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Accounts Receivable vs. Accounts Payable – What's the Difference?

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5 QuickBooks Alternatives to Consider in 2022

It’s no secret that business owners, solopreneurs and freelancers all need an accounting system. But gone are the days when you had to keep a ledger and make manual entries for each financial transaction whether incoming or outgoing. Today, everything is automated — yes, even accounting processes! But you already know that if you are using or have considered using QuickBooks. 

As a leading tool in the accounting and bookkeeping market, QuickBooks has been helping business owners automate their financial systems like a pro. However, it is not the only tool in the market offering accounting and bookkeeping capabilities.

There are multiple other options that can cater successfully to the specific needs of various industries just as capably, at better rates and with greater flexibility, too. 

Some reasons why you might find yourself looking – and indeed, benefitting – from using a QuickBooks alternative include the capabilities offered. You might have tried QuickBooks already and found it too complex for your needs. Or you might have liked the features but felt the training required is a bit more demanding than you want to take on at present.

Either way, it is always a good idea to have several options at one’s disposal to make a decision that benefits you in the present as well as the future. Considering this, we have prepared a list of tools that are strong market contenders of Quickbooks.

The tools we explore in this blog perform core accounting functions such as expense tracking, online transactions, keeping financial records, accounts reconciliation and more. The best part is, they all automate your financial processes so you do not have to spend time manually entering, adding or tallying numbers.

Some of them even come with additional functionalities such as inventory tracking, vendor and supplier management, and data analysis. Now, it depends on you as to what features you want to use and then pick a software accordingly. 

Ready to begin exploring the five best alternatives to QuickBooks? 

Part A - Individual Product Overview

Below, we explore our top five QuickBooks alternatives to consider in 2022. We begin by giving you an overview of the product then dive deeper to explore their top three features, pricing, supported platforms, third-party integrations, and more. This detailed analysis is designed to help you choose the right tool for your business.  

1. ZarMoney

Product Overview

ZarMoney is a cloud-based accounting tool that helps you not only automate your bookkeeping system but also manage several other business processes. What makes ZarMoney a viable alternative to QuickBooks is its wide-ranging capabilities.

With this software, you can perform not just accounting, invoicing and inventory functions but also manage your vendors and suppliers on a consolidated dashboard, gain data-based insights through financial reporting and streamline your work flow through its productivity-based features. 

Let’s talk about the accounting and invoicing functions ZarMoney performs. With this app, you can send out accurate quotes and customized invoices. It permits online payment through integrated third-party payment gateways; this gives your customers the convenience of transferring payments at a single click via multi-channel secure platforms.

You can keep a complete track of your account payable and receivable and accept prepayments, credit card as well as ACH payments. Furthermore, your records are constantly updated in the database and you get a spotless audit trail come tax season. 

In addition, ZarMoney offers some very useful inventory management functions. You can keep track of your inventory in real time, predict demand and maintain optimal stock levels.

Moreover, you can manage your vendors and suppliers from the dashboard; you can approve a batch of payment checks at once, send purchase orders, attach receipts, send recurring bills, automatically record expenses and match transactions records without having to visit the bank. 

ZarMoney helps you make data-driven decisions through its reporting feature which tips the scales in its favor further. This tool gives you a complete overview of your finances and as you learn your business performance through visual data, you are empowered to make better decisions, decrease losses and boost your bottom line.

Features

  • 1099 preparation
  • Accounts receivable and payable 
  • Online payment processing
  • Approval process control
  • Bank reconciliation
  • Billing and invoicing
  • Cash management
  • Check processing
  • Chart of accounts
  • Funds transfer
  • Contingency billing
  • Customer statements
  • Customizable invoices
  • Connection with over 9600 banks
  • Multi-login
  • Multi-location support
  • Multi-currency support 
  • Automated taxation
  • Custom tax order
  • Profit and loss statements 
  • Customer statement 
  • Alerts and reminders
  • Inventory management
  • Vendor and supplier management

Top Three Features

The top three features of ZarMoney include:

1. Automated Invoices

Use ZarMoney to send automated invoices to customers. You can auto-populate the fields from the database and email the invoice to clients, offering online payment through a single click.

