The Top 6 Akaunting Alternatives in 2024

While Akaunting garners attention, the quest for effective and budget-friendly accounting solutions continues to grow, particularly among startups and small enterprises. The assortment of available online accounting software is vast, each presenting distinct capabilities for managing finances. 

For those in pursuit of cloud-based applications that offer superior financial management, considering alternatives to Akaunting could provide the solution. Look into the options and discover the ideal fit for managing your finances!

List of the Best Akaunting Alternatives

1. ZarMoney
2. Quickbooks
3. Zoho books
4. FreshBooks
5. Wave
6. Sage 50 

1 - ZarMoney

ZarMoney is distinguished as an exceptional cloud-based accounting software, surpassing Akaunting with its extensive features designed for small and growing businesses. Its emphasis on guaranteeing growth through advanced inventory management, financial reporting, and smooth online payments ensures businesses have the tools for efficient operations. 

ZarMoney is committed to nurturing growth, offering scalable solutions that adapt to evolving business needs, making it the best choice for ambitious enterprises. 

List of Features

This is the list of all the features ZarMoney can provide for your business

• Inventory Management capabilities
• Online Payments processing
• Financial Reports 
• Accounts Payable management
• Double-Entry Accounting
• Scalable Accounting Solutions for all business sizes
• Document Management system
• Support for Unlimited Users
• Automated Expense Tracking

Top 3 Features

These are the 3 best features ZarMoney specializes in

1 - Inventory Management

ZarMoney offers advanced inventory management capabilities, allowing businesses to track stock levels, manage orders, and optimize warehouse operations through automation. This feature is essential for maintaining optimal inventory levels and reducing overhead costs.

2 - Financial Reporting

With ZarMoney, companies gain access to detailed financial reports that provide critical insights into their financial health. This feature supports informed decisions by offering extensive reports on income, expenses, and overall financial performance.

3 - Online Payments

ZarMoney simplifies the process of receiving online payments, supporting various payment methods, including credit cards and bank transfers. This functionality improves customer relationships by offering flexible payment options and improving cash flow.

Pros 

• Extensive feature set for better financial management
• Allows for Unlimited Users, making it scalable for growing businesses
• Offers strong customer support options for users
• Provides a Unified Platform for managing various accounting tasks efficiently

Cons

• Some features may have a learning curve for new users

Pricing

ZarMoney offers tiered pricing plans for all business sizes and needs

• Entrepreneur plan: $15 per month, up to 1 user only
• Small business plan: $20 per month, includes 2 users
• Enterprise plan: $350 per month, for 30+ users

ZarMoney also includes a free trial for the Entrepreneur and Small business plans.

Customer Support

• Knowledge Base
• FAQs/Forum
• Phone Support
• Email/Help Desk
• Chat
• 24/7 (Live rep)

Supported Platforms

• Zapier
• Stripe
• Gusto
• Mailchimp
• AutoEntry
• WePay

Rating

ZarMoney’s average rating, according to top software directories like G2 , is 4.7.

Testimonials 

Bottom Line

ZarMoney is a leading cloud-based solution in the accounting software market, specifically designed to support the needs of small to midsize businesses, which makes it the best alternative to Akaunting. 

It excels in providing a unified platform that integrates inventory management, online payments, and financial reporting, ensuring the financial health of businesses. Its long list of features are all accessible for unlimited users. 

2 - Quickbooks

QuickBooks stands out as a superior cloud-based accounting software, offering a diverse range of accounting solutions that specifically cater to midsize and larger businesses. Unlike Akaunting, QuickBooks provides a more thorough and integrated experience for managing financial health, from invoice management to financial reports.

Its user-friendly interface and extensive feature set make it an excellent choice for businesses seeking efficient and reliable online accounting software.

List of Features

This is the list of all the features Quickbooks can provide for your business

• Double-entry accounting
• Automated expense tracking and accounts payable
• Advanced inventory management capabilities
• Easy online payments processing
• Organized financial reports 
• Smooth integration with bank accounts and credit card information
• Document management system
• Support for unlimited users
• Payroll and employee expense reporting

Top 3 Features

These are the 3 best features Quickbooks specializes in

1 - Automated Expense Tracking and Accounts Payable

QuickBooks automates the tracking of expenses and management of accounts payable, saving time and reducing errors. This feature allows businesses to keep accurate records of outgoing funds and manage their financial obligations efficiently.

