Quickbooks Online vs Xero: A Deep Dive 1

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Quickbooks and Xero are two of the top accounting software options on today’s market. While they are very similar in some ways, there are plenty of differences that we’ll point out in this video to help you make the right choice for your accounting needs.

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Lilly James says:

Xero VS QuickBooks Online
In cloud accounting software, the two biggest names are QuickBooks and Xero. But when you have two very capable software options, both of which offer payroll, invoices, transactions, bank feeds, and more, which do you choose? Well, that’s what we’re here to help with. https://www.softwaresuggest.com/us/accounting-software

arthur mcglothen says:

Seth, as always you are right on!! Some time ago I reached out to you, you were informative and professional; I've recently begun my outsourcing bookkeeping/accounting, tax, and consulting services an was not that impress with Xero accounting software. After your comparative analysis, I'm convinced that QBOL-Accountant is the best accounting software for my accounting business model. Being a trained US GAAP accountant, the indirect method is what I advise my clients to implement for those business owners seeking to sell their business , down the road. GOD Bless, I look forward to learning more from you in the very near future. Arthur J McGlothen Jr & Co., PLLC

alexsilvacorp says:

Thanks for that. Any thoughts on Quickbooks self employed?

Francesco Scinico says:

I could not reproduce the charging statement balance problem in Xero; bank statement balance stays the same even when unreconciling transactions. As for the income statement report by month, the timeline can be reversed in Report Settings (oldest months to the left).

Christian Angelo Nilsén says:

Is some of Xero's features updated since this video?

D Wesley Tharpe says:

Excellent. Thanks, Seth. You've helped me figure out a number of things about basic accounting.

Catching Clouds Academy says:

Hey, my buddy Seth! Didn't realize this was your video until I started it. I agree with one of the other comments that said you focused too much on the reporting and not enough on the actual use of Xero… which I find to be way cleaner and easier to understand, especially for those new to accounting. (And frankly, that's where you spend 95% of your time.) Also – on the deposits issue… there is a feature called Prepayments that works beautifully for what you described and makes the need to run a balance sheet detail report obsolete. With that said, love your teaching style even though we don't always share opinions. 🙂

Irine Gujabidze says:

i also tried to explain myself what that statement balance means, never succeeded.

Patrick Leavy says:

Hi, great video. I have tried to replicate the bank statement error in the UK demo company and cannot. I did the same thing as you. Are you still finding this error?

Ava Marie says:

Check out Markate.pro – 2 week free trial and then only $18.95 a month and it does EVERYTHING & is user friendly – they have an app too…

suemirik says:

Have to agree with your assessment, thank you for side by side comparison.

Helena Joan says:

Thank you for helping me decide

csphilli says:

Great comparison and huge value add. Sold me on QBO which is a decision I needed your help with 👍🏼

David Rajewski says:

Thank you for this awesome review. Definitely helped me decide.

Sasore Campbell says:

Great introduction and comparison. Especially, thanks for the honesty.

Jack Faherty says:

Very informative video. Thanks for your efforts on this. I'm a CFO of a nonprofit. We intend to reorganize legally to break our existing one company into four, but afterwards it will still be essentially the same organization. Its unclear to me how well QBO handles multiple companies. Do you know if this is possible to do this in QBO?

Graham Handley says:

This concentrated on reporting with no time spent on ease of entry of data in the first place. Reporting comes after data. Sadly this did not help to decide in the contaxt of a practising accountant with clients entering data and how easy or otherwise it would be for them.

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