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Quickbooks vs Xero vs Freshbooks … which one should you use?
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As we all know, accounting and bookkeeping play an important role in gradually boosting business growth. Keeping track of all the accounts is really a tedious and tiresome task. So it really takes an hour to use accounting software. In this article, we’ll take a look at an unbiased comparison between three of the most popular accounting software, Freshbooks, Quickbooks, and Xero. All three softwares are perfect for all your accounting needs. As a small business owner or entrepreneur, dealing with spreadsheets and mundane calculations related to time and billing details is now a thing of the past. With this accounting software, you can now send invoices and invoice details almost easily. All the accounting and tracking of wins/losses can end up hindering or hindering your streamlined business processes. Additionally, you can integrate business automation capabilities. So, in this post, we’ll take a head-to-head comparison of each accounting software based on unique features and other important factors.
What Are These Accounting Software (Freshbooks , Quickbooks , Xero and Zipbooks) ?
Today , we have four major accounting software present in the market i.e. Freshbooks , Quickbooks , Xero and Zipbooks . So we will look into this one by one . If you are self-employed or own a team of professionals, now you just have to sit back and take rest without hitting your head against the wall anymore (for the complex accounting calculations) . With this software you can easily manage all the balance sheets and tax calculations in one place without much headache and worries . If you don’t want to use these tools , then you can easily manage your accounts by hiring an in house accountant (who in turn use complex spreadsheets and excel data) . By using the accounting software, you can eliminate the inclusion of a mdleman and can handle all the things on your own. In the nutshell , you are saving time and money completely . So without wasting further time , let’s start digging in detail for each of this software. We will compare each by consering some basic points for each of these i.e 1. Simplicity and efficiency 2. Economical in use (Pricing) 3. Dashboard Functionalities 4. Support and Tool Review 5. Features List So we gonna compare each of the accounting tool i.e Quickbooks , Freshbooks , Xero and Zipbooks based on the above factors in detail . So have a cup of coffee and keep reading .
Freshbooks vs Quickbooks vs Xero – An Honest Comparison Only For You
So now we can start the main topic of this post that is the main differences between the popular accounting software. So now we will start with our first point that is the ease of use . Let’s start. 1. Simplicity and User Friendliness In this category , we can easily say that the Freashbooks software nails it completely . We indeed appreciate the Freshbook’s simplicity and intuitive UI design. There are many tips you get in your help . Further, the setup is also not so tedious and complex. You can get many walkthroughs in Freshbooks tool , also the usage is pretty straightforward as compared to the Quickbooks and Xero . Both of the software i.e. Quickbooks and Xero need some time to get used to its many useful (yet complex ) features as a whole. Also you can easily import data in the form of spreadsheets from other accounting tool or normally saved documents easily into your Freshbooks tool . For this, you may take the help of the available spreadsheet templates in place without much difficulty . Now regarding the Quickbooks tool , it is not much user friendly and you may have to spend some extra time and efforts in order to get accustomed to the features it offers . Overall we can say it is in the mway between simplicity and complexity rating for the ease of use category . Don’t be afra of the complexity Quickbooks have , you may get the quality features in this (by proving some extra efforts). Also, there are many help videos present which you use right away to clear your doubts (if any) . This is also greatly customizable . Here also you can get the importing options and also for large data sheets you have to integrate some other tools with it . Also if you are not an accountant then probably you may find this difficult initially . But in the long term, this tool indeed proves some cool accounting features those are missing in another tool no doubt . Now regarding the Xero tool , you can take help from the setup wizard easily. Further it is worth mentioning that this tool is the most complex in terms of installation and use . Also, there are many available spreadsheets templates you can use . You can upload any amount of data for the invoices and customers easily in your Xero tool . Also, there are many unique features proved by this beast apart from the normal ones for all your accounting needs . Xero is definitely the choice if you want to do full in-depth accounting , but the initial learning curve may dampen your spirit to some extent . It is truly web-based software , but it has a few lagging issues (sometimes) . Additionally it offers necessary instructions for importing the excel sheets and also for converting from the Quickbooks to Xero platform . 2. Economical In Use – Pricing This category is the main decing criteria for any small entrepreneurs and business owners who are much serious about their single penny spent . So let’s see how these tools go against each other . The invoicing of Freshbooks is based on the number of clients you want to bill . So as the clients increase, you have to further upgrade your Freshbooks plan. Like others, it offers 30 days free trial . The premium plan is for those who have more than 50 billable clients each month . Also extra 10 percent off if you pay annually (and not monthly) . Check pricing here . In Quickbooks we have pricing based on the number of users and the feature you want to use . The best part here is that you will get 50 percent off for the initial three months . These plans differ based on the features you’ll need access to and the number of users you want to give access to your account. In general, the smaller your operation and the fewer employees you have, the cheaper the plan you’ll want to get. Check pricing here . For the self-employed plan , you can start from as low as 10$ a month , ad also you can get many normal accounting features with it . So if you are freelancer then go ahead and try this plan right away . Now comes the Xero accounting tool , the pricing here based on the number of employees on payroll . It also proves almost the same feature for all the plans but instead, it enforces the limitation on the number of employees in payroll . Like others , it also offers 30-day free trial for you . So you may dece whether it will suit you or not without giving your credit card details. Check pricing here . The starter plan is for 9$ per month , with this you can send upto 5 invoices and quotes . The premium plan is for 180$ per month , supports 100 people in payroll, and also supports the multi-currency features . 