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myBooks Quickbooks Alternatives Small Business Accounting

Which Quickbooks Alternatives Can Help You Efficiently Scale Your Business?

Developed in 1994, Quickbooks has been helping businesses manage accounting and bookkeeping for more than two decades now. Intuit, the company behind Quickbooks, continues to roll-out new version and extensions to the software to help businesses scale efficiently. However, businesses running on a tight budget can often find the software expensive with features they do not require. Numerous accounting solutions have been developed in the past two decades with a special focus on meeting the needs of small and mid-sized businesses. 

Some of the best alternatives to Quickbooks for small businesses are:

SlickPie

SlickPie is a free accounting software which is ideal for small businesses that require only a certain set of features and do not want to spend any extra money on bookkeeping. The accounting solution offers all the features required for effectively managing the accounting for a small business. With options for inventory management, invoicing, recurring invoices, reporting, sales tax management, and payment processing, the software covers all the basic requirements of small and mid-sized businesses. Additionally, businesses can pay and get access to the automated receipt entry system, MagicBot. The free version allows users to enter 100 receipts per month, but with the MagicBot feature, they can extend it to unlimited receipts. 

One UP

A basic accounting solution for small businesses, ONE UP is an efficient bookkeeping software for covering the basic needs of your enterprise. The accounting software offers features such as inventory management, profit and loss tracking, sales tax management, and a basic version of Customer Relationship Management (CRM). However, a key aspect of the software that makes it stand apart is its categorisation ability which automatically identifies different categories based on a series of transactions made over time. Although the simple and efficient system is great for small businesses, its pricing can deal a huge blow to your budget as the basic plan starts at $9 per month for a single user and premium plans are marked at $169 per month for unlimited users. 

FreeAgent

FreeAgent claims to be an accounting solution tailored to the needs of freelancers and their small business setups. The software offers functionalities such as time tracking, project management, and invoicing to help freelancers keep a track of how much hours and material they are utilising for their work. In addition, automated invoice and payment tracking aid freelancers and businesses in analysing the profitable clients and streamline their strategies to minimise losses. While the software does provide the necessary features 

myBooks

myBooks, from Zetran, is an efficient and cost-effective Quickbooks alternative which can help small businesses manage their accounting while providing them with the advanced features required for expanding their purview. With standard plans starting from $4.99 per month and premium plans with unlimited access to all features marked at $9.99, the accounting software offers a plethora of services which enable businesses to effectively streamline their bookkeeping. Users can also opt for the free version of the software, which gives them access to limited features. Features such as auto bank feeds, multi-currency transaction handling, and intuitive invoicing at affordable prices make the accounting software ideal for small and mid-sized businesses. Equipped with AI capabilities, myBooks provides in-depth and detailed accounting insights on its dashboard which can help businesses identify key shortcomings in their strategies and highlight their strengths. Being a cloud-based platform, the accounting software can be accessed from anywhere and anytime, allowing users to access business records on the go.

Significant advancements in digital accounting are giving business owners the liberty to choose from an array of options based on their requirements and budgetary needs. Business owners need to thoroughly analyse their requirements and continuously upgrade to better services in order to maintain a competitive edge in the market.

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Small Business Accounting

What Are the Top Quickbooks Alternatives to Help You With Your Business?

Proliferation in network and internet connectivity coupled with advancements in cloud technology has led to the start of a new era in accounting. Businesses are increasingly looking to leverage the technologies to consolidate their position in the competitive market landscape. Quickbooks by Intuit has remained at the helm of the development with the company constantly evolving in order to meet the changing demands of small and mid-sized businesses. However, you may find yourself wondering whether the accounting solution is really what is required for your business. With an assortment of features, Quickbooks is definitely one of the best bookkeeping software in the market, but small-businesses often find themselves in possession of excessive features which they do not necessarily require. 

In order to help you figure a way around it, we have compiled a list of some of the best free and paid Quickbooks alternatives:

myBooks

This accounting solution from Zetran is one of the most cost-effective digital bookkeeping software which offers a host of features that are enough to cater to the day-to-day accounting needs of both, small and mid-sized businesses. With features such as multi-currency handling, income and expense management, and an intuitive invoicing system, myBooks offers all the basic accounting functionalities at costs as low as $4.99 per month. In addition, the software is powered by sophisticated analytical and artificial intelligence capabilities which help users in generating in-depth reports. Its enterprise-level data security platforms sensitive business information remains safe and away from the dangers of thefts and breaches. 

The vast variety of accounting solutions available in the market is helping business owners develop a better perspective of their bookkeeping needs. Additionally, the intensifying competition in the digital accounting solutions market is benefiting businesses with companies continuously working towards offering sophisticated services at lower costs. 

Wave

One of the best free Quickbooks alternatives, Wave offers almost all the features you find in the rest of the accounting software. A perfect fit for sole proprietors and small businesses, Wave generates automatic reports by using its income and expense tracking features. 
Additionally, the software automatically tracks every transaction made from your enterprises’ bank account and is equipped with the capability of extracting relevant information from scanned receipts. With payroll processing and credit card payments management, the system is well suited for small and mid-sized businesses running on a tight budget. The only shortcoming of the accounting solution is its inability to print bill payment receipts. Nonetheless, Wave is one of the best alternatives to Quickbooks online.

FreshBooks

A fully cloud-based platform the accounting solution does not require any installation and configuration. Additionally, its user-friendly interface makes it incredibly easy to operate. The flexibility of the cloud allows users to access business data from anywhere without the limiting factor of the information being restricted to a single location. Apart from the basic income and expense tracking, the accounting solution helps businesses maintain job estimates and manage credit card payments and invoicing. Being a fully mobile platform, FreshBooks gives its users the liberty to link it to multiple devices. With the option of a 30-day trial, you can opt for a hands-on experience of the accounting solution to make an informed decision.