7 Best QuickBooks Alternatives For Personal Finances

Searching for the perfect QuickBooks alternative for managing your personal finances? You're in the right place. 

This blog explores the top 7 QuickBooks alternatives designed for individual financial management. From budgeting to tracking expenses, these alternatives offer a variety of features to suit your financial needs. 

Whether you're looking to simplify your financial tracking or need a more accessible option, our guide will help you find the best QuickBooks alternative for your personal finances.

1. ZarMoney

ZarMoney is a reliable alternative to QuickBooks for individuals seeking a cloud-based accounting solution for personal finance management. It facilitates a variety of financial tasks, including accounting, invoicing, and inventory management.

Features of ZarMoney 

• Bank Reconciliation and Transaction Import
• Expense Tracking and Management
• Inventory Management
• Invoicing and Payment Management
• Financial Reporting
• Account Payable and Receivable
• Integration with Financial Institutions
• Customizable Dashboard

Top 3 Features

1. Bank Reconciliation

ZarMoney simplifies ensuring your personal banking records match your financial management tool's records through its Bank Reconciliation and Transaction Import feature. 

This functionality automatically imports transactions from your bank, helping you keep track of spending, deposits, and transfers without manual entry. It's a time-saving feature that reduces errors and helps maintain an accurate financial health overview.

2. Expense Tracking and Management

The Expense Tracking and Management feature allows for detailed monitoring of personal expenditures. You can categorize expenses, track them over time, and see where your money goes each month. 

This can help identify areas where you might be overspending and where you can cut back. Managing expenses effectively is vital to personal financial health, and this feature facilitates a clear view of your financial habits.

3. Customizable Dashboard

With the Customizable Dashboard, ZarMoney offers a personalized overview of your financial situation. You can set it up to highlight the information most important to you — be it your spending patterns, upcoming bills, savings, or investments. 

This at-a-glance view can help you stay on top of your finances by prioritizing what matters most to your personal financial goals, making daily financial management more intuitive and less time-consuming.

Pros of ZarMoney 

• Access your finances anytime, from anywhere.
• Simplifies expense tracking and categorization.
• Customize financial insights to your needs.
• Offers immediate insight into financial status.
• Competitive pricing, including a free tier for single users.

Cons of ZarMoney

• Might be challenging for users new to financial software.
• Requires an internet connection for cloud-based functionalities.

Pricing of ZarMoney

ZarMoney has three pricing plans

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

Integrations of ZarMoney

• Gusto
• PayPal
• Stripe
• Zapier
• Google Calendar
• Quickbooks Payments
• Braintree
• Authorize.Net
• CyberSource
• MMC Receipt

Rating

ZarMoney’s average rating, according to the top three software directories, is 4.7.

Testimonials

Customer Support of ZarMoney

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

Final Verdict on ZarMoney

ZarMoney presents an attractive option for businesses seeking a QuickBooks alternative for personal finances. Its extensive feature set, scalability, and affordable pricing suit a wide range of business needs, from solo entrepreneurs to larger enterprises. 

The combination of automatic financial processes, Bank reconciliation, Customizable dashboards, and expense tracking tools makes ZarMoney a powerful tool for users who want to simplify their financial operations.

2. Xero

Xero is cloud-based accounting software designed for small businesses. It offers a range of features to manage finances effectively. It's considered a strong QuickBooks alternative for personal finances, with functionalities that simplify banking, expense management, and financial reporting.

Features of Xero 

• Claim expenses
• Bank connections
• Accept payments
• Track projects
• Bank reconciliation
• Files
• Reporting
• Multi-currency

Top 3 Features of Xero

1. Bank Connections

With bank connections, your transactions are automatically imported into Xero daily. It means you don't have to manually input each transaction, saving you time and decreasing the chances of mistakes. 