2 - Advanced Inventory Management Capabilities

With QuickBooks, businesses gain insight into inventory levels, costs, and sales performance. This feature supports better stock management and decision-making, helping businesses avoid overstocking or stockouts.

3 - Detailed Financial Reports

QuickBooks provides a variety of financial reports, including income statements, cash flow statements, and balance sheets. These reports offer valuable insights into a business's financial health, enabling owners and finance teams to make informed decisions.

Pros 

• Accounting features
• Intuitive and user-friendly interface
• Wide range of integrations with third-party apps
• Strong customer support options
• Suitable for businesses of all sizes

Cons

• Higher cost compared to some free alternatives like Akaunting
• Some features may require a learning curve for new users

Pricing

QuickBooks offers several pricing tiers to cater to different business needs

• Simple start: $15/month

• Essentials: $30/month

• Plus: $45/month

• Advanced: $100/month

Customer Support

• 24/7 phone support
• Live chat
• Community forums
• Online resources and tutorials

Supported Platforms

• PayPal 
• Shopify 
• Square 
• TSheets 
• Salesforce 
• HubSpot 

Rating

Quickbooks’ average rating, according to top software directories like G2, is 4.4.

Testimonials 

Bottom Line

QuickBooks is a versatile tool for managing financial tasks and offers a range of features that make it a valuable alternative to Akaunting. 

Its ability to provide large array financial management capabilities, coupled with advanced reporting and automation, makes it a thoroughly great solution for businesses looking to optimize their accounting processes.

3 - Zoho Books

Zoho Books stands out as a top-notch cloud-based accounting software, offering a wide range of features for accounting that cater to the diverse needs of businesses. 

Its superiority over Akaunting stems from its unique features, user-friendly interface, and flexibility in managing financials, revenue management, and customer relationships. Zoho Books ensures businesses maintain accurate records and make informed decisions, marking it as an optimal financial solution.

List of Features

This is the list of all the features Zoho Books can provide for your business

• Double-Entry Accounting
• Invoicing Software
• Expense Tracking
• Inventory Management
• Online Payments
• Financial Reports
• Accounts Payable
• Bank Reconciliation
• Document Management
• Project Tracking

Top 3 Features

These are the 3 best features Zoho Books specializes in

1 - Double-Entry Accounting

This fundamental feature ensures that all financial transactions are accurately recorded, providing a clear picture of a company's financial health. It supports the generation of crucial financial statements such as the income statement and balance sheet.

2 - Online Payments

Zoho Books simplifies the payment process by integrating with various payment gateways. This allows businesses to receive payments faster, improving cash flow and customer satisfaction.

3 - Financial Reports

With Zoho Books, businesses can generate a wide range of financial reports, including profit and loss statements, balance sheets, and cash flow statements. These reports are essential for making informed decisions and understanding the financial health of the business.

Pros 

• Financial management capabilities.
• User-friendly interface with unlimited users in higher-tier plans.
• Strong customer support options.

Cons

• Limited accounting features in the most basic plan.
• Can become expensive as additional users or advanced features are added

Pricing

Zoho Books offers four pricing plans to suit each business

• Free Plan: $0 for businesses with annual revenue less than $50,000.

• Standard Plan: $12/month

• Professional Plan: $24/month

• Premium Plan: $36/month

• Elite: $129 /month

• Ultimate: $249/month

Customer Support

• 24/5 email and phone support.
• Online help center and FAQs.
• Community forums for user discussions.
• Dedicated account managers for larger accounts.

Supported Platforms

• Zoho CRM 
• Zoho Inventory 
• Stripe
• PayPal 
• Slack 
• G Suite 

Rating

Zoho Books’ average rating, according to top software directories like G2 , is 4.5.

Testimonials 

Bottom Line

Zoho Books offers a flexible financial solution for small to midsize businesses looking for an alternative to Akaunting. Zoho Books provides an all-around financial management platform. 

