Table of Contents
A good accounting foundation is essential for running and expanding a business.
This means exercising excellent financial housekeeping and utilizing the appropriate tool now rather than later.
One of your considerations should be acquiring the right accounting software as you think about ways to grow your business.
Xero is a popular financial collaboration solution that is widely utilized by small businesses across many industries. Accountants see it as a helpful asset for managing financial activity.
Xero is regarded as a software solution that has transformed the digital accounting market. Users say that this system was introduced with the user experience in mind and provides the required accounting functionality.
The best aspect about Xero is that even inexperienced users will find it simple to use. It simplifies even the most difficult tasks, such as double bookkeeping, for beginners.
As a result, the app has established itself as a well-known brand name in the accounting software market.
Accounting software is not limited to Xero. Investigate other competing solutions and alternatives. Accounting software is a frequently utilized technology.
Many people are looking for robust and time-saving software solutions with integrated APIs, time and expense management, and workflow capability.
Payments and customer service are also essential elements to consider while investigating Xero alternatives.
Top Xero Competitors for Small Business
1. FreshBooks
FreshBooks simplifies dealing with regular invoices and subscriptions. This software effectively connects with well-known business applications, streamlining processes. As a complete suite, it eliminates the need for extra software.
It gives customers full financial control from a single dashboard.
The vendor makes sure that the application's current edition offers enhanced features to help users better manage their finances.
Its dashboard is easy to customize, and it periodically does secure backups to keep user data safe. The technology also enables tracking outside work hours using Android and iOS apps.
Features of FreshBooks
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- A more straightforward but powerful solution
- Mobile optimized
- Online payment
- Impeccable invoice to payment
- Billing history management
2. QuickBooks Online
QuickBooks Online is an accounting system that streamlines the most complex accounting operations, making it ideal for small businesses and freelancers.
Accountants, small business owners, bookkeepers, and finance executives all use it. All of the app's functionalities are accessible to up to five users.
However, for subscriptions with an unlimited number of users, features are restricted.
One significant advantage is that it instantly integrates business profiles to a centralized, where multiple users can see reports and company accounts.
It can generate profit and loss statements, trade sheets, invoices, and billing, all of which are mobile devices accessible. The dashboard also allows for the creation of custom reports and feeds.
Features of QuickBooks Online
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- Accounts management online accessibility
- Security and backups
- Support and upgrades
You can find the complete Intuit QuickBooks Online Review here.
3. Sage Business Cloud Accounting
Sage Business Cloud Accounting, a cloud-based accounting and invoicing management platform primarily intended for small businesses.
Accounting, compliance, and expense management are among its key features. What distinguishes Sage Business Cloud accounting from its co app Sage 50c is that the former is an add-on service that allows the latter to integrate into the cloud.
This combination makes Sage Business Cloud Accounting stronger than ever.
The system's charts, dashboards, and activity overviews provide users with a clear picture of how their business performs at all times and from any location.
It can generate buy and sales records and bank statement imports, which are crucial for tracking cash flow.
The software is accessible via Smartphone, providing users with a real-time view of client data and the ability to write notes at any time.
Features of Sage Business Cloud Accounting
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- Accounting tool for small businesses
- Cloud storage and accessibility
- Robust features from a single dashboard
- Tax management
- Mobile optimization
4. Tipalti
Tipalti is a cloud-based accounting and management software that is well-known for assisting businesses in meeting deadlines.
The solution aids in resolving the issues such as non-compliance, late payments, administrative load, and problems caused by human error. Time spent on financial management significantly reduces, resolving one of the most severe issues facing accounting teams.
Apart from those stated, the software can manage any business's payment processes worldwide, including onboarding and tax compliance tasks.
It is capable of simplifying payment processing in about 190 countries. Companies who use the software can ensure that they align with all current tax and regulatory standards without requiring too much human involvement.
Payment experiences for customers and vendors are also enhanced, as is service quality.
Features of Tipalti
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- Automated payment
- Payment facilitation
- Tax compliance
- Advanced Reporting
5. NetSuite ERP
To help your business grow, NetSuite ERP integrates general ledger and other financial tools with eCommerce, marketing, and sales.
