Having a solid accounting foundation is crucial for successful business operations and growth. Adopting the right tools is essential, and choosing the right accounting software should be a top priority.
Xero is a widely used financial collaboration solution favored by small businesses and appreciated by accountants for its ease of use and comprehensive financial management features.
Despite its popularity, it's also essential to consider other options, as accounting software is a widely used technology. Many alternatives have advanced features such as integrated APIs, time and expense management, and workflow capabilities. Factors such as payment processing and customer service should also be considered when exploring Xero alternatives.
This article highlights Xero alternatives that offer a more affordable and superior option for managing your accounting needs. We listed down their unique features and pricing plans to help you make informed decisions for your business.
1. FreshBooks
FreshBooks simplifies the process of handling invoices and subscriptions by seamlessly integrating with popular business applications, offering a comprehensive suite that eliminates the need for additional software.
With a user-friendly dashboard, it provides full financial control and allows for customization. Regular secure backups ensure the safety of user data, and tracking capabilities are available through Android and iOS apps, even outside of work hours. The vendor is constantly updating the software with new and improved features to aid users in their financial management.
Features:
- A solution that balances simplicity and power
- Optimized for mobile devices
- Online payment capabilities
- Seamless invoice to the payment process
- Comprehensive billing history management
Pricing:
- Lite – 5 Billable Clients = $1.50 per month
- Plus – 50 Billable Clients = $3.00 per month
- Premium – Unlimited Billable Clients = $5.50 per month
- Select – Unlimited Billable Clients = custom pricing
2. QuickBooks Online
QuickBooks Online is a widely-used accounting software for small businesses, freelancers, and finance professionals. With its ability to simplify complex accounting tasks, it's a popular choice among bookkeepers and business owners. The software provides access to its features for up to five users and restricts certain functionalities for unlimited user subscriptions.
A major advantage is its centralization of business profiles and reports, accessible to multiple users, which also includes features like creating invoices, billing, profit and loss statements, and trade sheets. The software's dashboard provides flexibility for creating custom reports and feeds, and all its functionalities are available on mobile devices.
Features:
- Online Access to Account Management
- Security and Data Backup
- Support and Upgrade Availability
Pricing:
- Simple Start – $8.50 per month
- Essentials – $13.00 per month
- Plus – $18.00 per month
3. Sage Business Cloud Accounting
Sage Business Cloud Accounting is a cloud-based platform designed for small businesses to manage accounting, expenses, and compliance. What sets it apart from its counterpart, Sage 50c, is that it's an add-on service that allows for integration with the cloud. This enhancement strengthens the system's capabilities.
Users can have a complete view of their business performance at any time and location, thanks to its charts, dashboards, and activity overviews. The software also provides essential tracking tools, including the generation of sales and purchase records, as well as bank statement imports, to monitor cash flow.
Conveniently, the software is accessible via smartphone, giving users real-time access to client data and the ability to take notes on the go.
Features:
- Small Business Accounting Solution
- Cloud-Based Storage and Accessibility
- All-In-One Dashboard with Powerful Features
- Tax Management Support
- Optimized for Mobile Use
Pricing:
- Sage Accounting Start – $10.00 per month
- Sage Accounting – $7.50 per month
4. Tipalti
Tipalti is a well-known cloud-based accounting software that helps businesses meet deadlines and resolve issues such as non-compliance, late payments, heavy administrative workload, and human errors. This solution significantly reduces the time spent on financial management and improves the productivity of accounting teams.
In addition to these benefits, Tipalti offers global payment process management, including onboarding and tax compliance. The software can simplify payment processing in over 190 countries and help companies stay compliant with tax and regulatory standards with minimal manual effort.
Using Tipalti not only streamlines payment processes but also enhances the payment experience for both customers and vendors and improves the overall quality of service.
Features:
- Automated Payment Processing
- Payment Facilitation Services
- Tax Compliance Support
- Advanced Reporting Features
Pricing:
Book a demo for more detailed pricing options.
5. DocuPhase
DocuPhase is an organizational automation platform that offers features to support financial and accounting teams, with the ability to customize configurations to meet their needs. The platform streamlines the accounting process by automating accounts payable operations, eliminating paper, and reducing processing time from weeks to days.
Additionally, DocuPhase integrates with point-of-sale (POS) systems to improve procurement control and automate payments to ensure compliance with deadlines. This allows employees to focus on high-value tasks rather than spending time on repetitive, time-consuming activities.
Features:
- Automated Accounts Payable
- Point of Sale Integration
- Automated Payment Processing
- Efficient Audit Processes
Pricing:
Contact their sales to see what they can offer pricing plans that are tailored to your business needs.
Bottom-line
Xero is a widely used accounting software application, but it may not be the best choice for your business. If you're unsure which app to choose, it's recommended to read comprehensive reviews of Xero competitors to determine the best fit for your small business.
If you're looking for a wider range of options, we've got you covered. Our evaluations cover the major benefits of top Xero alternatives and provide you with valid reasons to choose Xero over a competing application and vice versa.
Readers Disclosure: Our content is supported by our reader, that means some of the link from this article and within this website are affiliate links. If you click any of these links, then we may earn a commission with no extra cost to you.
