It offers tools for time tracking, project planning, budgeting, expense monitoring, quoting, and invoicing. QuickBooks offers advanced invoicing features such as customization, recurring invoices, email sending, and payment options. Users can add customer information, choose payment methods, add service details, and send invoices via WhatsApp or a link after saving them. QuickBooks is an online accounting software that helps users track receipts, bank transactions, and income.
Tax: Xero Wins
Essentials supports just three users, while Growing is unlimited, making it better value for large or growing operations. Like QuickBooks, Xero has a function to automatically interim reporting calculate sales taxes for each invoice, as well as state or city taxes. A tax default can be set for any purchase, and Xero offers an integration with Avalara TrustFile in order to help you file your returns. Xero’s software also lets you map your accounts to different categories of tax form, keeping everything organized. QuickBooks and Xero are both solutions with great tools for core accounting needs like bookkeeping, account receivable tracking, and payroll functionality at an additional cost.
- While Xero’s $13 Early plan is far cheaper than QuickBooks’ $30 Simple Start plan, it’s also very limited due to the caps on invoices and billing.
- Phone support and live chat support are available 24/5 to all paying customers, but third-party integrations are limited compared to QuickBooks Online and Xero.
- QuickBooks simplifies finance management by allowing users to organize receipts and track mileage easily using its mobile application.
About QuickBooks Online
We are driven by the Fit Small Business mission to provide you with the best answers to your small business questions—allowing you to choose the right accounting solution for your needs. Our meticulous evaluation process makes us a trustworthy source for accounting software insights. We don’t just scratch the surface; we immerse ourselves in every platform we review by exploring the features down to the finest nuances. Using the QuickBooks mobile app, users can take pictures of receipts, and the software will automatically match its information with existing transactions. QuickBooks simplifies finance management by allowing users to organize receipts and track mileage easily using its mobile application. Accountants praise Xero’s automatic bank feeds, usability, and simplified payroll.
The main differences between Xero vs QuickBooks lie in features and pricing. Xero is more affordable than QuickBooks Online, always includes unlimited users, and offers inventory management and fixed asset accounting in all its plans. QuickBooks has earned the trust of millions of small businesses due to its robust features and user-friendly design.
Xero vs QuickBooks: Top Features Comparison
If you need to track income, expenses, invoices, and time, hotel accounting 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. As a larger business, you can also look into Intuit’s wider software suite, including QuickBooks Enterprise Solutions, which claims to have 6x the capacity of other QuickBooks editions. The Enterprise edition scales up to 30 users, supports up to 1 million list items, and offers advanced reporting, inventory, and printing. Its intuitive interface and helpful guides make it easy to navigate, even if you have no prior accounting knowledge. And if you need assistance, QuickBooks offers robust live customer support to help you along the way.
Xero vs. QuickBooks Online: Pricing
However, we want to emphasize that Xero offers fixed asset accounting in all its plans, making it an affordable QuickBooks alternative for fixed asset management. Xero has a clean, distraction-free interface where users can find what they want. Each dashboard section has an ‘i’ button containing basic information about it. It also offers one-click access to help articles that users can refer to anytime. However, novice users will find it difficult to navigate the software because its menu bar contains a few options. Xero allows seamless mileage tracking by letting its users enter the start and destination locations on the map.
You can search the online directory to locate financial professionals who specialize in working with your industry. Xero does offer Xero Advisors, but the QuickBooks ProAdvisor network is much larger. QuickBooks Online came out on top for several features, ease of use, and customer support among others, but Xero wins in pricing. We’ll explain our Xero vs QuickBooks comparison findings in greater detail in the following sections. QuickBooks dashboard has a customizable home page with widgets and a planner page, allowing a real-time cash flow view.
QuickBooks allows users to include project details to calculate profitability. Users can add invoices, estimates, expenses, time, bills, purchase orders, etc., into a project. It also generates reports on project profitability, time cost by employee, and unbilled time and expense for individual projects. QuickBooks offers a bank account reconciliation feature certified b corporation that lets users connect their bank accounts, PayPal, Square, and other accounts with QuickBooks to import transactions automatically. It allows users to compare transactions with bank statements and check them off one by one until the difference between them is zero. You can send invoices and quotes, enter bills and reconcile bank transactions for $30/month.