I have come across multiple accounting softwares for Freelancers, Self employed, manufacturers and so on. Can any one suggest a good accounting software exclusively for SAAS?
What is the problem you are trying to solve ? Accounting usually has concepts like PnL, Balance Sheet etc. How/Why is it different for SAAS companies unless you are talking about things like "Auto categorize AWS" as a "Hosting Expense" etc.
Im trying to build a financial software for SAAS industry, any suggestion on what I could focus on?
There is Synder an accounting software for Ecommerce Industry.
Xero or Quickbooks Online should work fine. If you ever outgrow them you can always migrate your data to another system.
The main difference specific to SAAS is accounting for deferred revenue. You can always hook up something like Chargebee to Xero to get better reporting in that regard.
What your accountant experienced with SAAS businesses recommends. If your business cannot afford to pay an accountant, there's a substantial probability it is only feasible and not actually viable.
Unless you are an accountant, your time spent on accounting rather than growing the business is low ROI. The same is true of freelancers, etc. If rates don't cover basic business expenses, the long term prospects are not favorable.