In this article, we provide you Best QuickBooks Alternatives for your Small Businesses. Bookkeeping, Accounting, and Invoicing form a major part of organizations of all sizes and shapes. Ranging from Startups to Full blown corporate organizations, handling the invoicing and accounting part of the business is simply as important to ensure smoother operations. Gone are the times of Physical bookkeeping, which are likely to get lost or damaged due to unforeseen circumstances.
With the arrival of technology, bookkeeping and invoicing have taken the digital route, making it simpler for companies to keep a more reliable record of their accounts. Standalone software was the start of digital Bookkeeping and accounting tools, and now they have taken the cloud-based route. Several tools are possible for this task, but one particularly famous tool is QuickBooks and QuickBooks Online.
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Why do we Require an Alternative to QuickBooks?
QuickBooks is 1 of the most widely accepted Bookkeeping and Accounting tools, trusted by thousands of businesses and individuals alike. QuickBooks and Quicken Online are its individual-bookkeeping and cloud-based accounting tools, respectively. While QuickBooks particularly is not bad, things get a bit problematic when QuickBooks Online is considered. Their cloud-based tool is much clumsy and cumbersome to handle, lacking a proper approach to User Experience. It suffers from a lack of proper Bank Re-conciliation, which forms 1 of the important aspects of a business.
Its expensive price tag and sufficiently inadequate ease-of-use are 1 of the many reasons thousands of users are flocking to their alternatives. Their rivals are reporting that many of their new users were previously based on QuickBooks.
Best QuickBooks Alternatives & Competitors For Businesses
Therefore, you must be pretty much getting the gist of everything behind the troubles associated with QuickBook, and we’ll be taking a look at some of the best alternatives to it. Here are the 5 Best QuickBooks Alternatives.
Wave
Wave Apps’ Accounting is 1 of the best free accounting and invoicing apps for startups and Small businesses with less than ten employees on board. For more number of workers, their premium plans would have to be called into action. Wave Accounting gives all of the key accounting and invoicing tools you would ever need on their cloud-based network. Everything is simply accessible through their dashboard, and keeping track of invoices, expenses, or other reports is straightforward. Recurring expenses, Statements, and Estimates are some of the key Invoicing features in the Wave Accounting application. Tracking past transactions is simple, with Wave Apps giving a way to sync your Bank account with its tool, doing away with any significant manual entry of data to the app.
Using its iOS and Android apps, Bills could be pictured and stored in your Wave Applications Accounting profile. Adding Bills with due dates and maintaining Accounts in Assets/Liabilities is much easier with Wave Apps Accounting. These Accounts could likewise be easily exported as a CSV or Excel Spreadsheet. Wave Accounting Reports present Balance Sheet, Income tax statement, Profit and Loss reports, and much more automatically. You can manage payrolls of your employees with Wave Accounting, provided that they are based in the US or Canada, for obvious taxation reasons. Wave Accounting is the best QuickBooks Alternatives and makes sense for small businesses who could utilize the tool for free, given their lower number of employees.
Features: Bill/Invoice reminders, Professional reports, Invoicing and Payroll management, Connect with bank accounts for auto-entries, Bank Reconciliation, Expense tracking, and more.
Platforms Supported: Web-based
Xero
Xero Invoicing and Accounting is a cloud-based tool that allows iOS and Android applications to manage invoices and accounts on the go. With over 500000 subscribers to its name, Xero is a great accounting and invoicing tool, just next to QuickBooks in terms of the number of subscribers. It gives a comprehensive accounting and invoicing resolution to businesses of all shapes and sizes. Online account management, Inventory management, Auto Bank reconciliation, and Smart reports are some of the key features of Xero. Its users generally praise it for its ease-of-use and a clean User Interface that does not make you search for tasks.
The creation of Invoices is 1 of the key prime areas of Xero, with a detailed Invoice layout to its name. The Invoicing structure in Xero gives an option to add Discounts to individual terms, unlike the Discount on the whole bill found in many other invoicing tools. Aside from Invoicing, Quotes are another key feature that lets you give a cost estimate to your clients before billing them out. Scheduling payments and handling expenses are pretty easy with Xero. This tool’s dashboard makes it simpler to overlook all the projects at hand and provides simplicity to the management of your accounts. Xero further supports employee and 3rd-party payroll creation. Continue track of all of your bills by adding them to your Bills segment, along with a Due Date associated with them. All in all, 1 of the most preferred Bookkeeping, Accounting, and Invoicing tool right after QuickBooks is Xero. The Best QuickBooks Alternatives.
