5 Best Freshbooks Alternatives to Consider in 2024

What's common between enterprises, small businesses, freelancers, and solopreneurs? Well, they all have accounting needs. To fulfill those needs, all rely on software today. The reasons are plain - software automates admin tasks, minimizes errors, maintains an audit trail with minimal manual intervention, and gives an excellent return on the money.

Among the many accounting software available in the market, FreshBooks emerges as a leading name. And that's no surprise, as FreshBooks does offer 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 FreshBook alternatives to consider for your business.  

Quick Overview of 5 Best Freshbooks Alternatives

Below, we explore our top five FreshBooks alternatives; we begin with an overview of each software and then analyze their top three features, pros and cons, pricing, and more. This comprehensive investigation will help you pick the best Freshbooks alternative to resolve your accounting needs.

1 - ZarMoney

ZarMoney is a cloud-based accounting software that helps you automate your accounting and financial functions, such as invoicing, billing, bank reconciliation, tax calculation, and more. You can rely on this software to eliminate transaction errors while helping you keep a perfect audit trail on a secure online database. ZarMoney is a sound Freshbooks alternative because of its comprehensive functions. 

Key Features

• Invoicing
• Accept Credit Cards Online
• Quotes / Estimates
• Recurring Invoices
• Notification via Text & Email
• Bills
• Expenses
• Access from everywhere
• Bank Connection
• Sales Tax

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 

Remove all errors and hassle from your accounts reconciliation process by automating it from end to end. ZarMoney performs automatic account reconciliation, so you no longer have to manually match and verify your transactions against your financial records. 

Pros

• It automates most accounting functions, removing lags and errors 
• It generates visual, data-based financial reports 
• It is scalable and flexible, meaning you can scale up and down based on your changing needs. 

Cons

• ZarMoney does not have a mobile app.

Pricing

ZarMoney offers an initial free trial, followed by pricing plans: Entrepreneur at $15/month for one user, Small Business at $20/month for two users, and Enterprise at $350/month for 30+ users.

Testimonials

Here are some testimonials from users of ZarMoney as a Freshbooks alternative:

Supported Platforms

ZarMoney is available on the web.

Customer Support

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

Final Verdict 

ZarMoney offers wide-ranging accounting functions as a Freshbooks alternative, making it a reliable solution for businesses of all sizes. This software can manage your bills, payments, supplies, warehouses, etc. Since everything is brought together on a central online dashboard, it becomes 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 strengths lie. 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.

Key Features

• Accounting
• Activity Dashboard
• Automatic Billing
• Compliance Management
• Data Import/Export
• Expense Tracking
• Invoice Management
• Payroll Management
• Sales Tax Management
• Third-Party Integrations

Top Three Features

1 - Cloud Accounting 

QuickBooks provides a cloud-based accounting solution, allowing you to access your financial records whenever needed. All your financial data is stored on a secure platform, organized in a database that is updated automatically, and syncs easily across multiple devices and platforms with which the software is compatible. 

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

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

Cons

• 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 

QuickBooks offers various plans - 'QuickBooks Self Employed' is priced at $20 per month, 'QuickBooks Online Simple Start' is $25 per month, 'QuickBooks Online Essentials' costs $37 per month, and 'QuickBooks Online Plus' is available for $55 per month.

Testimonials

Here are some reviews from customers of QuickBooks as a Freshbooks alternative:

Supported Platforms

QuickBooks is accessible on the web, Android, and iPhone/iPad platforms.

Customer Support

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

Final Verdict 

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, and keep accurate financial records. With the bank feeds feature, you do not have to maintain your documents as the app does manually.   

3 - Wave

Wave is a bookkeeping 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.

Key Features 

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

Top Three Features

1 - Simplified Accounting 

Wave uses double-entry accounting software and 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 robust 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, ensuring 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

• It offers a free app 
• It is easy to integrate your existing system with this app
• There are no hidden costs

Cons

• Its bookkeeping 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

Wave offers a range of pricing options for its services: 'Accounting & Invoicing' and 'Receipt Management' are free. For 'Credit card processing,' they charge $0.30 plus 2.9% per transaction. 

'Bank payment/ACH processing' comes at a rate of 1% per transaction with a minimum fee of $1. Their 'Payroll' service varies based on the state's tax service - in tax service states, it's a $35 monthly base fee plus $4 for each active employee and $4 for every independent contractor paid. 

In self-service states, the base fee is $20 per month, with the exact per-person charges.

Testimonials

Here are some reviews from customers of Wave as a Freshbooks alternative:

Supported Platforms

Wave is available on the web, Android, and iPhone/iPad.

