We went to user review websites to read first-hand reviews from actual software users. This user review score helps us give more credit to software products that deliver a consistent service to their customers. Customer service is evaluated based on the number of communication channels available, such as phone, live chat, and email. Software providers also receive points based on other resources available, such as self-help articles and user 5 real-world finance report examples and templates to inspire your own communities.
Xero vs. QuickBooks Online: Pricing
The QuickBooks Online accounting dashboard provides much of the same information that’s included in Xero’s dashboard, but it also provides quick links to tasks such as invoicing, time tracking, and payroll. For those on the go, Xero has a mobile app accounting tool for both iOS and Android devices, though the app does not give you access to all of the features found in the full version. You can import data such as customers into Xero, but you’ll have to download the CSV file template in Xero in order to import the data correctly.
Dashboard and Reporting
Video training courses, a blog, and a community forum are also available. Both QuickBooks and Xero let you set up automated data tracking and report generation, but QuickBooks has more granular options, making it faster to compare reports against historical data. You’ll still be able to accomplish everything you need with both, but it’ll be a little faster with QuickBooks. Both services will allow you to modify your main dashboard to display accounting for churches the stats that matter most to you, but QuickBooks offers a little more flexibility.
How the Products Stack Up
Elite offers all of Premium’s features, plus a project activity feed for better control, project estimates that can be easily compared with actuals, geofencing, and support for timesheet signatures. With QuickBooks, you can even take photos of your physical receipts, which the software automatically matches to existing expenses. Transactions can be imported from bank accounts, credit cards, or third-party services like PayPal and Square. Xero also lets you send quotes and estimates that can quickly pull up data on contacts, inventory, and pricing. Additional automation abilities let you select inventory items from a preset list, quickly duplicate a previous invoice, or set up automatic invoices for repeat orders.
Overall, Xero is an efficient and cost-effective way for small businesses to manage finances. Xero is a better option for businesses that need to track project profitability. This is because Xero allows you to see how much each project is costing you in real time and compare that to your estimated profits. Xero is also a better option for businesses that are expanding internationally as it offers multicurrency support. Known for its strong financial management tools, Sage is often favoured by larger enterprises or businesses with more complex accounting needs.
Includes tools that help automate the reconciliation process, along with a global search function and customizable dashboard; has a simple layout. Many, or all, of the products featured on this page are from our advertising partners who compensate us prepaid expenses examples accounting for a prepaid expense when you take certain actions on our website or click to take an action on their website. Plus, Xero staffers can call people back to discuss their cases over the phone, giving you that phone support you need, albeit in a roundabout way. Both services have plenty to offer, but in the end, Xero has more integrations than QuickBooks. Here’s our comparison of the core features provided by Xero and QuickBooks.
- You can’t initiate a call, but you can submit a ticket and wait for an agent to call you.
- Second, QuickBooks offers some features that Xero doesn’t have, like document scanning.
- Xero is not an alternative to project management software, but it has some useful project management features for companies involved in various projects.
- Both accounting software products let users invite their accountants by email.
- While Xero and QuickBooks are wildly popular, they’re not the only options available.
QuickBooks is Intuit’s general accounting software, while QuickBooks Online (QBO) is specifically the cloud-based service. For QBO, you pay a monthly subscription rather than an upfront fee, and you get all the patches and software updates from Intuit. In this article, we’ll mostly refer to QuickBooks Online, which is what we think you’ll likely opt for instead of Intuit’s desktop version of QuickBooks.
The Ascent, a Motley Fool service, does not cover all offers on the market. The ability to integrate a software product with other applications can increase its functionality tremendously. Both Xero and QuickBooks Online offer excellent integration with hundreds of apps. Its data-entry screens are more minimalist than those of QuickBooks Online, and its invoice and billing entries require less in the way of data entry. For those moving their small business’ accounting over from another application, you can import data into QuickBooks Online using the Import Data function.
Robust feature set includes thorough record-keeping, comprehensive reporting, excellent invoicing and inventory management, plus a capable mobile app. Overall, the cheaper cost of Xero’s time tracking abilities is likely to make it the more appealing option, even if QuickBooks includes more features. Some businesses may rely on those features, however, particularly if they opt for top-down oversight that requires greater control.
If you need comprehensive bank reconciliation, class and location tracking, good customer support, and easy access to local bookkeepers, then QuickBooks Online wins. QuickBooks Online, the market-leading accounting software from Intuit, offers “Smarter business tools for the world’s hardest workers”. With their cloud-based system, businesses can streamline many of their repetitive tasks and processes by managing bills and invoices, tracking projects, and even tracking miles automatically with a smartphone. Xero and QuickBooks are both great accounting software options for small businesses. They both offer a wide range of features, an easy-to-use interface and competitive pricing. The software integrates with your bank accounts, credit cards, and other financial services, allowing you to import transactions automatically.
