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FreshBooks vs QuickBooks: Which One Should You Choose?

freshbooks vs quickbooks vs xero

Xero is an accounting powerhouse that can handle anything from freelancers to big-shot enterprises. With features like invoicing, payroll, and inventory management, it’s got all the bells and whistles. Meanwhile, FreshBooks is perfect for freelancers and small businesses that want simplicity without sacrificing functionality. When it comes to inventory management, Xero is also the name to beat for larger companies with lots of products and customers.

When choosing software vendors you need to prioritize the one that fits your business needs. Promotional offers for both monthly and yearly plans are for a limited period. No free trial period is included when availing this promotional discount.

Create quotes effortlessly with Xero’s desktop or app, enabling swift customer acceptance and seamless conversion into invoices, all in just a few simple steps. Customize orders, create digital POs using templates, and easily convert them into bills upon delivery for seamless management. Multiple payment options, click-to-pay buttons, and fraud protection are included. With everything stored in one convenient spot online, managing your payments has never been easier.

FreshBooks vs Xero: Pricing

This saves you the trouble of having to do calculations by hand. You can also make regular payments, saving time and always paying what you owe without any problems. You can quickly put in the bills you get from people you buy stuff from and pay them at the right time. Simplify the process of generating GST-compliant invoices by selecting built-in data fields designed to meet GST requirements. It’s a comprehensive solution catering to the diverse financial needs of emerging startups and expanding enterprises, making it an ideal fit for businesses of all sizes aiming for financial success.

Unloop is the first and only accounting firm exclusively servicing ecommerce and inventory businesses in the US and Canada. With the power of people and technology, our team dives deep into COGS and inventory accounting. You are paired with a dedicated bookkeeping team that prepares accurate financial statements, financial forecasts, and can also pay bills or run payroll for you.

  1. When you and your team juggle multiple projects, losing track of billable hours can hurt your wallet.
  2. QuickBooks – the best accounting software for small businesses, QuickBooks has everything you could need to easily deal with all of your finances.
  3. These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most.
  4. It showcases basic and advanced features like recording vendor credits and independent contractor billings.
  5. It can be easily accessed from any device, from your PC (Windows desktop) or Mac desktop to your mobile phone.

Each solution has different features offered at different price points, so you should ultimately choose the option that meets all of your business’s needs. Meanwhile, QuickBooks offers a long list of customization options for its pre-saved reports and even allows you to build your own custom reports from scratch. If simplicity is your cup of tea, you may not need to pay big bucks for a platform that includes every accounting feature under the sun. Your choice of accounting solution might just come down to what your business offers. You can easily test out expense tracking, team expense claims, and expense importing during your 30-day free trial.

FreshBooks vs. QuickBooks vs. Xero: What Are They?

95% of users agree that FreshBooks makes it easy to work with your accountant. You are charged an additional month beyond your cancelation date. So either you have to plan to cancel 2 months in advance or you have to plan to pay an additional month of service after you actually cancel. The total price for a Yearly plan is billed at the time of purchase.

freshbooks vs quickbooks vs xero

However, missing features like purchase orders (POs) and vendor credits are forgivable for FreshBooks since it didn’t include inventory management as a feature. Therefore, we see a situational approach here wherein we see FreshBooks and Xero’s A/P management as the best in their respective fields. FreshBooks and Xero offer various plans with different features and inclusions.

We believe everyone should be able to make financial decisions with confidence. Both services let you track time for a project, meaning you’ll know exactly how long a certain job takes. However, FreshBooks seems to have more in-depth client features, as it lets you store their contact info, communications and any internal notes you might have about them. It is difficult to migrate between the two, so it would be best to choose one and stick with it long-term. With this version, you load the software onto your personal computer.

Some also praised its fixed assets manager and project accounting capabilities. However, its inability to reconcile transactions without bank feeds and its lack of live phone and chat support are its biggest drawbacks. The FreshBooks app offers a convenient solution because of its invoicing on-the-go feature, which speeds up collections from clients. Moreover, it lets you capture your receipts for easy organizing and documenting, and it features time tracking for billable hours and a mileage tracker via GPS for monitoring your automobile expenses. QuickBooks Online is Intuit’s comprehensive yet easy-to-use software solution that simplifies accounting tasks for freelancers and small businesses.

Alternative Accounting Software Options

If your company does a lot of business overseas, or may grow to do that in the future, Xero may be a better solution than Quickbooks. Xero, on the other hand, will grow with your business and is robust enough to handle even a large company’s finances. The disadvantage is that it is more difficult to install and set up. So unless you are more technically inclined than the typical start-up owner, you will probably want to hire an outside technology person to handle the initial set-up. In this post we will give a quick rundown of three popular programs and tell you why they may or may not be the best for your business. They need to focus on getting it right before they move on to expanding their product line.

Operating within a three-tiered system, you can use Freshbooks for $15 – $50 per month. All three of the accounting software solutions offer integrations with other software. When it comes to reporting, Xero offers a more basic suite of options than QuickBooks.

QuickBooks also allows you to invite two accountants, whereas FreshBooks only allows you to invite one (starting at the Plus plan). QuickBooks one-ups FreshBooks in a lot of features that matter to large and growing businesses. For users with more than 2,000 clients, they recommend adding a firm to your account or consolidating clients.

It’s built so you can add your clients, connect your bank account, launch new projects and get started with expense management, without having to read documentation or get help from a lawyer. And if you need a hand, our phone support with a live rep extends to both you and your accountant, with no additional fees. Predictable costs without the need for add-ons or additional app integrations and transparent pricing that fits your budget.

Xero vs Quickbooks vs Freshbooks: Which Accounting & Bookkeeping Software Is Best?

However, to their credit, many of the negative reviews have replies from the FreshBooks team, all trying to solve any issues or at the very least apologizing for the inconvenience. It might not change the review score, but it’s nice to see them take an active approach with user feedback. Complaints with the main app seem to be focused on two things in particular.

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