Business accounting is a complicated process. Recurring invoices, payment processing, expense tracking, cash flow management, bookkeeping – the list goes on. While managing it can be stressful, accounting is an indispensable part of your business. It helps you ensure sound financial management and improve your bottom line effectively.
Manual accounting processes will strain your limited resources if you run a small business. In this case, online accounting software is handy because it automates and accelerates your accounting system.
Small business owners can rely on the online accounting software to send invoices, pay bills, reconcile their accounts, calculate tax, and maintain audit trails, among other functions. For instance, it can leverage automation to detect a double entry in your book.
Then, it sends you an alert, allowing you to fix the mistake on time. The upshot? You no longer have to spend hours reviewing your books to identify inaccuracies!
Sage Accounting is one such online accounting software that helps simplify and streamline your small business's accounting system. But if you are looking for Sage Accounting alternatives, you already know that.
Sage offers flexibility and rich accounting features. However, Sage Accounting does not cater to every business need despite its good functionality. As a result, it may fall short of your expectations if, for instance, you want a cheaper tool or quick implementation time.
What you can do, then, is look into Sage Accounting competitors, explore their functions and decide if any fits your requirements better.
This blog will explore the top 4 alternatives to Sage Accounting. But, before we do that, let's have a quick overview of Sage Accounting so you can compare and contrast and make an informed buying decision.
Sage Accounting – An Overview
Sage Business Cloud Accounting is software for accounting and bookkeeping purposes. The tool comes in handy for multiple accounting functions, including but not limited to invoicing and billing, expense tracking, project accounting, and cash flow management. You can also use it for inventory tracking and financial analysis. Download the app and use it on your phone for quick remote access to your books.
While Sage is safe for bookkeeping and accounting purposes, it may fall short if you want to cater to other operations such as purchase orders, time tracking, and payroll management. Some users also find it slow and difficult to learn. In addition, the reporting feature generates complex financial reports which are hard to customize. Therefore, small businesses with extensive needs and require more affordable plans might want to explore alternatives to Sage.
Key Features
- Accounts payable and receivable
- ACH payment processing
- Bank reconciliation
- Billing & invoicing
- Cash management
- Check processing
- Customer statements
- Expense tracking
- Online payments
- Overpayment processing
- Partial payments
- Payment collection
- Project accounting
- Receivables ledger
- Recurring/subscription billing
- Tax management
Pros
- Its basic plan has limited functions, making it more suitable for freelancers rather than small businesses.
- It provides multiple payment processing options.
- It provides a consolidated platform to facilitate multiple users.
Cons
- It has a steep learning curve.
- Its user interface appears clunky and outdated.
- It does not offer automation for recurring invoices.
Pricing
Sage has the below pricing tiers:
- Accounting Start: £12/ month
- Accounting Standard: £26/ month
- Accounting Plus: £33/ month
- The app offers a free trial for one month on all its plans.
Top 4 Sage Accounting Alternatives
Below is our list of Sage Accounting competitors that give the tool a run for its money. Read on to discover the one that fits your needs like a glove.
1. ZarMoney
As compared to Sage Accounting, ZarMoney ranks higher in terms of ease of use, features, and value for money. If you are looking for a top to bottom accounting platform, ZarMoney is it. It performs basic functions required by small businesses like invoicing, billing, expense tracking, and bank reconciliation. However, it is just as excellent at completing advanced functions like automated tax calculation, contingency billing, partial payments, and overpayment processing. Find a comparison table of ZarMoney and Sage Accounting here.
ZarMoney is a cloud-based accounting app through which you can automate your accounting process seamlessly. It stores your accounting information on a secure online database, allowing you to access the records remotely. You can add IP restrictions, however. It also creates visual financial reports to give insights into your financial performance. The data-based reports help you take proactive steps to ensure optimal cash flow.
Use ZarMoney if you require accounting features and functions on a single software. ZarMoney also has supplier and vendor management capabilities, inventory tracking, and customer management. This tool provides an integrated platform where you can carry out your operations with maximum efficiency and minimal costs.
Key Features
- Accounts receivable and payable
- Online payment processing
- Bank reconciliation
- Billing and invoicing
- Cash management
- Check processing
- Customer statements
- Customizable invoices
- Connection with over 9600 banks
- Multi-login
- Multi-location support
- Multi-currency support
- Automated taxation
- Custom tax order
- Journal entries
- Profit and loss statements
- Alerts and reminders
Pros
- It has several third-party integrations available. You can use them to boost and customize the app’s functionalities to match your specific requirements.
- It is scalable, meaning you can either scale up or down, depending on the needs of your small business.
- It uses data analytics to help you understand your financial performance.
Cons
- It does not offer a mobile app.
Pricing
ZarMoney has the below pricing tiers:
- Entrepreneur: $15 / month / 1 user
- Small Business: $20 / month / 2 users
- Enterprise: $350 / month / 30+ users
- It offers a free trial.
2. Xero
Compared to Sage, Xero offers greater flexibility in two key areas of small business accounting: multi-user login and payroll. In addition, while Sage offers limited users on a single accounting dashboard, Xero allows you to add a larger number of team members. So if you have a bigger team and want them to collaborate with you on your accounting tool, you can go for Xero.
In addition, Sage does not come integrated with payroll management; if you want to do your payroll, you will have to purchase the function at an extra cost. In contrast, Xero provides payroll capability with its most basic pricing plan. If you want your accounting app to multitask as a payroll management tool, opt for Xero instead of Sage.