Its ability to manage inventory, track expenses, and generate detailed financial reports makes it a valuable tool for maintaining the financial health of a business. The flexibility of its pricing plans, including a free tier for small businesses and customizable options for larger entities, ensures that businesses of all sizes can find a plan that fits their needs.

4 - FreshBooks

FreshBooks emerges as an exceptional cloud-based accounting software, ideal for those seeking an alternative to Akaunting. 

With its user-friendly interface and expansive range of features catered for small to midsize businesses, FreshBooks simplifies accounting tasks, enabling users to focus on their business growth. It ensures accurate financial tracking and management, making it a preferred financial solution.

List of Features

This is the list of all the fe]atures FreshBooks can provide for your business

• Double-entry accounting
• Online payments 
• Expense tracking 
• Time tracking 
• Project tracking 
• Client invoicing and Invoice Management 
• Financial reports 
• Accounts payable 
• Advanced reporting 
• Cloud-based solution 

Top 3 Features

These are the 3 best features FreshBooks specializes in

1 - Online Payments

FreshBooks simplifies the invoicing and payment process by allowing businesses to accept payments online, thereby accelerating the cash flow and improving customer relationships through convenient payment options.

2 - Expense Tracking

With FreshBooks, businesses can effortlessly record and categorize expenses, making it easier to monitor spending, prepare for tax season, and understand financial health through real-time updates and reports.

3 - Financial Reports

Offering a variety of detailed financial reports, FreshBooks helps businesses analyze their financial performance, make informed decisions, and maintain financial health by providing insights into profit margins, expenses, and overall financial status.

Pros 

• Intuitive user interface
• Financial reporting
• Efficient online payment integrations
• Strong customer support
• Extensive third-party integrations

Cons

• May be costly for businesses needing multiple additional users
• Limited inventory management capabilities compared to dedicated inventory software

Pricing

FreshBooks offers tiered pricing plans to suit each business need

• Lite: $ 5 .70 USD/mo

• Plus: $ 9 .90 USD/mo

• Premium: $ 18 .00 USD/mo

Customer Support

• Phone and email support
• Help articles
• Free webinars
• Active community forums
• Personalized onboarding for new users

Supported Platforms

• Stripe 
• Shopify 
• Gusto 
• Zoom 
• Slack 
• G Suite 

Rating

FreshBooks’ average rating, according to top software directories like G2, is 4.5.

Testimonials 

Bottom Line

FreshBooks is an excellent online accounting software that stands out as a strong alternative to Akaunting. Its ease of use, combined with powerful features like online payments, expense tracking, and thorough financial reports, make it a compelling choice for businesses aiming to improve their financial management. 

The platform's flexibility, coupled with strong customer support and a wide range of integrations, ensures that businesses of all sizes can optimize their accounting processes and focus on growth.

5 - Wave

Wave stands out as an excellent cloud-based accounting software, providing small to midsize businesses with a user-friendly interface and broad financial management capabilities without the high cost.

As an alternative to Akaunting, it offers a wide range of features aimed at simplifying accounting tasks, from invoicing and payment processing to financial reporting and expense tracking, all within a unified platform. This makes Wave an attractive choice for those seeking effective online accounting software.

List of Features

This is the list of all the features Wave can provide for your business

• Unlimited invoices and invoice reminders
• Expense tracking and bank reconciliation
• Double-entry accounting 
• Financial reports 
• Online payments 
• Payroll services integrated within the platform
• Receipt scanning and document management
• Unlimited users, allowing for team collaboration without additional costs

Top 3 Features

These are the 3 best features Wave specializes in

1 - Online Payments

Wave simplifies the online payment process, allowing businesses to accept credit card and bank payments directly through their invoices. This feature not only improves customer relationships by providing convenient payment options but also aids in improving cash flow and financial health by ensuring quicker receipt of payments.

2 - Financial Reporting

With Wave, users gain access to thorough financial reports, including profit and loss statements, balance sheets, and cash flow statements. These reports are crucial for tracking financial health, making informed decisions, and preparing for tax season, all of which contribute to effective financial management.

