In this article, we examine three popular accounting software options - Intuit QuickBooks, Xero and Wave Accounting - and explain which platform is best suited to a specific business case.
Pricing
In terms of pricing, Wave is free (in US and Canada). For the rest of the world, they Wave has partnered with Zoho Books, where you have a full year of FREE access to a custom-built Zoho Books subscription when you sign up through Wave. You’ll get access to Zoho’s comprehensive accounting software, customizable invoices, and payment processing, all designed for your business’s needs and location.
QuickBooks and Xero are comparable on pricing. Personally, I think that Quickbooks is the market leader in the US, while Xero leads in Australasia. Both apps offer a 30 day free trial so accountants can test different features and functionality to determine which software is best for them.
Customer Support
The community and technical support for Xero is better than QuickBooks. Previously, I had a technical issue with QuickBooks and was asked to refer to a 100+ page FAQ pdf. For Xero, there are structured video tutorials (2 to 5min each video) and vibrant Xero Community Support.
Ease of Use
Xero's user interface is the simplest and easiest to use. It has the basic book keeping features and is compliant with regulatory requirements. You are also able to work on the go. QuickBooks is comparable to Xero, but I find Xero offers a more clean look. Both of them are able to integrate with external business applications (e.g. Receipt Scanner - Receipt Bank, Expensify, Inventory Management Software - Vend, Dear, E-Commerce - Shopify, Stripe) and the list goes on.
Wave can be used for businesses with few transaction activity. It does not offer bank feed and bank reconciliation is manual.
Contact us to find today out more which apps suit you.
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