Top 6 QuickBooks Alternatives for Small Businesses

Posted by Jamshaid Raza on June 26th, 2024

Choosing the right accounting software is crucial for the success of any small business. QuickBooks has been a popular choice for many, but it may not be the perfect fit for everyone due to its pricing, features, or complexity. Luckily, there are several alternatives available that can cater to different business needs. In this blog, we will explore the top six QuickBooks alternatives for small businesses. These alternatives offer robust features, ease of use, and affordability to help you manage your finances effectively. Let's start with an in-depth look at one of the leading options: ZarMoney.

1. ZarMoney

ZarMoney is an all-in-one accounting software designed to meet the needs of small to medium-sized businesses. It offers a comprehensive set of features that streamline accounting processes, making it easier for businesses to manage their finances. ZarMoney stands out for its user-friendly interface, scalability, and affordability.

Features:

• Invoicing

• Expense Tracking

• Inventory Management

• Bank Reconciliation

• Financial Reporting

• Multi-User Access

• Sales Orders

• Purchase Orders

• Tax Management

• Customizable Dashboards

Top 3 Features:

1. Invoicing: 

ZarMoney's invoicing feature allows businesses to create, customize, and send professional invoices to clients quickly, ensuring timely payments.

2. Inventory Management: 

This feature helps businesses maintain optimal inventory levels, preventing stockouts and overstocking, thereby improving operational efficiency.

3. Financial Reporting: 

ZarMoney provides comprehensive financial reports that give businesses valuable insights into their financial health, aiding in strategic decision-making.

Pros:

• User-friendly interface

• Comprehensive feature set

• Affordable pricing plans

• Scalability for growing businesses

• Excellent customer support

• Cloud-based, accessible from anywhere

Cons:

• Limited third-party integrations

• Some advanced features may require a learning curve

Pricing: 

ZarMoney offers flexible pricing plans to accommodate different business sizes and needs. The pricing starts at per user per month, making it an affordable option for small businesses. Additionally, they provide a 14-day free trial, allowing businesses to test the software before committing.

Final Verdict: 

ZarMoney is an excellent QuickBooks alternative for small businesses seeking a robust, user-friendly, and affordable accounting solution. Its comprehensive feature set, combined with its ease of use and scalability, makes it a strong contender in the accounting software market. While it may have some limitations in third-party integrations, its overall benefits outweigh these minor drawbacks. For businesses looking to streamline their accounting processes and gain better financial insights, ZarMoney is definitely worth considering.

2. Xero

Xero is a popular cloud-based accounting software designed for small businesses. Founded in New Zealand, Xero has rapidly gained a global user base thanks to its user-friendly interface and powerful features. It simplifies various accounting tasks, making it easier for small business owners to manage their finances without needing extensive accounting knowledge. Xero offers a range of tools that cover everything from invoicing and payroll to bank reconciliation and financial reporting, making it a comprehensive solution for small businesses.

Features of Xero

• Invoicing

• Bank Reconciliation

• Expense Management

• Inventory Management

• Payroll Processing

• Financial Reporting

• Multi-Currency Support

• Time Tracking

• Project Management

• Mobile App

Top 3 Features of Xero

1. Invoicing: 

Xero allows you to create professional invoices quickly. You can customize templates, send invoices directly from the platform, and set up automated reminders for overdue payments, ensuring you get paid faster.

2. Bank Reconciliation: 

The bank reconciliation feature automatically imports your bank transactions into Xero, matching them with your recorded transactions. This automation saves time and reduces the risk of errors in your financial records.

3. Payroll Processing: 

Xero's payroll processing tools simplify payroll management. The software handles tax calculations, generates payslips, and ensures compliance with local tax regulations, making payroll hassle-free for small business owners.

Pros of Xero

• User-friendly interface suitable for non-accountants

• Comprehensive feature set catering to various business needs

• Strong bank reconciliation capabilities

• Robust reporting tools for informed decision-making

• Excellent mobile app for on-the-go access

• Integrates with over 800 third-party apps

• Scalable to grow with your business

Cons of Xero

• Can be expensive for very small businesses

• Limited customer support options compared to competitors

• Learning curve for some advanced features

• Payroll functionality is not available in all countries

Pricing

Xero offers three pricing plans to cater to different business needs:

• Early Plan: per month – Includes basic functionalities like sending invoices, reconciling bank transactions, and capturing bills and receipts.

• Growing Plan: per month – Adds unlimited invoicing and bills, along with bulk reconciliation.

