Looking for Affordable Alternatives to QuickBooks or Xero for Multiple LLCs
Hello everyone,
I’m on the hunt for a cost-effective Bookkeeping or Accounting application. I manage several LLCs, and the main downside of using QuickBooks and Xero is the need for individual subscriptions for each company, which quickly becomes quite pricey. I’m interested in finding suitable alternatives. Ideally, a cloud-based solution that integrates smoothly with payment platforms like PayPal, Stripe, or Square would be perfect. Any suggestions would be greatly appreciated!
Thanks for your help! 🙏
One response
When managing multiple LLCs, finding an efficient yet affordable Bookkeeping solution can be a challenge, especially when mainstream options like QuickBooks and Xero require separate subscriptions for each entity. Here’s a list of good alternatives that can help you effectively manage your financials without incurring exorbitant costs. These options are cloud-based, making them accessible from anywhere, and many integrate seamlessly with payment platforms like PayPal, Stripe, and Square.
1. Wave Accounting
Features:
– Free Core Accounting: Wave offers free Accounting tools that cover income and expense tracking, invoicing, and receipt scanning.
– Multi-Business Management: You can manage multiple businesses under a single account, making it easier and more cost-effective for handling several LLCs.
– Integrations: Supports PayPal, Stripe, and Square to facilitate easy payment processing.
Pros:
– It’s completely free for basic Accounting needs.
– Intuitive and user-friendly interface.
Cons:
– Paid features include payroll and premium support, which might be limited depending on your needs.
2. Zoho Books
Features:
– Affordable Pricing Plans: Offers plans that support multiple businesses at a more affordable rate compared to QuickBooks and Xero.
– Scalability: As your LLCs grow, Zoho Books can scale with you, offering more advanced features in higher tiers.
– Collaboration Tools: Allow multiple users to access and work with the data simultaneously.
Integrations:
– Supports payment processors like Stripe, PayPal, and Square.
Pros:
– Strong integration with other Zoho apps, which can be a plus if you’re using any other tools from the Zoho Suite.
– Customizable invoicing and reporting features.
Cons:
– Slight learning curve if you’re not already familiar with the Zoho ecosystem.
3. FreshBooks
Features:
– Multi-Business Support: Offers a simplified way to handle multiple businesses by allowing you to manage them under a single FreshBooks account.
– Comprehensive Invoicing: Detailed invoicing capabilities that include automation and customization.
– Time Tracking and Project Management: Useful for businesses providing billable hours.
Integrations:
– Compatible with PayPal, Stripe, and Square, making financial transactions seamless.
Pros:
– Excellent customer service and user-friendly interface.
– Strong features set for freelancers and small business owners.
Cons: