYOB Business - Cloud accounting software with inventory tracking, payroll, BAS/GST reporting, and retail sales management for small businesses.
- 9#9: Wave - Free cloud-based accounting app providing invoicing, expense tracking, receipt scanning, and basic inventory for small retail shops.
- 10#10: Revel Systems - iPad POS system with built-in accounting features for sales reporting, inventory management, and loyalty programs in retail environments.
Tools were selected based on alignment with retail-specific needs, including features like inventory management and sales tax oversight, alongside usability, reliability, and overall value to small and growing businesses.
Comparison Table
Retail shop accounting software simplifies financial workflows, from inventory tracking to sales management, and the included tools—such as QuickBooks Online, Xero, Lightspeed Retail, Zoho Books, Sage 50, and others—cater to varied business needs. This comparison table outlines key features, pricing models, and suitability, guiding readers to select the right tool for their retail operations, whether focusing on small-scale efficiency or multi-location scaling.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | QuickBooks Online Cloud-based accounting software with inventory tracking, sales tax management, invoicing, and reporting optimized for retail shops. | enterprise | 9.4/10 | 9.6/10 | 8.9/10 | 9.1/10 |
| 2 | Xero User-friendly cloud accounting platform offering bank reconciliation, inventory management, multi-location support, and retail-specific reporting. | enterprise | 8.8/10 | 8.5/10 | 9.2/10 | 8.7/10 |
| 3 | Lightspeed Retail Retail POS and accounting system with advanced inventory control, purchase orders, e-commerce integration, and financial reporting. | specialized | 8.6/10 | 9.1/10 | 8.2/10 | 8.0/10 |
| 4 | Zoho Books Affordable online accounting tool featuring inventory tracking, automated invoicing, sales analysis, and multi-channel retail support. | enterprise | 8.6/10 | 8.4/10 | 9.1/10 | 9.2/10 |
| 5 | Sage 50 Desktop accounting software with robust inventory management, job costing, purchase orders, and industry-specific features for retail. | enterprise | 7.6/10 | 8.2/10 | 6.8/10 | 7.1/10 |
| 6 | Square for Retail POS-integrated accounting solution for tracking sales, inventory, payments, and expenses in small retail shops. | specialized | 7.8/10 | 7.5/10 | 9.5/10 | 9.0/10 |
| 7 | Cin7 Inventory and accounting platform designed for multi-channel retail with order management, stock control, and financial integrations. | specialized | 8.2/10 | 9.1/10 | 7.4/10 | 7.7/10 |
| 8 | MYOB Business Cloud accounting software with inventory tracking, payroll, BAS/GST reporting, and retail sales management for small businesses. | enterprise | 7.9/10 | 7.7/10 | 8.2/10 | 7.6/10 |
| 9 | Wave Free cloud-based accounting app providing invoicing, expense tracking, receipt scanning, and basic inventory for small retail shops. | other | 7.1/10 | 6.3/10 | 9.4/10 | 9.6/10 |
| 10 | Revel Systems iPad POS system with built-in accounting features for sales reporting, inventory management, and loyalty programs in retail environments. | specialized | 7.9/10 | 8.2/10 | 8.5/10 | 7.4/10 |
Cloud-based accounting software with inventory tracking, sales tax management, invoicing, and reporting optimized for retail shops.
User-friendly cloud accounting platform offering bank reconciliation, inventory management, multi-location support, and retail-specific reporting.
Retail POS and accounting system with advanced inventory control, purchase orders, e-commerce integration, and financial reporting.
Affordable online accounting tool featuring inventory tracking, automated invoicing, sales analysis, and multi-channel retail support.
Desktop accounting software with robust inventory management, job costing, purchase orders, and industry-specific features for retail.
POS-integrated accounting solution for tracking sales, inventory, payments, and expenses in small retail shops.
Inventory and accounting platform designed for multi-channel retail with order management, stock control, and financial integrations.
Cloud accounting software with inventory tracking, payroll, BAS/GST reporting, and retail sales management for small businesses.
Free cloud-based accounting app providing invoicing, expense tracking, receipt scanning, and basic inventory for small retail shops.
iPad POS system with built-in accounting features for sales reporting, inventory management, and loyalty programs in retail environments.
