310.277.3223The QuickBooks mobile application allows you to manage your finances from anywhere. In this comparison, I’ll explain how Xero and QuickBooks are similar and point out key differences so you can pick the right accounting software for your SMB. Xero’ connects to over 21,000 financial institutions worldwide, automatically importing transactions and highlighting discrepancies. The reconciliation tools are easy to use and show clear visuals for both matched and unmatched transactions. It imports quickbooks vs xero bank feeds in real time and uses machine learning to suggest and remember categorizations. QuickBooks Capital gives you a way to get a hassle-free small business loan.
The whole process seems unnecessarily complicated and discouraging. We value your privacy and will use your information only to communicate and share relevant content, products, and services. Being a cloud solution, Xero only requires a stable internet connection to function. You can access Xero from compatible web browsers like Safari, Mozilla Firefox, and Google Chrome. Now, it’s time to see the both software’s advantages and disadvantages. You can use them and see which one feels better for your business needs.
You should choose Xero if…
All the parameters mentioned above will help you choose between QuickBooks and Xero. Both QuickBooks and Xero are quite efficient in handling accounting functions for your business. Therefore, before comparing both, you must first analyze your current and future business requirements. We are a virtual staffing service company that helps thousands of businesses across the world in building, growing, and transforming their online presence.
QuickBooks vs Xero: Which Is Right for Your Business?
That’s one reason many QuickBooks competitors struggle to match how easy it is to get started with automation inside QuickBooks itself. For most small businesses, both Xero and QuickBooks cover the critical integrations. Where it gets tricky is if you have very niche or industry-specific systems; that’s where digging into each app marketplace becomes important. Multi-currency support is available on Xero’s Established plan and handles a wide range of currencies globally.
With Xero, you can manage your finances on the go, ensuring you stay on top of your business’s financial health. QuickBooks is a comprehensive accounting software designed to help businesses manage their finances efficiently. It offers features like invoicing, expense tracking, and financial reporting, making it a go-to solution for small to medium-sized businesses. With its user-friendly interface and robust functionality, QuickBooks simplifies complex accounting tasks, allowing you to focus on growing your business. Whether you’re a freelancer or a business owner, QuickBooks provides the tools you need to keep your financials in check. QuickBooks is the leading accounting software for small businesses, designed to simplify financial management and empower growth.
Business.com aims to help business owners make informed decisions to support and grow their companies. We research and recommend products and services suitable for various business types, investing thousands of hours each year in this process. We’ve seen businesses struggle inside both platforms because data entry was rushed, reconciliations were skipped, or categorizations were done incorrectly. Even platforms like QuickBooks with plenty of automation leave room for costly human error when books aren’t maintained properly.
The real value comes from whether the specific tools your business uses connect smoothly without constant manual workarounds. The size of the app marketplace is part of the story, but real flexibility comes down to how useful those integrations are and how easily you can build automation that fits your business. If you’re hands-on with your books or have frequent complex adjustments, the more rigid controls inside QuickBooks may give you peace of mind. If you trust automation for your relatively simple daily workflow, Xero’s lighter approach may save you time. Inventory and project profitability tracking are both available on QuickBooks and Xero, but again, the structure and pricing differ. Let’s look at where the two platforms match up and where one might work better depending on how you run your business.
QuickBooks Feature Review
Regardless of what route you choose, make sure to do your research and get hands-on with free trials to find the accounting software that’s right for your business. QuickBooks Online does offer phone support for its customers but doesn’t have email support. Phone wait times are often short, but the helpfulness and knowledge of representatives vary, so resolving your issue may take some time. QuickBooks Online has a number of other support resources, including a help center, in-software help, training, and guides, to help you get the answers you need. Speaking of pricing, QuickBooks Online can get a little expensive and may be out of budget for smaller businesses looking for a more cost-effective accounting solution. Patriot is a top pick for payroll with benefits like affordable pricing, unlimited payrolls, US-based support, and free direct deposit.
- QuickBooks is specifically designed for US-based businesses, offering alignment with Generally Accepted Accounting Principles and direct integration with US tax-filing systems.
- While Xero supports unlimited users on all plans, QuickBooks Online only supports up to 25 — and this is only available on the most expensive plan.
- You’ll also benefit from multiple customer-support options, which are particularly important if you’re managing many invoices and bills.
- Plans range from $50 per month to $130 monthly, plus there are additional fees for extra employees.
- Xero is a cloud-based accounting platform that primarily serves small and medium businesses.
Plans & pricing
- At different seasons of the year, QuickBooks plans have been between 50% and 70% off for the first three months.
- Users new to accounting basics may experience a learning curve for some features.
- So, to guide you through the process, this article offers a granular comparison of their pricing plans, usability, stand-out features, and support options.
- Our team ensures you receive and maximize the tax credits you are eligible for.
- You simply add users as you grow with no extra fees or plan upgrades.
However, if you prefer QuickBooks Desktop features, you can plan to migrate it to cloud hosting. If you want a cloud-based platform to improve accessibility and operational flexibility, you can go for Xero. However, if you want QB Enterprise features with cloud functionalities, you can opt for QuickBooks Enterprise cloud hosting. However, with Xero, you might need to integrate a third-party ERP solution to manage functions, such as sales, inventory, customers, and vendors. You can also contact them to get customized pricing as per your requirements. While their help is useful, the response time might depend on where you are.
For businesses, financial agility and operational transparency are important when it comes to getting a competitive advantage. Therefore, the choice between Xero and QuickBooks is far more than a comparison of two accounting software solutions. One feels more relaxed and flexible, while the other gives you a bit more structure and control.
While these methods work for non-urgent issues, they may frustrate businesses requiring quick resolutions. As the leading business accounting software platform, QuickBooks is unsurprisingly a standout when it comes to integrations. The platform offers high-quality built-in integrations with many leading business software vendors. For example, QuickBooks integrates with Square, Gusto, PayPal, eBay, Shopify and Etsy. You can cancel anytime, you’ll get 24/7 support during your trial, and your prices don’t change based on whether you pursue the trial.
Your business operates internationally or deals with multiple currencies
QuickBooks Online is a feature-rich accounting tool that has earned its reputation as a leading choice for businesses of all sizes. Here we’ll look at the current pricing for the plans available for users, this gives you an idea of the cost but remember to look into each plan on their website to see what they include. That said, we found Xero’s invoicing tools a bit limited overall. For example, you can’t use Xero to accept tips via invoices as you can with QuickBooks. On top of that, you can only convert quotes, not estimates, to invoices in Xero.
What to Look for in Accounting Software
Both QuickBooks and Xero are trusted by thousands of small businesses. QuickBooks, made by Intuit, is known for its powerful features and long history in the accounting world. This is because Xero offers unlimited users across all plans, which is ideal for teams looking to expand their team size (but don’t want to pay for additional user costs). Xero, founded in 2006, is a dynamic solution that lets businesses manage their invoices, inventory, bank reconciliations, expenses, payroll, and other finances with ease.
Xero and QuickBooks are two popular cloud-based accounting software platforms widely used by small and medium-sized businesses. There’s no question that both platforms have revolutionized how small businesses manage their finances, each offering powerful tools wrapped in user-friendly interfaces. QuickBooks Online offers more comprehensive support options, including 24/7 live chat and extended phone support hours. This ensures businesses can access assistance whenever needed, making it ideal for those with time-sensitive inquiries. Xero is a popular choice for businesses seeking a straightforward, cost-effective accounting solution with modern features.
