Gone are the days of manual accounting and bookkeeping. Nowadays, businesses make use of cloud accounting software. You must be wondering why this transition is happening, so the answer to this is that cloud accounting software provides a lot of benefits as compared to traditional accounting software. The two names gaining immense popularity in this area are Xero and QuickBooks. Both the software offers endless accounting and bookkeeping solutions to every business. The emerging need for these software calls for the appointment of a Xero bookkeeper or a QuickBooks bookkeeper.
Both the software offers plenty of advantages regarding time, cost, and convenience to the businesses. Though both the software ensures a crystal-clear view of accounting, a difference in approaches can be seen. Generally, Xero is preferred for mid to large businesses, whereas QuickBooks is for small to mid-businesses. Significant differences can be noticed if scratched below the surface. Some points of difference based on their features are mentioned below:
Easy to use: A software enjoys customers’ confidence if it is easy to use. QuickBooks is surprisingly much easier to use than Xero. Any layman without any prior accounting experience can access QuickBooks, whereas Xero is comparatively challenging to use.
Better app facility: Xero and QuickBooks provide app facilities to their users. However, the interface of QuickBooks is quite easily accessible and understandable as compared to Xero. Even a person who is new to using apps can get through it with little guidance.
Number of users: Easy access makes the software more popular among the users. Xero allows multiple users in all its plans. On the other hand, QuickBooks restricts the number of users to five only.
Payment of bills: One feature of accounting software that can come in handy is bill payment through the software itself. Keeping the same in mind, Xero makes the payment of new bills much easier for its users with a single step, while QuickBooks follows three steps.
Invoicing: Another essential function includes invoicing; both apps deliver simple invoicing services. It may seem similar, but if we dig deeper, we can analyse that QuickBooks provides a more customised experience, giving it an upper hand over Xero.
Online support: QuickBooks gets the upper hand in this situation. QuickBooks offers better online support to its users than Xero; the quick availability of online assistance makes it more popular among users.
Affordable pricing: As far as pricing goes, both software offers their subscription plans at a low rate and even offer discounts from time to time. However, Xero is priced slightly higher than QuickBooks.
The above differences provide more transparency in choosing between Xero and QuickBooks. In addition to this, hiring professionals like Xero or QuickBooks accountants can ease your work as they are equipped with updated accounting terms, regulations, etc. This enables the businesses to devote more time to their core processes rather than investing their time in understanding the complexities related to accounting.
To make the process easier, you can hire competent accounting and bookkeeping service provider to help you with the accounting process. One such service provider is - Whiz Consulting Pvt Ltd. They provide accounting and bookkeeping services wherein their experts help you in the accounting process on your choice of cloud accounting software. Whether focused on cost reduction or expansion, any business needs to understand that cloud accounting software is a far better option than manual accounting and bookkeeping methods.