QuickBooks Online
enterpriseCloud-based accounting software with inventory tracking, sales tax management, invoicing, and reporting optimized for retail shops.
Advanced inventory tracking with automatic stock adjustments, reorder points, and multi-channel sales reconciliation
QuickBooks Online is a leading cloud-based accounting platform tailored for small to medium-sized businesses, including retail shops, offering end-to-end financial management. It excels in inventory tracking, point-of-sale integrations, sales tax automation, invoicing, expense management, and customizable reporting to streamline retail operations. With real-time data access and mobile apps, it supports multi-location retail setups and provides actionable insights for growth.
Pros
- Robust inventory management with real-time tracking, low-stock alerts, and bundle support ideal for retail
- Seamless integrations with POS systems like Square, Shopify, and Lightspeed for unified sales data
- Comprehensive reporting and analytics, including profit/loss by item and location-specific insights
Cons
- Advanced retail features like multi-location inventory require higher-tier plans
- Steeper learning curve for complex customizations despite intuitive interface
- Customer support can be inconsistent, relying heavily on self-help resources
Best For
Small to medium retail shop owners needing scalable accounting with strong inventory and POS integration.
Pricing
Starts at $30/month (Simple Start) up to $200/month (Advanced); annual discounts available, 30-day free trial.
Xero
enterpriseUser-friendly cloud accounting platform offering bank reconciliation, inventory management, multi-location support, and retail-specific reporting.
Deep integrations with over 1,000 apps, including key retail POS systems for automated sales and inventory syncing.
Xero is a cloud-based accounting software tailored for small to medium businesses, including retail shops, with features like invoicing, bank reconciliation, expense tracking, and basic inventory management. It integrates seamlessly with popular POS systems such as Square, Shopify, and Lightspeed Retail, automating sales data import and stock updates. Retail users benefit from real-time reporting on sales, profitability, and cash flow, making it easier to track performance across multiple channels.
Pros
- Excellent integrations with POS and e-commerce platforms
- Real-time bank feeds and automated reconciliations
- User-friendly interface with mobile app support
Cons
- Inventory management is basic without paid add-ons
- Pricing tiers can become expensive for larger retail operations
- Limited advanced retail features like lot tracking natively
Best For
Small to medium retail shops needing robust accounting with strong POS integrations and scalable cloud access.
Pricing
Starter plan at $20/month, Standard at $37/month, Premium at $70/month (annual billing; per organization, unlimited users).
Lightspeed Retail
specializedRetail POS and accounting system with advanced inventory control, purchase orders, e-commerce integration, and financial reporting.
Matrix inventory for handling complex product variants with automatic accounting adjustments
Lightspeed Retail is a cloud-based POS and retail management platform tailored for brick-and-mortar and omnichannel retailers, providing essential accounting features like financial reporting, sales reconciliation, and inventory valuation. It integrates deeply with accounting tools such as QuickBooks Online and Xero to automate bookkeeping, expense tracking, and tax compliance. While not a full-fledged accounting suite, it excels in bridging retail operations with financial oversight for efficient shop management.
Pros
- Robust inventory tracking with real-time valuation and COGS reporting
- Seamless integrations with QuickBooks, Xero, and other accounting software
- Comprehensive financial dashboards and customizable reports for retail insights
Cons
- Pricing scales quickly for multi-location setups
- Native accounting lacks depth compared to dedicated tools like QuickBooks
- Initial setup and customization require some technical expertise
Best For
Multi-location retail shops needing integrated POS, inventory, and accounting sync for streamlined financial operations.
Pricing
Starts at $69/month per location (Lean plan, annual billing), up to $149/month (Advanced); additional costs for hardware, e-commerce, and premium add-ons.
Zoho Books
enterpriseAffordable online accounting tool featuring inventory tracking, automated invoicing, sales analysis, and multi-channel retail support.
Real-time multi-location inventory tracking integrated with sales and purchases
Zoho Books is a cloud-based accounting platform tailored for small to medium-sized businesses, including retail shops, offering invoicing, expense tracking, bank reconciliation, and basic inventory management. It supports retail-specific needs like item tracking, purchase orders, sales orders, and multi-location inventory to streamline stock and financial operations. With robust reporting, automation, and integrations with e-commerce platforms, it helps retail owners monitor profitability and cash flow in real-time.
