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Quickbooks vs. Xero - Which is the Best Accounting Software

October 10, 2021

Quickbooks vs. Xero

Accounting software has come a long way, now with several amazing options to choose from. In this blog post, we will compare the two leading accounting software Quickbooks and Xero, and provide you with the information you’ll need to decide which software is best for your business.

Quickbooks Overview

Quickbooks is arguably one of the most well-known accounting software out there, mainly well-regarded for its seamless integration capabilities. It is designed to cater to a vast array of businesses, from small business owners to accountants. Quickbooks offers two versions: Online and Desktop.

Quick Fact: Quickbooks has over 2.2 million subscribers worldwide (as of August 30th,2021) according to Statista.

Xero Overview

Xero is another cloud-based accounting software that offers similar features to Quickbooks. The application automates several time-consuming accounting tasks - this frees up time for business owners to focus on other essential aspects of their business.

Quick Fact: Xero currently serves 2.7 million users and over 16,000 professionals worldwide.

Pricing

Pricing is a crucial aspect of purchasing any software, and budget businesses may not have the privilege of investing in higher-end software.

Quickbooks Pricing

Quickbooks offers a range of pricing packages and plans that cater to different business sizes, i.e., Self-employed, Simple Start, Plus, and Advanced. Below is a breakdown of the pricing plans:

  • Self-Employed: $15/month

  • Simple Start: $25/month

  • Plus: $70/month

  • Advanced: $150/month

Xero Pricing

Xero has three pricing plans that cater to the different sizes of businesses:

  • Early: $11/month

  • Growing: $32/month

  • Established: $62/month

At a glance, it seems like Xero is relatively more expensive than Quickbooks.

Features

Accounting software needs to offer several features that make managing finances easy and efficient.

Quickbooks Features

The online version of Quickbooks offers the following features:

  • Bank Account Synching
  • Receipt Scanning
  • Recurring Invoices
  • Sales Management
  • Multi-Currency
  • Mobile App

Quickbooks Desktop version offers all of the above features, plus the following:

  • Shipping Manager
  • Industry-Specific Reports

Xero Features

Xero offers similar features to Quickbooks. The features include:

  • Bank Account Synching
  • Multi-Currency
  • Mobile App
  • Expense Claims
  • Recurring Invoices
  • Financial Reporting

Xero has a slight edge over Quickbooks in the area of expense claims.

Customer Support

It is essential to have good customer support when purchasing any software.

Quickbooks Customer Support

Quickbooks offers:

  • Phone Support
  • Chat Support
  • Email Support
  • Community Forum

Xero Customer Support

Xero offers:

  • Chat Support
  • Email Support
  • Community Forum
  • Help Center

Quickbooks offers users phone support which is not available in Xero, making Quickbooks a slightly better option for businesses who prefer phone support.

Verdict

Quickbooks and Xero offer several similar features, and both are excellent accounting software. However, the decision between the two depends entirely on your business model and your personal management preference.

Overall, Quickbooks is the better accounting software option for businesses that require multiple users and industries specific reports, while Xero might be the best option for businesses that need some flexibility in accounting software. Ultimately, consider the factors discussed in this blog post and make an informed decision based on what works best for your business

References

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