You can also brand your invoices with your company logo. In addition, you can send recurring invoices for repeat or frequent customers. You can adjust the setting to trigger automatic invoices per interval of your choosing, whether weekly or monthly or at a custom frequency. Since there is little manual intervention involved, you get to save a lot of time.

2. Inventory Management

ZarMoney provides smart and automatic inventory management. Your inventory count is updated in real time and you have 24/7 visibility into your stock level. This allows you to prevent stock outage.

In addition, you can access your records and purchase histories and more on the online dashboard from anywhere and at any time, since it is cloud-based. You have a bird’s eye view into your data whether in one or more locations or warehouses.  

3. Accounts Reconciliation 

Rely on ZarMoney to perform automatic accounts reconciliation. You can say goodbye to manually matching your transactions to your financial records. ZarMoney compares your invoices to your bank statement in just one click, saving hassle and time. It identifies errors and discrepancies easily, helping you keep an accurate audit trail. 

Price Plans

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

Pros

  • It tracks inventory in real time, helping maintain optimal stock levels
  • It provides visual, data-based financial reports 
  • It is scalable; you can expand its functionalities as your business needs grow

Cons

  • The app does not offer a free plan

Integrations 

  • AutoEntry
  • PayPal
  • Stripe
  • Google Calendar
  • QuickBooks Payment
  • Braintree
  • CyberSource
  • Authorize.Net
  • Gusto
  • Mailchimp
  • Zapier
  • Shopify

Average Rating from Top 3 Software Directories 

ZarMoney’s average rating, according to the top three software directories, stands at 4.73.

Testimonials

Here are some testimonials from users of the app: 

Customer Support Options 

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

Support Platforms

  • Web
  • Mac
  • Windows
  • Linux
  • Chromebook

Bottomline 

ZarMoney provides end-to-end automation for your accounting as well as other business processes including inventory, vendor & supplier management, tax calculation and more. You can use this tool whether you are a solopreneur, own a small business or run a large enterprise. It is intuitive and easy-to-use, which makes it ideal for people who wish to simplify bookkeeping and other systems to improve their workflow. We recommend using the free trial to discover how ZarMoney meets your business requirements effortlessly.

2. Zipbooks

Product Overview

ZipBooks proves a compelling alternative to QuickBooks because of two reasons: its starter plan is completely free of costs and it offers time tracking which the QuickBooks does not. In other words, you can use this tool without paying anything, although in that case you will get limited features; and you can also use it to manage projects effectively. This combined functionality makes ZipBooks a good option for small business owners and freelancers. 

In addition, ZipBooks helps you manage your accounting. It performs functions like tracking accounts receivables, accounts reconciliation, tax calculation and more. You can use it to email invoices to customers and get paid through online channels quickly and conveniently. Furthermore, it offers payroll management and project management features, expanding its functionality considerably for businesses that have such requirements. 

With ZipBooks, you can also learn customer paying trends, keep an online database, and gain financial forecasts as well. 

Features

  •       Accounts payable and receivable
  •       Bank reconciliation
  •       Billable & non-billable hours
  •       Billing & invoicing
  •       Bookkeeping services integration
  •       Budgeting
  •       Customizable invoices
  •       Employee database
  •       Financial reporting
  •       Income & balance sheet
  •       Mobile payments
  •       Mobile time tracking
  •       Multi-currency
  •       Payroll management
  •       Profit/loss statement
  •       Project accounting and billing
  •       Receipt management
  •       Time & expense tracking

Top Three Features

The top three features of ZipBooks include:

1. Account Receivable

ZipBooks keeps track of your account receivables, allowing you to stay updated about your payments, whether pending or processed. As you gain visibility into your bills - paid, unpaid and overdue - you can trigger reminders for clients. This helps you get paid, learn payment patterns of customers, and keep your financial records straight at all times. 

