Accounting Software Comparison: QuickBooks, Xero, Zoho Books, and More
Need better financial keeping? Don’t know which cloud accounting software to choose? The software that aligns with your business goals is the one you should proceed with. It will help your business automate and grow efficiently. Going beyond time and money savings, it modernizes tasks for a competitive edge.
So, if those are your needs, know what each accounting software brings to the table. A detailed accounting software comparison becomes necessary in this situation.
Pro Tip- Compare the software features given in this article with your goals as a foundation.
QuickBooks vs Xero vs Zoho vs Sage vs FreshBooks vs Wave are the core points of the article today. We’ll overview the pros, cons, and accounting software reviews– so you can make an intelligent choice!
QuickBooks Review: Pros, Cons, User Testimonials
QuickBooks software is a savior for several businesses in their growth stage. It provides a lengthy trial period and after that, offers affordable price plans. The interface of this application is very user-friendly, allowing smooth accounting automation. Small businesses will love this application because of its advanced features and easy-to-learn capabilities.
Features Of QuickBooks
While many features of QuickBooks vs Xero vs Zoho Books are similar, the highlights of QuickBooks are as follows:
Bill Management
Tracking bills and due dates is simple in QuickBooks. Setting reminders and organizing payments ensure you avoid penalties. Enhance your credibility with the bill management tools and approaches offered by QuickBooks.
Invoice Management
It’s easy to create and share invoices using QuickBooks functionalities. Automated and unique invoices enable faster payments, so your cash flow stays steady. It also helps you remind clients or follow up with them.
Expense Management
QuickBooks helps record and track your expenses, so you can monitor them properly. Budget better and keep your financial behavior in check this way.
Project Management
QuickBooks project management feature is a delight, helping you track project expenses and tasks. Differentiate accounting for each project separately, staying on top.
Tax Assistance
Depending on your country’s tax laws and your finances, QuickBooks prepares tax reports and estimates your liabilities. Throughout the year, you can calculate and at the year-end receive compliant and organized reports.
General Accounting
QuickBooks automates accounting operations like accounts payable, receivable, cash flow management, general ledger, purchasing, fixed asset management, collections, etc. These activities are simplified and made very efficient in the online accounting software.
Reports & Reconciliation
As one of the best accounting software for small businesses, QuickBooks prepares the key financial statements– reconciled and accurately maintained.
Integration
QuickBooks users can integrate with multiple payment gateways, sales tracking, inventory-related, and other e-commerce sites. In one place, you can handle everything related to your operations.
Pricing
QuickBooks pricing globally comes as follows:
| Plan | Price (Per Month) |
| Simple Start | $9.50 |
| Essentials | $14 |
| Plus | $20 |
| Advanced | $38 |
Pros & Cons Of QuickBooks
Here’s how QuickBooks vs Xero pros and cons compare– starting with QuickBooks:
| QuickBooks Pros | QuickBooks Cons |
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User Experience And Customer Support Reviews QuickBooks
Users report seamless experiences when using QuickBooks. The user-friendliness, easy navigation, and abundant features make it the best option. The app reports positive sentiments in the following areas:
- Comprehensive reporting
- Easy usage
- Extensive integrations
- Invoice management
However, there have been negative reviews regarding the subscription model, software performance, customer support, and limited features for large-scale firms.
Xero Review: Features, Merits, Demerits, Reviews
Xero Accounting software for small businesses is a one-stop website-based application for accounting solutions. The accounting burdens are reduced with the advanced technology used by this application. You can access the application from anywhere in the world, whether in another country or the comfort of your home. Xero covers you– from formulating invoices quickly to streamlining your cash flow.
Features Of Xero Accounting
The range of features Xero offers in comparison to QuickBooks, Zoho, and other applications are as follows:
Accept, Claim, Pay
Xero allows you to accept payments on time via credit/ debit cards or direct deposits. The expense management tools assist in handling spending, submitting, or reimbursing expense claims. Bill payments become streamlined and timely with in-depth cash flow and accounts payable overview.
Online Invoicing & Purchase Orders
Xero’s intuitive software helps send invoices, customize them, and automate reminders. It also creates, sends, tracks, and delivers digital purchase orders.
