Can support larger small businesses with dozens of employees; all three plans include an unlimited number of users. Seamlessly connect QuickBooks to your favorite apps and tools, creating a unified hub for your business operations. From CRM systems to payment processors, QuickBooks integrates with a wide range of popular platforms, saving you time and effort.
Expenses
- A Live Bookkeeper cannot begin cleaning up your past books until they receive the required supporting documentation, which your bookkeeper will request from you after your first meeting.
- QuickBooks from Intuit is a small business accounting software that allows companies to manage business anywhere, anytime.
- As two of QuickBooks Online’s biggest competitors in the small-business accounting software space, Xero and FreshBooks each have their own strengths.
- This is because QuickBooks was designed for small businesses that might not have an accounting background, whereas Xero was designed with accountants and bookkeepers in mind.
FreshBooks is better geared toward freelancers and very small businesses that need to send a lot of invoices to clients. Though they have different functionalities, both made our list of the best accounting software. While FreshBooks has a live chat option for sales inquiries, you have to send an email or request a phone call for customer support.
Create Xero invoices for new WooCommerce orders
Ultimately, Xero and FreshBooks are both solid software options targeting different users. In contrast, Xero can run payrolls without customers needing to integrate other solutions, which comes at a cost. While FreshBooks includes bills as part of its Expense dashboard, Xero has a unique centralized bill dashboard that was recently launched by the company. Deciding to invest in bookkeeping software for your small business is already tough enough.
You are paired with a dedicated bookkeeping team that please honor my power of attorney law office prepares accurate financial statements, financial forecasts, and can also pay bills or run payroll for you. Come tax time, everything is organized and ready to go, so you don’t need to worry. Xero is also gearing up to launch Just Ask Xero (JAX), a generative AI assistant designed to help businesses complete accounting tasks like creating invoices or paying bills. While details on pricing and a hard launch date are still under wraps, JAX promises to reduce admin time by giving users a more intuitive, hands-free way to manage their finances.
Additionally, Xero’s customizable dashboard and global search function make the software easy to navigate. You can also connect your bank account and credit cards to your FreshBooks account to automatically track your expenses. Plus, use bank reconciliation to ensure your accounts are accurate and up to date.
Deel handles everything from salary and tax payments to payslip distribution and compliant hiring processes. With 24/7 in-app support featuring a rapid 1.25-minute response time and dedicated Customer Success Managers, Deel is with you every step of the way. If your company is small and scaling and your accounting team does not require advanced features, FreshBooks is an attractive option.
Wave Accounting
The bank reconciliation predictions help make those tedious end-of-month tasks a little easier by using past transaction data to suggest matches for your bank statements. This saves you from repetitive clicks by automatically identifying business names and common expenses. Wave Accounting is free, but it doesn’t skimp on invoicing capabilities, making it a good solution for very small service-based businesses and consultants. However, due to its limited feature set and lack of audit trails and third-party integrations, it’s not ideal for small businesses that have the potential to grow. All FreshBooks plans, except for the highest-tier custom plan, come with one user. FreshBooks gives you six user roles to choose from, plus client access and project manager customization options.
QuickBooks Online pros and cons at a glance
Add choosing the right bookkeeping software for your business to the mix, and you can quickly become overwhelmed, especially with the countless choices available. If you’re running a small business with simple finances, you might be able to handle it all on your own with Xero. But if you have intricate transactions or can’t tell a balance sheet from a grocery list, it’s probably time to call in the bookkeeping cavalry.