Top 10 QuickBooks Alternative for Small & Medium Business

Accounting is a standard process of identifying, recording, summarizing, interpreting and communicating financial information, etc. It discloses profit or loss for a given period, and the value and nature of a firm’s assets, liabilities and owners’ equity. you will get to know about 10 QuickBooks alternative for small and medium businesses in this article.

History of Accounting

Luca Pacioli was the first who described the system of double-entry bookkeeping used by Venetian merchants in his “Summa de Arithmetica, Geometria, Proportions et Proportionality.” Pacioli who was the first to explain the system of debits and credits in journals and ledgers that is still the basis of today’s accounting systems.

In 1887, thirty-one accountant joined together to set up the American Association of Public Accountants. The first normalize test for accountants was given a decade later, and the first CPAs license was given in 1896.

Branches of Accounting

Financial Accounting   You can make periodic reporting
Management AccountingAnalysis of the accounting information within the organization
AuditingExamination and verification of company accounts
Internal AuditorIt is responsible for company management
External auditorIt presents fairly the financial position of the company
Tax AccountingIt is based on laws enacted through the legislative process
Fund AccountingIt is used for nonprofit entities
Forensic AccountingIt analyzes the financial evidence, and then give expert testimony in court

Financial Statements of Accounting

Balance Sheet It tells you whether the company can pay its bills on time
Income Statement It tells you both the earnings and profitability of a business
Cash Flow StatementIt shows the flow of cash in the business
Statement of Changes in EquityIt shows the changes in equity as per time and year

Why are we using the new style of accounting instead of the old one?

  • As of now, all firms are using the new style of accounting instead of the old one because it takes more time to perform a task and their result is not very accurate.
  • In the old type of accounting the single person or group of people check the account of your company only, but if you use a new type of accounting software then you can check the accounting of your company as well as your competitive companies which may help you to know that you are having growth in the business or not.
  • Earlier days you want to take the accountant everywhere to check the account of your firm. But nowadays you can check it by open the accounting software from anywhere you are without personally visiting the accountant.
  • There will be a notification for any due payment to the third party in the new style of accounting software. If you are using the old style of accounting then you cannot get the notification directly to you. But it comes first to the accountant and then forwards it to you. If somehow the accountant forgets to tell you that there a due payment to someone of the third party, then you will no idea to pay the due to him. As a result, your business will go with the loss.

Factors of Accounting Software

  • Multi-User Access
  • Multiple Business Support
  • Cloud-Based Software & Mobile Access
  • It’s easy to use
  • It notifies me when invoices are viewed
  • It’s accountant-friendly
  • Add-on Services
  • Provide 24*7 Customer Care Service

Best Top 10 QuickBooks Alternative Software for Small & Medium Business

  1. FreshBooks
  2. Xero
  3. Zoho Books
  4. Wave
  5. Sage Intacct
  6. NetSuite
  7. Fusebill Subscription Billing
  8. Multiview
  9. CentralBOS
  10. FinancialForce Accounting
  11. AccountEdge Pro
  12. Bench
  13. Billy
  14. bookkeeper
  15. Bottom Line Accounting
  16. ClearBooks
  17. Denali
  18. FreeAgent
  19. GnuCash Free Accounting Software
  20. GoDaddy Online Bookkeeping
  21. Harvest
  22. Hiveage
  23. InfoFlo Pay
  24. Intuit QuickBooks Online
  25. KashFlow
  26. Kashoo
  27. Less Accounting
  28. Sage Intacct
  29. Quicken Home & Business
  30. Sage 50cloud
  31. OneUp
  32. Sage Business Cloud Accounting
  33. Simple Invoices
  34. Tipalti
  35. WorkingPoint
  36. Yendo
  37. ZipBooks


FreshBooks is a cloud-based accounting software service designed for small businesses that they send invoices to clients and get paid for their time and expertise. It was developed by Mike McDerment and Joe Sawada in 2003.

Freshbooks is accounting software which is used by the business firms or the companies for their each and everyone growth of the business.

