Xero provides professional invoice templates that users can customize in many ways. It supports transactions in multiple currencies, but with more limitations on reporting and customization compared to Xero. Multi-currency is available only in QuickBooks Online’s Advanced and Plus plans or in Desktop versions. Multi-currency is included in Xero’s premium plans and supports over 160 currencies with automatic exchange rate updates. The reconciliation tools are easy to use and show clear visuals for both matched and unmatched transactions.

• Multi-currency is available only in QuickBooks Online’s Advanced and Plus plans or in Desktop versions.
• Yes, both Xero and QuickBooks support e-invoicing, digital receipt capture, and compliance with local tax regulations.
• Xero has an editable dashboard that lets users choose their preferred sections.
• Q. Which is better for inventory management?

More comprehensive features (inventory, projects) included in mid-tiers. Included on all plans, offering better value for teams. User ratings (e.g., G2, Capterra) often show Xero slightly ahead in overall user satisfaction and ease of use, while QuickBooks scores well for features and accountant preference. Always check official websites for current pricing and promotional offers. The “better” ecosystem depends entirely on the specific apps your business relies on. Tracks time and expenses per project.

Customer Support

Direct access to human support representatives becomes crucial when facing urgent accounting issues, deadline pressures, or complex technical problems that need immediate resolution. QuickBooks provides a superior customer support infrastructure with 24/7 live chat and scheduled phone support available across all plans. Another thing that sets Xero apart is its approach to document management within the reconciliation process. Xero’s bank reconciliation capabilities consistently receive high praise, especially for its intelligent transaction matching and automated categorization rules.

Which software is better for inventory-heavy businesses?

QuickBooks is ideal for small and medium-sized businesses needing inventory management, tax compliance, payroll processing, and integration capabilities. Xero is primarily an accounting software that offers payments in over 160 currencies, making it ideal for international business. QuickBooks is an online accounting software that helps users track receipts, bank transactions, and income. Free accounting software for freelancers, solopreneurs, and small businesses.

• The Xero App Store allows users to filter and customize apps to suit their industry and needs.
• Xero offers a built-in invoicing feature where users can create invoices and customize them using the company logo, custom message, and added fields.
• Explore Microsoft Dynamics 365 Business Central, a modular ERP system built to unify accounting, inventory, CRM, HR, and operations.
• Users can access sales tax information from the Sales Tax Liability Report and get assistance from live tax experts for tax filing.
• QuickBooks allows users to include project details to calculate profitability.

An Insight into Xero Accounting Software Vs QuickBooks

Both promise to simplify your financial work, but they serve different needs. Businesses should confirm payroll availability before deciding. QuickBooks has built-in payroll add-ons that integrate seamlessly. Promotional discounts are common, so check Intuit’s official site for current offers. The company faced challenges with manual data entry, which consumed significant time and led to potential errors. QuickBooks includes a strong API that lets developers design custom apps and integrate different tools.

If you want detailed financial control, multi-location support, or running an online business with complex operations, QuickBooks is the right choice. ✅ Advanced reporting in Advanced and Desktop plans They needed a solution to automate their accounting processes and gain real-time insights on how their sales were performing across all channels.

From an analytical perspective, QuickBooks provides deeper insights through its advanced analytics features, which include trend analysis, forecasting tools, and performance benchmarking capabilities. This is very useful for businesses with unique operational models or detailed reporting obligations. This creates a complete audit trail that’s easily accessible during tax preparation or financial reviews, streamlining the entire bookkeeping workflow from transaction import to final reporting. The platform connects with over 21,000 financial institutions globally, providing real-time bank feeds that automatically import and categorize transactions.

Competitive pricing

The two undisputed heavyweights in the small business accounting ring are QuickBooks Online (from Intuit) and Xero. Get it right, and you’ll save hours on bookkeeping, gain clarity on your cash flow, and feel confident come tax time. QuickBooks Online is ideal for businesses seeking an intuitive, out-of-the-box experience with a polished user interface and mobile-first functionality. With unlimited users on all plans, it’s particularly well-suited for SMBs that have internal finance teams or multiple team members involved in bookkeeping. Both platforms help reduce manual entry and accounting errors. Choosing between Xero and QuickBooks can be tricky, as both platforms deliver strong core features tailored for SMBs.