2. Auto Categorization 

ZipBooks categorizes your expenses automatically, saving a tonne of time. The software is intelligent and selects a category of each transaction record before sorting it out neatly. This requires no manual entry. Furthermore, it gives you insights into your expenses, helping you streamline your cash flow effectively. 

3. Billing

 

With ZipBooks, you can manage your billing efficiently. Send invoices to customers and enable online payments. This tool has check and credit card processing, which gives customers easy options to pay and helps you get paid easily. You can also send recurring bills without manual intervention, apply auto-discounts and more. 

Price Plans

  •       Starter - free of cost
  •       Smarter - $15 / month
  •       Sophisticated - $35 / month
  •       Accountant - Custom pricing

Pros

  • The interface is user-friendly 
  • The starter plan is completely free of cost
  • Customer support is quite responsive and helpful 

Cons

  • It does not generate customer statements
  • The reporting feature is not very detailed 
  • It does not have access controls in place, making it impossible to restrict permissions according to user role in the organization 

Integrations

  •       Google Drive 
  •       PayPal 
  •       Slack 
  •       Google Workspace 
  •       Asana 
  •       Gusto 
  •       Spiceworks 
  •       Enrollsy 

Average Rating from Top 3 Software Directories

ZipBooks’ average rating from the top 3 software directories stands at 4.5.

Testimonials

Here are some reviews from customers of the app:

 

 

 

Customer Support Options

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

Support Platforms

  •       Web
  •       Android

Bottomline

ZipBooks is a multifunctional tool that provides accounting capabilities and other functions such as time tracking. As the starter plan comes free of costs, it can be a good option for new business owners or whoever has basic accounting needs and does not want to invest money into a software. It is also easy-to-use and has good customer service. You can try it out to learn whether it meets your needs or is too limited in scale for your requirements. 

3. FreeAgent

Product Overview

FreeAgent is a good QuickBooks alternative for small businesses. This tool performs necessary accounting functions without hassles. You do not need to have expert knowledge about finance and accounting in order to start using this app effectively.

Rather, the onboarding and implementation process is quick and painless. Furthermore, it has a user-friendly interface which makes it quite easy to use for freelancers as well as small business owners who do not have prior experience using such tools. 

FreeAgent is also cost-effective, making it an attractive alternative for those who do not wish to make huge investment into accounting software. You can use this tool to track your expenses, prepare and send invoices, accept online payments and import bank transactions daily for updated recordkeeping.

It also calculates sales tax on transactions and shows you your financial standing on the easy-to-understand dashboard. It has a mobile app version, allowing effortless access.

Although FreeAgent is pretty easy to use for new-time individuals or business owners, it still gives the option of contacting their team of accounts for guidance in case users have a query or require advanced expertise to solve problems. 

Features

  • API
  • Accounts payable and receivable
  • Activity dashboard
  • Audit trail
  • Bank reconciliation
  • Billing and Invoicing
  • Billing rate management
  • Cash flow management
  • Contact database
  • Discount management
  • Online invoicing
  • Online payments
  • Overpayment processing
  • Partial payments

Top Three Features

The top three features of FreeAgent include:

1. Invoicing 

FreeAgent allows you to create customized and professional invoices. Do everything online — populate fields in the invoice from your customer database and send invoices online to get paid through multiple channels. Your payment is processed faster. At the same time, you can create a brand image by adding your company logo and colors on the invoice. 

2. Billable Hours Tracking 

FreeAgent allows you to get paid by the hour. This app enables you to record your billed as well as unbilled hours. This helps customize payments by the hour for specific projects.

Create a project within the app, make a to-do list of tasks, and track hours spent on each deliverable. With this information, you can generate accurate invoices. It is a particularly handy feature for small business owners and freelancers.

3. Automatic Bank Feeds

 

Link your bank accounts to FreeAgent and import data effortlessly. You can get all the transaction records from your bank accounts and save them in the app database. Keep accurate and detailed financial records and histories for later use. Since your account information is updated in real time, you can gain timely insights into the state of your cash flow.

