Some of its features really stand out, such as its customer management system. QuickBooks Online has four pricing plans ranging from $35/month to $235/month. The more expensive QuickBooks plans include additional features and users.
QuickBooks vs. Xero: Feature comparison
If snapping photos of receipts to claim expenses on the go is a key mobile feature you’d like to have, regardless of plan level, QuickBooks Online might be a better fit. Robust feature set includes thorough record-keeping, comprehensive reporting, excellent invoicing and inventory management, plus a capable mobile app. Xero Established is a comprehensive plan for businesses managing multiple projects and tracking in-depth financials. It includes everything in Growing, plus multi-currency accounting, project costing and tracking, expense claims, and in-depth analytics. QuickBooks and Xero are both popular accounting software options for small businesses, but which one is right for you?
Choose QuickBooks Online If…
- For QBO, you pay a monthly subscription rather than an upfront fee, and you get all the patches and software updates from Intuit.
- And if you find that neither company meets your needs, you may be better off with one of our top accounting software picks for small businesses.
- This is the easiest tool we encountered in any accounting software platform for making timely payments in one click.
- The software must have tools to track time, record billable hours or expenses, send invoices for progress billings, or monitor project progress and performance.
Another reason QuickBooks Online stands out is its ability to calculate sales tax rates automatically based on the customer address, which is something Xero can’t do. Hence, it’s no surprise that QuickBooks Online is our overall best invoicing accounting software. Our meticulous evaluation process makes us a trustworthy source for accounting software insights.
If you need to track income, expenses, invoices, and time, you’ll likely be paying $35/month for QBO or $60/month for Xero. For the top plans, you’ll get similar functionality from both providers. Xero has over 1,000 integrations, so you can connect with other software and apps what do cash flow statements have to do with liquidity chron com to manage inventory, process payments, track time, and more. We went to user review websites to read first-hand reviews from actual software users.
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A standout Xero reporting feature is the ability to mark the reports you run most often as favorites. This way, you can access these reports near-instantly upon logging into Xero. Plus, no matter what, profitability reporting and data are available right from the Xero dashboard. Xero’s reporting tools impressed us overall, even though other platforms include a wider variety of reports. 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.
For instance, QuickBooks Online allows you to add an inventory item from the invoicing screen, something you can’t do with Xero. You can do a lot with QuickBooks Online, but all the options may feel like information overload starting out. Integrates with more than 750 apps and offers live, in-house bookkeeping add-on. This doesn’t mean QuickBooks what is a favorable variance what it means for your small business Online is the right choice for all businesses, though. Xero’s unlimited-users feature makes it a winner among larger businesses and well-established small businesses that require more than five users.
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Xero comes out on top for its support of unlimited users at no additional cost — something that is pretty much unheard of in the accounting software world. Xero is cloud-based accounting software that supports cash-basis and accrual accounting. Xero has a robust set of features, an impressive number of integrations, and strong mobile apps for accounting on the go.
Prices for QuickBooks Live Bookkeeping scale with the monthly expenses of your business, which means higher costs for businesses with higher expenses. We break down the prices in our QuickBooks Live review’s pricing section. You can rely on Xero and QuickBooks Online for project accounting, as both allow you to create estimates and set up and track projects.
We’ll compare their essential accounting features, pricing, integrations and more to help you choose the right accounting software for your needs. Xero has a pricing structure similar to QuickBooks Online and offers three products–Early, Growing, and Established–ranging from $15 per month to $78 per month. For companies needing a payroll function for their employees, Xero offers add-on integrations for an additional cost. While both software will let you create recurring bills, only QuickBooks will allow you to schedule automatic recurring payments.