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Xero vs Quickbooks??

Discussion in 'Money matters' started by SunnIP, Nov 2, 2016.

  1. SunnIP

    SunnIP Member

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    Dear All,
    Any recommendations for online accounting software? Many of my friends use Xero but I have heard Quickbooks is better.
    I will be sending no more than about 5-10 invoices/month and want it as simple as possible. Any recommendations?
    Many thanks
    Kate

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  2. tfowler

    tfowler Member

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    Hi Kate,

    Xero is incredibly simply to use, and the support is great... you can also get a month free with Xero to test it out and see what you think. Admittedly I haven't used QuickBooks to compare, but I would highly recommend Xero.

    If you wanted to chat further, please don't hesitate to give me a call - 0408 233 265

    regards

    Tracy
  3. Paul - FS Concierge

    Paul - FS Concierge Administrator Staff Member

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    Hi Kate,

    Xero seems to be entrenched as the market leader and darling of the accounting fraternity.

    One point to consider is that because of the above, more accountants use and are expert in Xero so it makes some sense to go with what they use more often.

    I use Wave which is free - suits my purposes.

    Cheers
  4. J.Zkan

    J.Zkan Member

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    I use Xero at the moment but the only thing i hate about it is that you cannot send invoices which are attached to your business email address! Uses it's "xero mailing service tag"

    I am currently looking to switch since this confuses my clients at times.
  5. Ruairi

    Ruairi Member

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    I'm a big fan of Xero, but I might be a little biased since I develop addon software for them. I just think that they really pushed ahead with usability as a core feature and that took a lot of the pain out of using accountancy software. Anyone who has reconciled in Xero knows what I'm talking about.

    @J.Zkan
    I make an Outlook addon that allows you to send invoices using your own email server (plus a heap of other things). But I've quite a lot of users using it for just that feature.
  6. J.Zkan

    J.Zkan Member

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    Hi Ruairi,

    I use Google Business Mail, do you or know anyone that has a addon for Gmail app?

    Thanks.
  7. Ruairi

    Ruairi Member

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    Nope, sorry.
  8. Easysmb

    Easysmb Member

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    Hi Kate,
    In general, Xero is market leader, easier to use and Quickbook online is cheaper and offer big discount for new users.
    Xero has more addon options than others. If you don't have lots of invoices to be sent and you don't use payroll, you can sign with accountant partner edition through an Xero accountant advisor, GST cashbook is currently $19/month. And you can change to business plan when you need to.

    Good luck.
  9. gingerbeardhs

    gingerbeardhs Member

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    I use the Quickbooks Cloud platform. It works well for me. I do 90-95% of my accounting from my mobile and this does it fairly well

    It emails invoices with notes (for things like service documents) with my business name.
    I am able to keep track of costings by photographing receipts (still have to input details like amount, who I bought from, account bought from etc).
    It has a pretty good CRM. I am able to phone, text, email and navigate (it opens Google Maps) to a client.
    I like it overall (haven't tried Xero) but I have also had a few teething problems (which now seem to have resolved. I would get in-app surveys while I was trying to do business)
    It also prepares invoices.

    There are one or two things I wish it did, such as track how old invoices are, as a list, instead of having to log into desktop version. The recent activity tracker in the app has it, but invoices get lost in expenses and other things that I have added
  10. Delphic

    Delphic Member

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    I would suggest trying both on a trial basis. I was in a similar position to you, and asked the question and the resounding response was Xero, when I asked why the reasoning was nonsensical or not relevant to me. Only after trying them both out did I make my decision, I suggest you do the same.
  11. bb1

    bb1 Renowned Member

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    Just when taking advise on which accounting package, if its via an accountant, find out what their motivation is. I have spoken to my accountant and his view is that xero is slowly getting better (but still far behind the MYOB's, etc), but the main reason accountants are pushing it hard is they are getting a nice kickback from xero if purchased via them.

    There should have to be a disclosure like other industries when selling and giving advise on products.

    First question you should always ask when someone gives advise , is what is the benefit to you?
    Delphic likes this.
  12. Delphic

    Delphic Member

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    Bert, what a cynical view....but entirely correct. I like your way of thinking.
  13. Taxopia

    Taxopia Active Member

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    Xero pays some small commissions IF the subscription is owned by the reseller but frankly we think this is less than ideal. We don't hold any Xero subscriptions in our name because we don't want ownership data disputes and we don't care for the small commissions. It can certainly cloud objectivity if there are kick backs (refer financial planning industry). There is quite possibly a legal requirement to disclose this to clients (and you would be crazy not to).
    Paul - FS Concierge and Tact like this.
  14. Tact

    Tact Member

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    1. Xero is miles ahead of MYOB in terms of providing a cloud based system that actually works. Customer support and service is also the best I've ever seen with any software.

    2. Accountant's don't get a kickback from Xero. That's just incorrect. Accountants who have several Xero clients purchase licences from Xero on behalf of a client typically get a discount of 15 - 20 percent. That's $6.80 a month for those keeping score. A lot of firms pass that saving onto clients.

    3. Xero is popular because it works. I've used both systems and found Quickbooks to be less intuitive, laggy and simply 404s me on some occasions. For those in a pinch to save money at the start I'd recommend Quickbooks but if you're serious about running a business I'd invest the extra little bit of cash for something that works much better. And don't use MYOB...just don't.
    Blahish52 likes this.
  15. Paul - FS Concierge

    Paul - FS Concierge Administrator Staff Member

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  16. Taxopia

    Taxopia Active Member

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    Yeah that is ridiculous and completely unethical (but probably legal) behaviour. He could have exported the GL as a backup and then got another conversion firm to setup a new account. Then cancelled the old bank feeds.

    If a reseller holds the subscription then the reseller uses their own credit card in the system for all subscriptions held under that Xero partnership profile. If that credit card defaults for some reason, then ALL subscriptions linked to that card are suspended. Not great.

    The other interesting thing many don't know is that we pay MYOB and QuickBooks about $1000 each per year to be part of their professional partner program. However, Xero doesn't charge partners - quite the opposite it provides marketing subsidies for Xero initiatives. I cannot believe given all the ground they have lost to Xero that MYOB and Qbooks haven't dropped their annual partner fee. Kudos for Xero being the market leader in supporting partners.

    We are professional partners with all the major platforms and are big fans of Xero (silver Partners going on Gold). However, taking data ownership, reimbursing clients for small commissions is more risk than anything. It’s an awesome platform for small businesses and certainly one of the best if not the best cloud solution. Perfect? Not yet.
  17. bb1

    bb1 Renowned Member

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    https://www.xero.com/au/affiliates/
    Greg Mawer likes this.
  18. Paul - FS Concierge

    Paul - FS Concierge Administrator Staff Member

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    It's pretty rare to see a company with such dominance of the market (MYOB) and resources to predict the next big change, let go of so much of its market share in such a short time.
  19. Taxopia

    Taxopia Active Member

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    Yep its the perfect example of asleep at the wheel. We joke about it in our office. They had all the resources and lead time in the world to develop a cloud solution 8 years ago and yet market dominance made them complacent.
    Paul - FS Concierge likes this.
  20. littlestarter

    littlestarter Member

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    I've been using freeaccountingsoftware.com. It's simple yet comprehensive. So far so good! And FREE!

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