Xero is one of the pioneers of cloud accounting software. However, this platform has sprinted ahead of any other accounting system and is considered the best accounting software for businesses. But Xero is not only in the race of online accounting software. Currently, several other big rivals are offering Xero tough competition.

If you’re a regular Xero customer in need of a shift or just beginning a search for your accounting program, we’re here to help. We’ve compiled five Top alternatives to Xero equivalent to Xero in terms of accounting, features, the scale of market, mobility, and more.

This article will get to know about the other software that can be termed as Xero alternative and are budget-friendly.

After it arrived in 2006, Xero has expanded to more than 700,000 users worldwide, making it one of the largest rising small business accounting platforms on the market. The accounting software is available in different packages and the features and capacity increase with the increase of package scale.

5 Xero Alternative, which is best suitable for your business

Xero is a common medium-sized accounting software option, but it’s not for everybody. So let us see some of the top alternatives to Xero, such as FreshBooks, QuickBooks Online, Moon Invoice, Finsync, Sage Business Accounting, Invoicely, etc.

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1. QuickBooks Online

QuickBooks, the first top alternative to Xero. This cloud accounting software lets small companies capture revenue and expenditures, build and deliver invoices, and exchange accounts with accountants and consultants.

The software is available in three versions, with the features increasing as the size of packages. Following are the features of it.

  • Easy Start: Build and apply unrestricted forecasts and invoices, track sales and expenditures. Requires smartphone login, one consumer license, and more than 20 financial accounts.
  • Essentials: All in Easy Start plus the option to set up annual invoices and post-dated payments. Requires three user permits and more than 40 accounting records.
  • Plus: All in Basics, plus the ability to generate and submit buying requests, control inventory, and create budgets to anticipate potential expenditures. Requires five user licenses and more than 60 quarterly records.

2. Moon Invoice

Moon Invoice is another top alternative to Xero, as currently, 1.7M+ companies are using the services of Moon invoice. The company offers bill and invoicing services for various platforms including macOS, Windows, Android, and iOS. Also, it offers a free 7 days trial that most companies do not consider without having the bank or card details.

Here are the reasons why you need to go for Moon Invoice with an exquisite range of features.

  • Customized Templates – Select an invoice design that suits your business as well as a bit of professionalism.
  • Expense Tracking – Have a record of your expenses within a few seconds.
  • Online Payment Methods – Provide an exclusive range of payment options to your clients. Moon Invoice has 26+ payment options that make payments more secure and easy for your customers.
  • Performance measure – See your business analytics using charts and graphs.
  • Stock Alerts: Get a notification on low stock alerts for managing the inventory better and smarter.

3. FreshBooks

The next Xero alternative in our list is FreshBooks. Another Best accounting software for businesses, FreshBooks, helps small business owners track billable hours, generate professional-looking invoices, track expenses, and produce financial reports.

The software is available in 4 variants. The biggest differences between those variants are:

  • Sprout: tracking time, managing expenses, unlimited billing, etc. (Up to 5 clients).
  • Seedling: All the features of a sprout with billing up to 20 clients.
  • Evergreen: All the features of the seedling with billing up to 200 clients.
  • Mighty Oak: Everything at Sprout, plus unlimited clients.

Each package also permits invoice customization with the flexibility to line continual invoices, company logo, send payment reminders and settle for online payments and receive notification that invoices are viewed.

4. Finsync

Finsync came in 2014 but already offered strong competition in the online accounting software. FINSYNC is designed to help businesses keep their finances in sync. While it doesn’t have as many features available in Xero, and It has only four integrations, Finsync is the only software with the option of cash flow management and business analysis, and study of trends.

It also offers safe payment methods and mechanisms. The software provides unlimited users to bill and easy to operate with good customer support. FINSYNC is not as tried and true as Xero or QuickBooks, but it deserves a place in this article for its unique cash flow and payment offerings and ease of use. FINSYNC is ideal for small and medium-sized businesses, although large companies could also benefit from it.

5. Sage Business Cloud accounting

Sage one was its previous name; Sage Business software is simple to operate. Sage Business Cloud Accounting has a robust user interface with robust accounting and billing features, along with competitive pricing and more than 30 integrations.

The cloud accounting software lacks important functions like project management, time recording, or payroll, but there is a lot of automation that saves time and a unique cash flow forecast. This is the best accounting software for businesses.

Sage Business Cloud Accounting offers two pricing plans, between $ 10 and $ 25 per month for unlimited users, and all features opt for the topmost package available for unlimited users.

Also Read: Billing vs Accounting Software For Businesses: What Should You Know?

Bottom Line

So, here are our top 5 picks for online accounting software compared to Xero. If you are still in a dilemma about which software to select, try to answer the following questions.

  • Which functions do I need for my company to be successful?
  • What is your intended, planned amount for the software purchase?
  • Do you need cloud-based or just locally installed software?
  • How is your and your team’s experience?

While answering the questions can lead to the selection of the best accounting software for businesses. We recommend having a trial of one or two pieces of software for which you are interested. Use it before you try it. For more help, write us down at support@mooninvoice.com.