Accounting is one of the common needs of enterprises, small businesses, freelancers, and solopreneurs. To fulfill those requirements, everyone relies on software. This is because software automates admin tasks, minimizes errors, maintains an audit trail with minimal manual intervention, and gives an excellent return on the money.

FreshBooks emerges as a leading name among available accounting software, as it offers comprehensive accounting and bookkeeping functions at what most consider an affordable rate. 

However, as with everything else, what suits one individual or company may not suit another. This is why it is essential to have options at one's disposal. 

So, in this blog, we bring you the top 5 FreshBooks alternatives to consider befitting your business's conditions.  

List of 5 Best FreshBooks Alternatives

1. ZarMoney 
2. QuickBooks 
3. Wave 
4. Xero 
5. Zoho Books 

1 - ZarMoney

ZarMoney is our number one FreshBooks alternative because of its well-rounded functions. It is cloud-based accounting software that helps you automate your accounting and financial processes, such as invoicing, billing, bank reconciliation, tax calculation, and more. 

ZarMoney is easy to use and fits your business needs. It helps you manage your accounting and finances quickly.

Whether a sole proprietor or a growing business, you can count on ZarMoney to avoid transaction errors and keep your financial operations running smoothly.

Features of ZarMoney

• Feature-rich Invoicing
• Multiple Bank Synchronization
• Account Reconciliation
• Recurring Invoices
• Automated Tax Calculation & Payment
• Automated Billing
• Dynamic Statements
• Financial Reporting

Top Three Features

1 - Bank Synchronization

ZarMoney offers in-app connections to more than 9,600 banks in the U.S. and Canada.

With this option, you can connect your bank account to the software, automatically importing all your bank transactions quickly as and when they occur.

2 - Automated Tax Calculation & Payment

ZarMoney can automatically calculate your sales taxes and prepare your tax filing reports.

Based on store location, you can assign a default tax zone to each client, and the software will calculate the sales tax on each translation automatically.
3 - Accounts Reconciliation 

Get rid of errors and stress from your account reconciliation by automating it completely. 

ZarMoney handles account reconciliation automatically, so you don't need to manually match and verify your transactions with your financial records.

Pros of ZarMoney

• Automates most accounting functions, removing lags and errors.
• Affordable with rich features. 
• Scalable and flexible for your changing needs.
• Great customer service. 

Cons of ZarMoney

• No manual input option

Pricing of ZarMoney

ZarMoney has three pricing plans:

• Entrepreneur: $15 / month / 1 user
• Small Business: $20 / month / 2 users
• Enterprise: $350 / month / 30+ users
• Free trial

Testimonials

Supported Platforms of ZarMoney

• Web
• Mac
• Windows
• Linux
• Chromebook

Customer Support

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

Final Verdict on ZarMoney

ZarMoney offers wide-ranging accounting functions as a Freshbooks alternative, making it a demanded and reliable solution for businesses of all sizes.

This software can manage your bills, payments, supplies, warehouses, etc. A central online dashboard makes it effortless for you to gain complete visibility into your operations. 

2 - QuickBooks

QuickBooks is a viable FreshBooks alternative because of its flexibility. At the same time, it offers more or less the same functions as the latter. 

This accounting software markets itself as a tool for small business owners, and that's where its strength lies.

You can use it to manage your books, send invoices, track your expenses, and manage your payroll. You can also print checks, organize your receipts, and import your data from existing spreadsheets on Excel.

Features of QuickBooks

• Cloud Accounting
• Bank Feeds
• Automatic Billing
• Compliance Management
• Accounting Reports
• Expense Tracking
• Invoice Management
• Payroll Management
• Sales Tax Management
• Third-Party Integrations

Top Three Features

1 - Cloud Accounting 

QuickBooks offers a cloud-based accounting solution, so you can check your financial records anytime.

Your data is stored securely and updated automatically. It syncs easily across different devices and platforms that work with the software.