However, some data may need to be transferred manually or with third-party tools. You can export and import key data such as contacts, invoices, and reports. Yes, both Xero and QuickBooks allow data migration between platforms. Talk to FastLane’s Xero-certified experts today and streamline your business finances with confidence. To make an informed decision, we recommend trying both platforms through their free 30-day trials. Both Xero and QuickBooks offer 30-day free trials, so we highly recommend testing both platforms with your real workflows before committing.

Xero vs QuickBooks: Which accounting software is right for you?

If you need deeper tools, choose QuickBooks. If you want basic accounting that your team can pick up quickly, Xero is the easier option. That’s why several D2C companies and consumer brands in 2025 prefer hiring accounting outsourcing companies like Atidiv.

Accounting, Invoicing and Expenses

With real-time notifications, reports, and insights, companies can get a forecast to manage cash flow. As users track their time using its time tracker tool, it allows users to view how much time was spent daily or weekly on projects in one place. It allows users to compare transactions with bank statements and check them off one by one until the difference between them is zero. QuickBooks offers charts of accounting to track assets and liabilities using balance sheet accounts and categorize transactions with income and expense accounts. Users can connect their bank accounts to automate income and expense tracking. It provides instant currency conversion, helps manage exchange rates for better cash flow, and allows users to view reports in local or foreign currency.

open-source apps I’d easily pay money for because they’re that good

QuickBooks allows users to customize their invoices by selecting templates, accumulated deficit adding logos and brand colors, choosing fonts, and editing sections. Xero allows users to connect to payment services with no monthly subscription costs. Users can set the software to send multiple reminders to the clients for due and overdue invoices at their preferred intervals. Users can run custom reports related to the tags to get an instant picture through the insights. QuickBooks allows users to tag things while working to track projects, locations, events, and more. Xero allows real-time cash flow updates and online collaboration with bookkeepers, employees, and accountants for tasks like submitting expenses and sending invoices.

Its user interface is still solid, and it offers several online tutorials, but beginners may encounter complexities with advanced reporting or inventory management. QuickBooks is the stronger choice for US-based businesses requiring comprehensive support, advanced customization, and robust compliance features. These are very valuable for businesses that need to maintain strict compliance with US tax regulations without investing in additional software.

You need unlimited team collaboration without paying per user

Explore Microsoft Dynamics 365 Business Central, a modular ERP system built to unify accounting, inventory, CRM, HR, and operations. To learn more about ways to optimize your financial operations, get in touch with us—Dynamics Square, a leading Dynamics 365 implementation partner in Canada. Launched in 2006 in New Zealand, Xero positions itself as a born-in-the-cloud, user-first accounting platform. It is like deciding which way you want to run your business.

QuickBooks is better suited for SMB owners who manage finances themselves or outsource accounting. In a nutshell, Xero is far more suitable for SMBs with a team of in-house accountants due to its support for unlimited users. The table below shows how much different plans cost for Xero and QuickBooks and any additional fees you’ll encounter. When your trip is complete, the application automatically logs your mileage and can generate detailed mileage reports. The Android and iOS applications allow users to send invoices, reconcile transactions, scan and upload receipts, upload documents and images, track payments and monitor cash flow. Xero and QuickBooks users can manage their finances from anywhere with robust mobile applications.

It also offers one-click access to help articles that users can refer to anytime. Users need to integrate third-party applications for advanced accounting features. Users can also add trips manually and categorize trips as businesses for tax deductions. Xero is not an alternative to project management software, but it has some useful project management features for companies involved in various projects. QuickBooks offers a time-tracking app types of expenditures called QuickBooks Time for employers to create schedules, track projects, and manage time-offs.

It syncs with QuickBooks Payroll and allows employees to what is a voucher enter their time manually or through the QuickBooks Workforce app. It also provides a staff time overview to monitor individual employee efficiency. It also helps users identify discrepancies quickly through the reconciliation discrepancy report, the missing checks report, and the transaction detail report.