The bank reconciliation module must also let users reconcile accounts with or without bank feeds for understanding variable cost vs fixed cost optimal ease of use. QuickBooks Live doesn’t offer tax filing or payroll services, unlike Bookkeeper360. Prices for QuickBooks Live Bookkeeping scale with the monthly expenses of your business, which means higher costs for businesses with higher expenses.
Customer support
We tackle these differences between Xero and QuickBooks in detail in the following sections. However, the layout and navigation may not be as intuitive for some users, especially those who are new to accounting software. All of your bank and credit card transactions automatically sync to QuickBooks to help you seamlessly track your income and expenses. Xero offers this through Hubdoc so you can access your documents online.
We encourage you to research and compare multiple accounting software products before choosing one. NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Feature set includes an excellent mobile app and suite of reports, capable invoicing features, plus automated bill and receipt capture through Hubdoc. While it’s not part of our case study, we evaluated Xero vs QuickBooks Online in terms of assisted bookkeeping.
It’s particularly well-suited for businesses who prioritize an all-in-one solution. QuickBooks is an online accounting software that helps users track receipts, bank transactions, and income. It is popular among small to medium-sized businesses and offers cloud-based and on-premises applications.
While QuickBooks may have a steeper learning curve compared to simpler systems, it offers support resources. Users can access online guides, chat with support agents or speak to someone over the phone. Additionally, specific support hours are available for different subscription levels, with advanced users enjoying 24/7 assistance. However, users new to accounting might find QuickBooks’ interface overwhelming initially.
How to Connect Xero to BigQuery?: 2 Easy Methods
Includes project tracking tools in most expensive plan; limited transaction tracking tags; lacks industry-specific reports; users with multiple businesses must pay for separate subscriptions. Ease of use gets the highest weight in this case study because we want to give more credit to easy accounting software. For this section, we considered customer service, support network, and a subjective expert opinion score.
Wise Personal vs Wise Business: Understand the Difference
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. The platform offers a comprehensive range of accounting tools, from invoicing and expense tracking to payroll and inventory management.
- The QuickBooks Advanced plan costs $200 per month, supporting 25 users.
- All QuickBooks plans can let businesses track sales tax and manage 1099 contractors, with the exception of the Self-Employed plan, which instead helps freelancers estimate their quarterly taxes.
- QuickBooks allows users to customize their invoices by selecting templates, adding logos and brand colors, choosing fonts, and editing sections.
- It helps users manage a small workforce and maintain accurate payroll records.
First launched in 2001³, QuickBooks Online is a cloud-based accounting service from Intuit with a monthly subscription plan. Xero and QuickBooks are two of our best-rated accounting tools, but Wave is undoubtedly the safest bet for businesses watching the bottom line. Unlike Xero and QuickBooks, businesses can get started on Wave for completely free and the software is also available to an unlimited number of users — extending its use even further.