Finding reliable accounting software to track time, money, and client payments is a constant quest for freelancers, accountants, and business owners. ZipBooks is the complete package because it is cheap, easy to use, and full of features that small businesses need. In this article, you will get to read more about ZipBooks reviews, pricing, and competitors. We also added the differences between ZipBooks vs QuickBooks so as to help you navigate the one that suit your need the most.
Enjoy the ride!
What Is Zipbooks?
ZipBooks, with headquarters in American Fork, Utah, is a free accounting software solution aimed at entrepreneurs and bookkeepers of small businesses. It is also useful for independent professionals, such as consultants, contractors, and sole proprietors. Tim Chaves started the company with the goal of empowering local entrepreneurs with data and resources. ZipBooks is a free bookkeeping software for independent contractors, accounting firms, and new enterprises. It is used by contractors and accountants to keep track of invoices and payments, as well as clients and billable hours across several client profiles.
Invoice generation and sending, online payment processing, expenditure management, and proposal and estimate generation are just some of the capabilities included in this light accounting system. Smarter bookkeeping processes, such as time monitoring, client messaging, inventory management, and payroll connection, are available to accountants using ZipBooks.
You can keep your most valuable customers, get paid on time, and assess your performance in comparison to the competition with the help of features like smart insights and reports. Auto-billing and automated payment reminders are just two more ways that you can streamline the process. ZipBooks’ many functions include invoicing and billing, accounting, business analytics and reporting, spending monitoring, and time management. Users can upgrade to a paid subscription to gain access to extra features like payroll integrations and bookkeeping services.
ZipBooks Features
The following are the features of ZipBooks:
#1. Invoicing and billing
ZipBooks’ billing and invoicing functionality is included in all subscription tiers. Users may make and send bills to clients that appear professional, import contacts and previous invoices, and have a bird’s-eye perspective of their accounts receivable.
When it comes to making invoices, there are a few standout options. Invoices are assigned mechanically by the system based on prior invoice data. ZipBooks provides an Invoice quality score for each invoice that is created. Based on an analysis of over 250,000 invoices, this function assigns a quality score between 0 and 100 at the time of invoice generation.
In terms of delivery, ZipBooks allows you to email PDF invoices to your customers for simple printing and filing. The software safely retains all vendor and customer data, making it available whenever it’s needed. ZipBooks also allows you to track infinite vendor and customer information automatically, saving you time and effort.
#2. Accounting
ZipBooks has a number of useful accounting functions built right in, including double-entry bookkeeping. You can keep tabs on all of your business dealings, check who owes you money and how much, and receive a comprehensive picture of your company’s financial standing. The software allows you to link your bank account(s), thereby removing the need to manually enter your transactions.
To facilitate your accountant’s work on your tax returns, financial reports, and consultation services, you can grant them access to the software using the Accountant Access function. You may rest easy knowing that your books and bank statements are in sync with the bank reconciliation feature. ZipBooks’ auto-categorization feature works by learning how you classify transactions and then doing so mechanically.
#3. Expenses
In order to keep your business running effectively, ZipBooks will record and report all of your expenses precisely. The program makes it simple to identify costs that can be billed to a client, increasing the likelihood that you will be reimbursed in full. You can even use your phone to print out receipts in case you lose them. You can also designate a purchase as a 1099 expenditure.
#4. Projects and Time Tracking
This is a great addition for service providers who charge by the hour, such as attorneys, architects, IT specialists, and freelancers. It can also be helpful for companies that use an hourly wage structure. By using either the built-in timer or user-entered data, the time tracking feature ensures that all work on a project is accounted for. It’s easy to keep track of your time and add notes while on the road.
Customers can be associated with the projects that users develop. When two services are connected, ZipBooks can automatically add billable hours to an invoice using the linked service’s hourly rate.
#5. Reporting and Business Intelligence
You may generate numerous types of financial reports in ZipBooks, such as income statements, balance sheets, tax invoices, general ledgers, and expense summaries. Users can generate whatever report they require by selecting it from a drop-down menu. After the report has been prepared, it can be exported to either a CSV file or a PDF.
Reports can be filtered and customized by the user by selecting a date range, a time period for each column (monthly, quarterly, annually, total), and an accounting approach (accrual or cash).
#6. Time tracking
Independent freelancers, consultants, and anybody else who needs to keep track of their time can use ZipBooks because of its built-in time-tracking feature. The timer is shown prominently at the top of the control panel. Time spent tracking can also be linked to specific clients or projects.
