What are some effective alternatives to QuickBooks or Xero for managing multiple LLCs?

When managing multiple LLCs, it’s important to use Accounting Software that can handle diverse financial tasks efficiently. While QuickBooks and Xero are popular choices, there are several other alternatives that might suit your needs:
FreshBooks: Known for its user-friendly interface, FreshBooks is ideal for managing multiple businesses. It offers features such as invoicing, expense tracking, and time tracking, while supporting multiple currencies—a useful capability if your LLCs operate internationally.
Zoho Books: Part of the Zoho suite, this software excels in providing a range of features like inventory management, banking, and payroll. Zoho Books is particularly beneficial for businesses already utilizing other Zoho products.
Wave Accounting: Although more suited for small businesses, Wave provides free financial software that’s quite robust, including invoicing, Accounting, and receipt scanning. It offers separate dashboards for multiple businesses, which is advantageous for managing several LLCs.
Sage Business Cloud Accounting: This software is designed to cater to small and medium enterprises, providing comprehensive accounting features, including compliance management and real-time reporting. It’s scalable, making it suitable for handling the growth of multiple LLCs.
NetSuite: For more robust corporate needs, NetSuite offers a cloud-based ERP system that is customizable and scalable. Its strong financial management capabilities make it ideal for managing complex financial structures spread across multiple LLCs.
Kashoo: Designed for simplicity and ease of use, Kashoo offers all necessary features for tracking expenses, sending invoices, and generating reports, supporting multiple businesses under a single account.
Wave Financial: Particularly attractive for its no-cost features like accounting, invoice management, and receipt scanning. If additional businesses need premium features later, their scalability makes it an excellent starting point.

When choosing an alternative, consider the specific needs of your LLCs, such as the level of complexity in financial transactions, budget constraints, and whether integration with other business tools is necessary.