Quickbooks VS Zoho Books- A Comprehensive Comparison:
As technology advances, the number of available software options steadily increases. Such a scenario can be found in the accounting domain as well. Selecting the right accounting software can make a significant difference for small and medium businesses.
Two popular accounting software options available on the market today are Quickbooks and Zoho Books. In our blog today, we delve into a comprehensive comparison of their features to help you decide which one suits your business requirements.
Overview:
Quickbooks, an accounting software, was developed and marketed by Intuit. It was primarily targeted at small and medium-sized businesses. They offer desktop versions and cloud-based versions that provide a user-friendly interface along with accepting business payments, managing and paying bills, etc.
Zoho Books is a cloud-based accounting software that was developed by Zoho Corporation. It is part of the Zoho Suite and is an emerging player in the accounting software market. It largely caters to small and medium-sized businesses, offering comprehensive accounting solutions. It is known for its affordability and seamless integration with other Zoho products.
Quickbooks vs. Zoho Books Key Features Comparison:
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User interface:
Quickbooks:
Quickbooks offer user-friendly intuitive interface making it easy for users to navigate through the accounting tasks.
Zoho Books:
Zoho Books also provides an intuitive user interface. The platform design is modern and relatively easier to navigate, even for those who are new to accounting software.
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Pricing:
Quickbooks:
Quickbooks offers several pricing packages that cater to different scales of business operations. It can be expensive compared to Zoho books. The details of plans as of July 2024, are as follows:
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- Simple Start – AED 66 Per month (Basic features such as tracking income and expense, customer invoices, connect banking, VAT and reports for one user)
- Essentials – AED 99 Per month (Simple start + managing bills and expenses, tracking employee time, multicurrency, up to 3 users)
- Plus – AED 140 Per month (Essentials + recurring transactions, tracking inventory and project profitability, manage budgets, up to 5 users)
Zoho Books:
Zoho Books is known for its affordability. Their pricing plans are generally lower than those of Quickbooks. The details of plans as of July 2024, are as follows:
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- Free Plan (Recommended if below features are not required)
- Standard Plan – 60 AED Per month (Recommended if Vendor wise accounting is required)
- Professional Plan – 90 AED Per month (Recommended if invoice to be raised in multi-currency)
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Accounting features:
- Both Quickbooks and Zohobooks offer invoicing features; however, Zohobooks offers 18 templates, whereas Quickbooks offers 6 templates.
- Both programs offer advanced features in terms of accounts receivable. However, Zoho Books provides more stricter features that avoid the passing of unauthorized entries, discounts, or write-offs in the form of journal entries.
- Quickbooks offers inventory tracking in the Plus and Advanced plans. They provide tracking of goods and COGS, see what is popular, create purchase orders, and manage vendors. However, Zoho Books includes simple inventory functionality. For more robust inventory tracking, they provide a product called Zoho Inventory, which can be integrated with Zoho Books.
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Internal Control:
Zoho Books allows users to verify and authorize sales, purchases, and transactions, which equips businesses to have better internal control. This eliminates the risk of processing and sending incorrect invoices to customers. Transaction approval allows employees to create transactions and submit them for approval, while a user with specific approval access can verify and edit the transactions if required before approving them. Quickbooks misses the mark in this regard.
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Customer support:
Quickbooks offers good customer support across various channels, such as phone, chat, and email. They also provide a help center and community forums to find answers to common queries. On the other hand, Zoho Books offers excellent customer support, including support through email, chat, and phone. They also provide a vast variety of resources, including tutorials, webinars, and community forums.
Conclusion:
Both Quickbooks and Zoho Books are excellent accounting tools, each having their own pros and cons. Quickbooks offers powerful, comprehensive accounting and scalability. Zoho Books offers a cost-effective and user-friendly alternative that is suitable for small to medium-sized businesses.
The choice of accounting software depends on the business requirements, budget, and preferences. After careful evaluation of the features, pricing, and support options, you may select the accounting software that aligns with the business requirements.
Lastly, Quickbooks and Zoho books are accounting software. An accountant, on the other hand, not only records the transactions, but also ensures to comply with relevant financial regulations and reporting requirements; prepares tax returns, financial statements and other regulatory requirements; analyses the financial data to provide insight to help management to make informed decisions; identify and mitigate financial risk by implementing internal controls; develops budgets; provide recommendations for improving financial performance; ensures that financial statements are free from material misstatements.
Read our blog on “How Outsourcing Accounting Can Benefit Your Dubai Business?” and if you are in search for professionals who could support your business, then contact us at punith@bclglobiz.com.