3 - Expense Tracking and Bank Reconciliation

Wave's expense tracking and automated bank transaction import features streamline the process of managing finances. Users can easily categorize expenses and reconcile bank accounts, ensuring accuracy in financial records and saving valuable time for the finance team.

Pros 

• Free to use for accounting and invoicing features
• Intuitive and easy-to-use interface
• Supports unlimited users and multiple businesses under one account
• Offers automated transaction imports and financial reporting

Cons

• Payroll and payment processing features come with fees
• Limited customization options for invoices and reports
• Fewer advanced features compared to higher-tier plans from competitors

Pricing

Wave’s pricing structure is notable for its affordability. The core accounting, invoicing, and receipt scanning functionalities are free. However, there are fees for additional services

• Starter Plan: $0
• Pro Plan: $16/month

Customer Support

• Help center with articles and guides
• Community forum for user discussions
• Email support for personalized assistance
• Live chat support for immediate help

Supported Platforms

• PayPal 
• Stripe 
• Shopify
• Etsy 
• HubSpot 
• Slack 

Rating

Wave’s average rating, according to top software directories like G2, is 4.4.

Testimonials 

Bottom Line

Wave is a compelling choice for cloud-based accounting software, especially as an alternative to Akaunting. Its strong suit lies in offering a wide array of financial management capabilities, from invoicing and online payments to financial reporting and expense tracking, all without the hefty price tag. 

The combination of essential features for accounting, ease of use, and free access to core functionalities makes Wave a go-to financial solution for small businesses and entrepreneurs looking to manage their finances efficiently.

6 - Sage 50 

Sage 50 emerges as a noteworthy cloud-based accounting software, offering many resourceful features for businesses seeking an alternative to Akaunting. Its capabilities extend across various financial management needs, including advanced features that cater to detailed inventory management, sophisticated financial reports, and reliable accounts payable functions. 

Sage 50 distinguishes itself with its emphasis on delivering a strong financial solution that supports businesses in maintaining accurate financial health.

List of Features

This is the list of all the features Sage 50 can provide for your business

• Inventory Management
• Online Payments
• Financial Health
• Financial Reports
• Accounts Payable
• Double-Entry Accounting
• Document Management

Top 3 Features

These are the 3 best features Sage 50 specializes in

1 - Financial Reporting

Sage 50 excels in generating insightful financial reports. These reports aid businesses in making informed decisions by offering a clear view of their financial standings, including profit and loss statements, balance sheets, and cash flow statements.

2 - Inventory Management Capabilities

The software stands out for its inventory management capabilities. It not only tracks stock levels but also predicts inventory needs, supports order processing, and integrates with sales for real-time inventory updates. This feature is vital for businesses looking to maintain optimal stock levels and reduce inventory costs.

3 - Accounts Payable and Receivable

Sage 50 simplifies managing accounts payable and receivable, offering tools to track and manage debts and receivables efficiently. This aids in improving cash flow management, ensuring timely payments, and maintaining good supplier and customer relationships.

Pros 

• Financial management capabilities.
• Advanced inventory management.
• Wide range of financial reports.
• User-friendly interface for streamlined operations.

Cons

• Can be complex for new users without an accounting background.
• Higher-tier plans may be costly for small businesses.

Pricing

Sage 50 offers three main pricing plans

• Pro Accounting at $595/year for a single user
• Premium Accounting starting at $970/year for one to five users
• Quantum Accounting begins at $1,610/year for one to 40 users. 

Customer Support

• Phone
• Email
• Live Chat

Supported Platforms

• Zoho Books
• QuickBooks Online
• Microsoft ERP platforms
• Oracle Cloud Enterprise Resource Planning

Rating

Sage 50’s average rating, according to top software directories like G2, is 3.8.

Testimonials 

Bottom Line

Sage 50 proves to be a powerful cloud-based accounting software, offering an array of features that make it a great alternative to Akaunting. 

Its emphasis on inventory management, financial reporting, and accounts payable and receivable management positions it as an essential tool for businesses looking to maintain good financial health and manage operations effectively.

