Xero Alternative for Sole Traders

For New Zealand sole traders looking for a Xero alternative that is easy to use, affordable, and tailored to their needs, Solo stands out as the ideal choice compared to Xero for sole traders. Solo’s simple user-friendly interface, live tax calculations, and excellent customer support make it a superior option for those who might find Xero’s broader focus, cost and complexity overkill for their specific needs.

Let’s set the record straight between Solo and Xero for sole traders.

Feature	Solo	Xero (Ignite)	Xero (Grow)
Price (NZD)	$27	$35	$83
Made exclusively for New Zealanders
Made exclusively for sole traders & freelancers
Live Income Tax calculations
Live Provisional Tax calculations
Live GST calculations
Live ACC calculations
Know how much tax to put aside
Claim business expenses
Ready-to-file Income Tax returns
Ready-to-file GST returns
Track Self-employed income
Track Rental income
Track PAYE (salary & wages) income
Track schedular payment (WT) income
Sync bank transactions
Reconcile bank transactions
Bulk reconcile transactions
Profit and Loss reports
Invoices		Limit 20 invoices
Clients
Asset depreciation		Requires accountant	Requires accountant
Capture receipts and invoices
Chat customer support
Mobile app
Use multiple currencies
Quotes
Enter bills		Limit 5 bills
Track inventory
Payroll		Costs extra	Costs extra

Why Solo is the Go-To Xero Alternative for Sole Traders

New Zealand’s sole traders face unique challenges when it comes to managing their finances. With the aim to streamline and simplify this process, Solo has emerged as a leading software solution, offering distinct advantages over other options like Xero. Let’s delve into why Solo is increasingly becoming the preferred choice for Kiwi sole traders.

1. Tailored for New Zealand Sole Traders

First and foremost, Solo is designed specifically for the needs of New Zealand sole traders. Unlike Xero, which caters to a broader company audience, Solo’s features and functionalities are crafted for the relevant New Zealand tax rules and the day-to-day realities of Kiwi sole traders. This specialisation ensures that sole traders are not overwhelmed by complex, irrelevant features and can focus on what truly matters for their business.

2. Live tax calculations

Knowing how much tax you owe throughout the year is crucial for sole traders. It helps prevent surprises from unexpected tax bills and allows sole traders to spend their earnings with confidence. Solo stands out as the only accounting app offering real-time calculations for income tax, GST, and ACC, ensuring that sole traders are consistently informed and in control of their tax situations.

3. Ready-to-file tax returns

Filing tax returns can be a significant source of stress for sole traders. Typically, when using Xero for sole traders, an accountant is needed to assist with this process, leading to extra expenses. In contrast, Solo is the only accounting app that offers ready-to-file income tax and GST returns. With Solo, sole traders can simply copy their tax return figures from Solo into their online return.

4. Streamline multiple income sources

Many sole traders have diverse income streams, including self-employed income, schedular payments, rental income, and salary or wages. Managing these different sources can be a complex task in Xero for sole traders. Solo, however, simplifies this process by seamlessly integrating multiple income types, enabling sole traders to manage their earnings effortlessly.

5. User-Friendly Interface

Sole traders often lack the time and expertise to navigate complex accounting software. Solo addresses this by offering an exceptionally user-friendly interface. It’s intuitive, straightforward, and requires no prior accounting knowledge, making it more accessible compared to Xero for sole traders, which can be more complex and suited for users with some accounting experience.

6. Cost-Effective Solution

Budget is a key consideration for any sole trader. Solo provides a cost-effective solution without compromising on quality and essential features. It’s more affordable than Xero’s cheapest plan, offering competitive pricing tailored to the needs of sole traders, ensuring you only pay for what you need.

7. Excellent Customer Support

Solo is proud of its local heritage, providing customer support specially tailored for New Zealand sole traders. When you reach out to Solo’s customer service, you’re speaking with someone who has years of experience as a sole trader and is an expert in Solo’s functionalities. This offers a more personalised and relevant support experience compared to Xero’s broader, global support framework.

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Ultimately, for New Zealand’s sole traders looking for a dependable, straightforward, and locally-focused Xero alternative, Solo emerges as the clear frontrunner. It not only addresses the everyday financial management challenges but does so in a way that is both efficient and cost-effective, making it the go-to choice over Xero for sole traders.

Start your Solo free trial today and experience a streamlined, stress-free approach to managing your business finances.

Wave accounting alternative for New Zealand sole traders.