In analyzing the performance of the two most popular accounting tools Xero and QuickBooks, one can perhaps begin by stating that one of them came to the scene before the other and therefore had the chance to popularize itself earlier as a sole player. QuickBooks, developed, packaged and marketed by Intuit came to the market in 2004. Xero was to follow in 2006. However, competition between the two products has been stiff with some of their features coming very close to overlapping. It is important also to highlight that each company has, in some cases, features that appear differently for users in different countries, allowing these users to customize their software’s accordingly. All said and done, there are some outright differences, but even then, it is not easy to dismiss one and hail praises on the other.
Transaction Recording Functionalities
This is ultimately the most important feature on both software’s since they all thrive through input from users. On both, a plus( +) sign appears on the menu navigation bar at the top. It is the one you use to create and new transaction. When creating transactions in Xero and you have a product or service to enter, you can change this into any account despite the fact that the product and service accounts are clearly set out. This flexibility in Xero is unique as QuickBooks lacks this.
In QuickBooks, the closest feature to this is the navigation on the left-hand where, for instance, you can click Sales to input customer or revenue transactions.
As if acknowledging the need to keep revenue streams open, both products have very elaborate invoicing systems. On Xero, you are able to create contact groups where invoices that have common details can be relayed to a group of just about as large as a hundred companies. This is particularly workable with recurring subscriptions such as rentals and memberships. The main challenge, however, is when you need to add specifics such as rates for different customers.
QuickBooks allows you to create invoices that can be sent in advance. This is done by setting an automatic emailing and billing system and you can still choose a sales receipt as well as charge a credit card for the bill.
Xero observably beats QuickBooks on customization of invoices. Using a unique template for specific customers, Xero allows you to synchronize the email and invoice templates so that you bill to the specific customer.
Easy maneuverability on features
The ease of using any tool predominantly depends on the user. Even tools that may seem simple for some people may pose serious challenges to others. QuickBooks, however, comes out as a tool that presents simplicity even for new users. Xero, on the other hand, demonstrates its simplicity when a user has gotten to interact with the tool. In other words, you got to learn the ropes in order to appreciate its simplicity.
Since they both offer club-based computing, they are compatible with most of the major browsers and computer hardware without additional installations. Both tools have mobile apps for Android as well as iPhone, make them user-friendly as you work on the go.
Whereas Xero allows unlimited users across all its pricing plans, QuickBooks limits the number of users depending on the package you are using. The total number of users on QuickBooks is limited to 25 which means you have to incur an additional cost.
Xero is thus the ultimate winner on this end since you are not limited in terms of how many people can use the product at any given time.
The winner in this league depends on who you ask. Some people will have an outright distaste for either product depending on their past experience with them. One thing that is clear from several reviews available online is that users are very keen on customer response. Each of these products has a 24/7 customer support service but the quality of assistance you get from each is what determines their efficiency and competency. To a good extent, however, Xero’s customer service has been hailed as knowledgeable, friendly and ready to assist. In addition, various reviews say that Xero’s customer service personnel goes the extra mile to give you the assistance needed. You can also reach the QuickBooks Technical Support Phone Number for further assistance
These products are trying to enhance their services every so often. There are frequent updates on software and they also go an extra mile to let their customers know as much as they can about various features that they introduce from time to time. The fact is, with this kind of competition, consumers can expect superior services, especially at a time when cloud computing is taking over. If you are looking to settle on either, the best option would be to have both installed, experiment by testing their functionalities and make an informed decision.