Advantages and Disadvantages of FreshBooks

Advantages of Freshbooks

  • Save Time Billing
  • Easy to Use
  • Send Invoices in Seconds
  • Multi-Currency Invoicing
  • Payment Reminders
  • Add Expenses to Invoices in a Flash
  • Easily Connect with Other Apps
  • It tracks working times and expenses simultaneously

Disadvantages of Freshbooks

  • It still lacks some enterprise-grade capacity.
  • Some users don’t seem to know that their invoices won’t be automatically transferred from other systems such as QuickBooks and that they will have to enter them manually in order to modify them.
  • Minor bugs come in between while the user is working in the Freshbooks which lead to an interrupt in the transaction of data.
Top 10 QuickBooks Alternative for Small & Medium Business

For more information: Read Freshbooks vs QuickBooks


Xero is beautiful online accounting software. It provides businesses with a real-time view of their financial position in a way that’s simple, smart and secure. Xero manages the tedious, repetitive works for them, and then gives powerful insights into the state of their business.

Financial institutions, government departments, and large enterprises can connect seamlessly with Xero.

We’re building a financial web-centered on small businesses and connecting them with the entities and information they need to thrive.

What’s a direct feed?

A direct feed is a primary connection between a financial institution and Xero. It’s a reliable electronic transfer of account transaction data from a financial institution to Xero.

How is the data transferred?

When the financial institution has processed its regular transactions, a batch file of data for multiple buyers is sent to Xero. Xero compares the data with individual customers and uploads it to their Xero account.

 Automated (via internet banking)Manual (via a paper form)
Set-up process
  • The customer logs in to internet banking.
  • The Customer selects the accounts for data transfer to Xero.
  • The Customer logs into Xero and selects which Xero organization the bank account data feeds into.
  • Financial institution sends data to Xero.
  • Xero matches data to the customer.
  • Financial institution sends data to Xero.
  • Xero matches data to the customer.
  • A Customer sends the form to Xero, who then sends it to the financial institution.
  • Buyer signs form authorizing data transfer.
  •  Fast set up
  • Security
  • Automated
  • Lower cost
  • Paper record

Advantages and Disadvantages of Xero

Advantage of Xero

  • Support more clients in less time.
  • Real-time financial reporting.
  • Backup of each and every transaction in Xero.

Disadvantage of Xero

  • Limited payroll processing with Xero.
  • Limited to 2 tracking categories.
  • It is based on the cloud only.
Top 10 QuickBooks Alternative for Small & Medium Business

Zoho Books

Zoho Books is an online accounting application that gives you complete visibility of your finances. It also helps you to manage the money moving in and out of your business.

Advantages and Disadvantages of Zoho Books

Advantages of Zoho Books

  • The real-time collaboration.
  • It helps to send professional invoices to customers and begin receiving online payments from them all from a single platform.
  • It is easy-to-use.
  • Zoho Books helps to regain control over the company’s finances.
  • It helps you to manage finances per projects, where you can add tasks, assign members, and follow processes using your mobile device.

Disadvantages of Zoho Books

  • It offers fewer integrations than other accounting software.
  • It doesn’t include payroll services.
Top 10 QuickBooks Alternative for Small & Medium Business
Zoho Books


Wave is cloud-based accounting software. It provides you real double-entry accounting for small businesses. Wave Accounting permits you to access your details from anywhere, add unlimited collaborators and work on all of your businesses from a single login. It also eliminates data-entry and puts the financial reports as your presentation.

Advantages and Disadvantages of Wave

Advantages of Wave

  • It is freely available to use by the companies or firms.
  • Wave Accounting has a user-friendly interface environment to work on.
  • It allows for the integration of bank and credit card accounts.
  • You can invite collaborators. For example, an accountant or business partner can access your accounting.
  • All your data is in the cloud, which makes access from anywhere simple.
  • The transactions are saved in a categorized file, which is then fairly simple to categorize by choosing the appropriate account.

Disadvantages of Wave

  • There is no time tracking function.
  • It does not permit a great deal of customization.
  • There doesn’t show to be any inventory functionality.
  • You can’t transfer balances and transactions from other accounting software. This has to be done manually.
  • There is no allocating or prediction capability.
Top 10 QuickBooks Alternative for Small & Medium Business

Sage Intacct

Sage Intacct is a cloud accounting software based on customer satisfaction. It helps to access integrated management and financial reports across their business entities. It also helps to deliver the automation and controls around billing, accounting.

Advantages and Disadvantages of Sage Intacct

Advantages of Sage Intacct

  • It has a built-in report template.
  • Sage Intacct is designed to handle the processing of related to credit cards and bills.
  • It is easy to use.
  • It helps to segregate user access controls.

Disadvantages of Sage Intacct

  • It does not provide an integrated solution to the accounting package.
  • Automatic marketing & sales force management is not provided.
  • It does not reveal the financial status.
Top 10 QuickBooks Alternative for Small & Medium Business


NetSuite is an American cloud computing company based in San Mateo, California. It is to sell the group of software services used by the manager of business Financials, operations, and customer relations.

