Jake Ballinger

Jake Ballinger - FP&A Writer

March 2023 - min to read

The 13 best financial reporting software [updated for 2023]

The 13 best financial reporting software [updated for 2023]

It's no secret that accurate financial reporting is critical to any successful business.

...but the process of getting there can be time-consuming and challenging.

The good news? It doesn't have to be.

The best financial reporting software makes numbers and financial insights easy to record, understand, and act on, even if you’re not a finance expert. 

And in this blog post, you'll learn exactly what the best financial reporting tools are.


  1. What is financial reporting software?
  2. The 13 best financial reporting software tools
  3. Benefits of using financial reporting software
  4. More about financial reporting software
  5. Conclusion: the best financial reporting software tools

What is financial reporting software?

Financial reporting software (AKA general ledger software) speeds up the financial reporting process with automation and analysis. It can help finance teams with these basic accounting tasks:

  • Data collection
  • Trend monitoring
  • Financial goal-setting
  • Budget alignment
  • Reconciliation
  • Financial consolidation (as part of the month-end close)
  • Creating financial statements

Organizations can quickly generate filtered financial reports to learn essential business details. 

Types of financial reporting software

Different finance software will have different capabilities. In our review, we'll discuss financial reporting software. However, you might also come across:

Critical features of financial reporting software

Here's what the best financial reporting software helps organizations accomplish: 

Automation: Financial reporting software uses many data points to automate administrative business processes, like accounts payable and payroll.

Forecasting: Financial reporting software uses historical data and trends to predict future income, expenses, and revenue performance. The best financial reporting software will also let you filter new circumstances in your forecasts, helping you envision a new merger, market condition, or loss. 

Advanced reports: Balance sheets, income statements, profit and loss statements, and cash flow statements are a few of the many critical financial reports organizations need to pay taxes, inform business strategy, and assess performance. It also helps you create custom reports based on your business's circumstances.

User-friendly: This applies to every other financial reporting function on this list. If it's not user-friendly, it's not useful. Ideally, your financial reporting software should create reports you can easily share with non-finance professionals. Moreover, the platform should feel intuitive to encourage the most productivity and comfort.

Integrations: Organizations use tons of software, from CRM (customer relationship management) to project management. The best financial reporting software integrates with other business software to smooth out processes, encourage collaboration, and retain consistency across departments.

Security: All financial analysis software has some form of security feature to protect sensitive info, either through advanced machine learning, custom permissions, or encryptions.

But does financial analytics software give you everything on this feature list? Not quite, but each one has pros and cons. Let's explore them in this next section.

Best financial reporting software

So, what are the market's top financial reporting software tools right now? Let’s start our review. 

But first a disclaimer: yes, we put Cube first. We’re not only proud of what our software does for our customers—our customers are too.

You don’t have to just take our word for it though: check out all of our 5-star reviews on Capterra.

1. Cube


Cube is the first spreadsheet-native FP&A platform that empowers teams to drive better planning and business performance without changing how they work.

Our cloud-based FP&A software platform helps finance teams work anywhere—we integrate natively with both Excel and Google Sheets—so they can plan, analyze, and collaborate with the ultimate speed and confidence. 

Of course, FP&A also has to make reports, and that's where Cube can help. Many companies (like Masterworks) use Cube to simplify and systematize their planning and compliance requirements, saving weeks' worth of work.

Cube offers faster time to value (most companies onboard within two weeks) and is competitively priced.

Convinced? Book your demo with us today. Need to see what's still out there? Scroll away. 

Big image_Howcubeworks_V2 (4) (1) (1)


  • Automated data consolidation: Connect data from numerous sources for automated rollups and drilldowns.
  • Multi-scenario analysis: Allows you to model how changes to key assumptions affect overall outputs seamlessly.
  • Endless integrationsIntegrations for spreadsheets (Google and Excel), accounting & finance, HR, ATS, billing & operations, sales & marketing, and business intelligence. 
  • Customizable dashboards: Gives you the full ability to build and share customizable dashboards.
  • Native Excel and Google Sheets integration: Compatible and bi-directional with any spreadsheet
  • Multi-currency support: Evaluate your financials in both your local and reporting currencies.
  • User-based controls: User controls, validations, and an audit trail ensure that the right data goes to the right people at the right time.
  • Centralized formulas and KPIs: Store all your calculations in a central location and manage from a single source of truth.
  • Drilldown and audit trail: Get straight to the transactions and history behind a single data cell in just one click.

