7 Best Grocery Store Accounting Software (2024)

Upfront Conclusion

The best accounting software for a grocery store right now is Oracle NetSuite and Freshbooks.

A grocery store is one of the most essential places for most people across the world. The place where you can buy ingredients to nourish your family and fuel yourself for the day ahead. A report published by Statista in February 2022 found that grocery store sales in the United States totalled $803 billion per year*.

There has also been an increasing number of smaller, independent grocery stores popping up across the world that specialise in a certain niche, for example, health foods or zero-waste stores where you bring your own packaging. If you have started your own grocery store or are thinking about it, read our suggestions on the best accounting software to help your business succeed.

Top 7 accounting software for a grocery store

Oracle NetSuite – best for large stores
Freshbooks – best for simplicity
Sage – best for ease of use
TallyPrime – best for managing inventory
Clover – best for omnichannel sales
GoFrugal – best for simplicity
Square – best for saving money

1. Oracle NetSuite – best for large grocery stores

accounting software’s for a grocery store

Pricing: starting from $499 per month

Oracle NetSuite is designed to help businesses get greater visibility of their accounting, inventory, and supply chain. It is a large software ideal for businesses with multiple or global sites and it is operational in over 200 countries with 190 currencies. The software contains automation tools to help speed up invoicing, inventory management and reporting. You can also manage domestic and global taxes through an end-to-end tax management system, great for large grocery stores working across multiple countries.

Key features:

Manage accounts payable and receivable to improve cash flow position
Automated reports
Stay on top of the whole supply chain from raw materials to distribution
Manage a global scale business
Process taxes compliantly within each country

Reasons to buy:

Lots of support and resources available to customers
Cloud-based software
Automation opportunities to help speed up administrative tasks
Real-time intelligence available to help you understand your financial position

Reasons to avoid

It is a big software with lots of individual products, so it may take time to setup and learn
High monthly cost
There may be too many, unwanted features for some businesses

Try Netsuite

2. Freshbooks – The Best European Accounting Software for Invoicing

Pricing: starting at $15/month after a free 30-day risk-free trial

Freshbooks is an accounting software designed especially for service providers, small and medium businesses. It tracks your time, invoices, expenses, providing estimates and adequate reports. It also allows multiple users. Freshbooks is a top option for grocery stores as it is straightforward to use and offers many unique and valuable features that the business can use in financial management and development. It is simple and provides ease of use.

Key features:

Freshbooks helps you make financial estimates.
With the software, your invoicing management gets handled automatically.
It occurs your adequate time tracking services.
You get more accessible and faster payment processing with Freshbooks.
The software helps you effectively manage your expenses.
Freshbooks facilitates and seamlessly handles your project management.
The software offers you simplified statements and reports.
It gives you an easy-to-use double-entry accounting platform.

REASONS TO BUY:

It is very easy to use.
It has a free trial period.
It is cloud-based.
Integrated with up to 80 applications.
It has a good customer service team.

REASONS TO AVOID:

It doesn’t work well with large companies.
Lacks inventory management

Try Freshbooks

3. Sage – best for ease of use

Pricing: starting from £6/month

Sage’s retail accounting software help spend less time managing finances and more time servicing consumers. It is connected to your point-of-sale system and aids in managing cash flow and keeping track of every expenditure, including purchases of merchandise and payments. With Sage Accounting for retail, take control of your grocery store’s finances and performance reports. Connect your banks, and transactions will be automatically imported, saving you hours of manual data input.

Key features:

Billing and invoicing
Stock management
Multi-currency
Adequate reporting
Automatic bank reconciliation
Advance Reports

Reasons to buy:

Automate and set up regular invoices to speed up payment.
Viewing a cash flow projection with current information will help you maintain control.
Utilize your mobile device to manage your funds from anywhere.
Review orders that are pending and in the works
Reduce your administrative workload to save hours.
Sync your accounts and import purchases from your points of sale

Reasons to avoid:

Homepage can become cluttered if not customized
No time tracking

Try Sage

4. TallyPrime – best for managing inventory

Pricing: starting from $630 (one-off payment), free demo available

TallyPrime is a software to help you make your business management more efficient. The software helps business owners take care of their cash flow and will automate reports to allow you to identify and improve your financial position. Included in the software is an inventory management tool that helps with tracking, predicting, and reporting on inventory levels. This is extremely useful for a grocery store who will often have high levels of stock.

