In ancient times, businesses kept records of their financial transactions through manual methods. Most times, the process was cumbersome and rigid. But with the advent of accounting software, this is no longer the case. This software made the bookkeeping process for businesses easier. Prominent amongst them is Xero, a software designed majorly for small businesses. Let’s find about about Xero competitors.
While Xero may be an amazing software that helps little businesses to handle time-consuming record-keeping tasks, it does not lack competitors. Xero has competitors that are proficient in aspects where it is not. Below are some of the best Xero competitors available.
Top Xero Competitors In The Accounting Software Industry
Based on how big your business is, Xero may or may not be its ideal accounting software. Whatever the situation is, there is nothing to worry about as there are numerous competitors of Xero. Here are some of them.
Just like Xero, this accounting software is used for bookkeeping purposes in small businesses. However, it is not entirely similar in that it has the capabilities to cater to small businesses which intend to expand. It is also suitable for freelancers and sole business owners.
AccountEdge Pro supports the payment of invoices with ease through the web payment option. This application also makes it possible to handle your staff and customers centrally.
Subscription plans include the Basic plan which costs a one-time payment of $149 and a Pro plan costing a one-time payment of $399.
There are also two cloud plans (Priority ERP and Priority Zoom), the latter costs $50 per month.
Another top competitor of Xero is Zoho Books. With its possession of automation features, Zoho Books differs from Xero. Zoho Books is compatible with IOS devices, unlike Xero. Through iMessage, you can send statements of account and product estimates to your customers.
Zoho Books provides invoice templates and allows you to give them the best designs.
It has a free plan that can be used only by a user and an accountant. Other plans include the standard plan which cost $20. The professional plan is available for purchase at $50. The premium plan cost $70. These plans are capable of accommodating a maximum of 3, 5, and 10 users respectively.
This accounting software can function without being connected to the internet. If what you seek is software that does not require an internet connection then QuickBooks is a competitor of Xero that you might want to consider.
Furthermore, QuickBooks solves the problem of having to purchase another subscription plan when you have more than one business to manage. Printing of checks can also be done using this software rather than manually.
When it comes to managing your bookkeeping process, QuickBooks is less rigid compared to Xero. QuickBooks has four subscription plans. The Pro, Premier, Enterprise, and Accountant plan. Each costs $349.99, $549.99, $1,275, and $499 respectively. The first three plans are capable of accommodating a maximum of 3, 5, and 40 users respectively.
If you are looking for accounting software with great customer support, then FreshBooks is worth considering. It is rare for accounting software to offer customer support services, but FreshBooks provides that. You can find out any information you need by speaking with a representative on a free phone call.
This software is perfect for freelancers and its mobile app is easy to navigate. FreshBooks is superb in invoicing and tracking time, but it does not excel at inventory management like Xero.
It has four subscription plans. They are the Lite Plan, Plus Plan, Premium Plan, and Select Plan. The first three plans cost $15, $25, and $50 respectively. The Lite plan is capable of accommodating a maximum of 5 billable clients. The plus plan can accommodate further up to 50 billable clients while the Premium and Select Plans can accommodate an unlimited number of billable clients.
If you decide to replace Xero with any of its competitors, make sure you are not hasty to commit to another without properly verifying its compatibility with your business needs. You can take your time to find out by using their free trial programs.
Most importantly, ensure you check the customer reviews of each of Xero’s competitors. This will provide you with more insights and assist you greatly in selecting when the need arises.
Frequently Asked Questions
1) What Should I Consider Before Deciding On What Accounting Software To Use?
Choosing accounting software for your business requires thorough research, you must be certain that the software you decide to use can cater to the needs of your business. This implies that if your business operates in foreign currencies, then your choice of software should be capable of doing so.
2) Do Accounting Softwares Have Mobile Applications?
Users of accounting software can access their records on mobile applications without incurring an extra charge. On your mobile device, you will be able to view the desktop version of your accounting software. Tasks such as invoice generation and client management can also be carried out on mobile apps.