3. Dashboard Features And User Interface When we talks about the dashboard UI , we have a look into all the usability checkpoints in each of these . The UI asthetics and intuitive design plays a major role here . So lets start the comparison now . So first we will explore the Freshbook Software . Its dashboard is pretty simple and feature rich . It has all the required navigation links in the dashboard itself . You can view the important reports here and also clearly the five charts namely outstanding revenue, total profit, revenue streams, spending, and unbilled time . Moreover you can not expect a detailed view in the dashboard , but anyways you can easily get a sneak-peek into each of the charts in the dashboard here . Freshbooks application is very much customizable , right from the logo , you can even change the font and colour . Further there is an option to run the reports like the profit/loss reports , tax summaries, and many more . (if you are premium user then you can get additional reports here ) . One of the top features I like personally is the autosave feature with which , you don’t need to fill the invoices each time for any returning client . The same goes for the report . Also you can directly link your bank account with the Freshbooks software , such that you and your teammates keep track of all the expenses for you easily in one place. Overall we can quote that Freshbook gives a minimal interface in a way such that it makes the complete complex accounting process easy even for a novice there . Now we should focus on the Quickbooks application . Before proceeding further , it is worth mentioning that the Quickbooks is not very user friendly. You should know some basics of the accounting subject . But as sa earlier , Quickbooks offers a hell lot of more unique features as compared t the Freshbooks software . In the dashboard itself, you can track your current stock levels, organize payroll, or create budgets to follow . This basically turns the Quickbooks application a true accounting tool rather than a mere invoicing and billing application . Also it is not so much customizable as the Freshbooks tool . In the dashboard itself, you can see the details regarding the tax , profit/loss , expenses and all the required reports you want . There are dozens of different reports in the categories of Sales, Customers, Accounts Due, Payroll, Expenses, and a variety of others. You can even share the details and also manage the customizable reports . Also you can get option to customize any reports after running them . A note of caution is , if you are a beginner , then don’t panic , relax and go through the video tutorials , and hopefully you can get into this software . Now let us see the UI of the Xero tool . The features proved are almost similar to the Quickbooks application . You can track the expenses , profit/loss sheets , various client reports etc . You can also view the balances and dues (invoices) in the dashboard itself . The unique praiseworthy feature that Xero offers is the business performance tracker in the dashboard . You can use it to view the debt ratio, gross profit percentage, current liabilities to net worth ratio, and many more . You can get all the details in the form of detailed charts and reports . 4. Support And popularity (based on user reviews) Whenever we want to shell out our hard-earned money , it is indeed imperative to check out for the user support and help features . The customer support person should help us in clarifying our doubts . Further the support associate is expected to know the application feature in-depth , then only he/she can help/gue us in our doubts . So let’s see who is the king in this category . At first, we have the Freshbooks software , so to test this we personally contacted the customer support representatives . Then we asked our query to them , the technical person initially took some time ,but eventually replied with extreme politeness that they don’t have the solution . He then replied by giving us some useful links and video tutorials and told us to go through them . Overall we had a satisfactory experience from the Freshbooks customer support service . Of course they dn’t reply to our query but the manner in which they gued us was so pleasant . Thus it was due to their behaviour , we are giving them the desired appreciation . Freshbooks is a highly rated application among the users . One major complaint reported is for the crashing issue . It has been noted that the mobile app crashes a lot than the desktop version of the application .Also the Freshbook team do reply to user’s complaints on a regular basis . Now secondly , we have the Quickbooks software . In this also we personally tried the customer support feature . We tried calling them , but most of the time it was busy . So little disappointment there . Then we mailed them with our issue . We got a reply few times later . But the reply was great and detailed explanation . It was completely enough to clarify our doubt and issues . Mostly Quickbooks receives positive reviews and it replies back for the handful of negative reviews . Also, one major issue noted is related to their phone support . Users say that most of the time the waiting time is insane and quite a difficult application to use for a beginner at first . Now finally comes the Xero applications customer service support . As compared