Key features:

Manage bills, invoices, and payments to improve your cash flow
Receive reports on your financial position to help you make changes to increase profits
Track and manage all inventory
Record payments and expenses in multiple currencies
Review expiry dates of products so you never sell “out of date” groceries

Reasons to buy:

Financial projections to help you make real-time decisions
Keep groceries well-stocked and fresh
Free phone and email support plus an online learning hub
One-off cost rather than monthly payments
Multi-user packages available to aid with large volume of transactions

Reasons to avoid:

Lack of customization due to a standardized package. You will need to discuss with a Tally to build customized features
$630 may be a lot to pay in one-go for a new business

5. Clover – best for omnichannel sales

Pricing: starting from $14.95 per month, with one off payment of $749

Clover has been set up to help you with all aspects of running a business. For more established grocery stores who want an online presence, Clover can help accept and manage online orders and can email invoices to customers. There are also tools for financial reporting to spot any seasonal trends to help be well-prepared for the next season. The design of Clover is clean, modern and it is simple to use and setup.

Key features:

Accept both online and in-store payments
Create a dashboard for your cash flow and access via mobile or desktop
Setup promotions and loyalty programmes to promote repeat custom
Access your income each day
Speedy POS system to process customer purchases

Reasons to buy:

7-inch, touchscreen point of sale system with receipt printer included in starter package
Manage all inventory and order before stock levels deplete
Report on sales in real-time
Integration with other software such as Quickbooks and Xero
Setup a customer database to offer promotions and loyalty incentives

Reasons to avoid

High initial costs
Additional accessories such as barcode scanners and weight scales are an extra cost
Lots of features available, time will need to be invested to learn the software
No payroll tools included

6. GoFrugal – best for simplicity

Pricing: starting from $375 per month

GoFrugal is billing management software for grocery stores who want to simplify their accounting needs. The starter package offers customers POS tools such as barcode scanner, weighing scales and cash drawer, alongside accounting tools to manage expenses and income. You can also keep track of inventory levels and receive updates when stock levels are low. There is a large choice of extra “add-ons” to your package, starting at $75 per feature.

Key features:

Keep track of sales, expenses, and invoices
Approval workflow feature so you can raise purchase orders and get them approved quickly
Multiple levels of security for extra protection
Monitor stock levels and set automated stock allocation
Create customer profiles to develop loyalty and incentive programmes

Reasons to buy:

You can make the software as simple or as complex as you like
Keep on top of inventory to make sure stock is replenished regularly
Lots of professional support to help you setup

Reasons to avoid:

The initial cost could be quite high with additional add-ons
No payroll features
Lack of cross country and currency settings

7. Square – best for saving money

Pricing: free package available, prices starting from $60 for Plus package

Square is an accounting and POS tool to help retail businesses manage finances, inventory, and take payments. It is designed to help new and growing business reach as many customers as possible at an affordable price, through in-store and online sales. The Plus package is affordable and gives customers access to more advanced inventory and reporting tools, and support from the Square Team.

Key features:

Take customer payments both in-store and online
Send automated invoices
Manage team members with digital timecards
Receive reports to understand your expenses and income
Create an online store to sell your groceries

Reasons to buy:

Easy to use across desktop, mobile and tablet
Manage and keep an eye on cash flow
Free online store available
Access income on the same day

Reason to avoid:

There is a 2.6% fee for in-person sales and a 2.9% fee for online sales
No payroll features
The accounting features are not complex
The software will not suggest any ways in which to improve your financial position
Extra support is only available in the Plus package

Frequently Asked Questions (FAQs)

What is grocery store software?

A grocery store software is a digital tool that allows business owners to easily manage their finances, operations, and day-to-day activities. There are a variety of software available, ranging from simple accounting software to more complex ones that encompass all aspects of business management.

Why do grocery stores need accounting software?

It is beneficial for grocery stores to have accounting software to streamline their operations and automate some of the administrative tasks that often take a lot of time each week. With high volumes of inventory, having a software to manage stock levels and re-order notifications will allow business owners to maintain fresh produce and ensure customer satisfaction.

How do I choose the right accounting software for my grocery store?

As grocery store owners a high volume of sales, stock and sometimes staff, it is important to choose a software that meets all your needs. Look for a software that can help you track your sales and expenses, so you can see your cash flow position. You should also consider software that will save you time, so look for features such as automated reports and payroll system. Software that are available to download onto a mobile device are also beneficial because you can work from anywhere and on the go.

*Source: https://www.statista.com/topics/1660/food-retail/#topicHeader__wrapper