When it comes to managing finances, many startup founders turn to Xero due to its comprehensive accounting features. But, as their businesses grow, they often realize that while Xero may be a great option for accounting, it doesn’t meet all their financial needs, especially in terms of financial forecasting and modeling.
That’s where other financial solutions step in. In this article, we’ll explore some of the best Xero alternatives, but also some complementary tools that work alongside it, providing you with deeper insights and helping you gain full control over your finances.
Although not a direct alternative to Xero, Fuelfinance integrates with it and can be used as an extension. You can automatically sync data from Xero or other accounting tools (including direct Xero alternatives like QuickBooks) to avoid manual entry and get real-time insights. It’s a great option for small businesses and startups that need that extra something to get their finances in place and start making real money.
Fuelfinance is one of the best financial analysis software with specific features for managing small business and startup finances. Its intuitive interface and comprehensive dashboards make navigating simple and accessible even to those with limited financial experience.
It specializes in financial forecasting for startups and SMBs, financial analysis, unit economics and scenario planning. This lets you prepare better for the future, helping you overcome any obstacles that come your way.
If you have any accounting or financial questions, you can always reach out to our team of financial experts, who are ready to provide unlimited support and act as your outsourced CFO, saving you a lot of money you'd otherwise spend hiring consultants.
Interested in these features? Schedule a demo call!
Fuelfinance integrates with popular accounting tools like Xero and QuickBooks so you can automate data retrieval and avoid time-consuming manual entry. It also integrates with many payment platforms, such as Stripe, HubSpot, Salesforce and Gusto, plus over 350 other solutions you may be using.
See also: Best HubSpot integrations for finance
Users commented on Fuelfinance's user-friendly interface, making our tool accessible to everyone. They also liked automation capabilities that saved them a lot of time and unlimited support from our financial experts, who helped them solve financial issues and increase profitability.
Capterra: 5
G2: 4.9
One of the better-known Xero alternatives is QuickBooks, an easy-to-use accounting tool for businesses of all sizes. It helps create invoices, track income and expenses and generate reports. By linking your bank account, you can automatically see all transactions in QuickBooks.
In the Xero vs. QuickBooks debate, QuickBooks might be a better option for small businesses. It has a user-friendly dashboard and reporting and payroll features. Xero, on the other hand, has better inventory management and app integrations, making it fit more complex needs and e-commerce businesses. Both tools offer bank feeds, but QuickBooks updates transactions faster.
If you want to see how it compares to other accounting software, check out this article on the best QuickBooks alternatives.
QuickBooks integrates with over 750 apps, including Amazon, PayPal, Shopify and Etsy, automating data entry and syncing sales, orders and payouts. You can also connect it with Fuelfinance to get real time insights into your financial performance and monitor all your KPIs in one place. Click here to explore QuickBooks integrations in more depth.
According to user reviews, QuickBooks is easy to use and has seamless integration capabilities. Users also mention its responsiveness, smart accounting tools and the ability to send invoices and receive payments quickly.
Capterra: 4.3
G2: 4
NetSuite is a cloud-based accounting software from the Oracle family that has real-time tracking capabilities and customizable reports.
While NetSuite offers more advanced features (including multi-language support) for larger businesses and enterprises with global operations, Xero is a simpler and more affordable solution.
NetSuite has integrations to improve all primary business operations, including financial planning software tools like Cube, CRM tools like Salesforce, e-commerce platforms like Shopify, POS systems like Square and HR tools like ADP. These connectors streamline processes like inventory management, customer support, payroll and payment processing.
See also: Best Salesforce integrations for finance
Users appreciate NetSuite for its convenience and user-friendly dashboard, offering quick access to desired information.
Capterra: 4.2
G2: 4
Next on our list of Xero alternatives — Zoho Books — is an easy-to-use accounting software for small businesses. It allows them to track income and expenses and manage receivables, payables and customers in one place. The platform also automates tasks like recurring billing and accepts online payments. It is natively integrated with all apps in the Zoho ecosystem.
If you're a small business owner, it's worth noting that this tool is more user-friendly than Xero, which is more oriented towards larger businesses and has more complex features.