➡️ See all of our features here.


  • Powerful reporting and KPIs help automate and analyze important data.
  • Streamline manual data, reduce errors, and improve collaboration so you can make smarter business decisions in a fraction of the time.
  • You can easily collaborate with industry-leading FP&A experts and an award-winning support team.
  • Integrations with dozens of applications.
  • Keep real-time eyes on cash flow with easy-to-update actuals and the ability to drill down into cells.


  • Cube works best for mid-sized businesses—it’s not a personal finances app.
  • Cube doesn't provide multilingual support right now


  • Starting at $1250/month for lean finance teams and $2,450/month for companies looking to scale. See detailed pricing.

2. Oracle NetSuite

Oracle Netsuite 1

Oracle NetSuite features a user-friendly interface where organizations can access real-time analytics and advanced reports.

The platform enables serious automation, from data collection and journal entries to account reconciliation. Customers appreciate the cloud function, allowing them to access important financials anywhere.


  • Tax management
  • Accounts receivable and payable
  • Cash management
  • General ledger
  • Payment management
  • Financial management


  • Real-time insights to profitability ratios, margins, tax liabilities, and cash flow
  • Automation for countless administrative processes


  • Higher learning curve
  • A more expensive option 
  • Not many customization options 


  • Pricing is not listed on their site.

3. QuickBooks 


QuickBooks is a great introductory financial analysis software for freelancers and small or growing businesses. 

While it's one of the world's most popular accounting software, it falls short as a financial reporting software due to its limited capabilities in advanced and custom financial report generation.

For example, you can customize profit and loss statements and other reports by vendor or employee, but not by unique market conditions to prepare for future strategy. 

Larger organizations might need more robust software to capture all their insights. 


  • Invoicing
  • Expenses and expense management
  • VAT and GST
  • Inventory
  • Insights and reports
  • Multi-currency support
  • Financial consolidation
  • Tax preparation


  • User-friendly
  • Easy integrations
  • Affordable
  • Works best for individuals or smaller businesses


  • Lack of custom reports
  • Poor customer support
  • Not the best fit for larger companies 


  • Essentials: $7.80/month/user
  • Plus: $10.80/month/user 


4. FreshBooks 

freshbooks-logo-1 (1)

Freshbooks is even more tailored to freelancers and small businesses, functioning primarily as invoicing software. You can generate seven types of reports through this software, but custom capabilities are limited. 

Customers praise the platform's user-friendly interface and affordability but complain about frequent crashes.


  • Budget and sales tax summaries
  • Profit and loss reports
  • Accountant access and permissions
  • Expense reports
  • Balance sheet reconciliation 
  • Journal tracking


  • Affordable, including a free trial
  • User-friendly interface 


  • Slower loading and crashes possible 
  • More an invoicing tool than an accounting software
  • Lack of flexibility
  • Not ideal for large organizations


  • Lite: $4.50/month
  • Plus: $7.50/month
  • Premium: $15/month
  • Custom pricing available

5. Sage Intacct


Sage Intacct is financial reporting software that prioritizes increased user efficiency and extensive reporting customization.

Users can use its drag-and-drop design to create reports based on math functions, aggregations, transaction details, grouping, and other criteria.

This platform works for various industries, like SaaS (software-as-a-service) and hospitality.


  • Quick multi-entity consolidation
  • Cloud solution
  • Integrations, including with Salesforce
  • General ledger with predefined dimensions
  • Collaboration feature
  • 150 built-in reports plus custom reports


  • User-friendly interface
  • Extensive reporting features with key metrics
  • Data visualizations to make reports more accessible


  • Integrations could be smoother
  • Limited search capabilities
  • Higher learning curve 


  • Pricing isn't available on their website.

