As FreshBooks states, this is to “simplify everything from payment to payroll.” You can integrate popular apps such as Indeed, Acuity Scheduling and NiceJob. For example, integrating with NiceJob can automate FreshBooks to solicit and capture reviews and referrals from your existing client base. If you’re running a small business with simple finances, you might be able to handle it all on your own with Xero. But if you have intricate transactions or can’t tell a balance sheet from a grocery list, it’s probably time to call in the bookkeeping cavalry. Zapier is the leader in workflow automation—integrating with thousands of apps from partners like Google, Salesforce, and Microsoft.
Time tracking and client management
The Online plans start at $35 per month while the only current Desktop version, Enterprise, must be paid annually and start at $1,922 per year. Freshbooks, Quickbooks, and Xero are some of the best accounting software available, and they have many similarities. They are all cloud-based, double-entry accounting systems that allow you to manage your inventory, invoices, taxes, track your projects and time, and reconcile your bank’s information.
- However, FreshBooks is a better option if you’re only looking for invoicing software.
- With current promotional pricing, FreshBooks starts at $7.60 per month while QuickBooks starts at $17.50 per month.
- From CRM systems to payment processors, QuickBooks integrates with a wide range of popular platforms, saving you time and effort.
- Another option is Wave, which is a free accounting software program that includes invoicing, payroll, double-entry and sales tax tracking.
- Has robust reporting tools and report customization options, invoicing for an unlimited amount of clients, inventory tracking in higher tier plans, plus a capable mobile app.
Best Free Accounting Software of 2024
Where FreshBooks allows customization of invoices, QuickBooks allows invoice customization along with the ability to customize users’ roles and workflows. QuickBooks offers specialized tutorials to help users make the changes that work for them. Both FreshBooks and QuickBooks are popular accounting software programs because they meet the needs of a wide range of clients.
Two of the best options on the market today are FreshBooks and QuickBooks, so Forbes Advisor compared FreshBooks vs. QuickBooks to help you decide which is best for you. Xero’s interface feels a bit more clean-cut and professional, which is more what I’d expect from accounting software. While I did appreciate the dashboard’s clear and customizable widget feature, the interface felt a bit intimidating initially. There weren’t tips guiding me through the process of adding clients and invoices or creating reports. Wave Accounting is free, but it doesn’t skimp on invoicing capabilities, making it a good solution for very small service-based businesses and consultants.
If you need to give accounting access to more than five people, Xero could be the better option for you. QuickBooks Online’s most popular Plus plan tops out at five users; its highest-tier Advanced plan allows up to 25 users, but that plan is expensive at $235 per month. In contrast, all Xero plans offer unlimited users and its highest-tier Established plan is a more affordable $78 per month.
Plans & pricing
Plus, Xero doesn’t seem to care to consolidate its mobile experience into one app—there are different Xero apps for managing expenses, projects, and more. FreshBooks and Xero are both powerful accounting tools that can help businesses keep their financial information and assets organized and accessible. But the two apps are geared toward different what is a hurdle rate audiences, which explains their functional differences.
Xero has more (and better) accounting features for established businesses
All you have to do is save your credit card, banking or other payment details online in the FreshBooks application so you’re automatically billed each time an invoice comes due. Imagine doing this without invoicing software—dealing with paper invoices and receipts and having to keep track of phone and address records separately. But QuickBooks goes beyond basic accounting, with hundreds of physical presence app integrations, detailed inventory tracking in higher-tier plans and customizable reporting. Plus, it’s easy to scale and share with your accountant — all features you’d expect from the best accounting software for small businesses. Xero offers accounts payable features with all plans — although you can enter only five bills per month with the Early plan.
It’s easy to see why QuickBooks is a standout choice for small-to mid-size businesses. Its intuitive interface, robust feature set, and readily available customer support make it a comprehensive and user-friendly solution designed to help grow—and scale with—your business. Another option is Wave, which is a free accounting software program that includes invoicing, payroll, double-entry and sales tax tracking. Whatever your needs, there’s sure to be an accounting software program that’s how to read a statement of cash flows a perfect fit.