However, the layout and navigation may not be as intuitive for some users, especially those who are new to accounting software. Seamlessly connect QuickBooks to your favorite apps and tools, creating a unified hub for your business operations. From CRM systems to payment processors, QuickBooks integrates with a wide range of popular platforms, saving you time and effort. QuickBooks also offers Payroll, but this service is an additional fee starting at $45 to $125 per month.
Finally, they are awarded points based on the ease with which users will find assistance from independent bookkeepers with expertise in the platform. The A/P section focuses on vendor management, bill management, bill payments, and other payable-related transactions. A/P features include creating vendors and bills, recording purchase orders and converting them to bills, creating service items, and recording full or partial bill payments. However, we want to emphasize that Xero offers fixed asset accounting in all its plans, making it accounts receivable collection an affordable QuickBooks alternative for fixed asset management.
Best Accounting and Bookkeeping Apps for Small Businesses
Other standard features include one-click payments, recurring payment invoices, adding billable hours to invoices and converting estimates into invoices. QuickBooks has long been the gold standard among small business accounting platforms. Although it’s not the only accounting software we recommend, it’s a great choice for any small business.
Fit Small Business Case Study
- Can support larger small businesses with dozens of employees; highest-tier plan includes 25 users.
- These integrations including PayPal, TSheets, Bill Pay for QuickBooks Online, and Stripe, with apps available for inventory, payroll, CRM, and time tracking.
- However, Xero provides the unique ability to reimburse employee expenses, including mileage reimbursement.
- You can add your logo to your invoice templates, and change the color to fit your business’s branding.
Its more complex interface and higher learning curve make it best suited to those with accounting experience or who are willing to hire an experienced accountant. Most bookkeepers are familiar with QuickBooks software, so finding someone to assist with your accounting needs is easy. Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services.
Xero Pricing
Both Xero and QuickBooks Online offer excellent integration with hundreds of apps. For those moving their small business’ accounting difference between standard deduction and itemized deduction over from another application, you can import data into QuickBooks Online using the Import Data function. Xero’s main entry screen uses a menu bar at the top of the screen for access to system functions. This pared-down menu makes it easy for new users to find their way around the application without too much trouble.
QuickBooks Online outclasses Xero in this category as it offers more useful features that aid in setting up the software. Xero took a hit for its lack of assisted onboarding support and new company wizard, but it does offer the ability to import beginning balances—a feature that QuickBooks Online lacks. Both have great A/P features, but QuickBooks Online is slightly better due to its ability to generate recurring payments. Xero lets you create a recurring bill but not the payment, which means it doesn’t charge your checking account automatically.
Can you use Xero to track inventory?
The bank reconciliation module must also let users reconcile accounts with or without bank feeds for optimal ease of use. Unlike QuickBooks, Xero supports unlimited users and organizations for all accounts. It also offers a 30-day free trial so you can test drive the software before committing to a paid plan. Quickbooks is a more scalable solution than Xero regarding bills and monthly invoices, which are unlimited in all plans.
The more expensive QuickBooks plans include additional features and users. Xero offers three pricing plans that range from $15/month to $78/month. This cloud-based solution also supports cash-basis and accrual accounting methods and uses double-entry accounting. It has solid mobile apps, and it has a large number of integrations, although it falls a bit short of Xero. QuickBooks and Xero are both popular accounting software options for small businesses, but burn rate calculator: calculate your burn rate and startup runway which one is right for you? Here, we break down the key differences in features, benefits, and pricing to help you choose the platform that best suits your business needs and budget.