The sales tool contains a contact manager that enables you to handle leads and collaborate more effectively by synchronizing calendars with your team members. Order administration, order processing, and fulfillment are all integrated into the eCommerce component.
An inventory management tool manages your stock. The shipping module provides you with the ability to add features as your business grows.
A robust and stylish dashboard provides access to key performance indicators. Everything is accessible via mobile device.
A file manager makes it easy to share and collaborate on any activity. The user-friendly dashboard allows you to keep track of everything at a glance. It is simple enough for non-experts to use, so you and your staff can focus on your business rather than your software.
Features of NetSuite ERP
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- Made for your business
- A single tool to handle everything
- Immediately identify if your business is missing something.
- Modern and fully mobile
- Configure once and run
6. Zoho Books
Zoho Books is a sophisticated accounting solution for small businesses. Its simplicity helps people make smart business decisions.
As part of the Zoho product family, it offers incredible support, uptime, and security. It can send professional invoices and accept online payments.
The platform is not only simple but also powerful, offering users complete financial control. It may create P and L, cash flow statements, and balance sheets, to name a few.
The dashboard is attractive and can provide financial graphs and overviews. Besides this, the solution can streamline other back-office tasks.
Features of Zoho Books
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- Automatic bank feeds
- Automatic payment notifications
- Customer engagement
- Invoice distribution and tracking
- Project management and tracking
7. DocuPhase
DocuPhase is an organizational automation platform. However, it has features that can assist the financial and accounting teams. DocuPhase can also adapt to their custom configurations.
The platform can automate the accounting process with AP operations. It does away with paper and reduces processing time from weeks to days.
DocuPhase also integrates POS. This allows organizations to strengthen procurement rules. Plus, the software automates payments so you won't miss deadlines.
Employees can focus more on high-value work rather than tedious tasks if businesses minimize unnecessary works.
Features of DocuPhase
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- AP automation
- PO automation
- Automated payments
- Easy audits
8. Tradogram
Tradogram is a user-friendly platform that enables businesses to make the best procurement decisions possible.
Despite its simplicity, this application contains advanced features that clear the way for lower costs, increase profits, and high-quality supplies.
Any organization can use Tradogram because procurement is a business process present in every industry.
Furthermore, it is configurable, making it a versatile solution for your procurement activities. It can also link to your item database and also external sources for supplies.
If your procurement requirements are limited, you can also use the software's free version.
You can examine out all of the features for free for a limited time to see if the software meets your expectations.
Features of Tradogram
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- Connected with suppliers
- Spend management
- Automated procedures
9. Bill.com
Bill.com clarifies managing records and accounting processes. Financial transactions and managing cash inflows and outflows can all be done through the platform with an AI-enabled system.
This allows your business to connect with its customers and other business partners by concentrating on the connection rather than being bogged down with repetitive tasks.
Because it provides an all-in-one end-to-end solution, it is an excellent choice for businesses of all sizes.
Banks, accounting firms, and wealth management firms all use it to serve their customers.
As a result, it has earned a well-deserved reputation as a reliable business partner for some of the world's most prominent financial institutions, as well as some of the most highly regarded accounting firms in the United States.
Features of Bill.com
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- Leveraging the power of AI
- Simplified payments
- Get paid easily
- Seamless business workflows
10. Plooto
Plooto is a robust payment processing solution that offers end-to-end AP/AR automation for accounting professionals. This platform excels at managing all aspects of your cash flow. Smart approvals assure that every bill is paid correctly and on time.
Furthermore, you can specify approval tiers based on the bill amount and assign approval roles to your trusted lieutenants.
It accomplishes this while maintaining control over the financial flow due to the audit trail and record-keeping capabilities.
Not to mention, Plooto allows making electronic payments in over 30 countries worldwide. The vendor provides a comprehensive free trial to get you familiar with the features.
