If you like installing accounting software onto a desktop/hard drive then QuickBooks is for you, although if you want to take advantage of new technology, and not be tied to the one computer you have loaded the software on, Xero accounting is for you. The Xero accounting software is based in the cloud and allows you to use any device that links to the internet.
When the QuickBooks software is installed it must have a software license for each new user you add and can become quite costly. Whereas Xero allows multiple users at no extra cost.
Both Xero and QuickBooks software work well using bank synchronization, bank reconciliation, accounts payable, accounts receivable, inventory, invoicing, bill management, payroll, financial reporting, cashflow and document sharing and that’s just naming a few of them.
Xero Vs QuickBooks
- Easy bank reconciliation:Both QuickBooks and Xero enable users to sync bank accounts and download bank transactions. Only Xero allows you match previously recorded transactions with your bank transactions at the click of a button.
- Anytime accessibility and collaboration:By using Xero, you can access your accounting records from anywhere, at anytime; all that you would need is an internet connection and you will see your accounting information in real-time.
- Add-ons: Although both Xero and QuickBooks have add-ons and these help increase the functionality, but it is only Xero that has over 350 plus add-ons and counting.
- The files function:Each Xero account has a unique email address that allows you to send documents for storage or attach files for transactions. By using files you have the ability to keep all your accounting information in one secure place.
- The price: Xero accounting software subscription starts at just £9/month plus VAT, and JacRox Manchester accountants have put together various packages that include various accounting services and Xero subscription to find out more visit our Xero Solutions page. Whereas QuickBooks charge a software license fee and will charge for each user (which Xero does not) and not forgetting any future upgrades to the software – again any Xero updates are free to subscribers.