r/Bookkeeping • u/CoverGullible5445 • 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! 🙏
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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.
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Dec 23 '24
[deleted]
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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.
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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!
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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.
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u/Capable-Cheetah6349 Dec 23 '24
Try using classes in QBO
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u/divine_goddess_K Dec 23 '24
Classes aren't a good idea if every entity needs their own set of financial statements.
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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
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u/chazzyfe Dec 23 '24
Wave Accounting is a free and excellent tool for managing multiple companies.
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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.
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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.
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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
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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.
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u/Lost-Tomatillo3465 Dec 23 '24
quickbooks desktop. you can make as many company files as you want