Features of Plooto
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- Powerful approval workflows
- Audit trail and record-keeping
- Automatic account reconciliation
- Pre-Authorized Debit (PAD) agreement
- Contact management
11. Invoiced
Invoiced is cloud-based accounting software that automates accounts receivable. It is simple to use and has a simple interface.
It intends to help businesses automate collections and streamline payments. This cloud-based technology assists businesses in automating tedious accounting operations, allowing the accounting department to concentrate on other activities.
A user-friendly, simple dashboard will enable users to access controls, menus, and customization options right away. Invoiced lets you generate invoices, view customer payment history, and track analytic insights such as quickest to pay clients and crucial AR metrics.
The system allows your billing department to create estimates, establish rollover rates and volume-based pricing, and display prices with promotions and discounts on the invoicing side.
Invoiced also provides your customers with extra payment possibilities by integrating with numerous payment channels and online payment systems.
Features of Invoiced
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- Customization and visibility
- Straightforward dashboard
- Interconnected modules for seamless collection
- Secure online traffic
12. Sage 50cloud
Sage 50cloud is an online accounting solution that helps small and medium-sized enterprises manage their finances and stay compliant with tax and accounting standards.
It includes all of the main functions required of best-in-class accounting software, such as taxation, inventories, planning, cash flow, and invoicing.
In addition, you receive a slew of add-ons such as payment processing, Human resource management, POS, e-commerce, data processing, and more.
With its mobile flexibility, you may make payments on the move, bill consumers, and give your accountants real-time access to the accounting books.
One unique feature of this accounting platform is that it blends the rich feature set of a desktop application with the accessibility of the cloud.
This hybrid setup allows you to access and save data on the cloud while performing other tasks on your local machine.
You may use the devices to monitor purchases and vendors and pay bills.
Its cost management features allow you to make mobile payments and bank feed. It also allows you to link to your bank accounts, monitoring receivables, balancing bank accounts, and making deposits.
Features of Sage 50cloud
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- Powerful & convenient hybrid solution
- Bank-level protection
- Designed for SMBs
- Accounting made easy
- Training & support
13. FreeAgent
FreeAgent is a feature-rich application designed to assist small businesses and freelancers.
Its capacity to bring together and handle all areas of financial operations is relied upon by more than 60,000 organizations. The software includes many tools that will help you manage all critical financial tasks and processes.
The software lets users create, send, and track invoices; track expenses by simply taking a photo of your receipts and sending it to the system; keep time records with a built-in stopwatch, and link to bank accounts with transactions immediately integrated into the system platform.
The dashboard provides complete transparency into your company's income, cash flows, costs, profitability, and receivables.
Features of FreeAgent
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- Easy recording
- Expense reports
- Integration with other Zoho products
14. Wave
Wave Apps is a tightly integrated solution that integrates accounting, receipt scanning, and invoicing functionality into a single, compact package.
It is an excellent solution for startups and small businesses, and independent professionals such as consultants, freelancers, and startups. Wave is a simple application to set up and use.
Its dashboard is straightforward to navigate, and it displays all necessary information.
Accounting and invoicing processes are simplified, as are tracking expenses, chasing payments, and managing taxes and employees.
In a matter of seconds, you can create and send professional receipts, estimates, and invoices.
Additionally, its tracking capabilities assist you in staying on top of your operations.
Features of Wave
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- Accounting
- Tax Calculations and Deductions
- Yearly Record Keeping
- Direct Credit Card Payment
Conclusion
Xero is one of the most extensively used accounting software apps on the market. Still, it doesn't imply it's the best option for your business.
If you're still not confident which application is best for you, read through the complete reviews of these Xero competitors. Then pick the one that provides all you need for your small business to succeed.
If you're searching for a broader range, we've got you covered since we also examine the significant advantages of top Xero alternatives. We have given you genuine reasons to use Xero instead of the competitive application and vice versa.
AUTHOR BIO: Priyanka Dwivedi
Priyanka Dwivedi is a digital marketing executive associated with Sagenext infotech. Her passion is to establish and maintain the business' online presence. Apart from work, she is mostly engaged in reading and working on QuickBooks hosting, Cloud computing, and tech trends.
