Quickbooks is a well-known software for accounting. Other software adheres to the needs of a particular business perfectly or is simply better. In this article, we will explore the Quickbooks alternatives in Australia and comment on their relevance to your business.
About Quickbooks
Quickbooks is not restricted to a particular range of business models or industries. It is utilized by every kind of company imaginable. They’ve done well by releasing several versions of their software to the demands of the industry.
The primary market for Quickbooks desktops is business and professional services. Professional service companies and independent freelancers are increasingly using Quickbooks online.
Contractors, manufacturers and distributors, lawyers, and even retail and restaurant enterprises are among the target markets for Quickbooks Enterprise. This means that QuickBooks appears to be effective and useful in nearly every industry.
Why Do We Need Accounting Software for Businesses In Australia?
Accounting software can transform how your company works, making things more efficient and helping it reach its full potential. Let’s look at why it’s so great.
First, it’s a money-saver. You don’t need a big team of accountants when you have accounting software. It handles financial tasks well, saving you money and building trust in its abilities.
For smaller businesses, it’s like a trusty partner. It frees up resources that can be used to grow your business.
One of the best things about it is its ability to analyze data. It doesn’t just report plain numbers; it gives you detailed reports about different parts of your business. From handling employee pay to keeping track of inventory and unpaid bills, it’s like having a financial expert on hand.
In a world where businesses often deal with other countries, accounting software is a must. It helps you keep careful records and follow all the rules.
Dealing with taxes can be tricky, but accounting software makes it easier. It takes care of tax-related tasks, making sure everything is accurate and up-to-date with the latest tax rules.
Plus, it’s like a strong bodyguard for your financial data. It keeps your financial information safe from prying eyes and potential breaches, giving you peace of mind.
So, in simple terms, accounting software is more than just a tool; it’s like a supercharger for your business. It makes finances smoother, helps your business grow, gives you valuable insights, and keeps your financial data super safe. Embrace it, and you’ll be well on your way to a successful and stress-free business journey.
Why Do We Need Quickbooks Alternatives In Australia?
What are the issues with Quickbooks? The downsides? What alternatives do we have? We’ll first list down the negatives for Quickbooks and then look at the Quickbooks alternatives in Australia.
Costly
QuickBooks offers three plans, ‘Simple Start’, ‘Essentials’, and the ‘Plus’ plan valued at $12.50/month, $20/month, and $27.50/month respectively. These are not extremely high numbers but still on the higher spectrum.
Inadequate Training offered
Quickbooks does not provide enough training for its software especially compared to its alternative Xero. It is a large software with lots of options to navigate through. For newbies to accounting, it will be difficult to manage the finances entirely on their own through Quickbooks. Its alternatives should be explored.
Depleting Customer Service
Quickbooks answers queries and complaints only through mail which gets you a response in a day. That is a bit delayed compared to the standard practice in the industry. Many other software, for the sake of efficiency and gratitude to the clients, answer queries and complaints over phone calls, effectively providing immediate responses.
Bugs
Quickbooks has been reported to have bugs time and again. The software also lags sometimes. Probably due to inefficient cloud services. This is a grave concern as it may cause delays in important transactions leading to unsatisfied clients for a business.
Quickbooks Alternatives In Australia
Let’s look at the choices that we have got for replacing Myob. We’ll look at their features and pricing, giving a general idea of what it will be like to use them.
1.ProfitBooks
Profitbooks: Quickbooks Alternatives In Australia
ProfitBooks creates a pretty welcoming environment for businesses to thrive. What’s good about them is they’ve made it super user-friendly, so you don’t even need to hire an accountant. I mean, even if you’re clueless about accounting, you can handle it with ease.
Invoicing is good. They offer 25 invoices per month even on the FREE lifetime plan. The invoices are very professional yet simplistic to understand.
They’re not big on direct integrations with other platforms, but they’ve got a workaround using Excel to move data around if you ever need it. Profitbooks also has fantastic inventory management providing support for a well-maintained record of items. The inventory could also be secured by controlling its access.
One more thing that sets ProfitBooks apart is its simplicity. They don’t overwhelm you with super complicated reports. Instead, they keep it focused on what matters. It helps you concentrate on the essentials, which later leads to a more solid and non-negotiable analysis of crucial points, resulting in steady but significant growth.
They’re one of the very few accounting software providers worldwide that offer a lifetime FREE plan. It’s not some stripped-down version either; it’s quite valuable, especially for startups and small businesses. I’ve found it to be quite handy myself. It is probably the best Quickbooks alternative in Australia.
PRICING:
They offer two plans; the full-time free plan labeled the ‘Startup’ plan and another plan called the ‘SMB’ plan worth $15/month. This is quite cheap compared to the counterparts with little to no compromise on services offered.
2. Xero
Xero: Quickbooks Alternatives In Australia
Xero has very good functionalities and it is confirmed by every decent source that I researched. It has a huge set of reports and analyses. Xero mingles well with other APIs and software. Large and medium-sized businesses could look forward to Xero as their accounting software.