Having your bank transactions flow into Xero gives you a real-time view of your finances. It can be valuable for keeping track of spending, ensuring you don't overspend, and helping you maintain a budget

2. Bank Reconciliation

One of the challenges of personal finance is keeping track of all your expenditures and incomes. Xero's bank reconciliation feature allows you to match your bank transactions with the ones you've entered or imported. It ensures that you get all the transactions and correct entries.

3. Multi-Currency

The multi-currency feature is valuable if you have foreign bank account investments or often deal with foreign transactions. It lets you register transactions in numerous currencies and updates real-time exchange rates.

Pros of Xero

• User-friendly interface for easy navigation.
• Real-time financial data and bank reconciliation.
• Extensive app integrations for customized functionality.
• Cloud-based access from anywhere.

Cons of Xero

• It may be complex for basic personal finance needs.
• Higher cost compared to basic finance tools.

Pricing of Xero

• Early: $15
• Growing: $42
• Established: $78

Integrations of Xero

• Google Drive
• PayPal
• Dropbox Business
• Google Workspace
• Microsoft 365
• Google Forms
• Mailchimp
• QuickBooks Time
• Shopify
• FreshBooks
• Zoho CRM
• Zapier

Rating

According to Software advice, Xero has been given an average rating of 4.4 out of 5 by its patrons.

Customer Support of Xero

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

Testimonials

Final Verdict on Xero

Xero is a strong QuickBooks alternative for personal finances, with functionalities that simplify banking, expense management, and financial reporting. 

However, Xero might be more advanced and costly for individual personal finance management than basic finance tools. Despite this, Xero remains one of the top contenders in the market for businesses due to its user-friendly interface, real-time financial data, extensive app integrations, and cloud-based access.

3. FreshBooks

FreshBooks is a cloud-based accounting software designed for small business owners and freelancers, making it a strong QuickBooks alternative for personal finances. It emphasizes ease of use, efficiency, and the ability to streamline financial tasks such as invoicing, expense tracking, and financial reporting.

Features of FreshBooks

• Invoicing
• Payments
• Time tracking
• Accounting 
• Expense tracking
• Reports
• Projects
• Proposals

Top 3 Features of FreshBooks

1. Expense Tracking

One of FreshBooks' key features for managing personal finances is its ease of entering, categorizing, and attaching receipts for expenses. This capability allows users to gain insight into their monthly or annual spending patterns. 

By connecting their bank accounts or credit cards, FreshBooks automates the process further by pulling in and categorizing expenses, thereby streamlining the tracking experience.

2. Reports

Several reporting tools FreshBooks provides enable users to track their spending by vendor or category over a specific time frame. This is especially helpful when creating a budget or reducing specific spending. 

Seeing revenue versus expenses is helpful, even for personal use, to make sure one is living within one's means.

3. Invoicing

The invoicing function of FreshBooks can be helpful for personal and corporate uses. For example, FreshBooks makes it simple to create invoices that look professional and manage payments, whether you're doing some side jobs or working on a personal project.

Pros of FreshBooks

• Easy-to-use interface, especially for non-accountants
• Built-in time tracking suits freelancers and professionals who bill by the hour
• Easily snap photos of receipts and track expenses

Cons of FreshBooks

• Higher costs for advanced features and extra users.
• Financial reporting may not meet all enterprise needs.
• Primarily designed for small businesses, limiting personal finance use.

Pricing

• Lite $7.60 / month
• Plus $13.20 / month
• Premium $24 / month

Integrations of FreshBooks

• Google Drive
• PayPal
• Slack
• Google Workspace
• Trello
• WordPress
• MailChimp
• Shopify
• Zip Recruiter
• Zapier
• Hubspot CRM
• Calendly

Rating

The average rating for FreshBooks is 4.5 out of 5.

Testimonials

Customer Support of FreshBooks

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

Final Verdict on FreshBooks

For those in search of a QuickBooks alternative for personal finances, FreshBooks emerges as an excellent choice, particularly for individuals and small enterprises. 