Pros
- Intuitive, modern interface with mobile app support
- Strong automation for invoicing and bank feeds
- Seamless integrations with Zoho ecosystem and e-commerce tools
Cons
- Basic inventory lacks advanced POS features without add-ons
- Higher-tier plans needed for multi-currency and advanced reporting
- Customer support response times can vary
Best For
Small to medium retail shops needing affordable, scalable accounting with inventory basics and CRM integration.
Pricing
Free for < $50K annual revenue; paid plans from $20/org/month (Standard) to $275/org/month (Ultimate), billed annually.
Sage 50
enterpriseDesktop accounting software with robust inventory management, job costing, purchase orders, and industry-specific features for retail.
Advanced inventory management with bill of materials, assemblies, and serial/lot tracking for precise retail stock control
Sage 50 is a robust desktop-based accounting software tailored for small to medium-sized businesses, including retail shops, offering core features like general ledger, accounts receivable/payable, invoicing, and inventory management. It supports sales order processing, purchase orders, and basic point-of-sale integration capabilities, making it suitable for back-office retail accounting. While it provides strong financial reporting and compliance tools, it lacks advanced modern retail POS functionalities found in specialized solutions.
Pros
- Comprehensive inventory tracking with assemblies, serial, and lot numbering
- Powerful financial reporting and customization options
- Integrated payroll and job costing for multi-faceted retail operations
Cons
- Primarily desktop-based with limited cloud mobility
- Steep learning curve for non-accountants
- Higher pricing without built-in advanced POS for high-volume retail
Best For
Established small to mid-sized retail shops prioritizing detailed back-office accounting and inventory control over front-end POS speed.
Pricing
One-time purchase from $589 (Pro) to $1,807 (Quantum) per user, plus $399-$999 annual support; subscription options start at $55/month.
Square for Retail
specializedPOS-integrated accounting solution for tracking sales, inventory, payments, and expenses in small retail shops.
Unified dashboard syncing payments, sales, and inventory across devices in real-time
Square for Retail is a point-of-sale (POS) system tailored for brick-and-mortar retail shops, providing seamless payment processing, inventory management, and real-time sales reporting. It tracks sales transactions, stock levels, and generates basic financial summaries like profit and loss statements, with easy exports to accounting tools like QuickBooks. While strong in front-end retail operations, it functions more as a sales hub than a full-fledged accounting software, requiring integrations for advanced bookkeeping.
Pros
- Exceptionally user-friendly interface with mobile app support
- Real-time inventory tracking and low-stock alerts
- Free core POS software with no monthly fees for basics
Cons
- Lacks advanced accounting like AR/AP or general ledger
- Transaction fees can accumulate for high-volume shops
- Reporting is transaction-focused, not double-entry compliant
Best For
Small to medium retail shops needing simple sales tracking, inventory management, and basic accounting reports integrated with POS.
Pricing
Free for core POS and inventory; Retail Plus $60/month per location; 2.6% + 10¢ per in-person transaction, hardware sold separately.
Cin7
specializedInventory and accounting platform designed for multi-channel retail with order management, stock control, and financial integrations.
Real-time, three-way stock syncing across POS, e-commerce, and marketplaces with automatic accounting journal exports
Cin7 is a cloud-based inventory management and POS platform designed for retail businesses, offering real-time stock tracking, multi-channel order management, and seamless integrations with accounting software like Xero and QuickBooks. It automates purchase orders, sales processing, and inventory valuation to support accurate retail accounting without replacing core bookkeeping tools. While not a standalone accounting solution, it excels in bridging operations and financials for shops with complex inventory needs.
Pros
- Robust multi-channel inventory syncing that feeds accurate data to accounting systems
- Advanced reporting on stock value, margins, and sales for retail financial insights
- Strong automation for POs, stock takes, and B2B wholesale accounting
Cons
- Relies heavily on integrations for full accounting functionality, not standalone
- Steep learning curve for non-tech-savvy retail users
- Premium pricing may not suit very small shops
Best For
Growing multi-channel retail shops needing integrated inventory and accounting sync for efficient financial tracking.
