Users must have easy access to customer service channels in case of problems, questions, or assistance. QuickBooks offers live phone and chat support six days a week, providing you with a direct line to experts whenever you need them. With personalized assistance, you can tackle any accounting challenge with confidence and keep your business on track. QuickBooks and Xero are both popular accounting software options for small businesses, but which one is right for you? Here, we break down the key differences in features, benefits, and pricing to help you choose the platform that best suits your business needs and budget.
- Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy.
- If using multiple currencies is a priority to you, consider other platforms that offer this capability at a lower cost.
- We liked that Xero’s app store neatly organizes and categorizes these apps.
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. The platform’s reporting suite is among the most powerful we encountered while reviewing accounting software. 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. This disappointed us, but not as much as the narrow client payment accounting and bookkeeping for small business options available.
You can’t initiate a call, but you can submit a ticket and wait for an agent to call you. Another option for QuickBooks Online users is finding an independent QuickBooks ProAdvisor for assisted bookkeeping. You can search the online directory to locate financial professionals who specialize in working with your industry.
Account Information
We were delighted that Xero makes it so simple to keep up on correct spelling for calendarize your accounts payable and avoid late payment fees. The software must have features that allow users to set sales tax rates, apply them to invoices, and enable users to pay sales tax liability. 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.
Do I need accounting software for my small business?
Some of QuickBooks’ most popular app integrations include the payment app BILL, the line of credit solution Fundbox, and the expense management platform Expensify. We also like that Xero has an optional Gusto payroll integration for each platform at no extra cost. QuickBooks and Xero are among the best accounting software platforms for small businesses.
Customer support
Another cumbersome feature that users don’t like is the requirement that clients must establish their own accounts to pay an invoice. Other popular merchant processors don’t require this, making collecting payments more difficult. QuickBooks Online made it to our Best Accounting Software for Small Business list because it is a comprehensive platform that checks all the boxes for accounting, invoicing and expense tracking. If you aren’t sure about the product, you can give it a 30-day test run with 100% capabilities of the Simple Start Plan to see if it meets your needs. After a 30-day trial period, Xero will bill a monthly charge of $13 per month for the Early plan, $37 per month for the Growing plan and $70 per month for the Established plan. For free invoicing platforms, consider Zoho Invoice, Square Invoices or PayPal Invoicing, although these platforms provide fewer capabilities.
QuickBooks Online is a good option for many small businesses that are looking to make invoicing customers easy and integrate invoicing and payments into the general ledger. Small businesses can customize how they use the platform so that they only use the features they need. The Early subscription is tailored for solopreneurs and business owners who are just getting started. You’re able to send 20 buy vs lease equipment quotes and invoices per month, enter five bills, reconcile bank transactions, capture bills and receipts with Hubdoc and view a short-term cash flow and business snapshot.