• Established Plan: per month – Includes multi-currency support, expense claims, and project tracking.

Xero also offers a 30-day free trial for new users to explore the software before committing to a paid plan.

Final Verdict

Xero is a robust and versatile accounting solution for small businesses. Its comprehensive feature set, user-friendly interface, and strong mobile app make it an excellent choice for business owners looking to streamline their financial management. While it may come with a higher price tag for very small businesses and has a learning curve for some features, the benefits it offers in terms of efficiency and ease of use can significantly outweigh these drawbacks. Overall, Xero stands out as a top QuickBooks alternative, providing a reliable and scalable accounting solution for growing businesses.

3. FreshBooks

FreshBooks is a popular accounting software designed specifically for small businesses and freelancers. Known for its user-friendly interface and robust functionality, FreshBooks makes managing invoices, expenses, and time tracking seamless. This software is an excellent alternative to QuickBooks, offering unique features that cater to the specific needs of small businesses.

Features

1. Invoicing

2. Expense Tracking

3. Time Tracking

4. Project Management

5. Reporting

6. Payments

7. Estimates

8. Recurring Billing

9. Mobile App

10. Integrations

Top 3 Features

1. Invoicing: 

FreshBooks offers customizable and professional-looking invoices that can be sent directly to clients via email. You can also set up automated reminders for overdue payments.

2. Expense Tracking: 

This feature allows users to snap photos of receipts and log expenses on the go. It also categorizes expenses automatically, making it easier to track and manage.

3. Time Tracking: 

FreshBooks’ time tracking tool helps you log hours worked on projects. You can then convert these logged hours into invoices, ensuring accurate billing for your clients.

Pros

• User-Friendly Interface

• Excellent Customer Support

• Mobile Accessibility

Cons

• Limited Advanced Features

• Price

Pricing

FreshBooks offers several pricing plans:

• Lite: /month – Suitable for self-employed professionals managing a few clients.

• Plus: /month – Best for small businesses with up to 50 billable clients.

• Premium: /month – Ideal for growing businesses with up to 500 billable clients.

• Select: Custom pricing – For businesses with advanced needs requiring customized solutions.

Final Verdict

FreshBooks is an excellent QuickBooks alternative for small businesses and freelancers who need an easy-to-use, all-in-one accounting solution. Its user-friendly interface, robust feature set, and exceptional customer support make it a strong contender in the accounting software market. While it may lack some advanced features for larger businesses, FreshBooks is a top choice for those looking to streamline their financial management processes.

4. Wave

Wave is a comprehensive financial management software designed for small businesses. It offers a suite of tools for accounting, invoicing, payroll, and more, all aimed at simplifying financial tasks. Best of all, many of Wave's core features are free, making it an attractive choice for small businesses looking to manage their finances without breaking the bank. Let's delve into what Wave offers and why it stands out as a viable QuickBooks alternative.

Features

1. Free Accounting Software

2. Invoicing

3. Receipts

4. Payment

5. Bank Connections

6. Reports

7. Expense Tracking

8. Payroll

9. Multi-Currency Support

10. Customer Support

Top 3 Features

1. Free Accounting Software: 

Wave's accounting tools are free, providing essential financial management without monthly fees. This makes it an excellent option for small businesses operating on a tight budget.

2. Invoicing: 

The invoicing feature allows you to create, customize, and send professional invoices quickly. It also offers automatic payment reminders and recurring billing, ensuring you get paid on time.

3. Payments: 

With Wave Payments, you can accept credit card payments online. The setup is simple, and the fees are transparent, making it easier for you to get paid faster and manage cash flow efficiently.

Pros

• Free Core Features

• User-Friendly Interface

• Comprehensive Financial Management

• Strong Invoicing Capabilities

• Integration with Bank Accounts

Cons

• Limited Scalability

• Customer Support Limitations

• Payroll Limitations

Pricing

Wave's core accounting and invoicing features are free. However, there are fees for additional services:

• Payments: Credit card processing fees are 2.9% + 30¢ per transaction.

• Payroll: Payroll starts at per month plus per employee or independent contractor.

Final Verdict

Wave is a powerful and cost-effective alternative to QuickBooks, especially for small businesses and freelancers. Its free core features, combined with an intuitive interface and robust invoicing capabilities, make it an attractive choice for those looking to streamline their financial management without incurring high costs. However, businesses with more complex needs or those requiring extensive customer support may need to consider other options. Overall, Wave stands out as an excellent choice for small businesses seeking a budget-friendly yet efficient financial management solution.