It presents a well-rounded suite of tools specifically engineered for the efficient and straightforward management of personal finances.

4. Wave

Wave, as a QuickBooks alternative for personal finances, offers a free, user-friendly platform designed for small business owners, freelancers, and consultants. It is prominent for its no-cost accounting, invoicing, and receipt scanning capabilities, making it an attractive option for those seeking effective financial management tools without the expense. 

Features of Wave

• Invoicing
• Payments
• Free and User-Friendly Accounting
• Mobile receipts 
• Payroll
• Advisors
• Detailed reporting

Top 3 Features of Wave

1. Free and User-Friendly Accounting

One of Wave's most notable features is that it's free for basic accounting, invoicing, and receipt scanning. This benefits individuals who want to track their income and expenses without incurring extra costs. 

The forum is intuitive and straightforward, making it accessible for those without accounting experience.

2. Mobile Receipt 

Wave provides a mobile app that allows you to snap pictures of your receipts. Once uploaded, the software can read and record the transaction details, helping you keep track of your expenses. 

It benefits individuals who want a hassle-free way to manage and categorize their expenditures.

3. Detailed Reporting

Wave offers detailed financial reports that provide information about your overall financial well-being. Cash flow reports, balance sheets, and profit and loss statements can all be generated. These reports give you information for tax filing, deeper business insights, and performance evaluations of your finances. 

Even if you're using it for personal finances, these reports can be instrumental in understanding where your cash is coming from and where it's going.
.Pros of Wave

• Free accounting software with unlimited invoices, payment processing, and receipt scanning.
• User-friendly interface that is easy to navigate.
• Complete financial reports that offer insights into your financial health.
• Wave offers personal finance software, which can be helpful to sole proprietors

Cons of Wave

• Limited advanced features compared to other paid accounting software.
• Customer support for non-paying users is limited.
• Not suitable for larger businesses with more complex accounting needs.

Pricing of Wave

• Starter Plan $0
• Pro Plan $ 16

Integration of Wave

• Zapier
• Slack
• Google Sheets
• Shopify
• Mailchimp
• HubSpot
• Square
• PayPal

Rating

Testimonials

Customer Support of Wave

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

Final Verdict on Wave

Wave is a free cloud-based accounting software that offers a range of features for small businesses and self-employed individuals, making it a strong QuickBooks alternative for personal finances. Its top features include free accounting software, a user-friendly interface, and integrated payment processing. 

5. Zoho Books

Part of the Zoho suite, Zoho Books is a leading QuickBooks Alternative for Personal Finances, offering reliable accounting and financial management solutions for individuals and small businesses. With its user-friendly interface and powerful features, Zoho Books is a popular choice for those seeking an alternative to QuickBooks.

Features of Zoho Books

• Bank Reconciliation
• Automated Workflows
• Customizable Invoices and Estimates
• Expense Tracking
• Project Time Tracking
• Inventory Management
• Financial Reports and Analytics

Top 3 Features of Zoho Books

1. Bank Reconciliation

Zoho Books simplifies the reconciliation process by automatically fetching bank transactions, making it an ideal Quickbooks Alternative for Personal Finances. This feature saves time and reduces errors, ensuring accurate financial records.

2. Automated Workflows

Zoho Books simplifies financial tasks through automated workflows, offering a more efficient alternative to Quickbooks for personal finances. This feature helps automate routine processes, improve productivity, and reduce manual errors.

3. Customizable Invoices and Estimates

Zoho Books provides personalized invoicing and estimating options, making it a prominent Quickbooks Alternative for Personal Finances. This feature allows users to create professional-looking documents personalized to their brand, enhancing client interactions.

