Every business is unique and has its own needs. It’s crucial for business owners, especially small business owners looking to maximize value, to find the right accounting software that meets these needs.
In the accounting software space, there are different options to select from, with Xero and Quickbooks chosen by a number of business owners for handling invoicing and accounting tasks. In this post, we’ll look at Xero and Quickbooks, what they offer, their pros, and cons and explore other options that could be a better fit for your business.
Xero
Xero is cloud-based accounting software designed for businesses. It offers a wide array of functionalities, including but not limited to invoicing, expense monitoring, inventory management, double-entry bookkeeping, and various other tools and features. Xero integrates with third-party apps for extended functions like payroll, point of sale, and customer relationship management.
Pros
- Xero offers extensive business and accounting reports
- Xero integrates with third-party apps to streamline processes
Cons
- It tends to be expensive for small businesses with the lowest-tier plan restricted to 20 invoices and a limit of five bills per month.
- Using Xero’s comprehensive features might be a bit tricky for people who are new to accounting software.
- A number of users have mentioned difficulties with customer support, such as slow response times and lack of live assistance.
Xero Pricing
(Source Xero.com)
Xero does not offer a free plan; but, there’s a 30-day free trial period to test out Xero. Pricing ranges from $13 to $70 billed monthly. During sales, you get 75% off for the first 3 months after which normal rates apply for each plan.
What customers are saying about Xero
Xero can be quite expensive as compared to other accounting software and the customer support is not always as helpful as one would hope. (Review from Capterra)
It’s not as easy for non-accountants to use. I have worked with other products that are more user-friendly in categorizing transactions and producing reports. (Review from G2)
As with many accounting software, Xero is complex, and it’s not always obvious how to do something. The design could be more intuitive, and I sometimes click around trying to figure out where something would be. (Review from Capterra)
A tad too complex for the average user. Reports, in particular are not easy to figure out which is right for any given set of data (Review from G2)
Related: FreshBooks vs. Xero: 2023 Comparisons
Quickbooks
Quickbooks is an online accounting tool designed for businesses. It online offers various functions such as creating invoices, tracking time, managing inventory, handling financial records with double-entry accounting, and reconciling bank transactions. However, it may be expensive for small businesses that only need basic features.
Pros
- It offers a wide variety of features for businesses of different sizes
- Quickbooks offers comprehensive reporting capabilities.
Cons
- Quickbooks It is not a cost-friendly option for small businesses with a smaller budget
- It’s a bit challenging to use, and you might need some time to learn how to use it effectively.
Quickbooks Pricing
(Source Quickbook.com)
There is no free plan however, there’s a 30-day free trial period to test out Quickbooks. Pricing ranges from $30 to $200 per month. During sales, you get 50% off for the first three months after which normal rates apply for each plan.
What customers are saying about Quickbooks
There’s a huge learning curve for this software. (Review from Capterra)
The price can be a bit much for some companies. The customer service is horrible, and answers are confusing once a person does answer to help. (Review from Capterra)
My least favorite thing about this software is that the longer it is up the slower it gets for me. (Review from Capterra)
The user interface can be quite confusing and complicated, especially for those who are just starting to use accounting software for the first time. (Review from G2)
Related: Sage vs. Quickbooks, Honeybooks vs. Quickbooks
Xero vs. Quickbooks Online: Feature Comparison
| Feature | Xero | Quickbooks |
| Free Plan | Yes | No |
| Invoicing | Yes | Yes |
| Inventory tracking | Yes | Yes |
| Accounting reports | Yes | Yes |
| Estimates and Quotes | Yes | Yes |
| Vendor Billing | Yes | Yes |
| Multiple user access | Yes | Yes |
| Audit Trail | Yes | Yes |
| Budgeting tools | Yes | Yes |
Vencru: The Invoicing and Accounting Software for All Businesses
Are you wondering if there is an affordable and user-friendly alternative to expensive and complex accounting software that can grow with your business? Vencru is a simple, comprehensive, and budget-friendly accounting software crafted with business owners in mind. Enjoy all the benefits of accounting software with a free plan and plans starting at $6 to $50 billed monthly!
On Vencru, you can create invoices, quotes, or estimates, receive online payments, track debtors, convert any device to a point-of-sale system, monitor inventory levels, record bills, manage vendors and customers, track your expenses, manage employees, view business and accounting reports and so much more!
Searching for an alternative to Xero and Quickbooks? Vencru offers you all you need and more for less and without complexities because we believe excellent accounting software should be within reach for all small businesses.
| Feature | Vencru | Xero | Quickbooks |
| Free Plan | Yes | No | No |
| Coverage | Worldwide with over 160 supported currencies | Worldwide | Worldwide |
| Intuitive (Easy to use) | Yes | Relatively | No |
| Pricing (billed monthly) | Starts at $6 | Starts at $20 | Starts at $30 |
| Invoicing | Yes | Yes | Yes |
| Inventory management | Yes | Yes | Yes |
| Estimates and Quotes | Yes | Yes | Yes |
| Order Management (shipping status) | Yes | No | No |
| Accept Online Payment | Yes | Yes | Yes |
| Multicurrency (For sales and expenses) | Yes | Yes | Yes |
| Tax reporting | Yes | Yes | Yes |
| Purchase Order and Vendor Bills | Yes | Yes | Yes |
| Business reports | Yes | Yes | Yes |
| Double-Entry Accounting reports | Yes | Yes | Yes |
| Employee management (sales by employee report) | Yes | No | No |
| Budgeting tools | Yes | Yes | Yes |
| Product barcode scanning for sales and inventory | Yes | No | No |
| Expiry date tracking for products | Yes | No | No |
| Audit Trail | Yes | Yes | Yes |
| Mobile App | Yes | Yes | Yes |
Vencru Plan Includes
- Invoicing and Sales Management – Create online invoices in less than a minute. Automatically track debtors, manage business sales, improve cash flow, and get your financial reports.
- Estimates and Quotes– Create quotes and proposals in various currencies and convert estimates into invoices seamlessly.
- Inventory Management– Tracking inventory is easy with Vencru. Keep track of what you have in store, update when to restock, and automatically deduct when you create invoices or receipts.
- Expense Management– Track and manage all your business expenses and receipts in one place. Say goodbye to manual expense reporting and streamline your finances.
- Vendor Billing– Make and send vendor bills, track orders, and deliveries, and sync inventory items easily.
- Business Reporting– Convert all data into insights needed to grow your business with simplified business reports. Review dashboards and reports on your sales, sales taxes, expenses, inventory, and clients.
- Accept Online Payments– Accept online payments with credit cards, debit cards, eChecks, and more, and have every penny accounted for with our bookkeeping features.
- Double-Entry Accounting– Powerful and robust double-entry accounting system. Track assets, liabilities, equity, revenue, and expenses.
- Client Management– Manage your clients, track their orders, and keep on top of your financials
- Business Budget Planning– Plan your business budget, set targets for revenue and expenses, forecast finances, and track progress easily.
- Employee management– Track sales by employee, view performance metrics, and maintain an audit trail.
Vencru Pricing
Free Trial: Sign up for a free 30-day trial on Vencru. No credit card is required! A simple start to managing your business is easier.
Demo: If you prefer, you can schedule a free demo with one of our experts or connect on live chat. We’ll answer all your questions.
How to migrate to Vencru from Quickbooks or Xero
Want to migrate to Vencru online accounting software? Here’s how easy it is:
- Book a free demo with our customer support team
- Decide on the best plan that works for you
- We will work with you and provide training on how to migrate successfully.