4. Zoho Books

When it comes to managing your small business finances, finding the right accounting software is crucial. Zoho Books stands out as a robust alternative to QuickBooks, offering a comprehensive suite of features tailored to small business needs. With its intuitive interface, seamless integrations, and a host of powerful tools, Zoho Books provides an efficient solution for managing your financial operations.

Features of Zoho Books

• Invoicing and Estimates

• Expense Tracking

• Bank Reconciliation

• Inventory Management

• Time Tracking

• Project Management

• Sales Orders

• Purchase Orders

• Multi-Currency Support

• Financial Reporting

• Automated Workflows

• Client Portal

Top 3 Features of Zoho Books

1. Invoicing and Estimates: 

Zoho Books allows you to create highly customizable invoices and estimates, making it easy to maintain a professional image. You can also automate recurring invoices and set up payment reminders.

2. Expense Tracking: 

With Zoho Books, you can effortlessly track and categorize your expenses. Upload receipts directly into the software, link them to transactions, and keep your records organized.

3. Inventory Management: 

The software’s inventory management feature helps you keep track of your stock levels, set reorder points, and manage inventory across multiple warehouses, ensuring you never run out of essential items.

Pros of Zoho Books

• User-friendly interface with easy navigation.

• Comprehensive set of features suitable for small businesses.

• Seamless integration with other Zoho apps and third-party applications.

• Multi-currency support for international transactions.

• Strong customer support with various channels for assistance.

Cons of Zoho Books

• Limited scalability for very large businesses.

• Some advanced features may require a learning curve.

• Mobile app functionality could be improved.

Pricing of Zoho Books

Zoho Books offers flexible pricing plans to suit different business needs. The plans include:

• Free Plan: Ideal for businesses with revenue under K per year, limited to one user and one accountant.

• Standard Plan: per month, includes up to three users and essential accounting features.

• Professional Plan: per month, includes up to five users and advanced features like purchase orders and multi-currency support.

• Premium Plan: per month, includes up to ten users and features like vendor portal and custom domain.

• Elite Plan: 0 per month, includes up to ten users and advanced inventory control.

• Ultimate Plan: 5 per month, includes up to fifteen users and custom modules for specific needs.

Final Verdict

Zoho Books is an excellent QuickBooks alternative for small businesses looking for a comprehensive and cost-effective accounting solution. Its wide range of features, ease of use, and strong integration capabilities make it a standout choice. While it may have some limitations for very large businesses, its robust feature set and flexible pricing plans make it a valuable tool for small to medium-sized enterprises. With Zoho Books, you can efficiently manage your finances, streamline your operations, and focus on growing your business.

Sage 50

When it comes to finding a robust accounting software solution for small businesses, Sage 50 stands out as a reliable alternative to QuickBooks. With a strong emphasis on functionality and user-friendliness, Sage 50 offers a comprehensive suite of features designed to streamline financial management, making it an excellent choice for small business owners looking for efficiency and reliability.

Features of Sage 50

• Invoicing and Billing

• Inventory Management

• Payroll Processing

• Financial Reporting

• Tax Management

• Bank Reconciliation

• Cash Flow Management

• Budgeting and Forecasting

• Multi-Currency Support

• Security and Access Control

Top 3 Features of Sage 50

1. Invoicing and Billing: 

Sage 50 allows you to create and send professional invoices and bills, helping you maintain a polished and professional image while ensuring timely payments.

2. Inventory Management: 

The software provides robust inventory management tools, enabling you to track inventory levels, manage stock, and prevent stockouts or overstocking.

3. Financial Reporting: 

Sage 50's financial reporting capabilities allow you to generate detailed financial reports, giving you deeper insights into your business's financial health and aiding in strategic decision-making.

Pros

• Comprehensive Feature Set

• User-Friendly Interface

• Scalability

• Strong Inventory Management

• Reliable Support

Cons

• Cost

• Learning Curve

• Limited Integrations

Pricing

Sage 50 offers different pricing plans to accommodate various business needs. The pricing starts at approximately .08 per month for the Pro Accounting plan, which includes the essential features needed for small businesses. The Premium Accounting plan costs about .58 per month and offers additional features like advanced budgeting and job costing. For businesses with more complex needs, the Quantum Accounting plan is available at around 9.58 per month, providing the full suite of Sage 50 features.