Pros of Zoho Books

• In-depth accounting features
• Automation of financial tasks
• Real-time collaboration capabilities
• Intuitive interface
• Multi-currency support
• Scalable plans for growing needs

Cons of Zoho Books

• Learning curve due to advanced features
• Limited customizations in lower-tier plans

Pricing of Zoho Books

• Free Plan: $0 per organization/month

• Standard Plan: $10 per organization/month

• Professional Plan: $20 per organization/month

• Premium Plan: $30 per organization/month

• Elite Plan: $100 per organization/month

• Ultimate Plan: $200 per organization/month

Integrations of Zoho Books

• Stripe
• PayPal and PayPal Business
• Razorpay
• Paytm Payment Gateway
• 2checkout
• Braintree
• Authorize.net
• CSG Forte
• Mercado pago
• Paygate
• PayEx
• Paystack

Rating

Zoho Books has been given an average rating of 4.4 out of 5.

Testimonials

Customer Support of Zoho

• Knowledge Base
• FAQs/Forum
• Phone Support
• Email
• 24/5 Call

Final Verdict on Zoho Books

Zoho Books is a top Quickbooks alternative for personal finances, providing a number of features to assist individual and small businesses in managing their finances. As one of the 7 best Quickbooks alternatives for personal finances, Zoho Books offers a user-friendly design, end-to-end accounting, customized reports, and affordable prices. 

6. Sage 50

Sage50 is a detailed accounting software aimed at small to medium-sized businesses, serving as a viable QuickBooks alternative for managing personal finances. It offers a range of functionalities, including inventory tracking, financial reporting, and payroll, and is designed for users requiring detailed financial control with compliance capabilities. Sage 50 is the best option for a scalable, all-inclusive financial management application.

Features of Sage 50

• Cash flow and invoicing
• Payments 
• Banking
• Advanced inventory management
• Job and project costing
• Reporting

Top 3 Features of Sage 50

1. Expense Tracking and Budgeting

Sage 50 allows users to record and categorize all expenses, making it easy to get a detailed view of where money is going. Users can create budgets for different categories or overall personal finances.

2. Bank Reconciliation

Sage 50 can connect with bank accounts and reconcile transactions. It ensures that the records in the software match the bank statements, making it easier to spot discrepancies or potential fraudulent activity.

3. Reporting

Financial statements give a picture of how a business is doing, and Sage 50 can produce accurate financial statements with options to choose a range of periods, budgets, and account segments

Pros of Sage 50

• Advanced tracking and reporting for personal assets.
• Budgeting tools for financial planning.

Cons of Sage 50

• Complexity exceeds basic personal finance needs.
• Higher cost for personal use.

Pricing of Sage 50

• Pro Accounting $595 /year
• Premium Accounting $970 /year
• Quantum Accounting $1610/year

Integrations of Sage 50

• Payroll
• eFile
• Direct Deposit
• Checks and forms
• Invoice Payments

Rating

Sage 50 has been given an average rating of 4.1 out of 5.

Testimonials

Customer Support of Sage

• Knowledge Base
• Chat
• Email/Help Desk
• FAQs/Forum
• Phone Support
• virtual meeting room
• Community discussions

Final Verdict on Sage 50

In terms of finding a QuickBooks alternative for personal finances, Sage 50 is a good option due to its extensive capabilities in producing detailed financial statements such as balance sheets, cash flows, and income statements. 

These statements are vital tools for assessing a business's overall financial health. While Sage 50 was primarily developed for businesses, its advanced functionalities make it a powerful tool for those requiring high precision when monitoring their personal finances. 

7. Netsuite

NetSuite can be used for personal finances and is predominantly known for its enterprise resource planning (ERP) solutions. It is a comprehensive software suite catering to businesses of all sizes. While its primary strength is optimizing business operations, some users venture into its financial management capacities for personal use.

Features of Netsuite

• ERP
• Accounting Software
• Global Business Management
• Customizable Reporting and Dashboards
• CRM
• Expense Management
• Multi-Currency Management
• Human Capital Management
• Professional Services Automation
• Analytics 
• Reporting

Top 3 Features of Netsuite

1. Customizable Reporting and Dashboards

NetSuite allows users to create detailed financial reports and custom dashboards. It can help people track and picture their income, expenses, assets, and liabilities in real time.

