Why Is Accounting Software So Expensive? Exploring True Costs & Hidden Fees
What is up with the cost of accounting software? We’ve gotten inquiries from people starving for accounting data but unable to get it from the usual suspects, such as QuickBooks, Xero, and others.
We usually start by asking what the inquirer really needs. Distribution? Services? Construction? Non-Profit? Manufacturing? How many users will there be? How many subsidiary companies are involved?
Usually, the big names in cloud-based accounting come up, followed by eye-watering cost estimates. One highly advertised company quoted $120,000 plus $30,000–$50,000 for “implementation consultants.” HOLY MOLY! What are implementation consultants, and why should you pay such a steep fee just to make software operational?
At Plus & Minus, we are very interested in hearing your stories of shopping for and implementing accounting software—and how accurate the estimates were. We believe there’s an oligopoly of accounting software companies.
Please send your comments to paul@plusandminus.com. We are dying to hear what you have to say!
Ready to experience the power and control of Plus & Minus Accounting Software?
Frequently Asked Questions
Why is accounting software so expensive?
Many platforms charge high subscription fees plus extra costs for add-ons, users, and setup. Some even require consultants to configure the system.
What are “implementation consultants” in accounting software?
These are specialists hired to install, configure, and train staff on new systems. Costs can range from tens to hundreds of thousands of dollars.
Are there alternatives to high-cost accounting software?
Yes. Options like Plus & Minus Accounting Software and other mid-tier providers often include built-in functionality without requiring pricey consultants.
How can I estimate the real cost of accounting software?
Ask about licensing, per-user fees, integrations, consultant costs, and support. Always request a full “total cost of ownership” quote.
Is accounting software pricing an oligopoly?
Some believe so, since a few large providers dominate the market and drive up prices. Exploring alternatives like Plus & Minus Accounting Software can save significant money.