Top Free Quickbooks Alternatives for Small Businesses in India

Quickbooks has recently announced that is shutting down its India business. If you are a Quickbooks user, you might be worried about how to find a free QuickBooks alternative that works as well as or is possibly better than Quickbooks.

There are a variety of options available and it is very difficult to choose the one that fits your business requirements. In this article, I will try to help you make an informed decision about what are the possible options for your business and how to choose the best accounting software. We will try to focus on Quickbooks alternatives for small businesses, freelancers, and agencies.

Why did Quickbooks shut down its India operations?

Quickbooks has not given any specific reasons for its decision to shut down its India operations. Their official announcement says, “Offering a product that our customers can depend on for their business is our top priority. After careful consideration, the decision was made that we can no longer continue to deliver and support QuickBooks products, including our solutions for small businesses as well as invoicing software and accounting software, that serve the needs of small businesses and accounting professionals across India.”

What does it mean for the current users?

All subscriptions and services for QuickBooks Online, QuickBooks Online Accountant, the QuickBooks mobile app, and QuickBooks Time will be inaccessible after 30th April 2023. All the customers are advised to download their data and transition out of the product prior to 30 April 2023. 

Are you an accountant helping your clients find Quickbooks alternatives?

We have a rewarding Refrens Partner Program that is beneficial for both you and your clients. With our partner program, you can earn lifetime commissions while also helping your clients manage their businesses more efficiently than ever before. 

What are the Best Alternatives to Quickbooks in India?

Every business has different requirements. Some features that are important to your business operation, might not be necessary for other businesses and vice versa. To make this transition easier for you, I have listed some of the best alternatives for Quickbooks in India with their major features, pricing range, and suitability for your business.

1. Refrens – Best Quickbooks Alternatives for Small Businesses

Major Features:

• Create unlimited customized invoices, quotations, and all other accounting documents with a wide range of invoice templates to choose from.
• Get actionable insights via Reports to keep track of your income and expenses
• Share your accounting documents easily on Email, Whatsapp, and any other channels
• Track when your clients view your invoice
• Send invoice auto-reminders for unpaid invoice 
• Turn your quotations into invoices in a single click
• Receive payments internationally and domestically.
• Automatically capture leads from your website, social media, and other platforms
• Create multiple sales pipelines, segment leads in different stages
• Auto-reminders for leads so you never miss a follow-up
• Automatically update your inventory when you create invoice or an expense
• Attract more leads with the Refrens Network, keep in touch with your existing clients & vendors, and create meaningful new business relationships
• Showcasing your products & services, sharing proof of work, verified testimonials, and more

Pricing: ₹3000- ₹10000 per year
Best For: Freelancers, agencies, and small businesses

2. Zoho Books

Major Features:

• Automatically calculate GST and generate reports with advanced GST billing system.
• Follow-up payment using automatic alerts
• Track expenses and record bills
• Automatically fetch bank statements from the bank into your account
• Manage more than one project, add tasks, and assign them to employees
• Generate invoices based on on-task time or fix costs for any project
• Mobile application, client portal, and easy integration with other Zoho products
• The Professional plan includes stock tracking inventory features, sales orders with our advanced sales order software, and purchase orders using customizable purchase order templates.
• No per-user fees

Pricing:  ₹9000 – ₹96000 per year

Best For: Small to medium size businesses 

3. Freshbooks

Major Features:

• Invoicing management, expense management, time tracking, project management
• Send unlimited estimates and proposals with a Plus plan or higher
• Collect payments, track sales tax, generate reports
• Use log hours and automatically put them onto the invoice
• Automatically check and balance to ensure compliance and accuracy
• Get paid with credit cards and bank transfers
• Set up recurring invoices and manage client retainers with ease through comprehensive invoice and client management system.
• Mobile application

Pricing: ₹10000 – ₹39600 per year

Best For: Solopreneurs and small businesses

4. Xero

Major Features:

• Manage unlimited users
• Create quotes, invoices, and other accounting documents
• Real-time dashboards, financial reporting, and bank reconciliation
• Collect payments, manage payrolls & other expenses
• Manage fixed assets and stay updated on the value of your assets
• Integrate with 700+ applications
• Easily manage all your clients, vendors with their comprehensive vendor management software, and contractors in one place.
• .Manage and track inventory, and integrate inventory with a point of sale (POS) system. 

Pricing: ₹24000 – ₹53000 per year

Best For: Sole proprietors, freelancers, and small businesses. Xero is also a good fit for niche markets such as retail, IT, legal, and e-commerce businesses.

Xero is also among the best alternatives for FreshBooks. Click the link to learn more – Best FreshBooks Alternatives

5. Sage 50cloud

Major Features:

• Manage invoicing for multiple businesses 
• Track hours and expenses to assign to customer invoices, and automatically capture all the expenses
• Access customer details, transaction history, and account balances from M.S. outlook, and integrate with Office 365.
• Automated bank reconciliations, balance sheets, and audit trails
• Job management & job costing
• inventory management and cash flow management
• Additional features for HR, POS integrations, e-commerce, sales, and marketing 

Pricing: ₹28000 – ₹75000 per year

Best For: Small and medium-sized businesses

6. Tally Prime

Major Features:

• GST compliance, invoicing, accounting and inventory management.
• Handle all types of transactions, including payments, purchases, journals, and more.
• Generate trial balance, balance sheet, and other accounting reports.
• Mobile application

Pricing: ₹8500 – ₹64000 per year

Best For: Small and medium-sized businesses

I am a freelancer/agency/small business currently using Quickbooks.
Can Refrens fulfill all my business requirements?

Refrens was started with a mission to help freelancers, agencies, and entrepreneurs effectively manage their businesses with an all-in-one platform consisting of Lead management System, Accounting Suite, Inventory & Expense Management software, Profile Management, and a Networking System. 

We have already become a default operating system for 150K+ freelancers, agencies, and small businesses across 178 countries.

Here’s an overview of all the major features:

✅ Accounting & Payments

• Create unlimited invoices, quotations, and all other accounting documents
• Get actionable insights via Reports to keep track of your income and expenses
• Share your accounting documents easily on Email, Whatsapp, and any other channels.
• Track when your clients view your invoice
• Send auto-reminders for unpaid invoice 
• Turn your quotations into invoices in a single click
• Collect payments domestically and internationally

✅ Lead Management

• Automatically generate leads from your website, social media, and other platforms
• Create multiple sales pipelines and segment leads in different stages with our advanced sales CRM system. Assign the right leads to the right sales reps.
• Communicate with leads over WhatsApp and Email, Keep track in one place.
• Create & manage roles, and control access
• Auto-reminders so you never miss a follow-up and convert more leads
• Create and send quotations, using our customizable quotation templates, and send them over Email/WhatsApp while tracking them.

✅ Client Management

• Manage all your client relations. 
• Keep track of business transactions & payments, send emails, collect testimonials, and more.

✅ Inventory Management

• Automatically update your inventory when you create an invoice or an expense
• Easily manage and keep track of all your inventory

✅ Expense Management

• Keep track of all your expenses in one place
• Automatically update your inventory whenever you create an expense

✅ Networking & Profile Management

• A one-stop solution to create your business profile and manage it. 
• Attract more leads with the Refrens Network, keep in touch with your existing clients & vendors, and create meaningful new business relationships.
• Showcasing your products & services, sharing proof of work, verified testimonials, and more.

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