Disclaimer: Please note this article is not financial advice. The purpose of our blog is purely educational, so please consult a professional accountant or financial advisor before making any financial decision.
If you're a small business owner or entrepreneur, you've probably been itching to find an accounting solution that meets your needs. If so, then we have some great news for you! This article focuses on two of the most widely-used solutions on the market today—FreshBooks vs. Quickbooks.
Read and see why a review between FreshBooks vs. Quickbooks is necessary and how the two software applications stack up against each other when it comes to their features and pricing plans.
QuickBooks
Compatibility and Integration
QuickBooks is a business financial software package from Intuit. QuickBooks Online is one of the most widely-known accounting software applications for businesses in the United States and Canada. It's an in-browser program that's compatible with Mac and Windows platforms. The software has all the basic features you would expect in an accounting program: invoicing, inventory, and reporting. One unique feature of QuickBooks that sets it apart from other accounting software packages is its integration with many third-party solutions like PayPal, Google Cloud, Amazon Web Services (AWS), and A2X.
If you want to know more about Quickbooks integration, you can read Seamless Accounting With Amazon Quickbooks Integration, written by one of our highly skilled CPAs here in Unloop.
User-Friendliness
QuickBooks is the easiest to use accounting software for small businesses. It has features specifically designed for entrepreneurs and boasts an easy-to-navigate interface. This accounting software also offers a partnership program called QuickBooks Point of Sale, which small businesses in the restaurant industry can use.
Pricing
QuickBooks is affordable. The software has three pricing plans: Simple, Plus, and Advanced. The Simple plan is $12.50/month and includes the basic features of invoicing, inventory, and reporting. However, only one user can use the Simple plan.
The Plus plan is worth $40 and includes all of Simple's features with the capacity to create estimates and track expenses. Take note that you can allow up to five users with the Plus plan.
Lastly, the Advanced plan is $90/month and provides all features of the Plus plan as well as the ability to manage payroll and track sales tax. You can also allow 25 users to access your financial records.
FreshBooks
Overview
FreshBooks is a cloud-based accounting solution created in 2003. The company currently has over five million users and offers a desktop and online version of its software, and is available in Australia, Canada, Ireland, New Zealand, Singapore, the United Kingdom, and the United States.
Compatibility and Integration
If you're looking for a more traditional accounting solution, FreshBooks might be the best fit for you. It runs on desktop browsers, but it also offers mobile applications available on all major platforms such as iOS, Android, and Windows. One of the most in-demand features of FreshBooks is its email invoicing service. With it, you can easily create and send invoices to your customers without leaving Gmail or Outlook.
FreshBooks integrates with many third-party solutions like PayPal, Stripe, Shopify, and Google Docs. It means that you can easily export your data into these services and streamline your workflow.
Features
FreshBooks is the best solution for people who want an accounting package that has similar features similar to QuickBooks but who don't need all of its bells and whistles. The software offers more than enough functionality for most small businesses out there, with some great extra features like time-tracking capabilities which aren't included in QuickBooks. It's also compatible with many third-party solutions like Google Cloud Storage, Dropbox, Slack, and it even works on mobile devices.
The most significant difference between FreshBooks and other accounting solutions like QuickBooks is that FreshBooks is geared towards service-based businesses. It is perfect for freelancers, consultants, and other professionals offering their services to clients.
User-Friendliness
This cloud-based accounting tool is easy to understand. It provides some features similar to those of QuickBooks. The interface has a simple and intuitive interface that makes it perfect for service-based businesses, so you'll be able to get up and running with the software in no time. It's also available as an app, which means you can access your account wherever you are.
Pricing
FreshBooks is affordable. The software has three pricing plans: Lite, Plus, and Premium. The Lite plan is $15/month and includes the basic features of invoicing, time tracking, and expenses. The Plus plan is $25/month and includes the basic features of the Lite plan and the ability to create estimates and track project time. The Premium plan is $50/month and includes the basic features of the Lite and Plus plans with the additional functions to create custom invoices and manage payroll.
Visit FreshBooks now and enjoy discounts on all of their plans.
FreshBooks Versus QuickBooks for Small Businesses
By now, you probably already have an inkling about which solution will work better for your business needs. If you're looking for a more traditional accounting solution with email invoicing, FreshBooks is the best option. However, if you're looking for a more comprehensive package that includes features like time-tracking and inventory management, QuickBooks Online is the right choice for you. Both QuickBooks and FreshBooks are great options if you need a fast way of creating invoices or managing expenses on the go.
FreshBooks is a great tool for entrepreneurs who offer services to clients, while QuickBooks works best if you need something made specifically for small businesses rather than service-based ones. QuickBooks does have some features that FreshBooks lacks, like the ability to track inventory and create estimates which may be useful depending on what your business specializes in.
Choose Wisely
If you’re still deciding on FreshBooks vs. Quickbooks in Canada, know that wherever you’re located, both will make your business finances easier to manage. FreshBooks and Quickbooks are great options for small businesses aiming to simplify their accounting tasks. It's important that you take into account your own business needs before deciding which of these two solutions is right for you.
If you're considering FreshBooks, keep in mind the benefits it offers over QuickBooks, like more customization on invoices and time tracking capabilities (something not included with QuickBooks). However, if inventory management or creating estimates is something your business regularly does, then consider using Quickbooks instead since this software includes those out-of-the-box features.
No matter what decision you make, our team here in Unloop is here to help! We can provide assistance with implementing multichannel solutions, so don't hesitate to get in touch.