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As a business owner, a person wants to manage and track finances customize reports/templates and raise the invoices to the customer's, thanks to intuit who developed an application that allows doing a variety of finances related task which helps business to grow rapidly and makes the job effortless, the application is popularly known as QuickBooks.
In this article, we are going to discuss QuickBooks and it's the most reliable alternatives.
» What Is QuickBooks?
QuickBooks is small and medium-sized enterprise software. It allows the user to manage all the finances, raise invoices, and create reports all at once. It helps to access customer and employee information. It comes with a 30-day free trial and free customer support. Above all the main advantage of QuickBooks is that the data is all organized on the cloud so that the user can track sales, send invoices, and can have a grip on one’s business from anywhere and anytime. With the help of QuickBooks app installed on a mobile phone, it’s effortless to manage a bank account, various transactions, invoice tracking, and dozen of reports in just one single click. Now let's take a look at the QuickBooks interface.
Navigation on the left-hand side can be collapsed on hover and expand when released. On the right side of the screen, a gear icon can be seen that allows you to go into the settings chart of the account. Besides the gear icon, two more icons are placed, one is a search box and the other one is an add-on circle. The search box allows users to search for existing transactions and also see the most recent transactions that have been made and the add-on circle icon allows getting a menu of all the transactions that have been created on the home page.
» Why do we need a QuickBooks Alternative?
QuickBooks may be the most common enterprise app with millions of users. It has been the go-to accounting app for small and average-sized businesses for decades but that doesn't mean it's the perfect fit for every business. QuickBooks have many versions and integration makes it adaptable to almost any situations, but what if you're just looking for a streamlined product that you can use right out of the box? Or what if QuickBooks' basic plan is still over the budget? Or what if you just like working with smaller companies? QuickBooks is one of only eight products to appear on the Top 20 accounting software lists for most popular, most affordable, and most user-friendly, but eleven more accounting tools have an even higher average ranking on the list.
11 Most Trustworthy QuickBooks Alternatives
1. FreshBooks: A Cool Accounting Option
FreshBooks is one of the best cloud solutions for small business and medium-size owners. It’s awarded as a Best Accounting Software for 2019 by FinancesOnline’s. According to CNET magazine, 94% of customers highly recommend FreshBooks. It’s a very cool web application that raises invoices, track expenses, and create reports. With the FreshBooks, one can easily raise invoices on-the-go. In FreshBooks, customers are paid on an average of five days or faster as a result; customers spend less time on paperwork.
› Special Features:
• Time Saver: It can manage payments collection to invoice reminders on its own, giving more time to a business owner to brush up ideas on building up his empire!!
• Robust Reports: Hold your financials closely watched with informative analyses to enable you to make better investment decisions.
• Multiple ways to get paid: To make a payment is not more a headache. A user can make payments to clients from various sources.
› Pricing
• You can have a subscription of FreshBooks at $15 per month. FreshBooks comes with a free trial.
2. Sage: A ‘Wise’ alternative
Sage is the most advanced small business accounting software. It makes painless to get paid. Invoices can be quickly raised for the customers and instantly receive the payment directly to bank account wherever they are. It’s easy to track the progress of invoices as a result it always known where a user stands with the customers and payments.
With automated bookkeeping, Sage focus on what matters most and there's no need to worry about losing receipts either you can just snap them directly to Sage and with the auto entry by Sage, all the receipt information is automatically extracted categorized and posted to Sage accounting with complete accuracy so there is no need to manually enter data again.
› Special Features:
• Accounting: Manage invoicing, cash management, payroll, fees, and more.
• Forecast cash flow: This feature allows a user to see how much money comes in and out every month.
• Send and track invoices: Get billed on time and with secured invoices so it can monitor your cash flow.
› Pricing
Sage comes up with two pricing options:
1.) An Accounting Start: In this package, the cash flows are managed. This package costs $10/ month.
2.) Accounting: In this package, invoices can be raised, managing cash flows, and accrual entries. This package costs $25/ month.
3. Xero but a ‘Hero’
Xero's is the most authentic online accounting solution that allows you to work from anywhere, share stuff with team staff, and collaborate with your consultants. It helps to raise an invoice to the customers and manages all finance-related tasks.
› Special Features:
• Invoicing: Quickly raise invoices to the customers by using replicating previous invoices, preset inventory items, and setting up repeating invoices.
• Inventory: Easily add items in invoices and orders.