#7. Payments
Online transactions are possible with ZipBooks. Any major payment processor can be used on the invoice itself for customers to send money to you. Not only does ZipBooks work effortlessly with Square, but it also supports integration with services like Stripe and PayPal.
#8. Integrations
ZipBooks is compatible with Gusto, the industry-leading payroll service. This is a practical solution for companies with staff salaries to settle. ZipBooks can process online credit card payments through a partnership with Square. You can integrate ZipBooks into Slack so that you can manage your invoicing, costs, and accounts receivable without ever leaving the chat.
Who Is Zipbooks For?
Zipbooks is an excellent bookkeeping app for solo entrepreneurs, freelancers, and small businesses. The software’s built-in training tools are useful even if you have no prior experience with accounting or bookkeeping.
This option is ideal for sole owners, small businesses, independent contractors, and consultants. With its new Gusto Payroll integration, ZipBooks is also a great option for small businesses that employ people.
Pros and Cons of ZipBooks
The following are the pros and cons of ZipBooks:
Pros
- Affordable Pricing
- Suitable for companies situated in the United States (IRS Form 1099 tracking, banking options).
- Effective Customer Service
- Time tracking software is helpful for anyone who charges clients for their time.
- Designed with start-ups and SMBs in mind.
Cons
- Mismanagement of Stocks
- Bank connections in Europe, Africa, Asia, or Central/South America are not supported at this time.
- Customer service is available Monday through Friday, Utah time (8 AM – 5 PM).
- Their free tier limits you to a single banking connection.
Zipbooks Reviews
The following are the reviews of ZipBooks from reputable sites:
- The Motley Fool Rating: 3.9 out of 5 stars
- Capterra Rating: 4.5 out of 5 stars
- ZarMoney Rating: 4.7 out of 5 stars
- Technology Counter Rating: 4 · 3 out of 5 stars
Zipbooks Pricing
When making your final decision on an accounting program, pricing should be a major consideration. ZipBooks pricing has a flexible structure that caters to the budgets of businesses of all sizes. ZipBooks pricing scheme is simple in and of itself. There is a free version of ZipBooks that allows for unlimited invoices and connects to services like Stripe and PayPal. If your company needs an invoice system, the free plan is for you.
More extensive features and configuration choices are available in ZipBooks’ “Smarter” plan, which costs US$15 per month, for organizations that need more than just basic invoicing. For companies that want additional options and customization, this plan is a great upgrade. If your company needs to make the most of your accounting software, the “Sophisticated” plan is for you. This package grants access to all of ZipBooks’ features, such as the accounting software and insightful reports.
Also, the “Accountant” plan is worth considering if you are an accountant who manages a number of clients. With this subscription, you get everything that comes with the “Sophisticated” plan, plus tools to better manage customer bills.
Zipbooks Competitors
The following are some of the greatest competitors to Zipbooks which are real-time apps. Some of the Zipbooks competitors may be a better fit for your needs than others, so if you’re looking for Zipbooks competitors, keep reading. Many of these apps feature Enterprise resource planning (ERP) tools in addition to online accounting software, which can be very helpful for small firms in maintaining accurate financial records. The following are ZipBooks competitors you can opt for:
#1. Zoho Books
For small and medium-sized enterprises, Zoho Books offers cloud-based accounting software (also called an online invoicing program). It has a lot of functions that are like those in Microsoft Office.
Invoicing, expense reporting, account reconciliation, and stock management are just some of the financial tasks made easier by these capabilities. When it comes to small and medium-sized organizations, Zoho Books is a strong alternative to Zipbooks. Its freemium model appeals to cash-strapped companies and people alike.
#2. FreshBooks
With FreshBooks, billing is handled automatically. To double the rate at which you receive money, set up electronic invoicing, online payment methods (ACH and Credit Card), and overdue notices. The next step is to improve team output by recording every minute, file, and conversation with sophisticated time tracking and collaborative project tools.
FreshBooks is an online invoicing and billing service designed specifically for small businesses. Marketers, lawyers, consultants, handymen, and IT pros are just some of the businesses that FreshBooks assists.
Invoicing, Expense Tracking, Time Tracking, Reporting, and Payment Management are some of FreshBooks’ key features. Invoices can be customized, and users have the option of accepting payments online and receiving automated reminders. Receipts can be photographed, regular expenses can be set up, and invoices can be used to keep track of spending. It is one of the best ZipBooks competitors you can opt for.