Zoho Books integrates with popular payment gateways like Stripe, PayPal and Braintree, allowing you to automate online invoice payments. You can also automate tax calculations through the integration with AvaTax. As mentioned, it also connects with Zoho CRM and all other Zoho apps.
According to users, Zoho Books is a good solution for small businesses, especially those already using other Zoho apps. They enjoy its customization options, ease of use and flexibility.
Capterra: 4.4
G2: 4.4
Sage Intacct is one of the more comprehensive Xero alternatives; a financial platform that includes tools for accounting, payroll, tax filings and inventory tracking. It has fairly detailed and easy-to-understand reports.
Compared to Xero, Sage Intacct offers a stronger scalability infrastructure and more capable API, making it a better option for growing businesses and startups.
Sage Intacct integrates with tools like Salesforce, AvidXchange and Shopify. These integrations streamline CRM, accounts payable, e-commerce and payroll processes, improving efficiency and decision-making across various business operations.
Users like Sage Intacct for its constant improvements and responsive support. They also enjoy its comprehensive yet easy-to-use dashboards.
Capterra: 4.3
G2: 4.3
Wave is a small business software that consolidates essential financial tools like transaction tracking, reporting and cash flow management into one place.
Compared to Xero (and some other Xero alternatives we mentioned), Wave is a more cost-effective option for small businesses. That being said, Xero has more advanced features, making it a better choice for large companies with more complex needs.
Wave integrates with payment gateways like Stripe, PayPal and Square for easy online transactions and syncs with bank accounts to import transactions automatically. It also connects with QuickBooks for data export, offers payroll services in some regions and integrates with Zapier to link with other apps for workflow automation.
Users appreciate that Wave Starter offers many free features. However, its free plan is most suitable for freelancers and individuals as it lacks some essential features from Wave Pro. It also has an easy-to-use interface, making it suitable for beginners.
Capterra: 4.4
G2: 4.3
The last option in our Xero alternatives list is FreshBooks, a simple invoicing and billing tool for small businesses and freelancers. It makes it easy to create invoices and receive payments faster.
Unlike Xero, which is more comprehensive and has more advanced features, FreshBooks focuses mainly on invoicing, billing and getting paid. Xero might be a better choice for businesses looking for extensive accounting solutions, while FreshBooks is ideal for small companies and consultants that need simple invoicing tools.
FreshBooks integrates with tools like PayPal, Stripe, Square, Gusto, Zoho CRM, Shopify and Google Workspace, streamlining payments, time tracking, payroll, sales and accounting.
Customers praise FreshBooks for its simplicity and ease of use, particularly for tracking expenses and managing receipts. However, they mentioned that to manage their finances properly, they need to combine it with other financial management tools.
Capterra: 4.5
G2: 4.5
Financial planning and accounting can feel overwhelming, especially if you don't have a lot of experience.
Fuelfinance, with its many helpful integrations, comes to the rescue by offering a user-friendly platform for small businesses and startups to handle financial management with ease.
While Fuelfinance is not a direct alternative to Xero, it seamlessly integrates with it, enhancing its features and providing a powerful extension for your financial operations.
With our platform, you can extend your accounting into full-on financial management with specialized features for effortless scenario planning and visual dashboards. Plus, our financial experts are always ready to help you with any obstacle that comes your way.
Book a demo call today and ensure you have the right financial tools to succeed.
It depends on what you're looking for. If you need simple accounting software, QuickBooks might be better than Xero. On the other hand, if you want a comprehensive solution to manage your business finances, Fuelfinance is a better option (you can also easily integrate it with Xero).
According to user reviews, the top Xero competitors in terms of accounting alone are QuickBooks, NetSuite and FreshBooks.
If you're not an accounting professional, Xero may not be the right accounting software for you because it has a steep learning curve. Also, you may find some of its features unnecessarily complex for beginners and SMBs.
Some users say QuickBooks is more user-friendly. Its interface is more intuitive, and the learning curve is flatter. Reviews also mention that QuickBooks provides more effective customer support.