• User-friendly Dashboard: Manage and track cash progress at customizable Xero dashboard.
• Bank Connections: Easily accept payments directly to the bank account.
• Xero Expenses: Easily record, and manage payments and receipts.
› Pricing
Xero comes with three prices variant:
• Starter: 20$/month
• Standard: 30$/month
• Premium: 40$/month
4. Wave Accounting: Choose it to Save money!!
Wave Accounting was released in 2009 and has become a widely successful free accounting application. This has over three and a half million customers and it's a perfect choice for small companies seeking to get going with easy-to-use accounting software without investing a dime on it. Users love that Wave is free, multi-functional accounting software with no limits on transactions or users.
› Special Features:
• Robust Software: Manage income and expenses. Monitor everything and link it to other Wave items like salaries, payments, and invoicing. Everything is integrated, in one single package.
• Raise Invoices: This software helps to build and deliver invoices quickly, with advanced features such as ongoing billing and automated payments.
› Pricing
• Free Of Cost
5. Indy: The Amazing one for Invoicing
Indy is a brilliant option for freelancers or independent contractors. Its suite of tools includes an integrated Invoices Tool. Using this, you can create and send invoices in moments. Connect to the entire package to issue contracts, track your time, use multiple hourly rates, and take payment through the most common methods.
› Special Features:
• Part of a suite of tools. Indy’s Invoices tool is part of the whole package. You can use them all together to streamline your entire business admin workflow.
• Easy to use. Indy focuses on being easy to use for freelancers. This isn’t a complete bookkeeping package, but a simple invoice and payments solution.
› Pricing
• Indy’s Free plan gives you free unlimited access to all the basic tools you need to manage your business.
• $12/month for Pro Bundle.
6. Zoho Books: The Best option for GST
Zoho Books is accounting software that lets you send invoices, record purchase invoices, reconcile the bank transaction, track inventory, and generate reports on time and file your return effortlessly.
› Special Features:
• Design invoices in seconds.
• Chase payments quickly with payment prompts.
• Customers can pay online and get paid faster.
› Pricing
• Basic - $ 09 /month
• Standard - $19 /month
• Premium - $29/month
7. FreeAgent: Friend of Freelancers
FreeAgent is an online accounting software basically for freelancers and small businesses. With the help of FreeAgent, a user can increase invoices, control expenditures, and sales tax at once. FreeAgent allows users to upload pictures of the receipt. A person can connect their bank account and automatically send transactions right into accounts every day with Bank Feeds.
› Special Features:
• Beautiful Templates: Design super quick estimates with good looking templates
• WatchDog: Keep tabs on the profitability of your project
• User-Friendly Dashboard: A dashboard, of how to do the job, monitor KPIs, indicators, and other important data points that are applicable to a specific company, department, or process
› Pricing
• Six months for $10/month, then $20/month
8. Kashoo: A great pick for Small Business
You don't need to learn accounting to start your career as a business owner, thanks to Jim Secord who developed a wonderful app that helps to do all the heavy accounting lifts. Many small companies are tiny, genuinely tiny, with 500 or fewer sales in one year, Kashoo is perfect for owner-operators, consultants, freelancers, emerging experts, and all other truly small companies.
› Special Features:
• Quickly Generate Reports: Automated reports that change immediately as you run your business.
• Robust Machines: Machines know the business and do the work that you can't hold up to.
• Fast Invoices: Quickly raise invoices
› Pricing
• $16.65 / month Up of 14-Days Free Trial. $19.95 / month.
9. Odoo Accounting: Get, Set & Do!!
Odoo is a completely integrated and customizable open-source suite of business applications including sales, CRM, project management, production, inventory, accounting, and other business needs. Odoo has been built to meet company demands of all sizes and budgets. It helps to get paid faster, build invoices automatically from sales orders, generate a statement of your earnings, cash flow, or balance sheet.
› Special Features:
• Bank Synchronization: Automatically synced with your bank, or import files.
• Manage Bills & Expenses: Check invoices from vendors to have a simple estimation of the potential bills to pay.
• Invoicing: Build clean, detailed invoices, handle ongoing expenses, and monitor payments quickly.
• Easy Reconciliation: With the smart tool it helps us to automate 95% of reconciliation.
› Pricing:
• $6.00/month billed annually, $7.50/month billed monthly.