Price plans

  •       US $10 /month for six months
  •       After six months, US $20 /month
  •       Free trial

Pros

  • New users can onboard and begin using this tool quickly
  • It is easy to use for people who are not accountants 
  • The billing and invoicing feature is fast and easy to use 

Cons

  • It is difficult to download copies of scanned receipts and invoices from the app
  • Exporting data can be complicated process
  • It is not very flexible in terms of packages offered

Integrations

  •       Google Drive 
  •       PayPal 
  •       Google Workspace 
  •       Basecamp 
  •       Stripe 
  •       Zapier 
  •       ActiveCampaign 
  •       Float 
  •       Commusoft 
  •       AutoEntry 
  •       Itemize 
  •       Insightly 
  •       Rydoo 
  •       Capsule 
  •       RightSignature 
  •       Float Cash Flow 
  •       Cyfe 
  •       Chaser 
  •       Mailigen 
  •       Cognito Forms 
  •       SimpleTax 
  •       Mailform 
  •       Dext Prepare 
  •       Geckoboard 
  •       Retently 

Average Rating from Top 3 Software Directories

FreeAgent’s average rating, per the top 3 software directories, stands at 4.36.

 

Testimonials

Here are some reviews from customers of the app:

 

Customer Support Options

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

Support Platforms

  •       Web
  •       Android
  •       iPhone
  •       iPad

Bottomline

Use FreeAgent to manage your expenses and track your budget easily. This tool helps you carry out daily accounting procedures easily, keeping your financial records updated. You can also use its reporting feature to learn your performance and predict your cash flow for improved business performance. 

4. Xero

Product Overview

Xero is a solid accounting and bookkeeping solution that helps businesses of various sizes – whether large, mid-sized or small – upgrade their financial processes to an automatic system effortlessly. What makes Xero a great alternative to Quickbooks is its pricing range.

Not only is Xero more affordable in comparison but it also offers pretty much the same features as QuickBooks at a lower rate. Wait – it gets better! With Xero, you also get the option to allow an unlimited number of users to work on a single dashboard, providing ease of collaboration and communication specially for larger teams.

Some of the notable functions that Xero presents are account reconciliation, budget tracking, financial management, invoicing and billing, currency conversion and more. With its user-friendly interface, you do not have to spend much time learning the ins and outs of this tool. Instead, you can dive in and start using it in no time at all. You can also shift seamlessly to Xero from your existing system, saving yourself a lot of time and hassle. 

Use Xero to get greater visibility into your financial standing. Learn whether you are making profits or losses and gain forecasts about your future based on your current performance. You can rely on these insights to make better business decisions. 

Features

  • Accounts Payable and Receivable
  • ACH Payment Processing
  • Audit Trail
  • Automated Quoting
  • Bank Reconciliation
  • Billing & Invoicing
  • Billing Portal
  • Budgeting/Forecasting
  • Contact Management
  • Customer Statements
  • Customizable Branding
  • Data Import/Export
  • Expense Management
  • Forecasting
  • Fraud Detection
  • Hourly Billing
  • Income & Balance Sheet
  • Mobile Payments
  • Multi-Currency
  • Profit/Loss Statement
  • Purchase Order Management
  • Sales Tax Management
  • Third Party Integrations
  • Time Tracking
  • Vendor Management
  • Warehouse Management

Top Three Features

The top three features of Xero include:

1. Bank Reconciliation

Using Xero, you can categorize as well as reconcile your bank account transactions easily. The tool offers suggested matches through which you can check and accept accounts reconciliation automatically. You can reconcile more than one transaction at one time and stay updated with your bank reconciliations at all times. 

2. Invoicing 

Use Xero to send quick invoices. Add the ‘Pay Now’ button to your online invoices and email them to customers or send them within the app. They can simply click on the button and your payment is processed. This allows you to get paid faster and also streamlines your cash flow. You can also send automatic reminders to clients in case of pending payments. 

2. Financial Reporting

 

Xero offers detailed accounting reports to help you gain timely insights into your expenses and overall performance. Your transaction records are updated and you can consult with your advisors in real time to make sound financial decisions. Furthemore, you can customize the reports to adjust how data is shown for improved comprehension. 

