In terms of basic functionality, most firms will find that both software offer everything they need, although large and rapidly growing firms may discover they need the expanded feature sets included in each software’s higher-tier plans.Īt $12 a month, Xero offers the most affordable subscription option with their “Early” plan. QuickBooks and Xero both have mobile apps that allow you to access most of their features on the go from your mobile devices. Although reporting options may be tied to your plan tier, both software allow you to run in-depth reports to track key performance indicators (KPIs) and better understand the productivity and profitability of your business. Xero and QuickBooks also have built-in payment processing options, so your firm can process payments from clients online. Either software can help your firm seamlessly track, pay, and record bills, as well as schedule recurring payments. Both software allow your firm to easily track income, generate expense entries and attach receipts, and gain a birds-eye view of money-in and money-out. Both Xero and QuickBooks allow your team to quickly prepare, review, and send quotes and invoices to clients. Here are some of the central features offered by both software. Xero and QuickBooks include many of the same core feature sets, and both are well-suited to handle the daily accounting needs of most firms. So which of these accounting software should your firm invest in? Here’s a quick breakdown of the strengths and weaknesses of each software. With that said, the best choice for you will depend on your firm’s size, growth goals, workflows, and even personal preference.
While QuickBooks still holds the largest market share in the U.S., New Zealand-based accounting software Xero has been quickly gaining ground throughout the world for its simple and intuitive approach to accounting tools.īoth software come with a wide range of functionalities, and both will do an excellent job handling most firms’ daily accounting needs. One tool that’s been getting a lot of attention in recent years is Xero. Going up against QuickBooks might seem like a big task for an accounting software, but let’s be honest-there are some great contenders in this title fight.
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