2 - Bank Feeds

QuickBooks connects to your bank account and syncs real-time transactions. As soon as a transaction occurs, whether incoming or outgoing, your dashboard reflects it within minutes. 

The channel is entirely secure and lets you gain visibility into your finances at a glance. 

3 - Accounting Reports

QuickBooks lets you access your financial reports and statements with a single click. 

Your business performance includes sales, outstanding invoices, cash flow statements, balance sheets, and profit and loss statements. You can also customize the reports per your needs. 

Pros of QuickBooks

• It is intuitive and easy to use.
• It easily categorizes purchases.
• It is customizable and also offers valuable add-ons.

Cons of QuickBooks

• The software updates frequently, and some customers have complained of bugs.
• Customer support can be slow to respond.
• It is expensive for a sole business owner.

Pricing of QuickBooks

• Simple Start: $30 / month
• Essentials: $60 / month
• Plus: $90 / month
• Advanced: $200 / month

Testimonials

Supported Platforms of QuickBooks

• Web
• Mac
• Windows
• Linux
• Chromebook
• iOS
• Android

Customer Support of QuickBooks

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

Final Verdict on QuickBooks

QuickBooks helps businesses perform various accounting functions efficiently. You can use this software as a FreshBooks alternative to do your books, send automatic invoices, get paid faster through online billing options, use bank feeds for manual documents, and keep accurate financial records. 

3 - Wave

Wave is a bookkeeping and accounting tool that caters mainly to freelancers and small businesses. 

We recommend it as a FreshBooks alternative because of its flexible pricing plans - you can choose the features you want to use and only pay for them instead of buying the whole range of functions you will never use at an expensive rate.

Features of Wave 

• Simplified Accounting
• Invoicing
• Payments
• Mobile receipts
• Payroll
• Advisors

Top Three Features

1 - Simplified Accounting 

Wave uses double-entry accounting software, which is an accountant-friendly tool.

You can easily add your accountant to the dashboard and let them handle complicated bookkeeping and accounting procedures, including taxation. 

2 - Invoicing

Wave's Invoicing feature stands out as a strong and user-friendly tool designed for businesses of all sizes making it a comprehensive FreshBooks alternative. 

This feature allows users to create professional, customizable invoices that reflect the brand's identity, making sure of a consistent and polished image for clients. 

3 - Easy Invoice Tracking

Track all your invoices online through Wave. It helps you quickly discover the payments made against your open invoices. It also tells you when payments are due and their details.

You can set notifications to be alerted as soon as an invoice is paid or passed the deadline. 

Pros of Wave

• It offers customized invoicing. 
• It is easy to integrate your existing system with this app.
• Allows receipt tracking. 

Cons of Wave

• Its bookkeeping and accounting features are limited as compared to other tools.
• The bank connection feature can give an error message at times, leading to delays.
• The app can hang up sometimes. 

Pricing of Wave

• Invoicing and Accounting: $0 / month (free)
• Credit card processing: 2.9% per transaction
• Mobile Receipts: $8 / month
• Payroll: $40 / month
• Advisors: $149 / month

Testimonials

Supported Platforms of Wave

• Windows
• MacOS
• Android
• iOS

Customer Support of Wave

• FAQs/Forum
• Email/Help Desk
• Chat
• Knowledge Base

Final Verdict on Wave

Wave is a great alternative to FreshBooks if you want a free app with useful bookkeeping and accounting features. 

It might have fewer features than other options, but it's perfect for small business owners with basic accounting needs. Plus, there are no hidden subscription fees.

4 - Xero

Xero is an accounting tool that offers several other functions to help businesses organize their operations, making it a vast choice as a FreshBooks alternative. 

In comparison with FreshBooks, it is a more user-friendly tool. Xero is also quite affordable, especially considering its extended range of features, including accounting, inventory management, invoicing and billing, and more.

