Ginny D. AdamsQuickbooks is known for its extensive consumer base and is the most widely adopted accounting and bookkeeping software. Its massive popularity can be attributed to its ease of setup, user-friendliness, extensive invoicing options, ability to efficiently handle multiple users, and seamless integration with an assortment of third-party programs and applications. However, this does not necessarily mean that Quickbooks is the best option for you.
Quickbooks is a simple and easy software to manage your business finances. However, it is not the best option for small businesses because it is too expensive and it lacks flexibility.
There are many Quickbooks alternatives out there that have a lot of features and provide more value than the original software.
Quicken – It offers several features that help small businesses such as budgeting, tracking your cash flow, inventory management and cost tracking. This software is also mobile compatible.
Excel – This business accounting solution offers several features like manage time-off requests, employee time-tracking, project management, and expense tracking among others.
If you are operating and managing a small business or freelancing, you will not require most features which the accounting and bookkeeping software has to offer. Additionally, you are required to pay additional charges to get access to the payroll capabilities which may hurt your budget. The software also lacks project management features while its time tracking features are limited. We have compiled a list of best Quickbooks alternatives you can use for your business:
Read more : Best Small Business Apps For Accepting Payments
myBooks
One of the best alternatives to Quickbooks is myBooks from Zetran. It is a cost-effective and affordable cloud-based accounting and bookkeeping software. The software is easy to set up and install and offers features such as simple and intuitive invoicing, automatic bank feeds, multi-currency transactions, and a comprehensive analytics dashboard.
myBooks offers premium enterprise-level data security allowing businesses to share and use data over the cloud without any concerns over data theft or breach. At $10 per month, myBooks offers all the premium features with no limitation on the number of users, contacts, transactions, bank feeds or purchase orders making it one of the best alternative to Quickbooks.
Xero
Xero is one of the best Quickbooks alternatives allowing businesses to give access to an unlimited number of users to their data without paying any extra charges. The software pricing plans start from as low as $9 per month and go up to $60 per month. Each plan allows unlimited users to access data and offers features such as tracking income and expenses, connecting credit cards and bank accounts, and managing accounts payable and accounts receivable. The platform also generates detailed reports about the profits and losses you incur over a certain period of time along with balance sheets and cash flow statements.
Sage
An affordable full accounting package, Sage offers a variety of features to help you streamline your financials and accounting. You can take up the starting package at just $10 per month while a $25 per month subscription can provide you access to unlimited collaboration, cash flow forecasts and reports, estimates and quotes, and a choice to pick between accrual basis or cash accounting for your business. Like Quickbooks, Sage runs its own accountant partner program and provides the resources to help you learn more about the platform and adapt to it.
Excel Cashbook
A free Quickbooks alternative for small businesses, Excel Cashbook is for people who are looking for a simple yet efficient tool to track their income and expenses. The accounting software is 100% free and can be customized to suit the needs of your business.
FreshBooks
FreshBooks is rated as one of the best QuickBooks alternatives. The software was launched as an invoicing and time-tracking system but with time it has evolved into a complete suite which provides all the features required to track and streamline your business’ financial needs. The accounting and bookkeeping software is best suited for freelancers and self-employed people who need something simple and efficient to scale their business.
FreshBooks lets you invoice details to your clients, collect payments from them, tracks your expenses, and aids you in managing your collaboration with other subcontractors. The software works seamlessly with external applications and allows for creating a completely customized accounting solution tailored specifically for your business.FreshBooks is best suited for people who are initially starting out a new business. Subscription plans range between $15 to $50 per month.
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