to other two , we must say that the Xero customer support is not that great . It is not the worst either . We can basically say that Xero’s support personnel are not that great technically and behavior is not as polite as the other two . The reply was fast but a little clumsy . It was not that simple and straight forward (as it should be). Again for this mostly positive reviews and some for the limitations . Some complained about the steep initial learning curve for any beginner to start with . Also the mobile users reported the discontent for the crashing issues and lack of proper customer support . Features List – The Main Decer !! So here we will evaluate the three on the basis of the main decing feature list . Again for our simplicity, we will dive this category into small modules to look deeper into each one of these separately . So our main focus will be on the feature namely : Payroll. Tax management. Inventory management. Expenses tracking. Payments (includes invoicing). So let’s start with the first point i.e. payroll . Payroll is indeed an essential feature if you are managing a team of employees in your business . So since you need to pay them salary , which means you have to keep track of the leave request, the tax liabilities, and various other things related to the employee payrolls . So managing the payroll accounting for all the employees will be a huge task for you. In this case, you may use the accounting software to do so for you . This will be very convenient and efficient also . So Freshbooks doesn’t support anything like this sort of . So a big limitation for the Freshbooks application . Also, Quickbooks offers this functionality with some extra price. Xero do support this feature but it is place specific. There is an option for payroll in terms of electronic transfer and the paper checks as well . This further depends on the place you are using for . Tax Management : Taxation is a really headache for many . But with these smart accounting software , it will be far more easier . With Freshbooks , you can directly connect to the accountant . But there are no integration services proved for direct filling of any taxes , So again a limitation . Quickbooks do offer tax management services by directly integrating with the Turbotax module . You need to set the sales tax and custom tax rates and it will directly calculate the tax rates based upon the jurisdiction and required tax rates . You may further access the various tax reports in Quickbooks . Xero also integrates directly with the Avalara . It will update the tax rates and give tax values based upon the jurisdiction and you can get a sales tax summary and audit report with just a few clicks . You can also access the tax reports almost instantly . Inventory management : This is also a useful feature if you are managing any kind of inventory in your business . So if you are handling a large amount of inventory then you may use your accounting software to use the functionality of the inventory tracking efficiently . Freshbooks doesn’t support any such feature for inventory management , but it does offer the integration service , using which you can integrate your Freshbooks tool with some other inventory tracking tool . With a QuickBooks Online Plus subscription, you can create custom categories and subcategories, track quantities on hand. You can easily import the inventory spreadsheets and use it to generate the inventory reports . Finally again Xero is the winner . It has a well defined inventory tracking and management module . All your inventory details are available while preparing the invoices and details can be easily integrated . You may even import the inventory details from some other inventory tracking tool here. You can even mark tax rates and keep them as unsold inventory if you are not selling them . Expenses Tracking : While running a business , expenses are the major concern and it has to be managed carefully . Your accounting tool must allow you to pay directly the expense from the software itself after integrating it with the bank account. Freshbooks allow very simple interface for the same . You have to first choose the vendor in new expense , then give cost , expense, and done. Then you have to save it and you can even track it to see where the money is going . Quickbooks is also offering a similar feature . You need to give the payee name , amount, and finally save it . Then yselect the bank account to pay the required amount . You can further print checks from with in the tool . Xero also offers similar services , additionally it offers the integration service with the bill.com , from where you may directly process the payments . You can even pay by the bank transfer option . Moreover there is an option for the approval workflow for expenses, allowing the supervisors or any managers to keep an eye on how the employees are spending money . Payments And Invoicing This is the most basic feature every accounting software should prove . The tool should create and send the payments and invoices efficiently. It should also process payments by using credit cards and other payment options. Freshbooks improvises the most basic functionality of invoicing without much customization available (unlike Xero and Quuickbooks) . There are already the sample templates present , you can further customize color, fonts, and change the email contents etc . It offers this feature in the most simple manner . Quickbooks offers one of its kind card reader services . Thus you need not use any other payment service . It offers more customizable options than Freshbooks . It also integrates with QuickBooks’ inventory options and a basic dashboard that shows you where your money is. And customers can pay directly from your invoices by credit card. Xero is known for its extreme levels of customization offers present . You can design your invoices ad save up to 15 different templates in your account. Further you can integrate the invoice with the useful inventory tracking module seen above . The unique feature it proves is the approval workflow . This is mainly useful for the company having a hierarchical supervision structure . If you don’t need an approval workflow, then you can just click approve from the invoice screen instead of Save. .