Features of Xero

• Accounting dashboard

• Pay bills

• Claim expenses

• Bank connections

• Accept payments

• Track projects

• Pay runs

• Bank reconciliation

• Manage Xero contacts

• Capture data

• Online invoicing

• Multi-currency transactions

• Purchase orders

• Quotes

• Sales tax

• Analytics and Reporting

Top Three Features

1 - Accounting Dashboard

Using Xero, you get complete visibility into your finances. Its accounting dashboard overviews your bills, invoices, and bank balance. 

You can also customize the dashboard to display specific areas of your business.

2 - Multi-Currency Transactions 

Xero makes multi-currency accounting simple. You can easily do business internationally and get paid in over 160 currencies without any trouble. 

The app converts currencies with one click, making the accounting process hassle-free.

3 - Analytics 

With Xero, you can check the health of your business at a glance through its Analytics feature. 

The dashboard gives you an overview of your short-term cash flow and overall performance, including profit and loss. 

Pros of Xero

• User-friendly, with no steep learning curve.
• Multi-currency capability at an affordable rate.
• Recurring transactions.

Cons of Xero

• You might have to enter data manually at times to prepare bank statements.
• The app does not offer access controls/permissions
• Switching from Xero to another software can be a complicated process.

Pricing of Xero

• Starter: $29 / month
• Standard: $46 / month
• Premium: $62 / month
• Free trial

Testimonials

Supported Platforms of Xero

• Web
• Mac
• Windows
• Linux
• Android
• iOS

Customer Support of Xero

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

Final Verdict on Xero 

Xero is a great alternative to FreshBooks for businesses. It's cloud-based and has a mobile app which can help you check your accounts and finances from anywhere. 

Xero offers versatile features and affordable pricing plans. You can try it out for free with a trial before deciding if it's right for you.

5 - Zoho Books

Zoho Books is an online accounting tool that enables businesses to streamline their workflow. 

Whether you run a small business or a large enterprise, this FreshBooks alternative accommodates you through its scalable functions. We recommend it as a FreshBooks alternative because of its extensive workflow automation capabilities.

Features of Zoho Books

• Comprehensive Accounting Tools
• Customizable Invoice Templates
• Account Reconciliation
• Customer Portal
• Expense Tracking
• Bills
• Banking
• Projects
• Inventory
• Sales Orders
• Purchase Orders

Top Three Features

1 - Account Reconciliation 

Zoho Books automates the account reconciliation process. You can connect your bank accounts, whether one or more, to this app, and it will import your transaction details automatically. 

With a single click, you can reconcile your accounts. This removes the margin for errors and delays. 

2 - Expense Tracking 

Keep track of all your outlay on the visual dashboard Zoho Books offers. This feature makes tracking all your expenses, bills, and outstanding payments more accessible. 

You can use the financial insights provided to make better short and long-term business decisions. 

3 - Client Portal

Zoho Books is one of the few accounting apps that offer a client portal. Using this function, you can increase customer satisfaction through effortless collaboration. 

Share transaction details, send estimates and invoices online, and speed up the approval process.

Pros of Zoho Books

• The configuration is quick and effortless.
• It offers the valuable feature of attaching receipts to expenses.
• It has good mobile compatibility.

Cons of Zoho Books

• New users might find it hard to use.
• Data extraction is a cumbersome process in this app.
• Customer support can be slow to respond.

Pricing of Zoho Books

• Free: $0 for one user
• Standard: $10 / month
• Professional: $20 / month
• Premium: $30 / month
• Elite: $100 / month
• Ultimate: $200 / month

Testimonials

Supported Platforms of Zoho Books

• Web
• Mac
• Windows
• iOS
• Android

Customer Support of Zoho Books

• Knowledge Base
• Chat
• Email/Help Desk
• FAQs/Forum
• Phone Support

Final Verdict on Zoho Books

Zoho Books provides you with an online accounting solution that you can use to track your cash flow. 

It also offers additional capabilities, including invoicing, expense tracking, and account reconciliation, that make it a great choice as a Freshbooks alternative. 