Final Verdict

Sage 50 is a powerful and reliable accounting software solution that serves as a strong alternative to QuickBooks for small businesses. With its comprehensive feature set, user-friendly interface, and robust support, Sage 50 is well-suited for businesses looking for an efficient and scalable financial management tool. While it may come with a higher upfront cost and a slight learning curve, the benefits it offers in terms of functionality and reliability make it a worthwhile investment for small businesses aiming for growth and efficiency.

Best of the Best QuickBooks Alternatives

When it comes to finding the best alternatives to QuickBooks for small businesses, three software solutions stand out due to their comprehensive features, user-friendliness, and overall value: ZarMoney, FreshBooks, and Xero.

1. ZarMoney

ZarMoney takes the top spot as the best alternative to QuickBooks. It offers a wide range of features that cater to the diverse needs of small businesses, including robust invoicing, advanced inventory management, and seamless bank reconciliation. ZarMoney’s user-friendly interface and scalability make it a favorite among small business owners looking for an efficient accounting solution. Additionally, ZarMoney provides excellent customer support and a transparent pricing structure, making it a reliable and cost-effective choice for businesses aiming to streamline their financial operations.

2. FreshBooks

FreshBooks is renowned for its simplicity and ease of use, making it an excellent choice for small businesses and freelancers. It excels in invoicing, time tracking, and expense management, offering a seamless and intuitive user experience. FreshBooks’ mobile app allows business owners to manage their finances on the go, which is particularly beneficial for those who need flexibility. With its strong focus on customer support and continuous feature updates, FreshBooks remains a top contender for businesses seeking an uncomplicated yet powerful accounting solution.

3. Xero

Xero is a powerful cloud-based accounting software that offers a comprehensive set of features suitable for small businesses. It stands out for its excellent bank reconciliation, comprehensive financial reporting, and multi-currency support. Xero's integration capabilities with numerous third-party apps make it highly adaptable to various business needs. The user-friendly interface and extensive support resources ensure that users can easily navigate and utilize the software’s full potential. Xero’s commitment to innovation and its strong global presence make it a top choice for small businesses looking for a reliable and versatile accounting solution.

Conclusion

Choosing the right accounting software is crucial for the success and efficiency of your small business. While QuickBooks remains a popular choice, alternatives like ZarMoney, FreshBooks, and Xero offer robust features that can meet your unique business needs. ZarMoney stands out as the top choice due to its comprehensive functionality, ease of use, and excellent customer support. By exploring these alternatives, you can find the perfect fit for your business, ensuring seamless financial management and paving the way for growth and success

FAQs

1. What makes ZarMoney a good alternative to QuickBooks?

ZarMoney offers a wide range of features, including invoicing, inventory management, and bank reconciliation, with a user-friendly interface and excellent customer support, making it a robust alternative to QuickBooks.

2. Is ZarMoney suitable for small businesses?

Yes, ZarMoney is designed to cater to the needs of small businesses, offering scalable solutions that can grow with your business.

3. How does ZarMoney handle inventory management?

ZarMoney provides advanced inventory management tools that allow you to track inventory levels, manage stock, and prevent overstocking or stockouts, ensuring efficient inventory control.

4. Can I use ZarMoney to generate financial reports?

Absolutely, ZarMoney offers comprehensive financial reporting capabilities, allowing you to generate detailed reports that provide insights into your business’s financial health.

5. Is ZarMoney easy to use for someone without an accounting background?

Yes, ZarMoney features an intuitive and user-friendly interface, making it easy for users without an accounting background to navigate and use effectively.

6. What kind of customer support does ZarMoney offer?

ZarMoney provides excellent customer support, including access to a knowledgeable support team and a wealth of online resources for troubleshooting and learning.

7. How does ZarMoney handle multi-currency transactions?

ZarMoney supports multi-currency transactions, making it easy to handle international business dealings and transactions in different currencies.

8. Is there a mobile app for ZarMoney?

Yes, ZarMoney offers a mobile app that allows you to manage your finances on the go, providing flexibility and convenience for busy business owners.

9. How does ZarMoney’s pricing compare to QuickBooks?

ZarMoney offers a transparent and competitive pricing structure, providing excellent value for the range of features and support it offers, often at a lower cost compared to QuickBooks.

10. Can ZarMoney integrate with other business tools and software?

Yes, ZarMoney has strong integration capabilities, allowing you to connect it with various third-party apps and tools to streamline your business processes further.