Quickbooks vs. Xero

Quickbooks is the baby of Intuit, an accounting giant. Born in USA, this was developed way back in 1983 and in today’s date, it is the top most player in American market and has market capture of about 85%.

Xero, was developed by Rod Drury in New Zealand in 2006. It was awarded the best accounting software by Cloudswave Awards. It now serves more than 593,000 businesses in more than 100 countries.

Ease of Use – Quickbooks vs. Xero

The one feature that sets Xero apart from its competitors is ease of use. Layout is designed innately and navigation is a breeze with Xero. Help guide and descriptions makes it easier for a person without accounting knowledge to use the application effortlessly.

Quickbooks need to work on its application and make sure that it is easy for users to work on. There are some trivial defects in the application which hampers the efficient use of application. Some redundant steps in navigation are often marked as a serious downside by end-users. It does not offer a comprehensive knowledge base which makes the matter even more worse.

Reliability – Quickbooks vs. Xero

Xero wins big in this domain. When you are stuck with a bug in Xero, reps are available 24/7/365 to support you. This is completely missing with Quickbooks. People are available from Monday to Friday and for some time on Saturday. Quickbooks hence loses out on the reliability bus.

Moreover, Xero has specialized support system covering phone, web and mail support. All you need to do is send across your contact number and your problem, a service rep from Xero will call you within no time and solve your problem with ease.

With its unique knowledge base and video tutorials, users can solve problems themselves without being hassled. NO such support system exists in Quickbooks. This is a tough call in a SaaS apps cloud war. Downtime is negligible for both online accounting applications and is less than .05%, which is indeed a laudable effort.

Speed – Quickbooks vs. Xero

Given the easy access to dashboards, Xero is quick and fast as it could get. It is way too faster than Quickbooks; as it is easily available just with an Internet access. Xero also has an unique matching transaction, which recommends where there is a mismatch between accounting entries. You would have to wade through a huge search option in Quickbooks to match your accounts.

Since these are cloud based, information available is real-time. The hardcopy files can be clicked and sent to Xero files to get them documented. It definitely increases your speed in prepping your accounts while someone else does your documentation.

Features – Quickbooks vs. Xero

Xero gets copious features that enable it to spearhead the online accounting solutions – multi layer security, free and automatic updates to quote a few. User could link Xero to bank account and could relish real-time view of cash flow which encompasses credit card and Paypal transactions with just the matter of a click.

You may seek for help from accountant and other workforces who could render constructive advice to nurture your business. Multi-layer security offers peace of mind to users. Complex payroll requirements are rendered easy by integration the application with third party vendors. It is also compatible with an array of gadgets like Mac, PC, tablet etc.

You could also design custom rules to perform complex transactions with much ease. Applying for leave requests is easier that before – employees can submit leave requests and view pays lips from the mobile while they are on the move. Dashboard is the king of the segment and you could view precisely who owes you the money and stay updated. One could also keep track of particular segments of your business.

At the heart of Xero lies an efficient inventory management system which helps user to keep track of the inventory and foster stock control. Inventory add-ons let you accomplish complicated inventory requirements. User could also keep track of profitability and the quantity.

Xero also boasts of forty reports which are configurable and comes with comprehensive exports and snapshots. Invoice reminder is yet another feature worth mentioning.

Book keeping is rendered easy by Quickbooks and user could easily send invoices, manage expenditures and keep track of organization related data. Creation of invoices is a breeze with Quickbooks – you could generate billing statements and reports easily. You could send precise bills to your clients on time.

Bills could be customized to include relevant company related data. Memorizing bills is no longer a headache – memorized billing transaction feature helps the Quickbooks to deliver the bills at specified recesses. You may also keep track of details like status of bills.

Automatic Invoicing option helps to safeguard precision. Invoice could be send as email with just the matter of clicks. User could send invoice either independently or in batches. User could also customize the invoices by incorporating logo for the firm and contact details.

User can also incorporate discounts and offers to entice customers. An efficient payroll system offers galore of options to take your firm to an all new level. Salary calculation, pay slips,  employee self-service, sync and journal posting are some of the remarkable features.

Security – Quickbooks vs. Xero

When it comes to security aspect, XERO triumphs over Quickbooks with its venerable range of security features like encryption of sensitive data, HTTPS backing, and the like. It is also compliant with PCIDSS standard, which is touted as the final word when it comes to security standards.

However, Quickbooks is deprived of the features mentioned above, which makes it to perform at a hair below average security features. Quickbooks get good security features like SSL encryption and this online accounting application is subject to regular penetration testing which enables it to shine well against its rivals.

It also gets regular external security audits. Both Xero and Quickbooks need to implement multi-factor authentication options to prove its mettle when it comes to safety feature.

Summary – Quickbooks vs. Xero

Although Quickbooks has a huge market base and almost a monopoly in this industry, Xero has tons of features to make it a tough competition in this line of business. Xero’s unique capabilities, ease of use and support system, makes it the best choice for your business. It also comes free for starters.

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