10. Holded: For this everyone nodded !!
Holded is an accountant software for modern business. It allows easily download and display all of the business's financial expenses in a logbook. You can get a full rundown of expenditures and profits, using Holded's invoicing tool. Accurate accountancy reporting, get instant contract info, invoice amounts, times, fees, and much more can be achieved do with it.
› Special Features:
• Bank consolidation which will save your hours: Holded allows us to connect banks and keep the details 100% secure.
• Economic statement at a moment: See the real-time gains and expenses — and you can monitor weekly
› Pricing
Holded comes with 14 days free trial and with 4 best pricing options.
• Free 0€ /month
• Starter 10€/month
• Standard 25€/month
• Pro 50€/month
11. myBooks: New kid in the block
myBooks is one of the new accounting software available for small and medium-sized businesses. It boasts a super-simple interface, highly affordable, and fast. It has a comprehensive set of features for all types of businesses like Invoicing, Expense & Inventory management. Further, it has great apps for iOS and Android platforms. You can seamlessly transfer your data from Quickbooks or other accounting software through excel file upload.
› Special Features:
• Ease of Use: myBooks is designed to be used by business owners and entrepreneurs very intuitive and easy to use and you need very less time managing business accounts.
• Inventory Management: myBooks has comprehensive inventory management with FIFO costing built right into accounting, you can account for all your business stock easily from the myBooks app.
• Business Finance on Autopilot: Automate many clerical bookkeeping tasks like sending overdue reminders, running reports with myBooks.
› Pricing
• myBooks costs just $4.99 for standard edition per month and comes with 30 days free trial.
12. Plooto: All in one motto!!
Plooto is a seamless payment platform that integrates payments, approvals, reconciliation and reporting to provide greater financial transparency and convenience. Plooto is secure, and less expensive payment solutions which allow you to add & manage the clients from one place. The user can raise invoices, accept payments, generate reports, and manage the finances from a single tool.
› Special Features:
• Efficient Accounts: If you're making a one-off deposit from a potential client, or debiting a consumer's bank account, Plooto makes it easier to have assurance over the cash flow.
• Easy receivable accounts: Using the same method to compensate everyone, whether domestic or foreign, consumer, or salesperson.
› Pricing
• Plooto offers 30 days of free trial. With a $25 a month subscription, you’ll get exclusive exposure to all the wonderful functionality of Plooto, including Enhanced AP, AR & Payment Management.
12. NCH Express Accounts: An ‘Express Train’ for a business
Express Accounting is an advanced accounting program and is suitable for small companies/businesses. It monitors your payment and deposit purchases. It displays balance sheets and accounts to see how the business is working.
› Special Features:
• Sales and Tax Receivables: It generates quotes, purchase requests, and invoices. Recurring orders and invoices are registered automatically.
• Generate Reports: Easily generate over 20 primary financial reports at once.
• Accounts Payable: Maintain payroll reports, and pay expenses
› Pricing
• N/A
To sum up, your financial data is a critical part of your business, and if you choose the wrong method or set it up incorrectly, it will take hours of your time to handle financial data. There are plenty of options there, so make sure to choose the most effective product for the job. Choosing the right product will help the company achieve the best results possible.
Frequently Asked Questions (FAQs)
What is QuickBooks and how does it work?
QuickBooks is an online accounting software mainly used by small and medium-sized businesses. It can accept payments online, manage and pay the bills for businesses, and do other payroll functions.
How much does QuickBooks cost?
QuickBooks online version costs you $25vper month and lets you use the software smoothly with its friendly UI, which also has a moderate customer support and reviews and excellent integrations. The QuickBooks Desktop plan costs $299.95 with good reviews and integrations, but its UI and usage are not that great.
Which is better QuickBooks or XERO?
Xero is better than QuickBooks as it offers additional services like invoicing and tax management. It also has better customization. Xero is undoubtedly the best alternative for a small business.
What are some good QuickBooks alternatives?
- Sage
- Xero
- FreshBooks
- Wave Accounting
- Zoho Books
- FreeAgent
- Kashoo
- Odoo Accounting
- Holded
- Plooto
- NCH Express Accounts
Is there a free alternative to QuickBooks?
Wave is the free alternative of QuickBooks. It is user-friendly and provides a receipt for every expense that occurred. It can generate professional-looking invoices, and it allows credit card payment and offers free financial estimates. If you are looking for one free alternative to QuickBooks, it can be your choice.
