Best Accounting Software for Midsize Businesses in 2025

In Saudi Arabia, midsize businesses play a crucial role in driving economic growth and achieving Vision 2030 goals. However, with expansion comes new challenges—rising transaction volumes, regulatory compliance, and the ever-present need to secure sensitive data. Accounting software, or ERP, offers a simple, modern way to solve these issues, making managing finances easier and staying competitive.

Globally, Gartner defines midsize businesses as those with 100 to 999 employees or annual revenue between $50 million and $1 billion. In Saudi Arabia, the Small and Medium Enterprises General Authority (Monsha'at) uses a slightly different scale:

Knowing where your business fits is the first step to finding the right tools to support your growth. If you're managing one of these growing businesses, you know how important it is to have reliable accounting software that can keep pace with your growth.

Below, we review the best accounting software for medium-sized businesses, highlighting their key features. Let’s dive in!

Why Do Midsize Businesses Need Cloud Accounting Software?

As your business grows, so does the complexity of your finances. Manual accounting methods or spreadsheets quickly become inefficient and error-prone. Cloud accounting software for medium-sized businesses is specifically designed to handle this complexity. 

With the right software, you can:

• Streamline financial operations to save time and reduce errors.
• Stay compliant with Saudi Arabia’s regulatory requirements, including VAT.
• Make smarter financial decisions that support your business goals.

Unlike tools designed for small businesses, accounting software for midsize businesses offers scalability, robust integrations, and industry-specific capabilities. When searching for the best accounting software for your midsize business, certain core features are a must. Let’s explore them. 

Core Features of Midsize Business Accounting Software

To go beyond basic bookkeeping, midsize business accounting software provides essential features that simplify processes and save time. Here are the core features to prioritize:

1. Core Accounting: Features like tracking accounts payable and receivable and managing the general ledger keep your finances organized. Look for software that automates these tasks to reduce errors and free up valuable time.
2. Billing and Invoicing: Good software automates invoicing, sends reminders for late payments, and even lets customers pay directly. This improves cash flow and ensures you get paid on time.
3. Inventory Management: If your business involves products, inventory management is key. Accounting software with inventory tracking helps you manage stock levels, track sales, and place orders when needed—all in real-time. This keeps your supply chain running smoothly and ensures you don’t run out of important products.
4. Payroll: Managing payroll is easier with software that calculates wages, generates tax reports, and deposits salaries directly into accounts. This ensures accuracy and compliance with Saudi laws.
5. Tax Management: The software must automate tax calculations, generate VAT reports, and comply with Saudi Arabia’s ZATCA regulations, including e-invoicing (Fatoorah), to streamline tax processes and maintain compliance.
6. Mobile Access: Cloud-based software with mobile apps allows business owners to access financial data, approve tasks, and track reports on the go.
7. Audit Trail: A robust audit trail ensures all transactions are traceable and secure, which is vital for maintaining transparency and compliance during audits.

Apart from these core features, midsize businesses often need advanced tools to handle complex financial tasks and gain deeper insights into their performance. Let’s examine them. 

Advanced Features To Consider in Accounting Software 

For midsize businesses, advanced features in accounting software can help manage complexity and improve efficiency. Here are the key ones to look for:

• Business Intelligence: BI tools in accounting software can help you analyze your financial data more deeply. With features like historical reporting and predictive analysis, you can spot trends, forecast future performance, and make smarter financial decisions. 

• Budgeting and Forecasting: Good accounting software helps you plan for the future by creating budgets and forecasts. You can set financial goals, track progress, and adjust plans as needed. These tools give you a clear view of your future revenues and expenses. 

• Currency Exchange: If your business deals with international clients or suppliers, currency exchange features are important. Accounting software can automatically handle currency conversions and track international transactions. This helps you manage global finances without the hassle of manual calculations. 

• CRM Integration: CRM integration connects your financial data with customer information. It allows you to track sales, manage finances, and store customer details in one place for better customer relationships. 
• Workflow Automation: Approval workflows for expenses, invoices, and purchase orders can be automated to reduce delays and improve efficiency across teams.
• AI and ML Capabilities: AI-driven features, like expense categorization and anomaly detection, help automate repetitive tasks and identify irregularities in financial data.
• Customizable Dashboards: Personalized dashboards allow users to access real-time KPIs and financial insights, offering quick, actionable overviews tailored to specific roles or departments.
• Industry-Specific Features: Some industries, like retail or manufacturing, may require niche capabilities, such as POS (Point of Sale) integration or production cost tracking.

With these advanced features in mind, you’ll be better equipped to choose the best accounting software for your business.

8 Best Accounting Software for Medium-sized Businesses

Here’s a list of top accounting software options that can help your business achieve its financial goals.

