(disclaimer: this is not legal advice consult with a licensed professional)nn
Your dream is to build a hugely successful business, not struggle through your accounting and panic before taxes are due. So you look for accounting software. FreshBooks is a popular accounting solution for small business owners, but there are good reasons to try the alternatives.
Your business is unique. That means your business needs are unique. For most business owners, a service that meets your individual needs exceptionally well - like the custom bookkeeping and tax preparation service SynkBooks provides to save you even having to bother with those tasks - trumps a service that meets the needs of the average business owner in general.
In this article we’ll look at the top FreshBook alternatives for you to consider.
What is FreshBooks?
FreshBooks is an accounting software that comes with the features and tools that many business owners need, such as:
- A user friendly interface
- Access from any desktop/laptop, iOS or Android device, being based in the cloud
- Invoicing and receivable support functions
- The ability to invite your accountant
There are drawbacks, however. If you have more than 50 clients, for example, you can only use the highest tier subscription at $50/month if you want to invoice them all.
Why Look for Popular FreshBooks Alternatives?
While FreshBooks gets a lot right, it doesn’t suit everyone. For example, some might find the platform too expensive for what it does. But nothing suits everyone. Perhaps, you need help with taxes and have a FreshBooks account but you don’t have an accountant to invite to your FreshBooks account. FreshBooks alternatives have differing strengths, some of which may make them perfectly suited to your business.
Maybe you need a free alternative to FreshBooks at this stage of your business, or just want something slightly cheaper.
Regardless of the reason, evaluating the alternatives can only benefit you.
What to look for in an alternative to FreshBooks
Before considering FreshBooks competitors, get a clear understanding of your business needs. These are some things to keep in mind:
- Integration capabilities
- Special features
- Your business type (e.g. freelance, contractor, small business)
- Scalability options
The best alternatives to FreshBooks
Your bookkeeping and taxes done for you for a reasonable price
ThynkBooks by Tax Lab, Inc. (Now SynkBooks)
The SynkBooks accounting team will do your bookkeeping and tax preparation for you, leaving you to focus fully on your business. Unlike FreshBooks, with SynkBooks you don’t need an accountant to invite to the platform and do your bookkeeping and taxes.
SynkBooks is more than software. In our enterprise custom made package, our accounting team will work with you to fulfill your specific needs. We will take over your bookkeeping and/or tax preparation and get you started with a fresh start.
Once you sign up and connect your account, we will work together throughout the year getting you ready for tax time. We want to make sure that you get the best experience possible. We will ask you about all of your needs so we know when to deliver reports and when to schedule meetings so we can free you up to work on the things you love.
- Get in contact for enterprise bespoke package where bookkeeper will do your accounts
- We have a dedicated team that knows how to help small businesses.
- SynkBooks is ideal for the small business earning between $150,000 to $5 m.
- Less well-suited to medium and large companies earning $5 million and more.
SynkBooks’ services have been designed to help you so you can focus on your business. Sign up for a 14-day free trial and see how much time, money and stress SynkBooks can save you.
Low-cost entry point but price can rise suddenly with necessary add-ons
Wave is a cost-effective solution that many business owners are able to start using free of charge. This software program is great for small business bookkeeping because it doesn’t include all of the features of some of the advanced programs, so you can potentially save on features you will never use.
There is a simple navigation dashboard that outlines everything you will use, including:
Wave offers a limited free version of its software, with paid features as add-ons. Wave does impose a limit on invoice transactions, for example, whereas FreshBooks offers unlimited invoicing.
You can pay for bookkeeping support for $149/month or payroll and accounting coaching for $329/month, but this will just give you access to experts. They will not do the work for you. Still, it’s a free FreshBooks alternative for business owners who don’t have a lot of cash to spend on accounting.
- Starts at $0, with limited features.
- Features are add-ons (e.g. payroll costs $35/month extra).
- bookkeeping advice costs $149/month, payroll and accounting coaching costs $329/month.
- Professional accounting software accessible at no cost to begin with.
- You could find yourself spending quite a bit of money for features you can’t do without when you were driven to try the software because you don’t have much to spend.
Accounting software that scales from freelancer to medium-size company
QuickBooks Online offers packages with features designed for freelancers all the way up to medium-size companies. This scaling is a great feature if you expect your business to grow quickly. For example, if you left an industry where you are well-established and have many contacts and are striking out on your own.
QuickBooks Online tracks every aspect of your business. These help you automate aspects of your bookkeeping and save time on data entry.
- Customized reports
- Taking payments
- Managing bills
There is a QuickBooks Desktop version that can be used both online and offline but can only be installed on one computer.
Extensive training videos make QuickBooks Online a great alternative to Freshboo. However, QuickBooks Online training can be very expensive, especially for a small business. You will also need the highest tier subscription to access integrations into software you may already have, like Salesforce or HubSpot.
- Four price plans
- Starts at $25/month for most basic plan
- Highest tier costs $180/month
- Has many key features for freelancers or small businesses
- QuickBooks Desktop version available for offline use
- Extensive training videos
- Payroll costs an extra $45/month for basic features, up to $125/month for advanced features
- QuickBooks Desktop can only be used from one computer
- Expensive training
Affordable basic accounting software with missing features you may or may not miss
Sage offers affordable, basic but good accounting software, although depending on your business there are some sorely missed omissions. Sage has been making accounting software for over four decades. They have many different accounting software products, which can be confusing, so you must be sure to get the right one. Sage Start and Sage Accounting are designed for small businesses and freelancers.
Sage Accounting ($25/month) gives you unlimited users to Sage Start’s one ($10/month). Sage Start allows you to invoice and track your invoices, whereas Sage Accounting also allows you to manage purchase invoices, forecast cash flow and send quotes. If this is all you need for your business, Sage represents good value for money, but the features can be limiting.
The software, for example, does not offer time tracking. This could be a very useful feature for freelancers who are paid by the hour, for example.
- Sage Start: $10/month
- Sage Accounting: $25/month
- Good for very simple businesses
- Limited features
- No time tracking
A well-designed app to help you get your accounting done on the move
Business owners who rely on running their business from their phones may choose Xero as their software. Xero is a leader in app innovation, with a functional dashboard optimized for mobile devices. Moreover, connectivity capabilities allow you to integrate outside apps, such as CRM, documents, payroll processing, and time tracking.
Xero partners with dozens of vendors and third-party apps to make your entire accounting function flow smoothly. These features come at as little as $25 a month. Setup is simple, you can customize your dashboard, transactions are simplified for inexperienced users, and you receive transparent insight into your business’s financial health.
Unlike many other accounting software programs, Xero offers users advanced inventory and stock management features. This is essential for businesses that hold inventory, such as an e-commerce store. However, there may be invoice processing limitations at the basic software package level, making upgrading a necessity.
- $12/month for restrictive lower tier (e.g. 20 invoices/month)
- $34/month for most popular middle-tier (bulk reconcile transactions)
- $65/month for higher tier (necessary for foreign currencies)
- Great if you’re on the go a lot and can use the time to do small bursts of accounting
- A good generalist accounting programme
- Many integrations available
- Expensive higher tier for businesses that need to transact in foreign currencies
Which accounting software should you choose?
If bookkeeping isn’t for you, that’s okay. There are companies out there that focus on maintaining the books for you. SynkBooks does just that. Our accounting team eliminates the stress surrounding keeping your books up to date, which allows you to focus on other important areas in your business.
Our team is experienced in helping small businesses and is low-cost, making the decision simple. Don’t spend hours trying to learn to use new accounting software. Instead, leave your bookkeeping to us so you can spend your limited time on growing and managing your business..