Freshbooks vs Quickbooks vs Xero – The Final Words !!
Now you really want to know the winner. So let’s announce the winner’s name. The winner is three. Yes, each of them can be used for indivual needs as described below: 1. Freshbooks is more suitable for small businesses that mainly deal with invoicing and do not need the full accounting functionality offered by other competitors in the market. 2. Quickbooks are for SMEs that are scaling up and need better tax management (with the help of the Turbotax tool). It also proves a card reader, so no other payment services are required. 3. In our opinion, Xero is a complete accounting suite, but for any beginner, it may be difficult to understand at first, but eventually with some video tutorials, you will start to experience its true magic. It’s a complete package for your accounting needs, proving all the essentials you need to thrive in your business. Worth mentioning are the inventory tracking, approval workflow, and payroll features. It basically proves everything you need in the field of accounting. Also, it is a bit more expensive than others. I hope you really enjoyed this long article. Let me know your picks in the comments section below. Stay tuned..report this ad
Do accountants prefer QuickBooks or XERO?
Xero and QuickBooks Online are both powerful accounting software solutions for small businesses. However, when you compare features, QuickBooks Online is the stronger candidate, especially for business owners who prioritize scalability and the ability to loop in accountants.
Is QuickBooks widely used?
Intuit’s QuickBooks Online has been one of the most common accounting softwares used by small businesses and their bookkeeping and tax professionals.
What is better than Xero?
In Summary: The Best Xero Competitors
QuickBooks Online: Best overall Xero alternative. QuickBooks Desktop Pro: Best locally-installed Xero alternative. FINSYNC: Best for cash flow management. Sage Business Cloud Accounting: Best for usability and affordability.
Is QuickBooks as good as an accountant?
The great advantage of using accounting software like QuickBooks is that it makes it easy to stay on top of your business finances. However, expert accounting help is still advisable for most businesses. Why? To get peace of mind from someone who understands tax and accounting regulations inside-out.
Can I move from QuickBooks to Xero?
You can’t add your Quickbooks data to an existing Xero organization. You’ll need to create a new organization before you can upload your file. Conversion and organization setup typically happens in three hours, but may take up to a few business days (depending on how much data you’re converting).
Is Xero a threat to QuickBooks?
Xero (and similar competitors) are very similar to QuickBooks in their business proposition and customerofferings which make them a potent threat to QuickBooks.
Which system of accounting is most widely used?
The double entry system is the one widely used and recognized in the accounting world. Some salient features of this system are, All three types of accounts are maintained in this system – real, nominal and personal.
Which accounting software is used most?
Quickbook. Quickbooks from Intuit is the most widely used accounting platform in the World. Quickbook launched its Indian version in 2012. Indian version is still available in online mode only.
What are the 3 accounting systems?
A business must use three separate types of accounting to track its income and expenses most efficiently. These include cost, managerial, and financial accounting, each of which we explore below.
How many transactions can Xero handle?
Xero is designed for volumes of up to around 2,000 bank transactions per month, also dependent on the frequency of transactions during the month and variability of transaction values.
Is Xero similar to Sage?
At the entry level for financial software for small businesses both Xero and Sage are very similar in features and functionality. Both accounts packages are available online via the Cloud and have a large number of small business users in the UK.
Who are Xeros competitors?
- QuickBooks Online.
- QuickBooks Desktop Pro.
- Sage Intacct.
- FinancialForce Financial Management ERP.
- Microsoft Dynamics GP.
Should I use FreshBooks?
Who is FreshBooks Best For? Although it’s used by many small business owners, FreshBooks seems to have a special appeal where freelancers, sole proprietors, and project-oriented businesses are concerned. If you are a one-person show and don’t pay employees, FreshBooks could be a good fit for your business.
Do bookkeepers use QuickBooks?
Many bookkeepers use accounting software such as QuickBooks Online to help them with their tasks. Your bookkeeper can also handle things such as: Generating invoices for customers. Collecting payments from customers.
Do you need an accountant with Xero?
Xero is nothing more than smart bookkeeping software. There’s a little Artificial Intelligence (AI) built in but it’s cursory – the tax features are very limited to the extent that you still need an accountant to help you out at year end.
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