1. HAL ERP 

Best for: Businesses in Saudi Arabia seeking efficient, scalable, and ZATCA-compliant accounting solutions.

HAL ERP is a cloud-based accounting solution designed to simplify financial management for businesses in Saudi Arabia. With robust features and full compliance with local regulations, HAL ERP helps businesses streamline operations, ensure accuracy, and focus on growth. With its unique conversational interface, you can instantly access reports, approve tasks, and stay updated directly through WhatsApp. 

Key Features of HAL ERP:

• Automates bookkeeping tasks like journal entries
• Simplifies bank reconciliation and real-time reporting.
• Complies with VAT, ZATCA regulations, and Fatoorah e-invoicing.
• Speeds up bulk expense processing.
• Connects with platforms like Foodics/Tabby/Tamara/Geidia/Salla/Shopify, etc.
• Access reports and approvals via WhatsApp.

Explore real-world success stories of businesses thriving with HAL ERP to see its impact firsthand.

2. NetSuite

Best for: Global midsize companies with expansion plans

NetSuite, by Oracle, is a cloud-based ERP solution designed to help growing businesses. It offers tools for managing operations, finances, and supply chains in one platform. For businesses expanding globally, the NetSuite OneWorld module supports international accounting and multi-unit management.

Key Features of NetSuite ERP:

• Manages finances, revenue, and compliance
• Simplifies order management and supply chain processes
• Combines CRM and financial data
• Supports multi-currency, multi-language, and multi-subsidiary operations
• Provides real-time analytics for smarter decisions

3. Sage Intacct

Best for: GAAP compliance and multi-dimensional reporting

Sage Intacct is a cloud-based accounting software that helps businesses stay compliant with accounting standards like GAAP (Generally Accepted Accounting Principles). It’s endorsed by the AICPA, a leading organization for accountants, making it a trusted choice.

This user-friendly software offers flexible financial reporting with a simplified general ledger that works for both small and midsize businesses, as well as larger enterprises.

Key Features of Sage Intacct:

• Automates accounting processes and integrates with ERP systems
• Simplifies budgeting and forecasting
• Delivers detailed financial reports and performance insights
• Handles payroll, employee data, and HR functions in one platform
• Connects with tools like Salesforce, SAP Concur, and ADP
• Incorporate features like anomaly detection or predictive analytics
• Supports multi-entity operations

4. Acumatica

Best for: User experience and unlimited users pricing model

Acumatica is a modern, AI-driven cloud ERP system designed to help businesses streamline operations through shared data and cross-team workflows. Known for its intuitive user interface and flexibility, Acumatica offers tailored solutions for various industries, ensuring efficient scalability as your business grows. Its unlimited user pricing model is particularly cost-effective for expanding businesses.

Key Features of Acumatica:

• Comprehensive tools for accounting, cash flow, and reporting.
• Project accounting and budget tracking
• Manage stock levels and streamline supply chains
• Built-in CRM to handle customer interactions and sales.
• Custom dashboards and mobile access
• Unlimited users at no extra cost

5. QuickBooks Enterprise

Best for: Small-to-medium businesses seeking simplicity and remote accessibility

QuickBooks Online is a versatile accounting tool designed for modern businesses. Its remote accessibility, user-friendly interface, and robust features make it an ideal choice for midsize businesses. QuickBooks simplifies everyday accounting tasks like tracking income and expenses, sending invoices, and managing taxes. 

Its seamless integration with other apps and strong security features ensure smooth and secure operations.

Key Features of QuickBooks:

• Tracks income and expenses automatically
• e-payments for faster transactions
• Organizes income and expenses to make tax filing easy.
• Strong encryption and firewalls protect your financial data.
• Automatic backups for easy recovery.
• Integrates with over 200 apps to enhance functionality.
• Easily manage multiple business entities

You can also explore the top alternatives to QuickBooks here. 

6. Wafeq 

Best for:  Micro and small businesses needing accounting and VAT management in Saudi Arabia and UAE

Wafeq is a user-friendly accounting software designed to simplify financial tasks and ensure VAT compliance for smaller businesses. Its intuitive design and robust features make it a great choice for businesses looking to save time and focus on growth. However, as businesses scale, Wafeq may face limitations in customization and handling complex operations, making it less suited for medium or large enterprises.

Key Features of Wafeq:

• Automatically generates VAT returns in the required format
• Simplifies payroll and employee expense management.
• Secure Cloud-Based Platform
• Multi-Currency Reporting
• 14-Day Free Trial – Try all features risk-free before committing.

7. ZohoBooks

Best for: SMEs needing affordable accounting with essential features.