6. Insight Software

insightsoftware_DETAIL (1)

A French tech company,  Insight Software promises to reduce your closing and reporting times by 50%.

It features custom reports and Excel integrations.

This company bases pricing on increased features measured by claims of improved efficiency up each tier.


  • ERP to Excel data export
  • Spreadsheet server reporting
  • Data integrations, formatting, and prep
  • Custom reports
  • Integrations with some financial software
  • Equity Management


  • User-friendly


  • Bugs can be frequent
  • Not the strongest customer service. 


Insight offers three pricing tiers—simple, streamlined, and vetted—but you must inquire within for exact pricing. 

7. Workday Adaptive Planning 


Workday Adaptive Planning boasts visible insights as fast as a click, and immense financial planning capabilities.

However, users cite frustration with difficulties translating advanced insights to non-finance audiences.



  • Predictive models
  • Time savings 
  • Cloud-based 
  • Integrates with other Workday products


  • Limited training resources and high learning curve
  • Advanced reporting can be challenging to learn 


  • Pricing isn't listed on their site. 

8. Board


Board is a financial reporting software that helps businesses improve financial processes and accounting.

It even allows users to create custom planning and analysis applications. The platform unifies metrics, analytics, and reports into one place.


  • Calculated metrics
  • Analytics
  • Real-time modeling
  • Multi-user data entry
  • Adaptive aggregation
  • ERP database write-back


  • Easy to create dashboards without a tech background
  • Actionable insights
  • Adaptable


  • High learning curve
  • Privacy concerns
  • Slow customer service
  • Not user-friendly


  • Website doesn't list pricing on their website. 

9. Xero

xero-logo (1)

Xero is an accounting software with some reporting features, though its primary functions are payroll, expenses, and invoicing.

You can track and pay bills, claim expenses, connect to your banks, track payments, use Gusto payroll software, manage Xero contacts, and much more. 


  • Collaboration capabilities
  • Customizable reports
  • Formulas to compare budgets with actuals
  • Lock dates
  • Search functionality


  • 24/7 customer support
  • Interactive and KPI-specific reports
  • Tracking categories for different business departments 


  • Limited advanced functionality
  • Limited integrations to other financial software 


  • Starter: $22/month
  • Standard: $35/month
  • Premium: $47/month

10. Sage 50 Accounts


You might remember Sage Intacct, which we covered previously in this review.

However, the company also offers a cloud version called Sage 50cloud Accounts. This financial reporting software is similar to Intacct, but users can access their files anywhere. 

Additionally, it’s a decent financial reporting software for companies requiring Microsoft 365 integration. 


  • Advanced budgeting and reporting
  • Audit trails
  • Inventory management
  • Automated reconciliation
  • Fraud detection 
  • Invoice tracking


  • Microsoft 365 integration
  • Adequate customizability for reports


  • Permissions only permitted on the most expensive plan
  • Any company with over five users will have to sign up for the most costly plan
  • The basic plan offers basic reporting, but nothing advanced


The company is currently offering a 40% discount. The prices listed below reflect that discount.

  • Pro Accounting: $340/year
  • Premium Accounting: $554/year
  • Quantum Accounting: $919/year

11. Vena Solutions


Vena Solutions is financial reporting software dedicated to helping businesses seamlessly integrate advanced reporting with Excel data.

A cloud solution, Vena offers reporting to include what-if scenarios and prepare for cash and budget planning.

However, customers cite a long learning curve and limited training opportunities. 


  • Forecasting
  • Financial management
  • Financial and ad-hoc reporting
  • Analytics and real-time insights
  • Report consolidation 
  • Integrations
  • Audit trails
  • Personalized dashboards


  • Mobile version
  • User-friendly
  • Integration with Excel 


  • Longer loading time
  • Lacking training
  • Limited customization 


  • Vena doesn't list prices on their website.

