Table of Contents
The best accounting software for midsize business in 2023 includes not just ERP systems or accounting software for mid-size business bookkeeping, but also finance automation software that streamlines accounting-related business processes and increases efficiency. This extension of the accounting software category includes advanced AP automation for payables, global partner payments software, and other finance automation software.
Gartner, a software rating business, defines midsize enterprise business as an organization with 100 to 999 employees or at least $50 million but less than $1 billion in revenue. Review our lineup of top accounting software for midsize business.
The following table summarizes 6 best accounting software solutions for midsize businesses in 2023.
|Accounting Software||Target Market||Scalability||Use Case|
|Tipalti||Midsize to enterprise companies and small businesses with high growth potential||Yes||Best for AP automation and global partner payments|
|NetSuite||Midsize to enterprise companies||Yes||Best for global mid-size companies with expansion|
|Sage Intacct||Companies of all sizes from 5 to 2,000 employees||Yes||Best for GAAP compliance and multi-dimensional report views|
|Microsoft Dynamics 365||Companies of all sizes||Yes||Best for companies using other Microsoft software solutions for integration with Microsoft Dynamics 365|
|Acumatica||Small and mid-size businesses (SMB)||Yes||Best for user experience and unlimited number of users pricing model|
|Infor||Midsize and enterprise companies||Yes||Best for industry-specific ERP/Financial software and Advanced Analytics|
Best for AP Automation and Global Partner Payments
Why is Tipalti good for midsize businesses?
Tipalti add-on cloud-based software integrates with your ERP (enterprise resource planning) or accounting software. Tipalti AP automation, global partner payments, and purchase order management software is good for midsize businesses because it’s scalable for growth and streamlines global finance and accounting processes relating to payables and POs. Tipalti end-to-end payables automation software can increase efficiency by 80%, limiting the number of new staff hires required. That’s cost savings and gives your business the ability to shift to higher value work.
With Tipalti, you achieve digital transformation by eliminating paper invoices and manual data entry processes for invoice processing with automation. You could reduce your payment error rate by 66% and reduce fraud risks with stronger financial controls and screening. Tipalti helps your business automatically achieve global regulatory compliance, including AML (anti-money laundering) and KYC (Know Your Customer).
Tipalti provides a white-branded supplier portal that’s self-service for supplier onboarding, including collecting supplier W-9 or W-8 forms, capturing preferred payment methods and information, and tracking invoiced supplier payments for 1099 NEC-and 1099-MISC preparation and filing. If your business buys optional Tax1099 software, you can automatically eFile 1099-NEC (for freelancer and independent contractor nonemployee compensation) and 1099-MISC forms, using 12 months of payments data from Tipalti for tax filing.
Tipalti is a multi-currency solution, handling global payments in 196 countries and 120 local currencies. Tipalti gives you a choice of 6 payment methods (if available in a payee’s country). You can opt to receive a virtual card called Tipalti Card for rewards. Tipalti provides automatic reconciliation of online payment batches having multiple payment methods in real-time.
For payments, Tipalti is a money services business (MSB) with money transmitter licenses (MTLs) in states requiring these licenses. Tipalti is also regulated in the UK. This means that Tipalti can be trusted as a reliable company for making the payments that you’ve directed them to make on your behalf through Tipalti global partner payments software. Being a licensed MSB is a unique Tipalti competitive advantage for you to consider when selecting the best accounts payable software.
Finance automation with Tipalti software is a best-in-class solution for your midsize company that will scale with you as your business expands with revenue growth in global locations. For more complex companies and accounting software, Tipalti offers multiple business entities and consolidated views of payables.
Tipalti offers two tiered pricing plans, starting with a $149/month platform fee for the Tipalti Express basic plan. As your business grows and its needs become more complex, Tipalti offers upgrades for more functionality. With Tipalti global partner payments software, your business will also incur transaction fees for payment processing. You can decide whether to shift some or all of these payment fees to the payee when feasible.
How can your business use best-of-class midsize company software for payables?
Download our “The Last Mile of ERP: Payables Transformation Strategies” to learn how your growing company can improve its AP operations.
Use AP automation and global partner payments software to increase efficiency, save time and money, reduce fraud and errors, and automate global regulatory and tax compliance.
2. NetSuite ERP
Best for Global Midsize Companies with Expansion
Why is NetSuite good for midsize businesses?
NetSuite, owned by Oracle, is a true cloud ERP software system, offering a range of ERP modules called Suites that work together to provide a unified company-wide system for business visibility. One of these Suites that offers global reach and international accounting at the business unit and consolidated levels is NetSuite OneWorld. Midsize businesses grow market share by expanding their businesses to international locations and acquiring other companies through M&A deals. NetSuite is designed to scale with business growth.
Netsuite ERP offers solutions for:
- Financial Management
- Order Management
- Inventory Management
- Warehouse Management
- Supply Chain Management
NetSuite handles revenue recognition and other GAAP accounting well to meet your accounting needs. NetSuite ERP and accounting software offers a complete Financial Management solution that goes beyond an accounting system. NetSuite provides real-time business insights. It handles planning, budgeting, forecasting, and cash flow management on its accounting platform.
Request a quote from NetSuite sales. The cost will depend on the number of users and which software Suite modules are selected by your business.
3. Sage Intacct
Best for GAAP Compliance and Multi-dimensional Report Views
Why is Sage Intacct good for midsize businesses?
Sage Intacct offers accounting and ERP system modules. When implementing accounting standards like GAAP revenue recognition, Sage Intacct can help you reach your goals. Intacct is the only accounting software endorsed by the AICPA, the distinguished, preeminent professional organization for CPAs. Sage Intacct is modern, user-friendly cloud software using a simplified chart of accounts for multi-dimensional report views that scales from small business to midsize and enterprise companies.