ZohoBooks is an excellent choice for businesses looking for an affordable yet feature-rich accounting solution. While it’s ideal for micro and small businesses, especially in the GCC region, it may face challenges in scalability and customization as operations grow. That means it may be less suitable for medium or large enterprises with complex needs.

Key Features of ZohoBooks:

• Create custom invoices and accept online payments.
• Automatically categorize transactions for easy reconciliation.
• Role-Based Access – Assign specific tasks to users securely
• Multi-Branch Accounting – Track finances across different locations.
• Connects with other Zoho apps like CRM, Inventory, and Projects for unified management.
• Simple and intuitive design, suitable even for non-accountants.
• Advanced security features like firewalls, antivirus protection, and 24/7 monitoring

8. Xero 

Best for: Micro and small businesses with global operations and growth ambitions.

Xero is an all-in-one cloud-based accounting solution tailored for businesses with global operations and growth ambitions. While user-friendly and feature-rich, it may lack the customization and flexibility needed for larger, more complex operations.

Key Features of Xero:

• Automated Bank Feed – Imports and categorizes bank transactions in real-time
• Multi-currency support in over 160 currencies
• Simplifies VAT filing for Saudi compliance
• Create and send professional invoices
• Top-tier security for data protection 

For more detailed information and comparisons, visit reputable platforms such as Capterra, Software Advice, and Reddit. These sites offer authentic user reviews and allow you to compare various accounting solutions easily. 

Let’s examine how these accounting software solutions benefit your business operations overall.

Benefits of Using Accounting Software for Medium-sized Businesses

Here’s how:

• Easy Data Storage and Access: Securely store your financial data online, ensuring your team can access and collaborate on it from anywhere. This keeps everything organized and efficient.
• Faster Billing and Invoicing: Automated invoicing lets you create and send invoices quickly. You can also set up reminders for overdue payments, which helps improve your cash flow and reduce late payments.
• Easier Expense Tracking: Accounting software simplifies expense tracking by automatically categorizing expenses. This helps you manage your budget, avoid overspending, and identify areas for cost savings.
• More Accurate Financial Data: Manual accounting is prone to errors. By automating calculations, accounting software ensures your financial data is accurate, helping you make better decisions.
• Real-Time Financial Insights: Get instant access to real-time financial data. You can easily monitor performance, spot trends, and make informed decisions without waiting for monthly reports.
• Simplified Tax Filing: Accounting software generates tax reports automatically, ensuring compliance with tax regulations. This simplifies the VAT filing process and reduces the risk of errors or penalties.
• Scalability for Growth: As your business grows, accounting software can grow with you. You can add more users, manage multiple locations, or track global transactions without hassle.

Having seen the benefits, the next step is choosing the accounting software tailored to your business needs.

How To Choose the Best Accounting Software for Your Medium-sized Business

When choosing the best accounting software for your midsize business, focus on a few key factors: functionality, growth potential, and pricing.

• Essential Features: Look for software that handles core accounting tasks like invoicing, reporting, and tax compliance. Automation is key to saving time and reducing manual work.
• Scalability: As your business grows, your software should be able to grow with you. Make sure it can handle more users, transactions, and features as needed.
• Budget-Friendly Pricing: Choose software with a pricing model that fits your budget now, and can scale as your business expands.

• Automation: Automated features help reduce errors, save time, and lower costs by handling repetitive tasks like payroll and invoicing.
• Support and Integration: Ensure the software offers good customer support and integrates well with other tools you use, like CRM or inventory management.

Looking Ahead! 

In the future, businesses will increasingly adopt cloud-based solutions for their flexibility and cost-effectiveness. If you’re looking for the best accounting software for medium-sized businesses, now is the time to invest in a system that will grow with you. With rapid advancements in technology, accounting software is becoming more automated, integrated, and easy to use.

Choosing the right software ensures your business stays ahead of trends, adapts to change, and maintains a competitive edge. Look for features like advanced reporting, inventory management, and seamless integration to meet your needs.

Scale Your Business Faster with HAL

HAL ERP is undoubtedly the best accounting software for midsize businesses in Saudi Arabia. From ZATCA compliance to real-time analytics, HAL Accounting Software helps you streamline processes and scale with confidence. Startups can also benefit from this software. 

• ZATCA-Ready: VAT and e-invoicing compliance made simple.
• Local Integration: Connect seamlessly with platforms like Foodics, Noon, and Shopify.
• Mobile-Friendly: Use WhatsApp to access reports and approve tasks on the go.
• Efficient Processing: Simplify bulk expenses and transfers in a few clicks.

Watch this video to discover how businesses like Al Homaidhi Group have leveraged HAL ERP for regional success. Want to see it firsthand? Book a free demo and see how we can help your business grow faster and smarter.

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