QuickBooks VS Xero Comparison

QuickBooks Vs. Xero? A Complete Guide to Choosing the Best Software for your Singapore business “Software is the magic thing whose importance only goes up over time.” – Bill Gates Understanding QuickBooks and Xero Accounting Softwares Both QuickBooks and Xero are powerful accounting software solutions suited for most small to medium size business owners in Singapore. The comparison between softwares is more than just price. If you are in the midst of searching for an accounting / invoicing tool, you may have a few considerations when deciding which tool to use – budget, business needs, and comparing different options on the market. In this post, we will give you a complete detailed breakdown of the features in both QuickBooks and Xero, and recommend the appropriate tool for your business needs. Some common questions about Quickbooks and Xero QuickBooks vs Xero, which is cheaper? If you require multi-currency functions, QuickBooks Essentials costs S$35 per month VS Xero Premium costs S$65 per month.  Comparing across the board, QuickBooks is cheaper than Xero. Do both softwares allow for Multi-Currency function? Yes, both have great multi-currency functions. The multi-currency function can be set up in Xero for a selected period of time whereas QuickBooks allows for a daily exchange rate to be used. Which software has the function to deliver invoice straight into another account of the same platform? Xero has a ‘XERO to XERO’ invoicing function where invoices can be delivered straight to your customer or supplier’s Xero account should they be a Xero user. QuickBooks does not have this function. Which software provides more customisation of reports? QuickBooks provides a more comprehensive reporting function – invoice templates are very flexible. While editing the invoice template, users can alter most fields, change colour and fonts. Users can also edit sales message and the fields they want to be displayed on an invoice. QuickBooks reporting capability scale up with each level. QuickBooks is able to run detailed reports like AR/AP with many ways to slice the report like by customer type etc, while Xero has slightly fewer customisations. QuickBooks Vs Xero, which one can do Bulk Actions like Bulk import? QuickBooks has a good amount of bulk transactions for setting up your business. Users are able to add in products and services, Contacts and suppliers. Columns can be mapped before importing. Expense Function The expense function is more user-friendly in QuickBooks as once users upload an invoice, it will be recorded as paid. Whereas for XERO users will have to upload invoice then select pay in the system. QuickBooks Vs Xero, which one can do GST F5 Report/Submission? Both platforms are customised to Singapore’s GST reporting standards. GST reporting function is more intuitive in QuickBooks. The platform gives user the ability to click on the total of each Box and have a secondary report generated showing the individual lines that make up the total of that box. Users can also record GST paid or claimed via QBO GST function. Does QuickBooks or Xero have WhatsApp Integration? QuickBooks’ latest feature allows for users to send invoices from QuickBooks Online and Mobile to their WhatsApp, so these invoices can be WhatsApped to your customers or clients. Xero does not currently have such a function. In summary, Quickbooks Vs Xero, which is the more suitable software? QuickBooks Online is best for: Businesses that are looking for a more cost-efficient & cheaper accounting software. Businesses that are looking for an easy-to-learn and intuitive user interface. Businesses looking for more comprehensive financial reports. Xero is best for: Businesses that require a wide range of integrations with applications. Businesses that require a wide range of bank integrations such as international banks: ANZ, Citibank, HSBC. QuickBooks Vs. Xero? A Complete Guide to Choosing the Best Software for your Singapore business “Software is the magic thing whose importance only goes up over time.” – Bill Gates Understanding QuickBooks and Xero Accounting Softwares Both QuickBooks and Xero are powerful accounting software solutions suited for most small to medium size business owners in Singapore. The comparison between softwares is more than just price. If you are in the midst of searching for an accounting / invoicing tool, you may have a few considerations when deciding which tool to use – budget, business needs, and comparing different options on the market. In this post, we will give you a breakdown of the features in QuickBooks and Xero, and recommend the appropriate tool for your business needs. Some common questions about Quickbooks and Xero QuickBooks vs Xero, which is cheaper? If you require multi-currency functions, QuickBooks Essentials costs S$35 per month VS Xero Premium costs S$65 per month. Comparing across the board, QuickBooks is cheaper than Xero. Do both softwares allow for Multi-Currency function? Yes, both have great multi-currency functions. The multi-currency function can be set up in Xero for a selected period of time whereas QuickBooks allows for a daily exchange rate to be used. Which software has the function to deliver invoice straight into another account of the same platform? Xero has a ‘XERO to XERO’ invoicing function where invoices can be delivered straight to your customer or supplier’s Xero account should they be a Xero user. QuickBooks does not have this function. Which software provides more customisation of reports? QuickBooks provides a more comprehensive reporting function – invoice templates are very flexible. While editing the invoice template, users can alter most fields, change colour and fonts. Users can also edit sales message and the fields they want to be displayed on an invoice. QuickBooks reporting capability scale up with each level. QuickBooks is able to run detailed reports like AR/AP with many ways to slice the report like by customer type etc, while Xero has slightly fewer customisations. QuickBooks Vs Xero, which one can do Bulk Actions like Bulk import? QuickBooks has a good amount of bulk transactions for setting up your business. Users are able to add in products and services, Contacts and suppliers. Columns can be mapped before importing. Expense