Xero proves to be an upgrade on Quickbooks as an alternative but is still very pricey. Other Quickbooks alternatives mentioned in the article are not very expensive and offer enough services. Xero also seems to be an accountant’s software provided its complexity. It may lead to the necessity of an accountant.
Despite this Xero is recommended as a Quickbooks alternative if you think your business needs a very robust and complexly functional software.
PRICING:
Xero currently offers four plans in Australia. The starter plan at $29/month, the standard plan at $59/month, the premium 5 plan is $76/month, and the Ultimate 10 plan is $110/month.
3. Rounded
Rounded: Quickbooks Alternatives In Australia
Rounded knows how to put AI to good use in their software. They’ve made it super smart, so it not only looks good but also tailors itself to each user for a personalized experience. It’s like they’ve laid out the red carpet for easy navigation.
One cool thing about Rounded is their multicurrency support. If your business deals with folks across borders, it’s got your back. Plus, they’ve got a pretty solid mobile app.
But what sets Rounded apart is their in-app chat and communication support. It’s like having a built-in chatroom for your business transactions and reports. This not only keeps things running smoothly but also adds a layer of accountability and transparency for future reference. That’s pretty helpful.
Now, here’s the flip side. Rounded isn’t exactly a tax whiz, and they don’t offer GST services in one of their two plans. Also, if you want to keep tabs on your bank account through the software, you might be out of luck with that plan because it can’t be connected. So, it’s not perfect, but it’s got some cool features to consider it a good enough alternative to Quickbboks.
PRICING:
Two plans. $19.95/ month for the ‘Starter’ plan and $24.95/month for the ‘PRO’ plan. The plans differ in GST valuation, Bank account connection, and unlimited availability of templates.
4. MYOB
MYOB: Quickbooks Alternatives In Australia
In the world of accounting software, MYOB is a formidable competitor, particularly when it comes to handling taxes. They’ve created a separate payroll system that adds a level of security to this crucial task, which is a clever way to handle payroll. However, keep in mind that, except for their two most expensive plans, they might charge extra if you add a lot of employees.
Additionally, MYOB provides helpful services like banking options and tools that make doing business internationally simple. Even if things become a little complicated, MYOB can manage multiple businesses or branches effectively.
In other words, MYOB is good at payroll and taxes, but be wary of extra fees. It proves to be a capable alternative to Quickbooks.
PRICING:
MYOB offers four plans all of which are paid. The ‘Lite’ plan at $15/month, the ‘Pro’ plan at $27.50/month, the ‘AccountRight Plus plan at $68/month, and the ‘AccountRight Premier plan is valued at $85/month.
How To Choose The Best Suitable Software For Your Accounting Needs?
Choosing the right accounting software for your company is a big decision. First things first, you’ve got to pick between desktop-based or cloud-based software. Cloud-based software is quite popular because it can sync your data, back it up automatically, and you can access it from anywhere with an internet connection. But if you’re in a place with shaky internet or need to do stuff in person super quickly, the offline option might be better.
Now, let’s talk security. Your data’s safety is a big deal. Make sure the software uses something called HTTPS for secure data transfer. And if they’re partnering with reliable cloud hosting companies like Amazon or Rackspace, that’s a good sign.
Next, figure out what you need the software to do. Do you need it for things like making invoices, tracking expenses, managing your inventory, or reconciling your bank statements? That’s important to know.
Think about the future, too. You want software that can grow with your business.
Also, make sure you can easily take your data with you if you ever decide to switch software. Watch out for any hidden fees, like extra charges for transactions or integration. And be clear on what the free trial version lets you do.
Don’t forget about support! It’s super important. Check if they have different ways to get help, respond quickly, have good knowledge, offer resources, and update the software.
Do not hesitate to change the software you are using if you find that it is not enough for your business. Look for alternatives like we did with this article accessing Quicbooks alternatives in Australia.
In the end, when you’re picking your accounting software, just remember these things and match them up with what your company needs and wants. One option to consider is ProfitBooks. It’s great for small and medium-sized businesses, with user-friendly features, room to grow, a reasonable price, excellent support, and clear expenses.
Conclusion
There are many options to think about, ranging from the user-friendly and cost-effective ProfitBooks to the powerful features of Xero and the AI-driven convenience of Rounded. Not to be overlooked is MYOB, a strong rival with a focus on payroll and taxes.
Selecting the best accounting software is a crucial choice that affects your ability to grow and manage your finances. Think about elements like support, scalability, security, and features. Keep in mind that the decision you make today should take your future needs into account.
So, finding the right accounting software is like having an ally you can count on in your financial journey, whether you’re a small start-up, a growing company, or an established enterprise. It can make all the difference. Australia has a complex tax system, hence QuickBooks and its alternatives become a necessity.
In the end, when you’re picking your accounting software, just remember these things and match them up with what your company needs and wants. One option to consider is ProfitBooks. It’s great for small and medium-sized businesses, with user-friendly features, room to grow, a reasonable price, excellent support, and clear expenses.