Price Plan

  •       Starter - $22 / month
  •       Standard - $35 / month
  •       Premium - $47 / month
  •       Free trial

Pros

  • It is easy to use 
  • It comes with a billing portal, allowing customer to log in and check their transaction history and more
  • It has a mobile app that makes it convenient for 24/7 and remote usage

Cons

  • It does not offer integrated payroll like QuickBooks and you have to use Gusto for payroll needs
  • The app can sometimes demand manual data entry to prepare bank statements
  • Switching from Xero to another tool can be quite difficult 

Integrations

  •       Google Drive
  •       PayPal
  •       Dropbox Business
  •       Microsoft 365
  •       Google Workspace
  •       Mailchimp
  •       Google Forms
  •       Acuity Scheduling
  •       QuickBooks Time
  •       Gusto
  •       HubSpot Marketing Hub
  •       Shopify
  •       Eventbrite
  •       FreshBooks
  •       Stripe
  •       HubSpot CRM
  •       Zoho CRM
  •       Zapier
  •       Quickbooks Online
  •       Squarespace
  •       Pipedrive
  •       Square Point of Sale

Average Rating from Top 3 Software Directories

Xero’s average rating, per the top 3 software directories, stands at 4.3.

 

Testimonials

Here are some reviews from customers of the app:

Customer Support Options

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

Support Platforms

  •       Web
  •       Android
  •       iPhone
  •       iPad

Bottomline

Xero is a solid alternative for QuickBooks in the accounting software market. The selling points of this tool, in comparison with Quickbooks, is that it allows unlimited users to use the tool. It also has wide-ranging functionalities and is available for use on various devices including phones, making it quite accessible on the go. 

5. Sage Business Cloud Accounting

Product Overview

Sage Business Cloud Accounting helps businesses track expenses, conduct invoicing and billing and gain financial insights. It is a sound alternative to QuickBooks for those looking for a concise but powerful list of features.

With this tool, you do not get lost under a long itinerary of functionalities. You can simply use the features you require effortlessly without wasting time and energy experimenting with capabilities you do not need.

You can use Sage to automate your financial processes and skip the bulk of manual work. You can also rely on it to get paid faster than before and eliminate bottlenecks from the process of client communication and payment processing. Furthemore, it helps you predict your cash flow, send out invoices, track payments and get financial reporting as well.

Connect to your bank, import transactions records and statements automatically, match your records to your invoices with menial effort, and streamline your system for maximum efficiency. 

Since Sage Accounting is available on the cloud, as the name suggests, it is accessible from anywhere and at any time, making it ideal for those who work remotely or are often on the go. 

Features 

  • Approval Process Control
  • Budgeting/Forecasting
  • Cash Management
  • Forecasting
  • General Ledger
  • Income & Balance Sheet
  • Multi-Company
  • Multi-Currency
  • Profit/Loss Statement
  • Time & Expense Tracking

Top Three Features

The top three features of Sage Business Cloud Accounting include:

1. Account Payable & Receivable 

Use Sage to automate the management of your account receivables and payables. You no longer need to keep physical records of financial transactions as this app tracks your pending payments, whether incoming or outgoing, and keeps your audit trail updated and accurate at all times. You can learn what payments are owed and due, and ensure cash flow management accordingly. 

2. Multi-Currency Management 

Sage allows you to cater to an international client base without hassles. All you have to do is select your desired currency in the app to enable transactions in the required currency. This feature allows you to accept payments from anywhere, add multiple banks and import transactions from your accounts to track your finances, no matter in which currency, easily.

3. Expense Tracking 

Sage can help you track your expenses easily. You can simply connect your bank accounts to the software and get real-time insights into your transactions. You can also set up notifications and alerts for overdue bills in order to take timely action. 

