Why is Accounting Software so pricey?
Having spent several years in public Accounting and then in the industry, I’m now stepping in to help my dad with his Accounting needs. However, as I research pricing for Accounting Software, I’m surprised at how high the costs are: $35/month for QuickBooks Online, $60/month for Sage 50, $100/month for Yardi, and $50/month for Buildium.
Considering it’s just a straightforward property management company without any inventory and on a cash basis, I feel like I could replicate 95% of what these programs offer using Excel. Honestly, I’m tempted to pirate QuickBooks Desktop!
Can anyone recommend more affordable software options that include essential features like depreciation tracking, automatic closing, and bank feeds?
One response
It sounds like you’re at a crossroads trying to balance cost with the functionality you need. Accounting Software can indeed feel expensive, especially for smaller operations. A lot of the pricing reflects not just the software itself, but also customer support, regular updates, and the reliability that comes with established brands.
If you’re looking for cheaper alternatives that still offer essential features, here are a few options you could consider:
Wave Accounting: This is a free Accounting Software that offers invoicing and expense tracking. However, it might lack some advanced features like automatic closing and detailed reporting.
Zoho Books: Starting at around $15/month, Zoho Books offers a comprehensive set of features including bank feeds, inventory tracking, and automated workflows.
FreshBooks: Great for small businesses looking for easy invoicing and expense management, FreshBooks starts at $15/month. It may not have all the features of larger software, but it covers many basics.
GnuCash: This is a free, open-source Accounting Software that may require a steeper learning curve, but it offers robust features like depreciation, double-entry accounting, and reporting.
SimpleBooks: Designed specifically for small businesses, SimpleBooks offers quick and easy management at a lower price point.
Kashoo: This software is straightforward to use and offers pricing around $16.65/month. It includes bank feeds and basic reporting features.
While Excel can definitely handle a lot of accounting needs, the risk with managing your dad’s business is that you’ll want to ensure accuracy and efficiency, and accounting software can help streamline processes and reduce the chances of errors. Pirating software carries legal risks and is not advisable, especially since there are legitimate, cost-effective options that can meet your needs. Good luck with your decision!