Top 10 Alternatives to Xero in 2025: A Comprehensive Comparison

As Xero continues to be a prevalent name in the accounting software industry, 2025 brings a plethora of compelling alternatives that cater to various business needs and budgets. Here are the top 10 alternatives to Xero for 2025, detailed for your convenience.

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1. QuickBooks Online

Description: A widely used cloud-based accounting software, suitable for small to medium-sized businesses. It offers a comprehensive set of features for managing finances.
Key Features:
Expense tracking and invoicing
Detailed financial reporting
Bank reconciliation
Inventory management
Payroll processing (additional cost)
Ease of Use: User-friendly interface with a traditional design.
Pricing: Starts at $25/month, but varies based on plan and features.
Scalability: Suitable for growing businesses, offering more advanced features as needed. Learn more about QuickBooks Online

2. FreshBooks

Description: Designed primarily for freelancers, small businesses, and service-based companies, focusing on simplicity and ease of use.
Key Features:
Simplified invoicing and billing
Expense tracking
Project management capabilities
Time tracking
Client management
Ease of Use: Known for its highly user-friendly interface, ideal for those with limited accounting experience.
Pricing: Affordable plans based on the number of billable clients.
Specific Use: Streamlined experience for service-based businesses and freelancers. Explore FreshBooks

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3. Zoho Books

Description: Part of the Zoho suite, this software is designed to manage finances, offering automation and customization features.
Key Features:
Automated workflows
Customizable invoicing
Multilingual support
Project management
Inventory management
Ease of Use: Intuitive with a slightly simpler interface than Xero.
Pricing: Competitive pricing, often seen as more affordable than Xero.
Integration: Strong integration with other Zoho products. Discover Zoho Books

4. NetSuite

Description: A highly customizable ERP solution designed for larger businesses with complex financial needs.
Key Features:
Comprehensive accounting module
Inventory management
CRM
eCommerce
Advanced financial consolidation
Ease of Use: Steeper learning curve due to its advanced capabilities.
Pricing: Custom, typically higher than Xero.
Scalability: Designed for significant growth with extensive customization options. Explore NetSuite

5. Wave Accounting

Description: Free accounting software geared towards freelancers and very small businesses.
Key Features:
Free invoicing
Free accounting tools
Expense tracking
Payment processing (transaction fees apply)
Basic reporting
Ease of Use: User-friendly interface, ideal for those new to accounting.
Pricing: Free, with transaction fees for payment processing.
Specific Use: Best for very small businesses and freelancers needing basic tools without cost. Learn more about Wave Accounting

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6. ZipBooks

Description: Accounting software that offers a free plan with unlimited invoicing, suitable for small businesses and nonprofits.
Key Features:
Free invoicing
Expense tracking
Financial reporting
Multi-bank account connections (paid plan)
Automated reminders (paid plan)
Ease of Use: Clean and modern interface with a visually appealing dashboard.
Pricing: Free plan available, with paid plans for advanced features.
Specific Use: Good for those needing a visual overview of company finances. Explore ZipBooks

7. Bonsai

Description: An integrated suite of products made specifically for freelancers.
Key Features:
Invoicing tool connected to proposals and contracts
Expense tracking including ability to import from bank
Automatic tax deduction finding
Profit and loss reporting
Quarterly estimated tax and annual filing reminders
Ease of Use: User-friendly interface, designed for freelancers.
Pricing: $25/month.
Specific Use: Designed specifically for freelancers. Learn more about Bonsai

8. Dynamics 365 Business Central

Description: More than accounting software, designed to streamline various operations for small and medium-sized businesses.
Key Features:
General ledger
Accounts receivable and payable
Bank reconciliation
Multi-currency transactions
Customizable options
Ease of Use: Designed for easy scalability as the business grows.
Pricing: Scalable based on the business needs.
Specific Use: Ideal for businesses needing a comprehensive accounting tool with real-time insights. Explore Dynamics 365 Business Central

9. Sage Intacct

Description: A cloud-based accounting system designed for complex businesses.
Key Features:
Real-time financial insights
Multi-entity financial management
Advanced reporting
Automation tools
Scalability
Ease of Use: Comprehensive but may require some training.
Pricing: Higher-end pricing, with various options.
Specific Use: Best for companies needing real-time analysis. Learn more about Sage Intacct

10. Banktrack

Description: A tool specializing in treasury management, focusing on cash flow control, liquidity, and financial risk management.
Key Features:
Cash flow planning
Liquidity control
Cash movement forecasting
Financial risk management
Real-time bank balance and cash flow tracking
Ease of Use: Designed for specific treasury functions, may not be as user-friendly for general accounting.
Pricing: Varies.
Specific Use: Suitable for businesses that need precise control over their cash flow. Explore Banktrack

Disclaimer: Prices and features can change, so it's always a good idea to visit the official websites for the most up-to-date information and to request a demo if possible.

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FAQ

1. What are some good alternatives to Xero for small to medium-sized businesses?

QuickBooks Online, Zoho Books, and Dynamics 365 Business Central are excellent alternatives. Explore QuickBooks Online | Learn more about Zoho Books | Discover Dynamics 365 Business Central

2. Which accounting software is best for freelancers?

FreshBooks and Bonsai are tailored for freelancers due to their ease of use and specific features for managing client work. Discover FreshBooks | Learn more about Bonsai

3. Is there a free alternative to Xero?

Wave Accounting and ZipBooks offer free versions of their accounting software. Explore Wave Accounting | Check out ZipBooks

4. What is the best option for complex businesses needing advanced features?

NetSuite and Sage Intacct are designed for businesses with more complex needs, offering extensive customization and advanced financial management. Learn about NetSuite | Explore Sage Intacct

5. Which software provides strong integration with other tools?

Zoho Books stands out for its strong integration with other Zoho products, enhancing its utility across different business functions. Learn more about Zoho Books

6. What is a good alternative for managing inventory along with accounting?

QuickBooks Online and Zoho Books offer robust inventory management features alongside their accounting capabilities. Explore QuickBooks Online | Discover Zoho Books

7. Which software is best for real-time financial insights?

Sage Intacct and Dynamics 365 Business Central provide advanced real-time financial insights, crucial for decision-making in larger businesses. Learn more about Sage Intacct | Discover Dynamics 365 Business Central

8. What is the most user-friendly accounting software for beginners?

FreshBooks and Wave Accounting are known for their user-friendly interfaces, making them ideal for those with limited accounting experience. Discover FreshBooks | Explore Wave Accounting

9. Which alternative is good for project-based businesses?

FreshBooks and Bonsai are particularly useful for project-based businesses due to their project management capabilities. Learn more about FreshBooks | Discover Bonsai

10. What software specializes in treasury management?

Banktrack specializes in treasury management, offering features focused on cash flow control and financial risk management. Learn more about Banktrack

References

About the Author

Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.

Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).

She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond and launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks.

For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.

About the Publication

Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.

Mission and Purpose

Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.

Key Features

The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:

Skill Lab: Micro-modules covering essential startup skills
Virtual Startup Building: Create or join startups and tackle real-world challenges
AI Co-founder (PlayPal): Guides users through the startup process
SANDBOX: A testing environment for idea validation before launch
Wellness Integration: Virtual activities to balance work and self-care
Marketplace: Buy or sell expert sessions and tutorials

Impact and Growth

Since its inception, Fe/male Switch has shown impressive growth:

3,000+ female entrepreneurs in the community
100+ startup tools built
5,000+ pieces of articles and news written

Partnerships

Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.

Recognition

Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.