What's Better Than Quickbooks?

What's Better Than Quickbooks? | Accounting Smarts
Charles Hall

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Charles Hall

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August 30, 2022

QuickBooks is arguably the most popularly used accounting software on the market. But we get asked all the time, are they really the best software solution?

QuickBooks is arguably the most popularly used accounting software on the market. But we get asked all the time, are they really the best software solution?

Everybody needs something different and the specific requirements for you and your business determine the best accounting software for you. QuickBooks is one of the top products, but Xero is the best overall alternative to QuickBooks. Other reliable options with excellent pricing and invoicing features include Wave Financial and FreshBooks.

QuickBooks consistently ranks atop the list of best business accounting software every year. They can accommodate a wide range of businesses with reliable features and affordable pricing. They also make it a point to provide multiple software options including a downloadable desktop solution or a cloud-based platform for users to access.

Our team has tested many different accounting software options to analyze the available features. QuickBooks has many features that make it so appealing to small business owners. However, there are some downsides to this software as well. Keep reading to learn what the best overall option is.

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What's Better Than Quickbooks?

Quickbooks has been around for decades, providing small businesses with the tools they need to stay afloat in their competitive marketplaces. However, there are plenty of other options on the market that offer additional features and services that differ from Quickbooks offerings.

The best option for business owners who want powerful accounting software with custom reporting and tax integration capabilities would be something like Xero or FreshBooks. However, QuickBooks does provide a wider range of features.

We have laid out the five best alternatives and what they specialize in for you to consider for your own business needs.  

Xero - Best Overall Alternative

Xero is a popular software that helps small and medium-sized businesses run their accounting, payroll, invoicing, and bookkeeping processes. It is an online platform with cloud-based features that can be accessed from any device.

We rank it as the best overall alternative to QuickBooks because of its affordable pricing and an extensive list of features.

Xero also offers digital invoicing and receipts which helps save time as well as money. You can even automate tracking of your income and expenses by creating rules to track transactions made in your linked bank accounts and credit cards.

This software helps small business owners and freelancers to keep track of their income, assets, liabilities, expenses, revenue, and profits.

Users with Xero also have the tools for creating reports and tax forms, invoices and statements for clients, reminders, and alerts about payments due, tracking expenses, and managing inventory. The entire array of resources available is extensive to cover all aspects of your businesses’ financials.

Xero does not offer the same level of integration as a competitor like QuickBooks. Still, the pricing remains low enough to entice even the smallest businesses with plans starting at $11/mo.

One of the most influential integrations available is the ability to sync your Xero account directly with Gusto. This allows all payroll activities and other HR-related tasks to be synced together and handled in one place for more seamless operations.  

Wave Financial - Best Budget Alternative

Wave Financial is a popular accounting software that has many features to help you track your finances, manage payments, and create invoices. We consider this the best budget alternative to QuickBooks because they even offer free access to a reliable invoicing tool for new business owners and freelancers.

Wave has many different tools for both personal and business use. These tools include expense tracking, bill tracking, invoicing, time recording, managing payments, and more. As an accountant or business owner using Wave, you’ll find it very easy to keep your finances organized and on track. 

Wave has it all, though. As you start to increase your usage, paid plans begin allowing you to get familiar with more advanced features. Wave can directly integrate with payment apps and can even act as its own payment gateway for businesses to send and receive payments directly within the platform.

The objective of Wave is to create an easy-to-use software for beginners. The setup process takes only a few minutes, with plenty of resources available for new users to learn how to properly use all of the available features included with their plan.

Pricing starts as free for the invoicing tool and basic accounting access. If you need to start accessing payments and payroll, plans to scale up, but costs still remain affordable.

FreshBooks - Best Invoicing Alternative

FreshBooks ranks near the top as one of the most popular accounting software options. It is a cloud-based accounting software that helps businesses to manage their finances and taxes. It also has an easy-to-use interface designed for business owners, freelancers, and other professionals.

It is easy to use because it provides automatic invoicing templates; you can also customize the templates with your own information, such as your logo. The interface’s simplicity makes it user-friendly for those who are not familiar with accounting software.

Another benefit of using this software is that it automatically sends you reminders when tax deadlines are approaching. It also comes with a mobile app for iPhone and Android devices so you can track expenses on the go.

This software is best suited for small businesses. It is a convenient and affordable option, but it does not have the features for larger companies like QuickBooks can offer.

One of the most important features that this product offers is time tracking which helps users track their hours throughout the day. This feature is best suited for freelancers completing hourly projects and smaller businesses that put an emphasis on tracking time. However, it can be widely used in an organization too for payroll.

Sage Accounting - Best Alternative For Growing Businesses

Sage Accounting is an accounting software that is designed to help small and midsize businesses. It provides a comprehensive dashboard of all your company’s expenses, income, and budgets. It also allows you to set goals, create budgets, and make sure you stay on track with your financial forecasts.

We love Sage Accounting for its affordable pricing and plans that are designed to best suit growing businesses. If you are looking for a platform that can allow you to scale, Sage Accounting is the best option mentioned here.

Sage Accounting has many unique features that set it apart from other accounting programs on the market. The most notable feature is its interactive dashboard which allows users to view their company’s budget alongside their income and expenses. This allows for thorough financial planning at all times.

Another interesting feature of Sage Accounting is its pre-built templates which allow users to create invoices, bills, expense reports, purchase orders, etc., in a matter of minutes instead of hours or days.

The software allows you to make tax and financial filings and offers many useful features such as payroll functions, timesheets, invoicing, and many more. The end-to-end solutions offered by Sage Accounting have made it one of the most popular accounting software packages available today.

Zoho Books - Best Alternative For Freelancers

Zoho Books is one of the most popular accounting software in the freelancing industry. It provides features like invoicing, time tracking, and payment management. It also offers integrations with other critical apps that make your business run.

Zoho Books is a great accounting software for freelancers who need to manage their business effectively with ease. With so many user-friendly features, it’s easy to understand why it has gained so much popularity among freelance writers and small businesses alike.

If you're looking for accounting software that can help you manage your personal finances, Zoho Books is an affordable option with lots of benefits. It even comes with an automatic tax estimator tool, which can help you avoid any unexpected taxes.

The best part about this software is its ability as a business owner to manage complex tasks like tracking income and expenses. You can even create rules to automate this process and categorize future expenses.

Zoho Books even includes a built-in spreadsheet, invoicing, and advanced reporting to allow you full visibility into how things are running.

Is QuickBooks The Best?

QuickBooks is one of the best accounting software that can help you earn more money by giving you access to your data on the go. The program has several features that make it easier for the users to manage their business accounts, like invoicing, payroll and reporting.

While we consider many of the alternatives mentioned as excellent products, we would still rank QuickBooks as the number one overall business accounting software.

QuickBooks provides the most extensive list of features while maintaining low pricing at all tiers. They make it easy to scale your business with the software, and each plan is perfectly crafted to fit a specific-sized business. QuickBooks has found a way to serve the entire business accounting market with multiple software plan offerings.

Suppose you were to decide to move away from QuickBooks. In that case, we consider Xero to be the best overall alternative due to the similar pricing structure and plenty of features to make it a reliable option to grow and maintain your business finances.

Charles Hall

Charles Hall

Charles has spent 25 plus years in the world of accounting and business. His experience includes working as a CPA/Auditor international accounting firms. He has worked as a controller and as a COO for small to medium sized companies.

Learn more about Charles Hall