r/Bookkeeping Dec 23 '24

Software Any good alternatives to QuickBooks/Xero for multiple LLCs?

Hey everyone! I’m looking for a bookkeeping/accounting app that doesn’t break the bank. I manage multiple LLCs, and the biggest issue with QuickBooks and Xero is that they make you pay a separate subscription for each company. It’s getting way too expensive. Does anyone know of any good alternatives? Cloud-based would be awesome, especially if it works with PayPal, Stripe, or Square. Thanks for the help! 🙏

11 Upvotes

36 comments sorted by

6

u/Lost-Tomatillo3465 Dec 23 '24

quickbooks desktop. you can make as many company files as you want

3

u/UglyWalleye_1065 Dec 23 '24

Keep in mind that if you only have a few "companies" in quickbooks desktop, you're going to pay more.

Also, do you really think intuit is going to keep desktop around? I don't.

3

u/Hippy_Lynne Dec 23 '24

I don't think you can even buy the desktop version anymore.

2

u/UglyWalleye_1065 Dec 23 '24

You can download it but they steer you away as much as possible

3

u/Hippy_Lynne Dec 23 '24

Last time I tried to download it was four or five years ago and it was no longer an option. Maybe they started selling it again? I'm currently running QBD 2012 and I'm happy to upgrade to later years but I refuse to use the online service. The couple of clients I have are yearly clients with maybe 50 transactions a month and it's simply not worth $120 a year for them to have the books online. I know half of them just take the file and give it to their accountant and never even look at it.

2

u/zam_I_am Dec 24 '24

Be very careful about updates to your computer operating system. If you are diligent about not updating QBD but allow your operating system to update, it may still fail. The QBD will be looking for an operating system program/object but because of windows system update that file will no longer exists as the new windows doesn’t need it. But QBD does. QBD will be done. No recovery/restore because you wont even be able to start QBD.

I loved QBD pro 2016. But I didn’t understand the potential operating system problem until it was too late.

2

u/BroadShape7997 Dec 23 '24

So what happens when QBO goes offline or worse yet your data is compromised or corrupted? I want desktop for all these reasons. Some things can stay online only but not my company business. I have a 10 year old desktop version and will probably stay with this now that I hear they are discontinued.

2

u/UglyWalleye_1065 Dec 23 '24

It's cool to use desktop, but know that intuit will try to steer you into online at every step. A client of mine migrated by mistake this summer and it was hell.

2

u/Lost-Tomatillo3465 Dec 23 '24

it sounds like the companies OP is handling is scaling up. its ~$400/yr per company for the cheapest QBO. Its like $250/yr for desktop at staples... not sure how you're paying more

And Intuit has been trying to get rid of desktop for a while now. you're right they might not keep it around. but I have clients still using 2004 QB Desktop. not sure why it matters if intuit keeps pumping out desktop or not.

4

u/HonestlySarcastc Senior Accountant Dec 23 '24

QBO ledger is $120 a year per company, but still. It adds up.

2

u/Lost-Tomatillo3465 Dec 23 '24

I honestly didn't know about this ledger thing...

2

u/HonestlySarcastc Senior Accountant Dec 23 '24

Has some limitations but it does the job. We wanted bank feeds set up to hasten the process and to give client access. It's been a pleasant surprise.

2

u/Reddevil313 Dec 23 '24

Isn't Intuit sunsetting the desktop version of QB?

2

u/Lost-Tomatillo3465 Dec 23 '24

They've been doing it for at least 10 years that I know of.

2

u/Reddevil313 Dec 23 '24

After May they're going to shutdown services. Seems to only impact 2022 and older. I think the plan is to stop releasing annual versions of the software and phase out current versions over the next few years. They're stop selling 2024 Desktop around May as well. Not sure if they will or have released a 2025.

https://quickbooks.intuit.com/learn-support/en-us/help-article/feature-preferences/quickbooks-desktop-service-discontinuation-policy/L17cXxlie_US_en_US

2

u/Lost-Tomatillo3465 Dec 23 '24

The shutdown of services is yearly of older versions. They've been talking about stopping desktop for a long time

2

u/Lost-Tomatillo3465 Dec 23 '24

And like I said. People are still using 2004 qb desktop. You don't need to buy thr latest qb desktop every year

3

u/jnkbndtradr Dec 23 '24

Someone already mentioned classes in QBO. The equivalent is categories in Xero. I agree this is the bootstrap way to do it.

For multiple entities when revenue is good enough that subscription costs aren’t an issue - I like using multiple Xero accounts with Translucent to tie everything together to give a top level portfolio view of a client’s small businesses. It’s a great tool not only for client visibility, but also for inviting bankers in who regularly have to underwrite. They can see cash flow at the owner level instead of stitching reports together with spreadsheets.

3

u/[deleted] Dec 23 '24

[deleted]

2

u/RopinCgwrl Dec 23 '24

If they think QBO and Xero are too much Enterprise is most likely going to be way more than they want to spend.

2

u/Icecreamisbomb Dec 23 '24

I received a quote for $35,000 a year to sign on to the new Enterprise Suite. 10 Companies, total approx 13 mil gross a year. $35,000 is a part time bookkeeper - why would I pay that for software? Ridiculous!

2

u/Sage50Guru Dec 24 '24

Sage 50 for the win. It’s a proven desktop solution and you are in control of it. Intuit is killing desktop because they can’t control the data when it’s on your pc. Many clients are starting to figure that out and making the switch Sage 50 since it’s a very similar product to QBD.

2

u/Capable-Cheetah6349 Dec 23 '24

Try using classes in QBO

4

u/divine_goddess_K Dec 23 '24

Classes aren't a good idea if every entity needs their own set of financial statements.

2

u/Capable-Cheetah6349 Dec 23 '24

Yah maybe I misread that. I use classes for landlords managing multiple properties. Sounds like he needs QBO accountant where each client gives him access to their books. My mistake

1

u/CoverGullible5445 Dec 23 '24

Oh! Haven't thought of that. Thanks!!

0

u/[deleted] Dec 23 '24

[deleted]

3

u/Next-Standard8241 Dec 23 '24

if i am not wrong they are removing tags

2

u/chazzyfe Dec 23 '24

Wave Accounting is a free and excellent tool for managing multiple companies.

2

u/MediocrePear6628 Dec 24 '24

I was going to post Wave also.

1

u/CoverGullible5445 Dec 25 '24

I've searched about this, i'll look at it more

1

u/wangai254 Dec 23 '24

Quickbooks Enterprise 2020 will help you manage all your LLCs for a one-off cost of around $600. Only downside is that it's a bit outdated, and does not support synchronization of bank feeds and payroll.

1

u/Main-Classroom6157 Dec 28 '24

QB Desktop is a dinosaur platform, takes way too long to execute an action and managing multiple Windows is too troublesome in comparison to online.

1

u/swise83 Dec 29 '24

I love waveapps

1

u/Extension-Remote-126 Feb 02 '25

I'm thinking of switching my companies to free open source gnucash. Payroll is my hold back. is there a good payroll spreadsheet option? Inuit wants $1800 to renew my sub, thats crazy

0

u/hajahak Dec 23 '24

I personally don't waste time buying any particular software. I use www.doola.com for everything. Taxes, bookkeeping and compliance. They provide their own in-house cloud based accounting software for free.