#3. QuickBooks
Due to its long history, many industry professionals consider QuickBooks to be superior to Zipbooks. However, aside from its long history, QuickBooks has a number of really outstanding features, such as a cloud-based accounting system, a mileage tracker, payroll administration, an expense tracker, etc. Due to its adaptability, wealth of resources, targeted solution products, and flexible price tiers, QuickBooks is a better option. It is one of the best ZipBooks competitors you can opt for.
#3. Sage Intacct
Sage Intacct is a company that develops and sells accounting and financial management applications in the cloud. Accounting firms of all sizes can benefit from Sage Intacct because of the software’s ability to automate key financial operations, as well as provide financial reporting and operational insights. Sage Intacct is a cloud-based financial management solution that takes care of all of your basic financials and offers implementation services to get you set up.
Sage Intacct provides any accounting or finance team with a suite of essential accounting tools, including a general ledger, accounts payable, accounts receivable, cash management, and order management. It is one of the best ZipBooks competitors you can opt for. It also has global consolidations for many companies, built-in dashboards, time and expense management, project accounting, revenue management, and more.
#4. Wave Accounting
To keep track of financial transactions, small enterprises, sole proprietors, and independent contractors can use Wave Accounting. This service is unlike any other because it is completely free of charge while still providing outstanding value. It’s one of the greatest free options, similar to Zipbooks, out there. Freelancers with limited funds or no ready access to an accountant may choose this option.
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Zipbooks vs Quickbooks
Getting to know the differences between Zipbooks vs Quickbooks is very important. However, before we continue with the differences between Zipbooks vs Quickbooks, let’s check out their definitions.
What Is Zipbooks?
Zipbooks, headquartered in American Fork, Utah, is free accounting software used by small business owners and freelancers to track a wide variety of financial data, including but not limited to: income, expenditures, sales taxes, invoices, and payments.
It can be used for comprehensive financial administration, from budgeting to payroll to reporting. The software is a cloud-based accounting and bookkeeping system that facilitates the handling of credit card transactions, the distribution of invoices, and the financing of related expenses.
What Is Quickbooks?
Intuit has created an accounting program known as Quickbooks. It has features like billing, bill pay, tracking of expenses, and tax preparation services that help small businesses keep track of their money and stay organized.
The QuickBooks product line has been around since 1983, and it’s been tailored for SMBs. Both a local installation and a web-based service are accessible for Quickbooks. As a business owner, you understand the need to maintain accurate financial records. Zipbooks and Quickbooks are two of the most well-known financial management programs out there.
There are numerous choices available for accounting software. When deciding between Zipbooks and Quickbooks, it’s important to look for a solution that can meet all of your bookkeeping and financial demands. Which accounting software, Zipbooks or Quickbooks, is better for your company depends on its specific needs. If you’re a sole proprietor, small firm, or independent contractor, Zipbooks is your best bet. Quickbooks, on the other hand, is preferable for enterprises of a certain size or those with expansion plans.
Key features that set Zipbooks vs Quickbooks apart from each other include:
- While Quickbooks has both a desktop and a cloud-based option, Zipbooks is cloud-only.
- While Quickbooks can handle anything from a couple of employees to a few hundred, Zipbooks is aimed squarely at independent contractors, small businesses, and startups.
- Quickbooks works with a wider variety of programs, including industry heavyweights like Amazon Business, PayPal, and Shopify, while Zipbooks only works with a select number.
How Long Is ZipBooks Free?
The free mode lasts for 30 days.
What Is the Function of ZipBooks?
ZipBooks is cloud-based accounting software that facilitates better bookkeeping, faster invoicing and payments, and data-driven company choices. It can be used for both cash and accrual accounting, as well as for billing and invoicing customers and generating financial reports.
How Do I Connect My ZipBooks to My Bank?
- To access additional features in ZipBooks, go to the More menu after logging in.
- Access Manage Banks by going to Transactions.
- There is a green ‘+’ button that you can click on.
- You can then select your bank from the list that appears or search for it by name.
Does ZipBooks Have an App?
ZipBooks has an app for Apple’s iOS, but not for Google’s Android.
Does ZipBooks Have Payroll?
If you use ZipBooks, it will automatically record payroll transactions whenever you process checks. To help you make more informed company decisions, your payroll and tax payments are reflected in your financial reports immediately.
Does ZipBooks Have Budgeting?
If you need a way to keep track of multiple tasks, ZipBooks provides what you’re looking for. Make a new project and fill it up with relevant information, such as the project’s budget and the people working on it. Create new assignments and link them to ongoing projects to keep track of your progress.
Final Thoughts
This article has been able to give a well-detailed explanation of what ZipBooks is. We hope this helps out in your quest to get good accounting software for your company.
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