Market-leading accounting software: which should you choose?
With so many accounting tools available to you, it can be hard to decipher which is the best option for your business.
Making your finances easier to record and navigate means finding software that is user-friendly, easy to use and does everything you need in the one place.
Quickbooks Online and Xero – both market-leading accounting platforms in their own right – offer all of these features. But how do you know which to use?
What each has to offer
Defining their differences will help you understand what you want in your comprehensive accounting software – and what you don’t.
We’ll highlight both the benefits and the not-so-greats of the two competing tools so you can decide which is the one for you.
We love Xero because it allows us to collaborate with our clients – we can access the same data at the same time, from anywhere in the world!
A cloud-based service, it can be accessed from anywhere with a device and an internet connection.
It shows your incomings and outgoings in real-time, allowing you to better manage your cash flow with an up-to-date understanding of your finances.
Xero is the easiest accounting software in the market but doesn’t (yet) have the more complex features that are better suited to large-scale businesses.
Because of this, Xero caters best to small and medium-sized businesses who need a simple accounting tool that easily manages their expenditure.
While Xero has larger plans to have more functions and features, the smaller ones have limited access.
Quickbooks Online has many of the same features as Xero. However, a visible difference between the two is that where Xero offers 3 plans, Quickbooks Online offers 4.
These 4 plans have fewer limitations in comparison to Xero’s Early plan, but they do cost significantly more.
Choosing the right option for you
At first glance, Xero and Quickbooks Online offer very similar accounting capabilities. But they do have their differences!
If you’re looking for more variety in plan options, tax tools and time tracking, Quickbooks Online is for you.
But if you’re after dedicated customer support, easy-to-navigate user allowances and advanced integration options, then Xero is where your business should base their finances.
We chose Xero and we think you should, too
As Xero accountants, the team at RBK were named Xero Accounting Partner of the Year in VIC, Australia.
We love the real-time reporting, client support and simple online bookkeeping that it affords our clients.
As accounting software that is always improving, we know that Xero is as dedicated to growing your business as they are to growing their own.