Price Plans

  • Starting from $15 / month
  • Free trial

Pros

  • The customer support is quite responsive and resolves problems quickly
  • Multiple users can use this app easily 
  • Reports can be customized per needs

Cons

  • The app needs to be installed on desktop which is a complicated and time-taking process
  • It offers limited customization and branding options 
  • It can be difficult to use for beginners so it is not recommended for solo users

Integrations

  • PayPal 
  • Microsoft Excel 
  • Adobe Commerce 
  • Salesforce Sales Cloud 
  • Time Tracker 
  • APS 
  • Expensify 
  • BigTime 
  • Paychex Flex 
  • Replicon 
  • Sisense 
  • Pipefy 
  • ClickTime 
  • Precoro 
  • Quickbase 
  • Itemize 
  • Bill.com

Average Rating from Top 3 Software Directories

Sage Accounting’s average rating from the top 3 software directories stands at 4.16.

Testimonials

 Here are some reviews from customers of the app:

Customer Support Options

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

Support Platforms

  •   Web
  •   Android
  •   iPhone
  •   iPad

Bottomline

With Sage, you can perform complex accounting functions easily. Features such as managing accounts receivables, budgeting and financial forecasting are available, allowing you to automate your accounting system.

You can also get the benefits of direct online payments through the integrated payment gateways in the app. The consolidation feature that allows combining reports for all – domestic, global and multiple stakeholders (like suppliers, vendors, customers etc.) – make it a good alternative to QuickBooks depending on your need. 

Part B - Table Comparison

 

ZarMoney

ZipBooks

FreeAgent

Xero

Sage

ACH payment processing

Accounts payable & receivable

Access controls/permissions

Activity dashboard

Accounts reconciliation

Billing & invoicing

Budgeting/forecasting

Customizable invoices

Check processing

Credit card processing

Customer Statements

Reporting & Statistics

Third-party integrations

Customer Support on Phone

Free Trial

Pricing (Starting From)

$15

$0

$10

$22

$15

 

Part C - Best of Best FAQs

  • What is the best QuickBooks alternative overall? 

ZarMoney is the best recommended alternative for QuickBooks. Why? Because the software is versatile as well as affordable. You can choose from a variety of pricing plans per your needs. Even at its most basic, this tool comes in handy for managing several ends of your operations—from accounting to inventory to vendor management.

You can also use it for expense tracking and budget management while also conducting your financial transactions online through secure platforms. Furthermore, with the option of third-party integrations, you can expand ZarMoney’s functionalities to meet your specific business needs, whether you’re a freelancer, small business owner or run an enterprise. 

  • What is the most suitable QuickBooks alternative for freelancers? 

FreeAgent is a good option for freelancers. That’s because this tool has a clear range of features offered at a single pricing plan. You can manage your accounting processes easily by using this software. It automates your bookkeeping system and performs all crucial functions, which makes it suitable considering the needs of freelancers would not be extensive or complicated enough to require advanced features.  

  • What is the most suitable software for large enterprises?

Xero is a recommended option for large enterprises, considering their accounting needs are wide-ranging. This software offers a full package with advanced features available at pricier plans. You can invest more according to the features you require and get access to such capabilities as financial forecasts, vendor bill tracking, point of sale integration, hiring, sales and marketing and more. 

Conclusion

In this blog, we explored the five best alternatives to QuickBooks in 2022. We not only presented a list of alternative software but we also analyzed each in detail, exploring their top three features, pricing plans, supported platforms, customer reviews and more useful information.

The purpose was to give you an insightful peek into the world of accounting tools in the market that are giving QuickBooks a run for its money. Armed with this knowledge, you can compare products and choose the most suitable option for yourself. 

The market is competitive and a close review of accounting tools empowers you to compare and contrast features, explore your own business needs in detail, and make an informed decision. Times are gone when you had only one available choice at your disposal—which, let’s be honest, is no choice at all.

With the development of new technologies and tools, you have far greater freedom to pick an option per your preferences. QuickBooks is still one of the market leaders when it comes to accounting tools; however, it doesn’t hurt to branch out and experiment with other software that might meet your business demands in a much better manner. 

We urge you to make good use of your newfound knowledge and freedom of choice to try out QuickBooks alternatives. In the end, we’ll nudge you to begin your exploration with ZarMoney. With its wide functionality, scalability and free trial, it is certainly a very easy software to try out and reap benefits from today and in the future.

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