2. Expense Management

Although designed for businesses, this feature can also track personal expenses, categorize them, and attach related receipts or documentation.

3. Multi-Currency Management

For those who travel frequently or have financial dealings in multiple countries, NetSuite's ability to handle multiple currencies and provide real-time currency conversion might be beneficial.

Pros of Netsuite

• Being entirely cloud-based, it offers accessibility from anywhere and any device with an internet connection.
• Suitable for companies of all measures, from startups to large enterprises.
• Beyond just accounting, NetSuite offers ERP, CRM, and e-commerce solutions.

Cons of Netsuite

• NetSuite can be more expensive than other solutions, especially for smaller businesses.
• Due to its broad nature, there can be a steep understanding curve for those unknown with ERP systems.
• Setting up NetSuite can be time-consuming, especially if there's a lot of customization involved.

Supported Platforms of Netsuite

• Web browser
• Mobile app compatible with iOS and Android

Pricing of Netsuite

• Pricing starts at $99 per month.

Final Verdict on Netsuite

Regarding personal finance, NetSuite might be overkill for the average individual. Its suite is rich in features primarily tailored for businesses, and navigating it for personal use can be challenging. 

However, NetSuite could be a good fit for those already familiar with its ecosystem or require a more extensive set of tools.

Comparison Table

Best of Best

1. ZarMoney

ZarMoney, a Quickbooks alternative for personal finances, is known for its flexibility, making it suitable for businesses and personal finance management. It's user-friendly and offers a broad range of tools that can be customized to individual needs. 

While it's more beneficial for businesses, this can also be handy for individuals, especially those who run a side business or deal with significant assets.

2. Wave

One of Wave's significant advantages, especially for personal finance users, is that it offers many of its features for free. It makes it accessible for individuals just starting to manage their finances. 

Wave offers an intuitive, easy-to-navigate interface for those new to financial software that is manageable for the user.

3. Xero

Xero is cloud-based, ensuring that your data is accessible from anywhere, which is particularly useful for individuals or small business owners on the move. It allows automatic bank feeds, a significant advantage for personal finance. 

Once set up, transactions get pulled in, making the accounting or tracking process smoother.

Conclusion

Selecting the right financial management tool is essential for effective personal finance management. While QuickBooks is a popular choice, the alternatives highlighted offer a variety of features that cater to different needs and preferences.

While various tools are available in the market, ZarMoney offers a blend of simplicity and capability, making it a prime choice for those wanting to transition from QuickBooks to their financial management. 

Frequently Asked Questions (FAQs)

Q1. Do QuickBooks alternatives offer mobile apps for convenient finance management?

Many alternatives provide mobile applications compatible with smartphones and tablets, allowing users to manage their finances easily and conveniently.

Q2. How do alternatives to QuickBooks compare in terms of user-friendliness?

While user experiences may vary, some alternatives prioritize intuitive interfaces and user-friendly design, aiming to simplify personal finance management for users of all skill levels.

Q3. Can I monitor investments and retirement accounts using alternatives to QuickBooks?

Yes, certain platforms integrate investment and retirement account tracking alongside personal finance management, offering insights into portfolio performance and asset allocation.

Q4. Are there free alternatives available for managing personal finances?

Yes, some platforms offer free versions or trials, providing basic features for budgeting, expense tracking, and financial analysis without the need for a subscription.

Q5. Why would I consider ZarMoney as an alternative to QuickBooks for personal finances?

ZarMoney is primarily designed for business accounting, but its flexibility and intuitive interface make it suitable for managing personal finances. Its features can provide individuals with comprehensive tools to track their financial health.

Q6. How user-friendly is ZarMoney for non-business users?

ZarMoney has a user-friendly interface and strives to facilitate complex accounting tasks. Even for non-business users, the platform is intuitive, making it easier to get started and manage personal finances.