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QuickBooks and Beyond: Exploring Accounting Options for Your SMB

A practical guide comparing current accounting solutions.

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  1. Feature: QuickBooks and Beyond: Exploring Accounting Options for Your SMB (4 min read)

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As a new LLC or small-to-medium business (SMB) owner, you’re probably wearing every hat at once—salesperson, operations manager, occasional IT trouble-shooter, and, yes, bookkeeper. Tracking income, expenses, taxes, and cash flow is essential for growth and compliance, but it doesn’t have to feel like a second full-time job.

Most entrepreneurs default to QuickBooks—and with good reason. It’s feature-rich, well-known, and supported by most every CPA under the sun. But it’s hardly the only game in town. Thanks to cloud tools, open-source software, and outsourced services, there’s a growing menu of choices to fit every budget, scale, and technical skill level.

Our goal here: help you make an informed choice—without spending days researching. We’ll walk you through options from simple to advanced, highlight who they suit best, and give you links to explore further.

1. Basic and Low-Cost Software

Ideal for solopreneurs or LLCs with less than $50,000 annual revenue, these tools focus on essentials—think invoicing, expense tracking, and basic reports. They’re cloud-based, mobile-friendly, and easy to set up.

Akaunting

  • Pricing: Free for the self-hosted version. Paid cloud version starts around $5–10/month for automation and support.

  • Pros: Truly free; unlimited users and invoices; privacy-friendly (open-source).

  • Cons: Limited integrations; self-hosting requires some tech comfort.

  • Best for: Freelancers and tech-savvy owners avoiding subscriptions.

Wave

  • Pricing: Core accounting and invoicing are free. Paid features—like bank connections or payroll—start around $16/month.

  • Pros: Simple, double-entry accounting; good for tax prep; mobile apps for iOS and Android.

  • Cons: Free plan has limited support; some Pro features add costs.

  • Best for: Micro-businesses watching cash flow trends.

ZipBooks

  • Pricing: Free tier includes invoicing, auto-categorization, and time tracking; upgrades remain affordable but vary by features.

  • Pros: Easy for non-accountants; integrates with banks; clean reports.

  • Cons: Fewer advanced analytics; some features require paid add-ons.

  • Best for: Service-based LLCs needing time and project tracking.

Zoho Books

  • Pricing: Free for businesses under $50,000 annual revenue; paid tiers start at $15/month and scale to ~$240/month for advanced features.

  • Pros: Scales from free to full-featured; strong automation; multi-currency and US tax tools (1099s).

  • Cons: Higher tiers can add up; taxes excluded from pricing.

  • Best for: Growing LLCs with inventory or international transactions.

2. Mid-Range Accounting Software

If you’re hiring, managing multiple clients, or need deeper analytics, mid-range tools add automation, integrations, and more robust reporting—without enterprise price tags.

FreshBooks

  • Pricing: Promotional discounts often drop starter tiers to ~$15/month; standard pricing ranges $19–$60/month.

  • Pros: Excellent invoicing and time tracking; integrates with 100+ apps; highly rated support.

  • Cons: Limited inventory features; pricing rises post-promo.

  • Best for: Service-based SMBs billing hourly.

Xero

  • Pricing: $20–$80/month after promos; intro discounts frequently apply.

  • Pros: Automated bank reconciliation; 24/7 support; clean interface.

  • Cons: Payroll often requires add-ons; prices jump after intro period.

  • Best for: Retail or construction LLCs; praised for global usability.

QuickBooks Online

  • Pricing: Regular plans run ~$30–$115/month; Advanced ~$275/month. First three months often discounted heavily.

  • Pros: Feature-rich; integrates payroll and taxes; some CPA support.

  • Cons: Can overwhelm beginners; tax filing fees vary.

  • Best for: Reliable choice for diverse SMBs, though Xero and FreshBooks offer comparable power at competitive prices.

Sage 50

  • Pricing: $625–$1,800/year.

  • Pros: Strong for inventory and job costing; trusted by multi-user teams.

  • Cons: Higher upfront cost; desktop-heavy setup.

  • Best for: Product-based LLCs needing detailed tracking.

3. Advanced and Enterprise-Level Solutions

For SMBs transitioning into mid-market or multi-location operations.

  • Oracle NetSuite – netsuite.com: Full ERP suite with CRM and ecommerce; pricing is custom, usually several thousand dollars/year.

  • SAP Business One – sap.com: Affordable by enterprise standards; handles financials, inventory, CRM.

  • Microsoft Dynamics 365 Business Central – microsoft.com: ~$70–$100/user/month; good for Microsoft ecosystem users.

4. Outsourced Accounting & Bookkeeping

If software alone isn’t enough—or you simply prefer peace of mind—outsourcing can be a game changer.

Start with Your CPA

Before signing with Bench, Pilot, or any other specialized firm, ask your current CPA whether they offer bookkeeping services. Many CPAs now maintain in-house accounting teams or partner with trusted bookkeepers.

Why choose your CPA first—even if it costs a little more?

  • Seamless tax prep: The same team handling your monthly books will already know your financials at tax time, meaning fewer errors, fewer questions, and faster returns.

  • 1099s and K-1’s made easy: Because they’ve managed your books all year, they can quickly issue 1099s and K-1’s correctly.

  • Audit-ready records: A CPA-managed system reduces year-end scramble and can lower the risk (and cost) of audits or amended returns.

  • Discounted software: Some CPAs negotiate bulk discounts on QuickBooks, Xero, or similar, which may offset part of their fee.

Pro tip: Consider a hybrid deal with your CPA—you do all of the basic accounting, but they set up your original chart of accounts (so that it closely matches your business activities, accounting method, and tax return) and then have their expert accounting staff access your accounting software each quarter or every six months and fix issues they find or problems that you need help with.

If Your CPA Can’t Help

Consider these outsourced providers:

  • Bench – bench.co: Monthly statements, tax packages, year-end prep.

  • Pilot – pilot.com: Startup-focused; adds CFO services and R&D credits.

  • Paro – paro.io: AI-matched elite bookkeepers; on-demand.

  • Bookkeeper360 – bookkeeper360.com: Dedicated teams with dashboards and tax/CFO support.

Pricing runs ~$200–$1,000/month, depending on complexity. For many SMBs, outsourcing isn’t just a time-saver; it’s a stress reducer.

  • AI-assisted bookkeeping: Botkeeper and QuickBooks Advanced’s AI agents.

  • Hybrid CPA + software bundles: QuickBooks + Gusto for payroll compliance.

  • Crypto-friendly tools: CoinTracker or Bitwave for LLCs accepting digital payments.

Choosing the Right Option

  1. Start basic if cash is tight; scale as complexity grows.

  2. Always test free trials before committing.

  3. Consult your CPA—they can help you choose and save you from costly missteps.

  4. Remember: no software replaces professional advice.

Note: The Co. Letter receives no compensation or referral fees from the companies listed. We believe the pricing listed is current as of July 2025 but subject to change. Always verify and search for the best deals before purchasing.

Have an interesting business question and need a free bit of advice? Send your question to [email protected]. No confidential info, please!