QuickBooks Live doesn’t offer tax filing or payroll services, unlike Bookkeeper360. Prices for QuickBooks Live Bookkeeping scale with the monthly expenses of your business, which means higher costs for businesses with higher accounting basics for entrepreneurs entrepreneurship expenses. We break down the prices in our QuickBooks Live review’s pricing section. Xero is more affordable and scalable than QuickBooks since all subscriptions have unlimited users. If you have a microbusiness and only need to manage and track a few bills and invoices, then you might do well with Xero’s Early plan.
- For QBO, you pay a monthly subscription rather than an upfront fee, and you get all the patches and software updates from Intuit.
- Its prices are competitive, especially if you use QuickBooks Self-Employed.
- The platform makes it extraordinarily easy to review and pay outstanding bills.
- Xero, on the other hand, might be slightly more suited to accountants and bookkeepers due to its design.
- We also weighed factors such as pricing, user experience, customer service and integrations.
Do Xero and QuickBooks both have fixed asset management features?
QuickBooks Online’s most popular Plus plan tops out at five users; its highest-tier Advanced plan allows up to 25 users, but that plan is expensive at $235 per month. In contrast, all Xero plans offer unlimited users and its highest-tier Established plan is a more affordable $78 per month. Both do a great job of accounting for inventory and calculating the cost of your inventory sold automatically. However, inventory accounting is included in all Xero plans, while it’s only in the Plus and Advanced versions of QuickBooks Online. So, if you want a low-cost inventory management solution, go with Xero.
Invoicing
You can only send 5 invoices and quotes, enter 5 bills and reconcile 20 bank transactions. As a larger business, you can also look into Intuit’s wider software suite, including QuickBooks Enterprise Solutions, which claims to have 6x the capacity of other QuickBooks editions. The Enterprise edition scales up to 30 users, supports up to 1 million list items, and offers advanced reporting, inventory, and printing. Many accounting solutions have expense tracking tools, but we found that QuickBooks makes them especially user-friendly. It takes just a few clicks to run through various accounting functions and get your expenses in order.
Expense and mileage tracking
Plus, no matter what, profitability reporting and data are available right from the Xero dashboard. Xero’s reporting tools impressed us overall, even though withholding tax percentage other platforms include a wider variety of reports. For example, you can’t use Xero to accept tips via invoices as you can with QuickBooks. On top of that, you can only convert quotes, not estimates, to invoices in Xero.
QuickBooks offers live phone and chat support six days a week, providing you with a direct line to experts whenever you need them. With personalized assistance, you can tackle any accounting challenge with confidence and keep your business on track. It’s easy to see why QuickBooks is a standout choice for small-to mid-size businesses. Its intuitive interface, robust feature set, and readily available customer support make it a comprehensive and user-friendly solution designed to help grow—and scale with—your business. One of the advantages of using Xero is that it can save businesses time and money. With Xero, businesses can eliminate the need for paper records and reduce accounting fees.
How much does QuickBooks Online cost?
However, Xero is missing some of our favorite QuickBooks expense-tracking features, such as cash flow statements. Xero is also ideal if you’re seeking accounting software that grows with you. All Xero accounts allow unlimited users; many other platforms cap user allotments. You can upgrade to a higher tier when the time is right, not when you meet an arbitrary upper limit. With Xero, you operating expenses get budget-friendly, high-quality accounting software today, tomorrow and long after.
Now, just like Xero, QuickBooks Online allows you to record a fixed asset purchase, track the asset, and calculate depreciation. Seamlessly connect QuickBooks to your favorite apps and tools, creating a unified hub for your business operations. From CRM systems to payment processors, QuickBooks integrates with a wide range of popular platforms, saving you time and effort. Xero is a better option for businesses that need to track project profitability.