All three plans have optional add-ons for an extra cost, such as Payroll from an additional £5 a month. All your data is automatically backed up to the cloud and synced across all your devices, so any changes made on the move will be updated when you next login in your laptop or desktop. This includes snapping pictures of your receipts and uploading them via your phone. QuickBooks Online is an offshoot of Intuit’s general desktop-based accounting software QuickBooks. All plans also include receipt capture, expert support, and out-of-the-box integrations. For companies that need more than the standard Xero and QBO reporting can offer, they can make use of add-ons and integrations with both apps.
This could be a real shortcoming for small online retail businesses, for instance, that need to keep track of their products and the materials used to make them. All of Xero’s plans come with inventory management so business owners can track what’s in stock and which products are selling. If snapping photos of receipts to claim expenses on the go is a key mobile feature you’d like to have, regardless of plan level, QuickBooks Online might be a better fit. Ease of use gets the highest weight in this case study because we want to give more credit to easy accounting software. For this section, we considered customer service, support network, and a subjective expert opinion score.
Best Accounting Software for Small Businesses of 2024
QuickBooks has earned the trust of millions of small businesses due to its robust features and user-friendly design. The platform offers a comprehensive range of accounting tools, from invoicing and expense tracking to payroll and inventory management. Its intuitive interface and extensive customer support make it accessible to business owners with varying levels of what is balance sheet reconciliation accounting knowledge.
Payroll
To compare QuickBooks vs. Xero accounting, we consulted product documentation and user reviews. We considered features such as invoicing, billing, payments, expense tracking, mileage tracking, project and time tracking and inventory management. We also weighed factors such as pricing, user experience, customer service and integrations. QuickBooks Online has a range of product tiers to meet your business’s bookkeeping needs. The QuickBooks Online base plan starts at $35 per month, and the plan with the most features is $235 per month. Intuit offers prospective users a free 30-day trial and generous discounts on their monthly subscriptions.
QuickBooks Online vs. Xero: Which Software Is Better for Your Business in 2024?
- We also weighed factors such as pricing, user experience, customer service and integrations.
- For freelancers and other small businesses that want all of the key features of accounting software at a budget, QuickBooks is a great choice.
- FreshBooks is one such option that has gained popularity in recent years.
Can support larger small businesses with dozens of employees; highest-tier plan includes 25 users. We believe everyone should be able to make financial decisions with confidence. Xero and QuickBooks Online are robust accounting software programs, and—in our case study—both prove why they’re the leading tools in the industry. They may have almost the same features, but each has its own strengths and drawbacks. The software must also have a mobile app to enable users to perform accounting tasks even when away from their laptops or desktops.
Xero vs QuickBooks: Which Is Right For Your Business in 2024?
Most bookkeepers are familiar with QuickBooks software, so finding someone to assist with your accounting needs is easy. QBO also has a handful of features you generally don’t see with accounting software, including its QuickBooks Capital lending platform and QuickBooks Checking business banking account. Both offer great accounting features and integrations, but which one is better for small businesses? With a research score of 5/5 for software attributes and 5/5 for its accounts receivable features, the complimentary software gives Quickbooks and Xero a run for their money too.
Video training courses, a blog, and a community forum are also available. Neither QuickBooks or Xero offers a permanent free plan, but if that’s what you need, we have a guide to the best free accounting software. Both QuickBooks and Xero offer tax preparation features, and that feature is just one reason why our researchers gave both services a perfect 5/5 for financial reporting. Our research suggests that QuickBooks is better all-around than Xero, with a more advanced feature package, stronger support tools, and standout scanning capabilities.