Is Xero Accounting Right For Your Business?
Xero is an efficient accounting solution that small business owners use to maintain their company’s rules and regulations. This system will help you manage your finances and budgets according to your business’ goals and objectives.
As a web-based solution, Xero can be accessed any time, any place, and from any device with an internet connection. This allows small businesses to view their cash flows, transactions and account details from all locations. Xero is one of the fastest growing software as-a-service companies globally.
Here are some Pros and Cons of choosing Xero:
Pros:
- Makes banking and reconciliation easy and quick
- Clean interface
- Includes Cloud computing – easy integration with third party apps
- Access to the same files as your clients
- Constantly upgrades with automatic updates
- Built in payroll with automatic payments
- Easy to use and has customer support services
Cons:
- Does not allow inventory tracking or purchase orders
- Cannot use multiple currencies
- Not suitable for complex processes
- Customer care support system is slow
- Restrictions on the number of transactions per month
Is Quickbooks Right For Your Business?
A popular accounting software program that many business owners select to maintain their own books is QuickBooks. This system offers small business owners a cloud-based accounting program that will provide your company with many features like business payments, income, and reporting.
QuickBooks operates entirely online, but offers more than just basic accounting. It’s meant to help small business owners simplify the back end of running a business. Just about everyone would agree that QuickBooks is a great introductory system for new and small businesses.
Here are some Pros and Cons of choosing QuickBooks:
Pros:
- Easy to use
- Accounts payable and accounts receivable
- Inventory and invoice
- Checks/credit processing features
- Provides direct online access
- Affordable price
- Free trial period
Cons:
- Lack of industry and business-specific features
- Limitations on the number of users
- Instability/system crashes
- Lack of direct professional support
- File-size issues
Norton CPA, LLC Can Help You Decide
Our team is more than happy to help manage your Xero or Quickbooks software for your small business. We are also here to assist you with setting up whichever bookkeeping software you may choose.
If you still have any questions or concerns about either of these softwares, give us a call today! (201) 988-6806