Compare QuickBooks and Xero - Jan 2023

Shlomi LaviShlomi Lavi / Jan 25, 2023

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Bottom Line: Which is Better - QuickBooks or Xero?

Functionality:

QuickBooks and Xero are both accounting software designed for small and medium-sized businesses. Both software offer similar functionality such as invoicing, expense tracking, and inventory management. However, QuickBooks offers a few more advanced features such as job costing, time tracking, and purchase order management. Xero, on the other hand, has more robust inventory management and reporting features. Additionally, QuickBooks offers a payroll service while Xero does not. Both software also offer integrations with popular apps such as PayPal and Square.

Pros and Cons:

QuickBooks has a large user base and offers a wide range of features, making it a great option for businesses of all sizes. Additionally, it offers a payroll service, which is a great benefit for businesses with employees. However, it can be difficult to navigate the software, especially for new users. Xero has a user-friendly interface and offers more robust inventory management and reporting features. However, it does not offer a payroll service, which may be a disadvantage for some businesses.

Pricing:

QuickBooks offers a range of pricing plans, starting at $5.10 per month for the Simple Start plan and going up to $10.80 per month for the Plus plan. Xero offers a similar range of pricing plans, starting at $13 per month for the Early plan and going up to $70 per month for the Established plan. The cost of implementation for 1 user is similar for both software, but as the number of users increases, the cost of QuickBooks becomes more expensive.

User Interface:

QuickBooks has a more traditional interface, while Xero has a more modern, streamlined interface. Both software offer desktop and mobile interfaces, but Xero's mobile interface is more user-friendly.

Integration:

QuickBooks offers a wide range of integrations, including popular apps such as PayPal and Square. Xero also offers a range of integrations, including popular apps such as Stripe and Shopify. Both software offer integrations with a variety of apps, but QuickBooks has more integrations overall.

Scalability:

Both QuickBooks and Xero can scale to serve a large number of users, but QuickBooks can handle more users overall.

Security:

Both software have similar security features such as data encryption and two-factor authentication. QuickBooks has received security awards, but Xero has not.

Reporting and Analytics:

QuickBooks offers a wide range of reports, but some users find the interface difficult to navigate. Xero offers more robust reporting and analytics features, but some users find it difficult to customize reports. Both software have similar reporting capabilities, but Xero has more advanced analytics features.

Support and Maintenance:

QuickBooks offers support through phone, email and chat. They also have a range of resources such as documentation and tutorials. Xero also offers support through phone, email and chat, as well as a range of resources such as documentation and tutorials. Both software have similar support and maintenance options, but Xero's support is generally considered to be better.

Training and Implementation:

Both QuickBooks and Xero offer training and implementation services, but the cost and duration can vary. QuickBooks may take longer to implement and may require more IT support. Xero is generally considered to be easier to implement and may require less IT support.

Flexibility:

Both QuickBooks and Xero support growth, but QuickBooks can handle more users overall.

Data Migration:

Both QuickBooks and Xero offer assistance or tools for data migration, but the process can be difficult. QuickBooks may require more IT support to migrate data.

Mobile Access:

Both QuickBooks and Xero have mobile applications, but Xero's mobile application has a more user-friendly interface. Both software offer similar features on their mobile apps, such as the ability to create and send invoices and view financial reports.

Cloud-based or On-Premise:

Both QuickBooks and Xero are cloud-based software, meaning they can be accessed from anywhere with an internet connection. This allows for greater flexibility and collaboration among team members.

Vendor Reputation:

QuickBooks was first launched in 1983 and has a large user base and a strong reputation in the industry. Xero was first launched in 2006 and also has a large user base and a strong reputation in the industry. Both software are well-established and have a good reputation in the industry.

Industry Certifications:

QuickBooks has received industry certifications such as the CPA Practice Advisor Technology Innovations Award. Xero has received industry certifications such as the AICPA's SOC 2 Type 2 certification. Both software have received multiple industry certifications, but QuickBooks has more awards.

User Reviews:

QuickBooks has generally positive reviews, with users praising its wide range of features and payroll service. However, some users find the interface difficult to navigate. Xero also has generally positive reviews, with users praising its user-friendly interface and robust inventory management and reporting features. However, some users find it difficult to customize reports. Both software have generally positive reviews, but Xero has a higher user sentiment score.

Technical Requirements:

Both QuickBooks and Xero have minimal technical requirements and can run on most computers. However, QuickBooks may require more IT support to run smoothly.

Implementation Timeline:

The implementation timeline for both QuickBooks and Xero can vary, but on average it takes around 6-8 weeks. Both software offer implementation support, but the cost and duration can vary.

Vendor Stability and Compliance:

Both QuickBooks and Xero are well-established software with a good reputation in the industry. Both software are compliant with industry standards and regulations.

In summary, both QuickBooks and Xero are accounting software designed for small and medium-sized businesses. Both software offer similar functionality such as invoicing, expense tracking, and inventory management. QuickBooks has more advanced features such as job costing, time tracking, and purchase order management, while Xero has more robust inventory management and reporting features. 



QuickBooks

ITQlick rating
(5/5)

starts at $15 per month

Quickbooks is a cloud-based accounting software designed for self-employed and small businesses. The solution helps the user manage all their finances with either an online version or licensed.

Categories: Accounting & Finance, Billing & Invoicing, Core Accounting, Medical Accounting.

Xero

ITQlick rating
(4.3/5)

starts at $12 per month

Xero is a cloud-based accounting and finance software for small, start-up, and growing enterprises. It has invoice management, purchasing, bank reconciliation, and bookkeeping features which help businesses boo...

Categories: Accounting & Finance, Fixed Asset Management, Recurring Billing, Billing & Invoicing, Budgeting & CPM.

Compare specifications

Compare features

QuickBooks: 15 Features

Accounts Payable
Accounts Receivable
Audit Trail
Balance Sheet
Billing & Invoicing
Check Printing
Credit Card Processing
General-Ledger
P&L Statement
Purchase Orders
Sales Reporting
Time & Expense
Invoice Scheduling
Invoice Templates
Time and Expense Tracking

Xero: 13 Features

Accounts Payable
Accounts Receivable
Billing & Invoicing
Budgeting & Forecasting
Fixed-Assets
Purchase Orders
Data Analysis Tools
Forecasting
Fixed Asset Management
Inventory Optimization
Supplier Management
Warehouse Management
Inventory Management
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick score ITQlick Score is a 1 to 100, the calculation is based on pricing, and functionality Vs. alternative solutions
Pricing score pricing Score is a 1 to 10 (10 is high cost), based on the TCO (cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
License pricing license pricing (if provided by the software vendor)
Functionality score
Software review
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QuickBooks
ITQlick rating
5/5
Score
87/100
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3.2/10
License pricing
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20
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Xero
ITQlick rating
4.3/5
Score
94/100
Pricing
2/10
License pricing
$12 per month
Functionality
46
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Auditor - Shlomi Lavi

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Shlomi Lavi is an entrepreneur and founder of ITQlick.com. He holds a Bachelor of Science (B.Sc.) in Information Systems Engineering from Ben Gurion University in Israel. Shlomi brings 17 years of global IT and IS management experience as a consultant and implementation expert for small, medium and large-sized (global) companies. Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business.