Both Xero and Quickbooks integrated with Wise which means that you can use your Wise multi-currency account to automate international transactions and sync them to your accounting records. Every business needs a good system for its accounts, from the smallest startup to the biggest multinational − not to mention freelancers. You can get started with QuickBooks Online from $25 per month as the lowest of three price plans.
First, QuickBooks has phone support while Xero does not, so QuickBooks users can solve their problems that much faster. Second, QuickBooks offers some features that Xero doesn’t have, like document scanning. That said, Xero has a lower price point, starting at $13 per month, compared to QuickBooks’ $30 per month starting cost, and Xero offers more integrations than QuickBooks as well. 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.
QuickBooks Online is full-featured accounting software that is easy to use, even if you’re new to accounting. In addition to the standard accounting features you’d expect, QuickBooks Online also has advanced features, exceptional invoicing automatizations and customizations, and built-in lending. It also has mobile apps that, according to users, outperform other popular accounting software apps. Xero also allows you to create quotes, send invoices and enter bills, and you can accept online payments by credit card, debit card, direct debit, Apple Pay, Google Pay, Stripe and GoCardless. You can also sync your bank accounts for automatic tracking and reconciliation. However, keep in mind that the entry-level Early plan only supports 20 invoices and five bills per month, so if you regularly exceed that, then you’ll need to upgrade.
On the other hand, Xero may be the better choice for your business. Xero is strong accounting software that has everything you need to track the financials of your business. Some of its features really stand out, such as its customer management system.
This is because QuickBooks only allows up to 40 users for its highest-tiered plan, and even then, some plans require every user to pay for their own account. Xero is ideal for businesses that keep a team of bookkeepers or accountants in-house. SummaryThere’s a lot to think about when comparing and choosing accounting software for your business, and not only the monthly cost.
Premium includes scheduling for jobs and shifts, real-time reporting, custom alerts, and time-off management. The base fee for both plans is half off for the first three months. Xero and QuickBooks Online are both powerful accounting software solutions for small businesses. However, when you compare features, QuickBooks Online inches ahead for its stronger feature set, ease of sharing with accounting for acquired goodwill accountants and customer support. Xero is more affordable and scalable than QuickBooks since all subscriptions have unlimited users.
QuickBooks Online has four pricing plans ranging from $35/month to $235/month. The more expensive QuickBooks plans include additional features and users. Xero does not offer built-in payroll but partners with Gusto, which has plans starting at $40/month plus $6/month per employee. There is no built-in payment processing, although you can choose from several options including Stripe and GoCardless. Xero offers three pricing plans that range from $15/month to $78/month.