Bank Connections & App Integrations
Connect with your bank and save time accessing bank feeds and automating reconciliation. Better your business in the long run with app integrations and financial services of your choice.
Accounting Dashboard & Analytics
Cash flow, financial health, and metrics are clearly visible on the Xero accounting software. The accounting dashboard shows daily financial insights– bank balances, bills, invoices, etc.
Quotes, Inventory, Contacts
Instantly produce professional quotes to share online via the app or desktop software. Keep in touch with the stock levels using Xero’s inventory management capabilities. Organize customer or supplier details in one place with contact management.
Capture Data & Store Online
Capture data and get crucial document copies saved automatically in the software. The software offers online storage for documents, contracts, billing, and reporting management from anywhere.
Other Features
Xero provides reporting, payroll, project, multi-currency, and fixed asset management services— users can access them through the app or software.
Pricing
Xero accounting software pricing is comparatively affordable than its counterparts with plans as follows:
| Plans | Prices |
| Starter | $29 |
| Standard | $46 |
| Premium | $69 |
Pros & Cons Of Xero Accounting
Xero accounting shows up with the following pros and cons:
| Xero Accounting Pros | Xero Accounting Cons |
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User Experience & Customer Support Reviews Xero
User sentiments for Xero accounting software features and offerings are as follows:
- Automated but unreliable bank feeds
- Easy to use
- Many integrations
- Thorough reporting solutions
- Response times may be slow for support
- No phone support
- Limited user permissions
Zoho Books Review: Features, Pros & Cons, User Experience
Zoho Books is another leading cloud-based accounting software. It offers accounting solutions and interconnections with useful products. The affordable pricing makes it a favorite for small and medium enterprises. Many outsourcing companies use this to reduce your workload by automating repetitive features.
Features Of Zoho Books
Zoho Books vs QuickBooks accounting software features are given below:
Access From Any Device
Zoho Books is accessible through your phone, desktop, tablet, and even your smartwatch. You can download it from any store– Play Store, Microsoft Store, or App Store for on-the-move accounting.
Seamless Integrations
Payment gateways, Zoho apps, third-party apps, or partner banks– whatever it may be, Zoho Books can integrate with it seamlessly.
Workflow Automation
Zoho Books automates high-volume tasks– establishing payment reminders, recurring expenses, invoices, bills, auto-charging cards, etc.
Team Collaboration
You have one platform to communicate and collaborate with the team, suppliers, accountants, and customers.
Comprehensive Reports & Analytics
70 built-in reports that can be customized are available in Zoho Books, along with advanced analytics for your financial health.
Payroll, Inventory, And Project Accounting
Integrate payroll processing and accounting to manage employee runs, financial integration, and tax adherence with Zoho. Maintain your stock at proper levels with inventory tracking and insights. Maximize your project’s efficiency and profitability with project budgets, tasks, and client bills.
Tax Compliance & Reconciliation
Keep your records error-free with automated reconciliation and compliance with the tax laws of the nation.
Receivables & Payables
You can look after consistent cash flow management and control spending with receivables and payables tools.
Pricing
Zoho Books pricing plans come in a comprehensive variety, even including a free plan, making it a suitable accounting software for freelancers:
| Plans | Pricing |
| Free | $0 |
| Standard | $20 |
| Professional | $50 |
| Premium | $70 |
| Elite | $150 |
| Ultimate | $275 |
Pros & Cons Of Zoho Books
Among the cloud accounting software comparison, the pros and cons of Zoho Books come forward as follows:
| Zoho Books Pros | Zoho Books Cons |
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User Experience & Customer Reviews Zoho
Zoho Books review snippets given by users are as follows:
- User-friendly
- Strong invoicing capabilities
- Amazing features
- Robust integrations
- Occasional bugs
- Syncing issues with the bank feeds
- Limited reporting capabilities
Comparison Of Other Accounting Software Options
QuickBooks, Xero, and Zoho Books might top the accounting software charts, but other options give an equal fight:
Wave Accounting
Wave Accounting offers professional quality and expertise in accounting and bookkeeping. It is an ideal solution for small businesses and freelancers, scaling back and forth with their invoicing needs. This app is important in helping you manage money smartly with all the accounting tools in one place.