Pricing
Starts at $349/month for Cin7 Core (up to 500 orders), scales to $749+/month for Omni with unlimited orders; custom quotes for enterprises.
MYOB Business
enterpriseCloud accounting software with inventory tracking, payroll, BAS/GST reporting, and retail sales management for small businesses.
Automated BAS preparation and direct lodgement with the Australian Taxation Office
MYOB Business is a cloud-based accounting software designed primarily for small to medium businesses in Australia and New Zealand, offering core features like invoicing, expense tracking, bank reconciliation, payroll, and basic inventory management. For retail shops, it provides tools for sales tracking, stock monitoring, and GST-compliant reporting, making it suitable for back-office accounting needs. While it integrates with some POS systems, it focuses more on financial management than front-end retail operations.
Pros
- Strong Australian tax compliance including GST, BAS, and superannuation
- User-friendly interface with mobile app for on-the-go access
- Solid inventory tracking and basic multi-location support for retail
Cons
- No built-in POS system, requiring third-party integrations
- Limited advanced retail analytics compared to specialized POS software
- Pricing can escalate quickly for full feature access
Best For
Australian retail shop owners needing compliant accounting software with inventory basics and payroll integration.
Pricing
Starts at around $30 AUD/month for essentials, scaling to $100+ AUD/month for advanced plans with payroll and inventory.
Wave
otherFree cloud-based accounting app providing invoicing, expense tracking, receipt scanning, and basic inventory for small retail shops.
Unlimited free accounting with no caps on invoices, customers, or users
Wave is a cloud-based, free accounting software primarily designed for small businesses, offering core features like invoicing, expense tracking, bank reconciliation, financial reporting, and receipt scanning. It supports unlimited customers and invoices without any subscription fees for basic accounting. However, it lacks specialized retail tools such as inventory management, point-of-sale (POS) integration, or advanced sales analytics, making it more general-purpose than tailored for retail shops.
Pros
- Completely free core accounting and unlimited invoicing
- Intuitive, beginner-friendly interface with mobile app support
- Automatic bank feeds and receipt scanning for easy expense tracking
Cons
- No built-in inventory management or tracking
- Lacks POS integration or retail-specific sales tools
- Limited advanced reporting and customization for retail analytics
Best For
Solo owners or very small retail shops with basic invoicing and expense needs who prioritize free, simple accounting over retail-specific features.
Pricing
Free for accounting, invoicing, and reports; 2.9% + 30¢ per credit card transaction; payroll from $20/mo + $6/active employee.
Revel Systems
specializediPad POS system with built-in accounting features for sales reporting, inventory management, and loyalty programs in retail environments.
Real-time multi-location inventory visibility and automated reordering
Revel Systems is a cloud-based POS platform tailored for retail shops, providing inventory management, sales tracking, and detailed reporting to support accounting functions. It excels in real-time data syncing and integrates with accounting tools like QuickBooks and Xero for seamless financial reconciliation. While not a standalone accounting software, it streamlines retail-specific accounting tasks like cost tracking and profit analysis.
Pros
- Robust inventory management with real-time tracking
- Seamless integrations with major accounting software
- Comprehensive sales and financial reporting dashboards
Cons
- Subscription pricing can be expensive for small shops
- Requires iPad hardware investment
- Limited native advanced accounting features like payroll
Best For
Small to mid-sized retail shops seeking an integrated POS system with strong accounting support for inventory and sales data.
Pricing
Starts at $99/month per location (Essentials plan) plus hardware; higher tiers up to $599/month with custom enterprise options.
Conclusion
Among the reviewed tools, the top three—QuickBooks Online, Xero, and Lightspeed Retail—emerge as leaders, each excelling in key areas like inventory tracking, reporting, and integration. QuickBooks Online stands out as the top choice, ideal for its all-encompassing features tailored to retail operations. Xero and Lightspeed Retail follow closely, offering robust solutions for diverse needs, from user-friendliness to advanced e-commerce integration.
Begin streamlining your retail accounting today by exploring the top-ranked option, QuickBooks Online, to simplify management and focus on growing your business.
Tools Reviewed
All tools were independently evaluated for this comparison