Sage Intacct modules include product solutions for:
- Accounting and ERP (incorporating AI)
- HR and Payroll
Sage Intacct helps its customers determine pricing by customizing a quote depending on selected modules of its accounting software and ERP system. Expect a one-time implementation fee for Sage Intacct besides the subscription cost.
4. Microsoft Dynamics 365
Best for Companies Using other Microsoft Software Solutions for Integration with Dynamics 365
Why is Microsoft Dynamics 365 good for midsize businesses?
Microsoft Dynamics 365 is cloud software that can be combined with many other Microsoft apps and software solutions, including Microsoft 365 (Outlook, Excel, Word, PowerPoint, OneDrive Sharepoint, Teams, etc.), Azure (machine learning platform), Power Platform, and Dynamics 365 Copilot (AI assistance). Your business can choose on-premises deployment. It scales up for large companies, so your business can continue using Microsoft Dynamics as it grows.
Besides its latest cloud software product, Microsoft Dynamics 365, Microsoft offers other midsize ERP software products in its lineup including Dynamics NAV (formerly Navision), now branded as Dynamics 365 Business Central, and Dynamics GP (formerly Great Plains). Long-established software products Dynamics NAV and Dynamics GP have worked well for many years for manufacturing companies and in other midsize business industries.
Microsoft Dynamics 365 integrates with Microsoft CRM 365. Or your business can optionally integrate with the Salesforce CRM instead.
Pricing for Microsoft Dynamics 365 Finance starts at $180 per user/month for the first app and $30 per user/month for a subsequent qualifying (for same licensed user) Dynamics 365 app. For a full quote based on your expected use case for Microsoft Dynamics 365 modules and apps and number of users, contact Microsoft.
Best for User Experience and Unlimited Number of Users Pricing Model
Why is Acumatica good for midsize businesses?
Acumatica is a modern AI-driven cloud ERP system that allows businesses to access shared data and provides cross-team workflows. Acumatica provides industry-related software solutions and scales for business growth. Acumatica has a high customer satisfaction rating and easy-to-use user interface (UI).
Acumatica is priced for unlimited users, which helps midsize companies with affordability. Companies get a customized quote that depends on the functionality and accounting features they plan to use.
Best for industry-specific ERP/Financial Software and Advanced Analytics
Why is Infor good for midsize businesses?
Infor is a cloud-based accounting software and ERP system preconfigured for industry-specific uses. Infor industry use cases include Professional Services, with time tracking, expense tracking, and project management. Advanced Analytics from Infor® is state-of-the art for business intelligence and data science-based analysis that uses financial and other data.
Infor Advanced Analytics includes:
- AI without coding experience
- Business intelligence
- Process intelligence
- Predictive insight on talent
- Location-based intelligence for medical applications
Infor lets your business share industry (and role-specific) analytics with its customers, partners, and suppliers, with opportunities for monetization. Process intelligence includes visual process modeling.
Get custom Infor pricing for the number of users and modules selected for your business. Infor is a midrange to high cost system, depending on your business needs and selected use of Infor modules.
How to Choose the Best Accounting Software Solution for Your Midsize Business Needs
For a midsize company, functionality, growth, and budget vs. software scaling capabilities and pricing models may help your business decide on the best fit accounting solution. Select software that provides your company with the many benefits of accounting automation. It will help your finance department shift to more valuable work; from routine task time savings and reduce costs, global fraud risks, and errors.
Accounting Software for Small Businesses and Large Enterprises
Depending on your company size, growth plans, and budget, you may be interested in accounting software for bookkeeping and financial reporting in small companies or more complex large company ERP systems. Integrate add-on payables automation and global partner payments software with your ERP or accounting software.
Small Business Accounting Software
For small businesses and startups with a lower budget that are not ready for accounting software for midsize companies, read our companion guides, “The Best Accounting Software for Small Business” and “The Complete Guide to Accounts Payable Software for Small Business.” Accounting software covered in the first guide includes Intuit-owned QuickBooks Online, Xero, Sage 50cloud, FreshBooks, and NetSuite, which are possibly used by some medium-sized businesses. The second guide includes Tipalti AP automation and global payments software and accounting software brands.
Small business accounting software includes bank account reconciliation features, as does accounting software for midsize and large enterprise companies.
Large Enterprise Accounting Software
ERP software choices, including accounting software designed for large complex global companies, include Oracle ERP, SAP ERP, and Workday. Some of the largest midsize companies with big budgets start planning to implement one of these comprehensive ERP systems. In other cases, the scalability and features of midsize software is sufficient to serve them as they continue to grow into the enterprise category. Tipalti AP automation and global partner payments software scales as your company grows. ThisTipalti finance automation software has ERP integration with Oracle ERP, SAP ERP, and Workday ERP software.
Summing It Up
Several software companies offer excellent choices for midsize business accounting software/ERP systems, including AP automation/global partner payments. These are essential accounting tools for business management. Each solution for best accounting software for midsize companies has unique features, ease of use with a good user interface, and industry applications that could best meet your business needs.
Accounting software includes a chart of accounts and financial statements for reporting, accounts receivable, accounts payable, and asset management, including bank reconciliation features. Most accounting or ERP software is accessible from iOS and Android mobile apps and offers eCommerce capabilities. Many accounting software solutions can be used for expense management and cash flow management.
All of our midsize company selections scale for growing businesses. Budget and productivity enhancement are other issues to consider. Get started with Tipalti automation software integrated with your ERP or accounting software.