QuickBooks is one of the most popular accounting software solutions for small businesses, but that doesn’t mean it’s the best one. Each business has unique needs when it comes to accounting software, and as a result, there are plenty of alternatives to QuickBooks out there. Some of them are cheaper, some have more features, and some are even simpler to use. Here are some of the best Quickbooks alternatives for small businesses.
Square Invoices
First, let’s start off with a simple alternative that’s great for startups and small businesses: Square Invoices.
You are likely already familiar with Square. It proves the small card readers that businesses use with their phones at events. Square also has full-sized POS systems that businesses use in stores. Alongside those tools, Square offers card processing and accounting services so that small businesses can bring all of their transaction processing under one company.
This is a simple online accounting software solution that comes at a very low cost. It’s almost free, actually – you pay per transaction:
- 2.75% per debit card transaction
- 2.9% for credit card transactions (no matter how much the customer spends)
That’s a really low cost for a basic accounting software solution that’s super easy to use. It comes with all the basics, like managing customer information and tracking invoices, but it also has a few extras, like sales tax tracking and even analytics.
FreshBooks
Next, we’ll talk about FreshBooks, which is one of the most popular QuickBooks alternatives out there. FreshBooks is a cloud accounting software solution that’s used by small businesses all over the world. It’s been around for a few years now, and it was actually one of the first accounting software solutions that started being used as a QuickBooks alternative.
FreshBooks is super easy to use. It’s been designed with the needs of small business owners in mind, so it’s intuitive and easy to navigate. In fact, the software was built with a team of usability experts who’ve spent years studying how people interact with software.
FreshBooks is all about making bookkeeping and accounting simple for small businesses. It comes with everything you’d expect from an accounting software solution, but it also has a few extras like online payment tracking and a project management feature.
Zoho Invoices
Next, let’s talk about a QuickBooks alternative that’s been growing in popularity over the last few years: Zoho Invoices.
Zoho is a software-as-a-service company, which means they host their accounting software in the cloud and you access it online. This makes Zoho a great QuickBooks alternative for small businesses that don’t want to deal with managing their own servers and technical stuff.
Zoho Invoices is fully integrated with other Zoho products, which means you can use it as part of a larger workflow if you need to. For example, you can use Zoho’s CRM to organize your sales leads, and then you can use Zoho Invoices to produce a quote and track when your customers are due to pay.
Xero
Next, let’s talk about one of the most popular QuickBooks alternatives: Xero. Xero is one of the first companies to build an accounting software solution that wasn’t based on QuickBooks.
Xero is a fully cloud-based accounting software solution. It comes with all the basics like managing your customers and billable hours, but it also has a few extras like inventory management and even freight tracking.
This means that all of your data lives in one place and you can use it to manage your entire business. You can use it to manage your sales and marketing activities, as well as your customer support and even your financial products.
Invoice Ninja
Invoice Ninja is a cloud accounting software solution designed for small businesses. It’s a fully integrated solution that you connect to your bank account and manage your finances from inside the software.
Invoice Ninja is super easy to use. It’s built for people who don’t necessarily have a background in accounting. Even if you’re new to business, you can probably figure it out. Invoice Ninja is great for managing your finances and producing professional-looking invoices. It also has support for things like expenses and payroll if you need those features.
Sage
Next, let’s talk about one of the oldest and most established QuickBooks alternatives out there: Sage.
Sage has been around for years, and it started out as a desktop accounting software solution. Now, it’s a fully cloud-based accounting software solution that is accessible on any device. Sage is a fully integrated accounting software solution. This means that you use it to manage your entire business and not just your finances. For example, you can use it to manage your customer relationships, your marketing activities, and even your warehouse if you have one.
Sage is a very robust accounting software solution for larger businesses. If you have a larger business or one that is growing rapidly and you need a fully integrated solution that can provide deeper insights, Sage is a great choice.
Wave Accounting
Next, let’s talk about another robust accounting software solution: Wave Accounting.
Wave Accounting is a fully integrated accounting software solution. It is for medium-sized businesses. Although it’s for businesses that are a bit larger than those that use Sage, it’s also very easy to use.
Wave Accounting is also an excellent choice for businesses outside the U.S. because it can be used in almost any country around the world. Wave Accounting is for modern businesses in mind, so it comes with features like AI-powered reporting, integrated money management, and even a project planning feature.
Bansai
Finally, let’s talk about one of the simplest QuickBooks alternatives on the market: Bansai.
Bansai is a fully cloud-based accounting software solution built with simplicity in mind. It has a visual approach to accounting, which means you can literally see your finances as visual graphs and charts. This makes it an excellent solution for non-accountants who need an easy-to-use accounting software solution.
It’s for small businesses and freelancers who want to manage their finances but don’t want to deal with something overly complicated. Bansai is a fully integrated accounting software solution. This means that you can use it to manage all aspects of your business from one place. It has a built-in CRM, so you can organize your sales leads and also manage your customer relationships from inside the software.
Why Quickbooks May Not Be the Best For Small Businesses
If you’re thinking about using QuickBooks for your business, you should be aware that there are a few things to watch out for. While it’s a great accounting software solution, it’s not the best choice for every business out there.
First, QuickBooks is for businesses that sell to other businesses. If you have a B2B business, it can be a great option. If not, you may want to consider one of the other QuickBooks alternatives on this list.
There are also some issues with scaling as you grow as a business. QuickBooks is for smaller companies. If you have a larger business with more complex accounting needs, you may run into issues.
Another reason to consider an alternative is that QuickBooks is very popular and has been around for a while. Because of this, it can charge customers more and may be out of the price range for small businesses.
What Do Small Businesses Need In Accounting Software?
In practice, small businesses don’t need much from their accounting software. There are, however, a few things that are essential.
Collect Data Directly
Your accounting software needs to be able to collect data directly from the source. Then you won’t have to input all of the information yourself. As a small business person, you likely don’t have time to manually enter all of your transactions. Choose an option that will take data from a POS system directly.
Provide Reports
Reporting is a major part of accounting. Your accounting software option should have some method of generating different reports for you and for other entities.
Make It Easy to Submit Reports to the Government
Your software should generate reports for the government. These reports must be accurate and easy to assemble so that you don’t struggle to get them in on time.
Rely on Third-Party Services to Make Your Business Better
Accounting software is not the only service that your company needs. Small businesses swamped with phone calls benefit from having an answering service. Having your after-hours calls managed means better relationships with clients and faster customer service.
Ready to work with a professional answering service? Contact Answer Aide by calling (866) 427-3500 or by filling out our online form. We’re happy to partner with you to support your business while it grows.