5 Best Xero Alternatives for 2026
If you are just starting your business or you are a freelancer handling your own finances, accounting software should be one of the first tools to set up.
Modern accounting software frees up a lot of time you would usually spend on invoicing, reporting, or payment processing tasks
Xero is one solution you can consider. But there are a lot more, and if you are looking for Xero alternatives, we have compiled a list of the most popular ones.
Have a quick look at features and pricing, and read along to learn more about each alternative.
| Software | Best for | Features | Pricing |
|---|---|---|---|
| Wafeq | Businesses of all sizes and industries |
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| Zoho Books | Small businesses, freelancers, and solopreneurs |
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| TallyPrime | Small and medium-sized business owners, accountants |
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- Wafeq
Best for: Businesses of all sizes and industries
Wafeq is a comprehensive accounting and e-invoicing software that automates various financial operations by sending personalized invoices, quotes, and purchase orders as well as managing inventory and generating 40+ financial reports.
Invoices created by Wafeq are highly customizable to align with each business’s specific financial needs and operations. The custom templates can also be saved, refined, and used for different workflows.
By creating a single Wafeq account, users can also manage multiple organizations or add multiple branches to avoid any complexities in performance tracking. You can also add your team members or departments with controlled access features.
New to the platform?
Sign up for Wafeq’s free webinar for easy onboarding.
Wafeq’s key features:
- UAE E-Invoicing Ready
Prepare your business for UAE e-invoicing with built-in support for upcoming requirements.
- Purchases and Claims
Manage bills, purchase orders, and expenses through the Wafeq account
- Payroll and Employees
Run payroll and invite employees to submit their expense claims
- VAT return
Automatically generate your VAT return
- Inventory Tracking
Easily keep track of stock levels and automatically book your Cost of Goods
- Customer and Suppliers
Know who you owe money to and who owes you money
- Reports and Insights
Generate single or consolidated reports for a holistic view of your finances
Pricing (Monthly)
- Starter: $32/ month
- Plus: $39/ month
- Premium: $67/ month
- Enterprise: Custom pricing
- Zoho Books
Best for: Small businesses, freelancers and solopreneurs
Zoho Books is a cloud accounting platform that is especially perfect for small businesses to manage their accounting operations, invoicing, and track inventory and expenses.
The platform is designed to serve as a collaboration platform where you can add your team members, grant roles and permissions, and streamline financial workflow.
And to run your business finances faster, Zoho Books also offers AI-powered business accounting capabilities. Ask questions, spot issues, and automate tasks, all with the help of an AI assistant.
Zoho Books is also accessible via an app to manage your accounting, payables, receivables, invoices, and a lot more on the go.
Zoho Book’s key features include:
- AI-powered accounting
- Payment management
- Bank reconciliation
- Inventory and project tracking
- Tax compliance and reporting
- Team collaboration
- Global accessibility and security
Pricing (Monthly)
Zoho Books offers two pricing packages, where one includes basic features and the other includes more advanced ones.
- The first package (Standard) starts at $12 price/org/month. With this plan you can efficiently organize your transactions, accounts, reports, and books.
- The second package (Professional) starts at $24 price/org.month. With this one you can confidently take on projects, track your inventory, and handle purchases.
You can also start with a free plan to test the software before subscribing to pricing plans with more advanced features.
- TallyPrime
Best for: Small and medium business owners, accountants
TallyPrime is an all-in-one software, built to streamline business management processes, from accounting and compliance to inventory management and banking.
TallyPrime’s software is designed to significantly reduce manual effort. It allows users to multitask without losing progress, automatically manages bills receivables and payables upon saving an invoice, and supports pre-set billing templates to minimize repetitive data entry.
It also makes it easy to record and track post-dated transactions through a dedicated register, and handles special transactions such as buy-one-get-one deals and free samples.
TallyPrime’s key features:
- Invoicing and Accounting
- Inventory Management
- Business reports
- Banking
- Payroll management
- Credit and cashflow management
Pricing
- TallyPrime Silver: $630, suitable for businesses that need TallyPrime on a single PC
- TallyPrime Gold: $1890, perfect for businesses needing multi-user access on multiple PCs
- Wave
Best for: Small businesses, solopreneurs, contractors
Wave is accounting software made for small businesses. It helps manage invoicing, finances, and payments all in one easy-to-use platform.
The software offers affordable tools for tracking income and expenses, creating customized invoices, processing secure online payments, and handling payroll for employees and contractors.
Wave also provides detailed financial reports, giving businesses insights to support better planning and smart decision-making.
For added convenience, Wave is available as a mobile app for both iOS and Android. This allows users to manage their accounting tasks from anywhere.
Wave’s features include:
- Accounting and invoicing
- Estimates and deposits
- Receipt scanning
- Payroll management
- Payment processing
- Financial reporting
Pricing (Monthly)
- Starter: $0
- Pro: $19 /month
- QuickBooks
Best for: Businesses of all sizes, as well as accountants and bookkeepers
QuickBooks is accounting software that helps businesses manage their daily financial operations, including invoicing, payments, cash flow, expense tracking, payroll, and financial reporting.
It also helps businesses stay compliant with local sales tax regulations by providing the information needed to file correctly.
On top of that, QuickBooks is available as a mobile app, so you can manage your accounting anytime, from anywhere.
QuickBooks key features include:
- Cloud accounting
- Invoicing
- Accounting reports
- Inventory management
- App integration
- Mobile accounting app
Pricing
- Simple Start: $19/month (for 3 months)
- Essentials: $37.50/month (for 3 months)
- Plus: $57.50/month (for 3 months)
- Advanced: $137.50/month (for 3 months)
Conclusion
As you can see, each of these software programs offers its own set of features and built-in tools. Since businesses vary in the scale of their financial operations, it’s worth testing these tools to find out which one best handles your specific needs.
Of all the options, Wafeq stands out for its suitability across businesses of all sizes and industries, as well as its flexible and customizable invoicing dashboard.
TallyPrime is notable for its multi-currency accounting capabilities, while Wave and QuickBooks offer a convenient mobile app on both iOS and Android.
And finally, Zoho Books is ideal for businesses looking to leverage AI assistant capabilities in their financial workflows.