Table Comparison - Top 5 FreshBooks Alternatives

Best of Best - Top 3 FreshBooks Alternatives

1 - ZarMoney

Being one of the best FreshBooks alternatives, ZarMoney offers a complete and promising accounting solution customized for various business scales. 

It provides key features like unlimited invoicing, impeccable expense management, and dynamic cash flow management. 

ZarMoney's cloud-based accounting software makes sure the operations are smooth irrespective of your business's size, offering you the flexibility and scalability important for your accounting tasks. 

2 - QuickBooks Online

QuickBooks Online is a well-known name in online accounting. It offers features like easy online payments, customizable invoices, and detailed financial health insights. 

As a popular accounting software, it stands out as a good FreshBooks alternative. Its bank reconciliation feature and vendor management system make it reliable. 

The user experience is designed to help businesses manage their financial statements and keep their financial reporting process smooth.

3 - Wave 

Wave is a great tool for freelancers and small businesses. It's free and has many features. 

You can sync bank transactions, manage invoices, and process credit cards without spending a lot of money. Wave is a good alternative to FreshBooks, especially for freelancers. 

Its free plan includes income tracking and client communication. The interface is easy to use, making it perfect for everyone.

Conclusion

There are many great alternatives to FreshBooks in 2024. Each has its own strengths and features to fit different business needs. Before you decide, we suggest you compare each tool on our list and weigh their functions against your needs. Then try them out – using the free trial or plan–before using it.

As we sign off, we recommend you consider ZarMoney as the stepping stone of your exploration journey. This tool can be your best FreshBooks alternative with its flexibility and user-friendliness. Use the free trial to find out today.

Frequently Asked Questions (FAQs)

Q1. What is the best FreshBooks alternative overall? 

ZarMoney is the best accounting software we recommend for FreshBooks alternative. That's because the app is flexible, scalable and affordable. It can cater to the accounting needs of several end users, including small business owners, enterprises, freelancers, and solopreneurs. It offers various pricing plans, which you can choose depending on the width of your needs.

Q2. What is the most suitable FreshBooks alternative for enterprises? 

Xero is a good option for enterprises. It offers wide-ranging features that help you manage several ends of your operations, including accounting, invoicing, billing, inventory, vendor management, and more.

Q3. What is the most suitable FreshBooks alternative for freelancers?

Wave Accounting is the tool we recommend to freelancers as it offers useful features at an affordable rate – for free. Since freelancers will have limited accounting needs, which this app's free plan can easily cater to, it is an option worth exploring.

Q4. Which FreshBooks alternative is most user-friendly for beginners? 

Zoho Books offers an intuitive interface and easy-to-understand tools for those new to accounting software, making it a top choice as a FreshBooks alternative for beginners.

Q5. Are there any free FreshBooks alternatives available? 

Yes, Wave Accounting is a free FreshBooks alternative, catering primarily to freelancers and small businesses with its no-cost accounting tools.

Q6. What's the best FreshBooks alternative for those prioritizing inventory management? 

Xero offers extensive inventory management features, making it an excellent FreshBooks alternative for businesses focused on stock and sales.

Q7. Which FreshBooks alternative offers the most flexibility for diverse business types? 

ZarMoney is the go-to choice for those seeking versatility. As a FreshBooks alternative, it's tailored to meet freelancers, small businesses, and large enterprises' unique needs. 

Q8. Is there a FreshBooks alternative that excels in multi-currency operations? 

Yes, Xero is known for its multi-currency solid capabilities, assisting businesses with global operations, thereby standing out as a FreshBooks alternative for this feature.

Q9. Which FreshBooks alternative is best suited for nonprofits? 

ZarMoney, with its scalable and affordable plans, is a good fit for nonprofits, ensuring they can manage their funds without draining their resources.

Q10. How do the reporting features of FreshBooks alternatives measure up? 

Wave Accounting offers comprehensive reporting tools at no cost, setting it apart as a FreshBooks alternative for those prioritizing in-depth financial insights.