Features: 3rd Party integrations, Bank re-conciliations, Invoicing, Reports, Overview Dashboard, Payments, and more.
Platforms Supported: Web-Based, iPhone/iPad, and Android Apps.
FreeAgent
If you’re a freelancer or a small business looking for a tool to simply handle your accounting & tax-related activities, FreeAgent should be the best fit for your needs. FreeAgent has got you covered on all fronts with tools tackling Invoice and Estimate creator to generating Sales Tax reports for your business. The dashboard gives a collective view of all the ongoing processes in a single place and enables you to branch out to your choice of action. This dashboard gives a birds eye view of Profits/Loss, cash flow, and an invoice timeline. Estimates are much common among freelancers and small businesses, and FreeAgent allows you to create multi-currency and multilingual professional estimates in minutes. This is the Similar to QuickBooks.
Elegantly designed Invoices could be selected from the templates provided by FreeAgent, and they could be sent off to the customers after adding in the particular details to it. A drink on the going daily could still add to your costs, and you somehow might miss on your calculations. FreeAgent makes it effortless to track expenses of all kinds, both for your business and your finance management. Manage your projects efficiently and, along with all of your expenses and invoices tracked, see if they’re on the right track and churning out profits. Timesheet reporting is 1 of the unique feature on FreeAgent, and you can now trace all of your billed time running on projects. Automatic bank transaction invoicing, automated accounting, and simple generation of sales tax reports are some of the key traits that are the icing on the cake for FreeAgent users.
Features: Invoicing, Billing, Expenses, Tax estimates, Time tracking, Banking, Projects, and more.
Platforms Supported: Web-based
GNUcash
GnuCash is an open source, multi-platform tool for all of your financial accounting requirements. If advanced premium online or desktop accounting tools are what you are not looking for, GNUcash is the best open-source alternative to QuickBooks and the like. It is the most comprehensive accounting open source software that also features its Android app. Transactions involved in all small companies are a two-way process – Expenses and Income. To perfectly attuned to Assets and Liabilities requires Double Entry management, provided by GNUcash. A Register is further included with GNUcash that makes it easy to track financial transactions within an organization. Utilizing this tool, you can also take care of recurring transactions by scheduling them properly in advance of their due dates.
GNUcash produces automated reports for Tax Summary, Profit and Loss, and more. It goes to even include Bar-charts and Scatter Plot graphs to easily visualize the accounting situation. Cash flow categorization and Account reconciliation make assured that your transactions are on track. Invoicing, Payrolls, Mortgage assistant, Support for multiple currencies, Localization, Bill Payment, Report Import/Export, and many other traits make GNUcash nothing less of a full blown Premium accounting product. Being an open source tool with a big developer community to back it, GNUcash is 1 great free QuickBooks Alternatives.
Features: Register, Graphs, Financial calculations, Bonds/Mutual funds accounts management, Assets and Liabilities management with Double Entry, Reports, Bank reconciliation, Reports, Scheduling transactions, and more.
Platforms Supported: Linux, Mac OS X, Windows, and Android App.
FreshBooks
FreshBooks is 1 of the biggest QuickBooks Alternatives and gives tools that are well taken to by small businesses and corporate(s) alike. This premium accounting and invoicing tool allow a completely web-based solution to your accounting needs and allow Android and iOS apps to manage accounts and invoices on the go. You can create a new Client, Expenses, Estimate, Invoice, Payment, or a New Project on the home page. For making Invoices, you would need to build a Client and then head over to the Invoices tab shown above to get started. You can add tasks, Discounts, Items, Taxes, and much more to these invoices.
You can likewise make invoices on recurring payments to certain clients and also track payments. Give your clients an Estimate for a particular task or item, get it approved, and then convert it into an invoice for collecting payment for the same. Tracking expenses is simple with FreshBooks, and Time Sheet provides time-tracking of projects for their billed time. Reports creation, including Invoice details, Profit and Loss reports, and Tax Summary, are some of the many reports that could be created utilizing FreshBooks. The mobile apps make it easy to manage invoices and accounts on the go. Better tracking, Faster payments, and an award-winning customer support team make FreshBooks 1 great alternative to QuickBooks.
Features: Recurring expenses, Accept Payments, Auto Payment Reminders, Team Timesheets, Import Expenses, Send Invoices, Profit and Loss, Tax Summary, and more.
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Platforms Supported: Web-based, Android, and iOS Apps.
What do you think of these Invoicing and Accounting tools for your Small Business, Startup, or personal financial tracking needs? Share your views and comments regarding these tools below.
