Compare Receipt Bank vs Xero

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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)
Hosting
Functionality score
Fit small business
Fit medium business
Fit large business
Software review
Compare
Receipt
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
85/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
6/10
License pricing license pricing (if provided by the software vendor)
$10 per user/month
Hosting
NA
Functionality score
6
Fit small business
Fit medium business
Fit large business
Software review
Xero
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
94/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
2/10
License pricing license pricing (if provided by the software vendor)
$27.50 per month
Hosting
On premise and Cloud
Functionality score
46
Fit small business
Fit medium business
Fit large business
Software review
QuickBooks
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
99/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
5/10
License pricing license pricing (if provided by the software vendor)
$12.95 per month
Hosting
Cloud
Functionality score
7
Fit small business
Fit medium business
Fit large business
Software review
QuickBooks
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
97/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
3.2/10
License pricing license pricing (if provided by the software vendor)
$17.50 per month
Hosting
On premise and Cloud
Functionality score
20
Fit small business
Fit medium business
Fit large business
Software review
Wave
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
97/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
5.6/10
License pricing license pricing (if provided by the software vendor)
$20 per month
Hosting
Cloud
Functionality score
8
Fit small business
Fit medium business
Fit large business
Software review

Receipt Bank Vs. Xero: Which is better?

Shlomi Lavi / Feb 02, 2020

Looking for the right Core Accounting solution for your business? buyers like you are primarily concerned about the real total implementation cost (TCO), full list of features, vendor reliability, user reviews, pros and cons. in this article we compare between the 2 software products:

Vendor comparison

Receipt Bank: Receipt Bank converts those annoying bits of paper - receipts and invoices - into data you, and your company, can use!Receipt Bank’s aim is to remove the burden that receipts and invoices place on small businesses. Working with bookkeepers, accountants and with small businesses directly, Receipt Bank has developed its software and service to make the gathering, storage and processing of receipts and invoices as easy and as cost effective as possible. Founded in 2010, our award-winning service is used by accountants and bookkeepers around the world to improve their efficiency and to improve the service they can offer their clients. Receipt Bank integrates directly with the leading bookkeeping software packages and with other software that help us in our mission – to free small businesses from the data entry of receipts and invoices!

Xero : Xero was founded in July 2006 by successful technology entrepreneur Rod Drury and specialist small business accountant Hamish Edwards. Xero is listed on the New Zealand Stock Exchange and the Australian Securities Exchange and is a fast growing company with teams in Wellington, Auckland, Melbourne, Sydney, Brisbane, San Francisco, and Milton Keynes (UK). 

Pricing/cost comparison

The real cost of Core Accounting software includes the software license, subscription fees, software training cost, customization cost, required hardware, and the cost of maintenance & support and other related services. It's critical that you account for all of these costs to gain an understanding of the system's "total cost of ownership". We prepared a total cost calculator for Receipt Bank TCO and Xero total cost to help with the total cost of ownership calculation.

Receipt Bank price Starting from $10 per user/month , on a scale between 1 to 10 Receipt Bank is rated 6, which is similar to the average cost of Core Accounting software. Xero price Starting from $27.50 per month , when comparing Xero to their competitors, the software is rated 2 - much lower than the average Core Accounting software cost.

Bottom line: Receipt Bank is more expensive than Xero.

Features and functionality

As with any business software solutions, it’s important to consider the features & functionality. The tool should support the processes, workflows, reports and needs that matter to your team. To help you evaluate this, we've compared Receipt Bank Vs. Xero based on some of the most important and required Core Accounting features.
Receipt Bank: Data Import/Export, Basic Reports, Online Customer Support, ..
Xero list of features include the following: Accounts Payable, Accounts Receivable, Billing & Invoicing, Budgeting & Forecasting, Fixed-Assets, .

Target customer size

Customers of the software mainly come from small and medium businesses, although there is no restriction of industrial affiliation. Xero is best for small businesses, freelancers and non-profit organizations.

Receipt Bank

ITQlick rating
(4.1/5)

Starting from $10 per user/month

Receipt Bank is a cloud-based accounting solution that is designed to assist in bookkeeping as well as billing and invoicing. The software solution promotes paperless bookkeeping by connecting the accountants a...

Categories: Billing & Invoicing, Compliance , Procurement.

Xero

ITQlick rating
(4.3/5)

Starting from $27.50 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.

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Compare specifications

Receipt Bank Specifications

Name: Receipt Bank
Company: Receipt Bank
Address Thurloe Street, London, United Kingdom
Website:https://www.receipt-bank.com/uk/
Platforms: Desktop, Mobile

Xero Specifications

Name: Xero
Company: Xero
Address Xero Accounting Software, Wellington, New Zealand
Website:https://www.xero.com/us/
Platforms: Desktop, Mobile, Cloud

Compare features

Receipt Bank: 3 Features

Data Import/Export
Basic Reports
Online Customer Support

Xero: 8 Features

Accounts Payable
Accounts Receivable
Billing & Invoicing
Budgeting & Forecasting
Fixed-Assets
Purchase Orders
Data Analysis Tools
Forecasting