Table Comparison 

Best of the Best Alternatives to Akaunting

1 - ZarMoney

ZarMoney stands out as the leading cloud-based accounting software and the premier Akaunting alternative. Its unmatched inventory management, sophisticated online payments, and detailed bookkeeping software solutions make it the optimal choice for small to midsize businesses aiming for growth. ZarMoney’s scalable solutions evolve with your business, ensuring that you always have the robust tools needed for efficient operations. Despite a potential learning curve for new users, its extensive feature set, adaptable to unlimited users, places it at the forefront for businesses seeking thorough financial management.

2 - Zoho Books

Zoho Books takes a solid second place as a cloud-based accounting solution and an excellent Akaunting alternative. It shines with its double-entry accounting, smooth online payments, and insightful financial reports. Zoho Books is catered for businesses of various sizes, offering a user-friendly interface and flexible financial management capabilities. While it provides many features and strong customer support, the limitation on features in its basic plan and potential cost increase for additional users or features keep it from the top spot.

3 - FreshBooks

FreshBooks is acknowledged as a good cloud-based accounting software and a viable alternative to Akaunting, securing the third rank. It simplifies accounting with its intuitive interface, efficient online payments, and extensive expense tracking. FreshBooks is designed for small to midsize businesses, focusing on accurate financial tracking and management. However, its limited inventory management capabilities and potential cost for businesses requiring multiple users highlight some challenges, despite its strong array of features for easy financial reporting and strong customer support.

Final Resolution

The software listed in this guide stand out for their ability to offer superior financial management capabilities. Each platform brings something unique to the table, from inventory management to efficient online payments, detailed financial reporting, and beyond. 

ZarMoney emerges as a standout agency for cloud accounting and a commendable Akaunting alternative. It excels in providing a cloud-based solution that addresses the needs of small to midsize businesses with an arsenal of features for accounting. ZarMoney offers scalability through unlimited users and integrates various processes from inventory tracking to expense tracking, online payment acceptance, and more. 

Frequently Asked Questions

1 - What are the key features to consider when choosing accounting software?

Key features include inventory management for tracking stock levels, comprehensive financial reporting for insights into financial health, efficient management of accounts payable, and double-entry accounting for accurate bookkeeping. 

2 - Can freelancers use cloud-based accounting software?

Yes, freelancers can benefit significantly from cloud-based accounting software. These solutions offer features such as online payments processing, financial reporting for monitoring financial health, and expense tracking. 

3 - Which accounting solutions offer the best invoicing features?

Platforms like ZarMoney and FreshBooks offer superior invoicing features, including the creation of professional invoices, setting up recurring billing, and sending invoice reminders. These tools help in organizing payment collections, thereby improving cash flow and customer relationships.

4- What is the difference between cloud accounting and traditional accounting software?

Cloud accounting software is hosted on remote servers and accessed via the internet, offering real-time data access, scalability, and integration with other online services. 

5- Do any accounting tools specialize in inventory management?

Yes, some accounting tools, such as ZarMoney and QuickBooks, offer specialized inventory management capabilities. These features allow businesses to track stock levels, manage orders, and optimize warehouse operations.

6- Can I integrate accounting software with other business applications?

Many accounting software solutions offer integrations with other business applications, including CRM systems, e-commerce platforms, and payroll services. 

7- How does online payment acceptance benefit my business?

Accepting payments online simplifies the invoicing and payment process, accelerates cash flow, and improves customer relationships by providing flexible and convenient payment options. 

8- How does ZarMoney help small businesses with inventory management?

ZarMoney provides an advanced inventory management solution, enabling businesses to efficiently manage stock levels, orders, and sales, supporting better inventory control and financial planning.

9- Can startups benefit from using ZarMoney as an alternative to Akaunting?

Yes, startups can greatly benefit from ZarMoney's cloud-based platform, which supports real-time financial data updates and access anywhere, anytime, making it a suitable alternative to Akaunting.

10- Are there accounting software options suitable for businesses with high annual revenue?

Yes, several accounting software solutions offer custom plans or higher-tier plans designed to cater to the needs of larger businesses with significant annual revenue. These plans often include advanced features, dedicated account managers, and the ability to handle a larger volume of transactions and financial data.