If you want to install your accounting software into a desktop or hard drive, then QuickBooks would fit your needs. However, if you want to take advantage of the new technology, and not be tied into one of your computers, then Xero accounting is perfect for you. Xero accounting is primarily based on the cloud and will allow you to use any of the device that links to the web.
When QuickBooks are installed as your accounting software, then you must need a license for each of the users and will become more costly. Whereas, for Xero accounting, it will allow multiple users at no added cost. Both of these software works with bank synchronization, accounts payable, bank reconciliation, cash flow and document sharing. There are some features which are not yet stated, these are only the few.
QuickBooks vs. Xero
- Easy bank reconciliation- both of these accounting software will enable the users to sync with their bank accounts and download these transactions. Only Xero will allow users to match previously recorded transactions into your bank records with just a click of a button.
- Accessibility anytime and anywhere- Through using Xero, you can access to your financial records all over the globe. All you need is just an internet connection to gain access to these information real time.
- Add-ons- Although both of these software have add-on features, these will help increase their functionality but it is only Xero that has over 350 add-ons and still growing.
- The tiles function- Each of the Xero accounts has its unique email address that can allow anyone to send documents for storage and attach files for any transactions. These files will have the ability to store all your accounting information in a secured place.
- The price- Xero accounting subscription will usually start at $12 per month plus VAT. Most of the accounting firm have included the package price and VAT as a package. Whereas for QuickBooks, they charge a software license fee per user.