Customer Support

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

Final Verdict 

Wave is a good Freshbooks alternative if you are looking for an app that comes for free while offering useful bookkeeping features. Granted, the app has fewer features than other options in the market, but it will come in handy for small business owners with defined accounting needs. It does not have hidden subscription rates and is easy to use, which makes it ideal for those just starting. 

3 - Xero

Xero is an accounting tool that offers several other functions to help businesses streamline 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.

Key Features

• Pay bills

• Claim expenses

• Bank connections

• Accept payments

• Track projects

• Pay runs

• Bank reconciliation

• Manage Xero contacts

• Capture data

• Files

• Reporting

• Inventory

• Online invoicing

• Multi-currency

• Purchase orders

• Quotes

• Sales tax

• Analytics

• Accounting dashboard

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 it easy to do multi-currency accounting. You can efficiently conduct international business and get paid in more than 160 currencies without a hassle, as this app will convert currency at a single click, removing all irritants from the accounting process. 

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

• It is user-friendly and does not have a steep learning curve
• It offers multi-currency capability at an affordable rate
• It provides a mobile app, which means you can access your dashboard on the go

Cons

• 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

Xero offers a range of pricing options starting at a flat rate of $12 per month. Their 'Early' plan is priced at $5.50 per month, the 'Growing' plan is available for $16 per month, and the 'Established' plan costs $31 per month.

Testimonials

Here are some reviews from customers of Xero as a Freshbooks alternative:

Supported Platforms

Xero supports various platforms, including the web, Android, iPhone, and iPad.

Customer Support

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

Final Verdict 

Xero offers businesses a streamlined Freshbooks alternative experience through its versatile features and affordable pricing plans. Since it is cloud-based and provides a mobile app, you can use it efficiently, no matter where you are, to get a quick overview of your accounts and finances. You can try it out for free using the trial before deciding if it is meant 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.

Key Features 

• Invoicing
• Quotes
• Customer Portal
• Expenses
• 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, outstanding payments and 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 to 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

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

Cons

• It can be not easy to use for new users
• Data extraction is a cumbersome process in this app
• Customer support can be slow to respond 

Pricing

Zoho Books offers a range of pricing, starting with a free tier for one user and one accountant, Standard at $15/month, Professional at $40/month, and Premium at $60/month, along with a free trial.

Testimonials

Here are some reviews from customers of Zoho Books as a Freshbooks alternative:

Supported Platforms

Zoho Books is available on the web, Android, and iPhone/iPad.

Customer Support

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

Final Verdict

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 comprehensive choice as a Freshbooks alternative. You can add your accountant to the dashboard as well and collaborate effortlessly. It has a free plan so you can use it easily with minimal accounting needs. 

Table Comparison - Top 5 Freshbooks Alternatives

The table indicates that among the top 5 Freshbooks alternatives, ZarMoney emerges as the superior choice. While other software options have commendable features, ZarMoney distinguishes itself as a prime Freshbooks alternative.

Best of the Best - Top 3 Freshbooks Alternatives

1 - ZarMoney

At the apex of FreshBooks alternatives, ZarMoney offers a comprehensive and robust accounting solution tailored 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 ensures smooth operations irrespective of your business's size, offering you the flexibility and scalability crucial for your accounting tasks. Supported by various sources, it's evident that ZarMoney has established itself as a premier choice for businesses looking for a comprehensive Freshbooks alternative.

2 - QuickBooks Online

A name synonymous with online accounting, QuickBooks Online comes with features like easy online payments, customizable invoices, and detailed financial health insights. As a popular accounting software, it is worth standing out as a Freshbooks alternative; its bank reconciliation feature and vendor management system make it a reliable option. Its user experience and core accounting capabilities ensure businesses have the tools to manage their financial statements and maintain an optimal financial reporting process.

3 - Wave 

A gem for freelancers and small businesses, Wave offers many accounting tools without the hefty price tag. Its bank transactions syncing, invoice management, and credit card processing capabilities make it a versatile choice for those on a budget. As a Freshbooks alternative for freelancers, its free plan, which includes features like income tracking and client communication, makes it a go-to solution. Its intuitive interface ensures that even those new to accounting systems can easily navigate and manage their finances.

Conclusion

This blog gave you a list of the five best Freshbooks alternatives. We explored each tool in detail and explained their top three features: pricing tiers, supported platforms, customer testimonials, pros and cons, and more. The intention is to nudge you in the right direction when choosing an accounting tool for yourself. 

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)

1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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. 

8. 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.

9. 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.

10. 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.