12. Planful

 Planful-Social-Card-dc025794d4b83bd77fe9208b65b99100 (1)-jpeg

Planful has skilled professionals with enterprise software, HR, and growth experience.

While reviews praise the platform's user-friendly interface, some criticism cites issues with accuracy when updating formulas and reports.


  • Excel reporting and integrations
  • Data visualizations
  • Personalized dashboards
  • Forecasting
  • What-if scenarios
  • Journal entries 
  • Reports consolidation


  • Strong customer service team
  • Reusable templates for efficiency 


  • Accuracy issues when updating formulas
  • Tricky collaboration 
  • Different reporting tools for templates
  • High learning curve 


  • They don’t list prices online.

13. Multiview ERP 


Multiview ERP features a team of in-house support along with its financial software. It delivers year-round insights, data visualizations, and customization capabilities through core accounting, business insights, business automations, and inventory management. 


  • Asset management
  • General ledger
  • Accounts payable and receivable
  • Budgeting and forecasting
  • Automated workflows
  • Business intelligence


  • Search functionality
  • Strong and responsive customer service


  • There can be difficulty creating customer reports
  • There are glitches at times


  • Multiview doesn't list pricing online.

Benefits of using financial reporting software 

Organizations reap many benefits by having the best financial reporting software, like:

  • Identifying trends
  • Real-time insights
  • Time and labor cost savings
  • Accurate data and consequently informed business decisions
  • Better collaboration and cohesion across teams
  • Minimizes the chance for human error
  • Streamlined tax management

The best SEC software will give all the above and more.

More about financial reporting software

The best financial reporting software will grow with your business amidst all these industry trends:

  • More AI in accounting
  • Data security prioritization
  • Transparency
  • Automation and actionable insights
  • Integration with ERP

Financial reporting software for small Businesses

The U.S. has over 30 million small businesses, with employees of 500 or fewer. However, most of us associate the term with fewer employees, around 10-100. 

Small businesses require the best financial reporting software to stay on top of payroll, expenses, business strategy, and more. Although the best financial reporting software offers extensive custom reports and features, a small business might benefit from one with limited reporting if the price is significantly more competitive. 

QuickBooks and Freshbooks are some of the most common software for small businesses, offering Lite and Basic plans to accommodate smaller budgets.

Our advice? Dream big with financial reporting software that will grow with you to new heights. Focus on scaling with Cube's robust financial reporting software to keep you organized and constantly growing.

Best financial reporting software for Excel?

All organizations still use it and have immense amounts of data in Excel spreadsheets. Cube integrates with both Google Sheets and Microsoft Excel to capture every single data point your business has to give you accurate reports.

The thing with other financial reporting software is that you'll have to manually input spreadsheet data into the new software. Some may offer integrations, but not with every spreadsheet.

That's why we're compatible and bi-directional with every spreadsheet you feed us!

Best financial reporting apps?  

Financial reporting apps allow you to take financial reporting capabilities with you anywhere. Some great ones are from this list, like Xero for Android and Quickbooks.

Often apps are best for personal or small business financial reporting. 

Best financial reporting software for QuickBooks?

Maybe you already use accounting or invoicing software for your business. QuickBooks is popular, but you might crave more advanced reporting capabilities.

Cube integrates with plenty of financial software—including QuickBooks—to enhance your financial reporting.

What kind of financial data does good financial reporting software handle?

The best financial reporting software solutions will help you create and report your three financial statements.

The three financial statements are the income statement, balance sheet, and statement of cash flow. Together, they comprise the 3-statement model.

Conclusion: the best financial reporting software? 

No business became successful without any support. Be it through a team of skilled professionals or machine learning tech, the best organizations offload the busy work so they can spend more time scaling.

Cube offers you this exact service–to take on the effort that goes into financial reporting to save you time and resources. 

We've covered an extensive list of the best financial reporting software, each with unique selling points and downsides. 

Now, it's your turn to take the wheel and drive your financial reporting to new heights. Cube could help you with automation, strategy, and seamless integrations on your journey.

Talk to us today to learn why ours is the best financial reporting software on the market. 

Sources cited

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