Stay ahead in compliance respects as well as monitoring your financial health with organized records and a user-friendly dashboard. Other critical features of Wave Accounting include:
- Give your invoicing a professional look
- Receive payments quickly
- Organize records with managed accounting
- Estimate to land precious clients
- Scan and upload receipts via mobile or desktop
- Manage employee payment in minutes
- Access expert advisory at any moment
Pricing
Wave Accounting offers quite pocket-friendly plans as follows:
- Starter Plan $0
- PRO Plan $16 Per Month/ $170 Annually
User Experience
User reviews have been positive because of the ease of use Wave offers. It offers a free plan through which businesses and freelancers can undertake professional invoicing and automate recurring ones. However, some users have complained about unreliable payment processing, weak customer support, limited functions in mobile, and insufficient bank synchronization.
Sage 50
Sage Accounting is yet another powerful accounting platform that takes care of small and mid-size firms. With the best inventory tracking capabilities, this software minimizes workload and drives the organization forward. The best feature of Sage is that it is the most comprehensive program with superior capabilities. The shining highlights of Sage Accounting are as follows:
- Cash flow control with detailed cash in and out breakdown
- Save resources in HR and payroll management
- Streamline reconciliation and look for any unreconciled differences
- Unique records, cost codes, and phases for cost control
- Proper adjustments in inventory through proactive tracking
- Cloud connection for freedom in usage
- Voluminous profits, losses, cash flow, assets, and liability reports
Pricing
The pricing structure of Sage 50 (1 user in each plan) is as follows:
- Pro Accounting- $61.92 per month/ $625 annually
- Premium Accounting- $103.92 per month/ $1043 annually
- Quantum Accounting- $177.71 per month/ $1780 annually
User Experience
Sage 50 is comparatively on the expensive side but it does offer various reports and clear insights through the dashboard. It integrates with Microsoft 365 and you can access detailed records and transaction forms. The issue is that the cloud accounting software is only available on desktops and not mobile or Windows. Also, some elements of the user interface may seem old.
FreshBooks
FreshBooks is accounting software that simplifies tough tasks with advanced capabilities. It is apt for solopreneurs, freelancers, businesses with employees, and businesses with contractors. If you have many users to manage your accounts, this online accounting software helps manage them.
Novice bookkeepers will find it helpful because of its good looks, simplicity, and user-friendly interface. Similarly, large businesses will find elements that boost their operations. The quality features of FreshBooks are as follows:
- Generate invoices, receive payments quicker, and track time with bill management capabilities.
- Handle accounting and tax operations like accounting, expenses, receipts, reports, mileage tracking, tax compliance, and bookkeeping.
- Communicate and connect with projects, proposals, estimates, and clients.
- Payroll and team management are radiating capabilities of FreshBooks.
Pricing
FreshBooks pricing goes as follows:
- Lite- $19
- Plus- $33
- Premium- $60
- Select- Talk To Specialists
User Experience
Users have reported a positive experience carrying out accounting operations through FreshBooks. It has specialty features like context-specific settings and retainers. There can be add-ons chosen based on your needs and the work can be done on mobile apps. The negatives of FreshBooks include weak inventory tracking and extra expenses for team members.
Conclusion
The in-depth accounting software comparison highlights where each of them stands. With QuickBooks suiting small-scale firms, Zoho enabling free usage with specific features, Xero being a comprehensive platform, and more, you can make a smarter choice for your needs. All you need to do is be mindful of your goals and the resources you’re willing to spend. This way, you’ll find the best cloud accounting platform to start working on.
Final Thoughts
When choosing accounting software, you must dive into the research aspect. Get user reviews, compare every software’s features, shortlist based on pricing, etc. From tax compliance to technical reliability, you need software that stores your accounting data in a secure environment.
If you wish to give any accounting software a try, ping our Accountingopedia team. We’ll delve into the features of each option, explaining the details so you can make the best choice.