Advantages & Disadvantages of NetSuite

The advantages of NetSuite are as follows:

  • It is flexible in nature.
  • NetSuite provides a distinguishable difference from other ERP systems.
  • It is a native small client solution developed for on-demand internet delivery.
  • It provides good lead distribution.

The disadvantages of NetSuite are as follows:

  • It is difficult to use the system.
  • Charging an additional recurring fee of 22.5%to 37.5% for users who need support via email.
  • It is very expensive compared to other accounting software.
Top 10 QuickBooks Alternative for Small & Medium Business

Fusebill Subscription Billing

Fusebill Subscription Billing gives you automated invoicing, billing and group for subscription-based companies. It simplifies the subscription by automating much manual accounting.  It is a cloud-based platform.

Advantages of Fusebill Subscription Billing

  • It is easy to create & deploy new offerings.
  • You can simply track the results in elegant dashboards, all without any IT involvement.
  • It can simply determine which products, services, and bundles are working.
  • You can simply track all of your key ledger details in real-time and fully exportable to other systems.
  • You can simply handle worldwide taxation requirements.
  • It helps the entire organization from the back office to customer service.

Disadvantages of Fusebill Subscription Billing

  • It is a very expensive software of accounting as compared to other software.
  • You need to constantly update the accounting software to work on it.
Top 10 QuickBooks Alternative for Small & Medium Business


Multiview is a company of accounting experts. Its purpose is to build interact seamlessly with each other. We ensure that each implementation is handled by the team of experts. It delivers multiple options and provides user-friendly to work on. It provides highly scalable solution standards with powerful tools to deliver effortless intercompany, multi-currency & multi-level reporting.

Advantages of Multiview

  • It is a user-friendly environment to work on.
  • All the results of the transaction are accurate.
  • It automatically routes the tasks.
  • It helps to create budget approval workflows and then compare the budget to actual results.
  • Multiview helps to eliminate errors & extra work.
  • It gives you complete control over the payments.
  • It enhances that there is a relationship with the vendor.

Disadvantages of Multiview

  • Multiview is not publicly available.
  • It doesn’t span a great deal of accounting functionality.
  • It is very expensive compared to other accounting software.
Top 10 QuickBooks Alternative for Small & Medium Business


CentralBOS is a cloud-based accounting software that is used in accounting. It helps the small business to make better decisions in real-time. It helps to keep all the transaction in a systematic order, so that they may be referred in future.

Advantages of CentralBOS

  • It automatically generates the payments and then checks all the due bills.
  • It automatically gives the invoice alerts based on the preset rules.
  • They will give you the remainder of the due payment.
  • You can customize financial reports.
  • It helps to improve the inventory.
  • The payroll data are automatically uploaded in the general ledger after each payroll process is closed.

Disadvantages of CentralBOS

  • It is very expensive compared to other accounting software.
  • There will be a risk of data while the transaction of data in CentralBOS.
  • You need to maintain the CentralBOS accounting software ones in the month before any work on it.
Top 10 QuickBooks Alternative for Small & Medium Business

FinancialForce Accounting

Accounting is accounting software that is used to keep the accounting transactions of business or firm. It also allows you to accommodate the most complicated and diverse financial needs.

It helps to enable your accounting operations by cutting it in half.

Advantages of FinancialForce Accounting

  • It processes the order of financial accounting in a sequential way.
  • FinancialForce Accounting helps to store financial data with the most accurate model.
  • It also supports multi-dimensional financial analysis.

Disadvantages of FinancialForce Accounting

  • The company doesn’t use purchase orders.
  • There is no current application offered to support FinancialForce Accounting.
  • It is very expensive compared to other accounting software.
Top 10 QuickBooks Alternative for Small & Medium Business

AccountEdge Pro

AccountEdge Pro comes with many features like DIY or outsourced payroll services that help you to link accounting to payroll, pay your employees, track time and prepare payroll taxes. And the best part for the Retailers is its inventory-management suite integrates with the popular e-commerce platform Shopify. AccountEdge Pro works on both Mac and Windows platforms.


The bench is an online platform that provides bookkeeping software and services to small businesses. The company estimates that its AI-enabled platform can automate 75 percent of a bookkeeper’s typical tasks. It syncs with your business bank and credit card accounts, provides monthly financial statements with visual reports, and offers support to your CPA at tax season. When you have questions about your finances, you can contact your dedicated bookkeeper and receive a response within one business day.

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