Known for its user-friendly interface, Xero is one of the more popular online accounting tools out there. It is cloud-based, making it secure and easy to access remotely. In addition, it has advanced automation capabilities that help you cut down on manual accounting work. For instance, it can detect double entry in your books and perform accounts reconciliation with just a few clicks. You can also use it for invoicing, billing, and financial management. Its currency conversion feature also makes it convenient if you have international business dealings.
Key Features
- 401(k) tracking
- ACH payment processing
- Accounts payable & receivable
- Automated quoting & billing
- Bank reconciliation
- Billing & Invoicing
- Budgeting
- Currency conversion
- Customer statements
- Customizable invoices & reports
- Financial analysis
- Income & balance sheet
- Multi-channel management
- Online invoicing & payments
- Real-time reporting
Pros
- Xero is easy to implement and use.
- It has a mobile app for both iPhone and Android platforms, making it a democratic tool.
- It has a customer billing portal. You can add your customers to the portal and improve client management and communication.
Cons
- Its features for inventory and purchase order management are quite limited.
- Its reporting function keeps changing, making it difficult for many business owners to use.
- The bank feed function can fail to work sometimes.
Pricing
Xero has the below pricing tiers:
- Early - $12 / month
- Growing - $34 / month
- Established - At $65 / month
- Xero offers a 30-day free trial.
3. QuickBooks Online
As compared to Sage, QuickBooks is very easy-to-use accounting software. Both tools offer entry-level accounting functions. But while Sage has a steep learning curve, Quickbooks requires no training and very little time to start using. In addition, if you are a small business, Quickbooks will help you perform basic and advanced functions. For instance, you can use it for contractor management and mileage tracking – something Sage does not offer.
Overall, small business owners prefer QuickBooks for its ease of use. It provides a financial reporting feature that helps you and your team gain insights into your financial standing. In addition, it performs functions like invoicing, billing, expense tracking, and payroll management. It offers comprehensive functions at an affordable price.
With QuickBooks, you will have access to an online dashboard. You can get real-time insights into your balance. Transaction history is available with a single click. As a small business, you can also use it for branding purposes by sending customized invoices. Through it, permit your clients to pay you online and speed up your payment process.
Key Features
- Accounting
- Activity Dashboard
- Automatic Billing
- Compliance Management
- Data Import/Export
- Donor Management
- Expense Tracking
- Invoice Management
- Multi-Currency
- Payroll Management
- Sales Tax Management
- Third-Party Integrations
- Time Tracking
Pros
- It is a comprehensive tool. It comes in handy for accounting and customer and payroll management.
- It has good expense tracking capability.
- Use its multi-currency function to manage global clients without the hassle of currency conversion for each transaction.
Cons
- It has limited industry-specific functions.
- It allows you to add only a limited number of users to the accounting dashboard.
- Its third-party integration options are restricted.
Pricing
QuickBooks Online has the below pricing tiers:
- Simple Start - $8 / month / user
- Essentials - $12.50 / month / 3 users
- Plus - $17 / month / 5 users + accountant
- The app offers a free trial.
4. Wave Accounting
Unlike Sage, Wave Accounting is software for small businesses with clearcut accounting and bookkeeping needs. The app does away with complex functions and sticks to clean functionality at reasonable costs.
For instance, you can get bank connections automatically. This means you do not have to enter data about transactions, whether incoming or outgoing manually. Instead, the app will download all relevant data and save it in the online database through automation. It also caters to the core accounting needs of billing, invoicing, online payments and tracking budgets, and more.
You can also use Wave Accounting if you are a small business owner and manage your accounting. Use the single login to access your financial data stored in the app. You can also add one team member to the dashboard for seamless collaboration. However, if you need to add more people, you may want to consider the alternatives to Wave.
Key Features
- ACH payment processing
- Accounts payable
- Accounts receivable
- Automatic billing
- Bank reconciliation
- Invoicing
- Cash flow management
- Currency conversion
- Customer statements
- Customizable branding
- Electronic payments
- Estimating
- Expense tracking
- Financial reporting
- General ledger
- Income & balance sheet
- Online invoicing
- Invoice management
- Mobile app
Pros
- The pricing plans list the costs upfront, with no extra money charged later.
- Through its zero-fee plan, it offers free accounting software to small business owners.
- The user interface is modern and easy for new users to get around.
Cons
- Sending recurring invoices can be a slow and cumbersome process
- The tool can hang at times
- Its accounting features are somewhat limited if you are looking for more advanced functions.
Pricing
- Accounting software - $0
- Credit card processing - $0.30 + 2.9% per transaction
- Bank payment/ACH processing - 1% per transaction ($1 minimum fee)
- Free trial
Conclusion
Today, accounting software is vital to ensure financial management, streamlined operations, and transparent reporting. However, don't miss out on using a more suitable online accounting tool because you find the prospect of a learning curve and initial investment intimidating. Instead, consider the long-term growth of your small business and take the plunge. We guarantee you won't regret it.
However, before you purchase a new platform, make sure you gauge your business requirements. First, assess the features of Sage Accounting alternatives you like and be certain of what you need. For this purpose, think of your industry specific requirement. We say that because the accounting functions needed by a retail business would be very different from what an e-Commerce store requires. Next, determine the budget you can set aside for the tool. Finally, since most of these tools offer free trials or plans, take them for a spin before spending your money.
Now that you know the best Sage Accounting alternatives, what's stopping you? Explore and experiment. Start by trying out ZarMoney for free. Take the free trial today; no credit card payment is needed!
