Are you looking to buy an accounting and billing software package for your business? There are numerous options in the market, but it is best to choose a highly efficient one. Why is it essential to pick the best in the market? According to a US Bank survey, 82% of the businesses end up closing because of mismanagement in cash flow. If you wish to be in the other 18%, it is vital to pick a reliable one.
You might be familiar with FreshBooks. It is one of the leading accounting software in the market. It is customizable and reliable. But if you are looking for a FreshBooks alternative, here are the top five options in the market.
1. Moon Invoice
Moon Invoice is a good choice for all business styles. The software offers unlimited invoices, estimates, purchase orders, and credit notes. It also comes with a dedicated expense tracker. If your business has recurring invoices and expenses, it becomes easier to manage those with Moon Invoice.
Moon Invoice also handles multi-currency and multiple businesses in the same platform. According to a Forbes study, using cloud computing can reduce labor costs by 50% and better utilization of capital by 75%. You can enjoy cloud sync features with Moon Invoice. It offers mobile payment options too. For companies looking for free invoice and billing software for Mac, iOS, Web, Android, and Windows, the Moon Invoice is a great choice.
If you are a growing business, scalable software is essential. Moon Invoice is suitable for all business sizes, and it is easier to scale up or down based on your needs.
Advantages of Moon Invoice over FreshBooks are:
- Easy setup, induction, and configuration
- Easy-to-use dashboard with an overview
- Multiple platform compatibility
- Database management, small business CRM, and systems management features
Xero is becoming a popular FreshBooks alternative for small and sole businesses. It offers enterprise-level packages, too. Since the software has tie-ups with third-party apps, you can enjoy a wide range of features. If you are looking for advanced features and better functionality in the dashboard, it is best to upgrade to higher packages.
Xero’s professional package offers features to handle volumes of invoices, quotes, and bills with ease. Xero also offers multi-currency functionality, payroll management, and more.
However, Xero does not have the facility to accept credit card payment or track the invoices for better management. The vendor offers a free trial period for thirty days to understand whether it is a good match for your requirements.
Advantages of Xero over FreshBooks:
- Simplified transactions
- Easy financial health overview
- Automated payroll processing
- Tax adjustments
- Better stock and inventory management
3. Zoho Books
Zoho Books is a top alternative for FreshBooks for small businesses. It helps with simple and easy management of finances and allows users to generate professional invoices. It can also manage online payment and give a better overview of the expenses.
This software’s other features are inventory management, project time tracking, templates for invoices, automatic bank feeds, and contract management. It offers multi-platform compatibility with Android, Windows, and iOS devices.
Advantages of choosing Zoho Books over FreshBooks are:
- Better tracking of invoices
- Automatic bank feed, payment reminder, and other workflows
- Tracking projects and time
- Better customer collaboration options
QuickBooks is one of the best FreshBooks alternative software that comes with a multitude of features. It provides tracking and management features and comes in a variety of pricing options. Top Features of the software are customized templates for email, tracking bounced checks, calendar view, customer forms, contract management, and others.
However, the software does not meet expectations in handling multiple currencies. It does not sport features for collaboration either. The simple package has limited features, and thus, it becomes essential for small businesses to choose bigger packages.
If you have the QuickBooks Pro package’s budget, you can enjoy numerous features and functionality to manage your business from a single platform.
Advantages of QuickBooks over FreshBooks:
- Better organizational capabilities
- Advanced security features
- Offline availability of features
- Overdue bills tracking
- Better scheduling options
Intacct is one of the best alternatives to FreshBooks if you want well-planned, feature-rich software with cloud facilities. Intacct’s scalability feature makes it a better option than most other products in the market. The features of this package have AICPA accreditation, and thus, it is very reliable.
Any company which needs active monitoring of finance can rely on Intacct. It is a mobile-based platform for both Apple and Android devices. The flexible pricing package and Intacct’s easy integration facility make it the best choice for small, medium, and large organizations. Beyond basic accounting features, the software also offers automated journal entry, trial balance automation, and bank reconciliation. It gives multi-currency support too.
Although the product offers a flexible pricing package, it is important to know that it may not be affordable for small and new businesses. It has a multi-functional interface but is quite outdated than most other options in the market. Beyond these, the speed is quite a major concern.
Advantages of Intacct over FreshBooks:
- Wide range of features for basic and advanced needs
- Simple and easy integration with legacy systems
- High security with limited user access
It is impossible to tag one software package to be far superior to others in the market. It depends on the features that a company needs. Although the above-mentioned five FreshBooks alternative packages are the leading ones in the market, it does not automatically make the perfect match for your business. Compare all the software packages and make an informed decision.