How QuickBooks Stacks Up to Its Competitors

How QuickBooks Stacks Up to Its Competitors

Intuit’s QuickBooks (QB) software dominates the global accounting software market. It presently holds over 80 percent of the SMB market share. Among Intuit’s many financial management products, it reports significant growth of QuickBooks Online (QBO). QBO connects accounting professional and SMBs over a variety of geographical locations and devices. Businesses can send invoices, track income and expenses, pay bills, and share reports and files with their bookkeepers and accountants. QuickBooks has always done considerably well compared to other bookkeeping software available on the market.

QuickBooks vs. Its Competitors: General Comparison

Ease of Use

One problem with accounting software is many are cumbersome to learn and challenging to use. Intuit designed QuickBooks to be easy to understand and intuitive, even for small business owners lacking a financial or accounting background. QB ranked number 12 on Capterra’s Top 20 user-friendliest accounting software. Popularity One primary reason why many SMB owners use QuickBooks Online is the outsourcing of external bookkeepers or accountants. Many of these professionals use QuickBooks more than any other accounting software available. Over 50,000 bookkeepers and accountants are certified QB ProAdvisors. Thus, the exchange of information between businesses and their accountants is seamless. What’s more, QuickBooks has millions of customers globally and ranked number one on Capterra’s list of top 20 most popular accounting software. Affordability QB has an accessible entry level price point. But compared to other bookkeeping software, it ranks at number 17 on Capterra’s list of top 20 most affordable accounting software.

Comparing QuickBooks to Its Competitors

  1. Xero: It’s the closest alternative to QuickBooks on the market. However, QB has a bigger ecosystem. Compared to QB’s 50,000 certified accountants, Xero has just over 10,000. It may be a challenge to find a Xero expert near you.
  2. Wave: It’s the most feature-rich, free QB alternative. However, users cannot use Wave to print checks or pay bills. It also has a smaller ecosystem compared to QB.
  3. FreshBooks: It’s the best QB alternative for freelancers. However, compared to QB, you cannot use it to manage your accounts payable (you can’t enter or pay bills through it) or track inventory costs and quantities.
  4. Sunrise: It is QB’s best alternative for monthly bookkeeping consultations. However, you cannot use Sunrise to manage your inventory or enter, track and report accounts payable.
  5. Zoho Books: Compared to QB, you cannot use the software to print checks for paying bills, and you cannot accept online payments from customers.
  6. ZipBooks: Compared to QB, ZipBooks doesn’t allow accounts payable tracking, inventory tracking, multicurrency transaction reporting, or financial statement generation.
  7. Spendwise: Though it’s user-friendly, you must sign up to Spendwise’s top-tier pricing plan to track income, access detailed profitability reports, and add accounting and inventory management.
  8. NetSuite: It’s a cloud ERP solution that provides financial management services. Compared to QB, NetSuite is more expensive and slower to reach ROI.

How TheOfficeSquad Bookkeepers Can Help Your Business

TheOfficeSquad is a management firm specializing in bookkeeping for small businesses. It can handle as little or as much work as you are ready to hand over, monthly. This includes accounts receivable, accounts payable, transactions review, monthly accounts reconciling, and producing financial statements by the 15th of the next month. Your “squad” keeps in constant communication with you at every stage. You also get remote access to your data through our instant chat and cloud features. Our services are professional, accountable and guaranteed. We understand small businesses and their growth aspect. We also have insurance against employee dishonesty, omissions and errors. Contact us today at 702-649-3495 to discuss your business’s needs.