Square vs QuickBooks: 5 Critical Differences
Square and QuickBooks are some of the biggest payment processing software providers though they are different in their features and services. Given that, QuickBooks offers payment processor software for small business owners and Square offers payment processors for large and established business owners. One key difference you may observe in these two applications is that QuickBooks has its software for accounting and payment transfer while Square does not have its software.
Table of Contents
This article introduces Square and QuickBooks along with their key features. It will also list down the key parameters of the Square vs QuickBooks discussion. Furthermore, a summary table is also given for a better understanding of their differences. You will also learn when you should select QuickBooks and when to choose a square. Read along to understand these 2 tools and decide which one suits you the best!
Table of Contents
- Introduction to Square
- Introduction to QuickBooks
- Comparing Square vs QuickBooks
- Square Use Cases
- QuickBooks Use Cases
- Conclusion
Introduction to Square
Square is a point of sale business tool with tons of features suitable for any business. With a user-friendly interface and amazing platform, the square has marked its presence with its competitors. The square shows an analysis of your sales and provides the best solution for your business. It also offers an offline payment feature, so you can transfer money even if you are offline.
Key Features of Square
Square is a widely used tool because of the following parameters:
- Transaction: You can transfer or accept money using credit/debit cards, online or in person.
- Ancillary: Square offers a gift card programme, database of the customer’s information and many more.
- Invoice: The invoice feature allows you to monitor payment from any device.
- Free service: square appointment, square POS application, account, access to the dashboard, square mega strip and many features of Square are free.
To learn more about Square, visit here.
Introduction to QuickBooks
QuickBooks is launched by Intuit to help business owners who own small businesses. QuickBooks helps small business owners with a merchant account and credit card processing. There are many products and services available for small business owners like payment rolls, tax reports, analysis, etc. in QuickBooks.
Key Features of QuickBooks
The following feature make QuickBooks a popular option in the market:
- Transaction: QuickBooks is suitable for credit/debit cards, online, in-person transactions.
- Invoicing: the invoice feature allows you to access the data from mobile, pc, tablet, laptop or any device.
- Mobile application: QuickBooks has its mobile application for ease of use.
To learn more about QuickBooks, visit here.
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Comparing Square vs QuickBooks
The following parameters will help you decide between Square vs QuickBooks:
- Square vs QuickBooks: Basic and Advanced Features
- Square vs QuickBooks: Invoicing and Supported Payment Types
- Square vs QuickBooks: E-Commerce Integrations and Mobile App Support
- Square vs QuickBooks: Payroll Support and Pricing
- Square vs QuickBooks: Transaction Charges and Customer Support
1) Square vs QuickBooks: Basic and Advanced Features
Both Square and QuickBooks have month-to-month billing features at low pricing. Square requires external hardware for transactions while QuickBooks has its own Integrations software for transactions.
Square has a simple setup and centralised online dashboard. QuickBooks has a user-friendly interface and simple customization features. Also, the navigation panel allows you to go through different features of QuickBooks.
The POS software of Square is free of cost while the PoS software of QuickBooks starts at a $1200 subscription price.
2) Square vs QuickBooks: Invoicing and Payment Types
Square has an in-built invoice free of cost. QuickBooks has an in-built invoice feature but requires a subscription.
Square and QuickBooks both support debit/credit card payment. Both the tools also support online, keyed-in and in-person transactions.
3) Square vs QuickBooks: E-Commerce Integrations and Mobile App Support
Square can be integrated with QuickBooks as well as many e-commerce software. Square offers SMS/email receipt on card/keyed-in transactions and in addition, includes inventory and employee management tools.
QuickBooks has its software for integration and in addition, you can also Integrate QuickBooks with other applications as well. QuickBooks has similar features as Square but it does not have inventory and employee management tools.
4) Square vs QuickBooks: Payroll Support and Pricing
Square charges $29/month +$5/ employee. One can pay by direct deposit, credit or cash using square. Moreover, Square is free of cost for a basic account.
QuickBooks charges $45/month+$4/ employee. One can pay the next day, credit card or by cash on QuickBooks. furthermore, QuickBooks requires $20 for the basic account.
5) Square vs QuickBooks: Transaction Charges and Customer Support
A fee of $0.10 to $30 + 2.6% to 3.5% per transaction is required by square. Square has a mobile calling, community forum, knowledge base and email option for customer support. However, these features are available from Monday to Friday only.
A fee of $0.25 and 2.4% to 3.5% for any transaction is required using QuickBooks. QuickBooks offers community forums, help centres, tutorial videos and webinars for customer support.
The above differences can be summarized as follows:
| Features | Square | QuickBooks |
| Pricing | Free | Subscription ($20) |
| Payroll support | $29/month+$5/employee | $45/month+$4/employee |
| Customer support | mon-Fri: 6 am to 6 pmCall, email, forum | 24/7, email, help centre, webinars, tutorials. |
| Invoice | Free | Requires subscription |
| Transaction charges | $0.10 to $30 + 2.6% to 3.5% per transaction | $0.25 and 2.4% to 3.5% for any transaction |
| Merchant account | No | Yes |
Square Use Cases
Square software suits the following use cases:
- You don’t need a complicated eCommerce platform if you run a modest online business.
- You work in the retail industry and require a reliable inventory management system.
- You are already a customer of Square and its prices and features don’t bother you.
- During the off-season, You run a seasonal business and don’t want to be charged any fees.
QuickBooks Use Cases
The following use cases require the application of QuickBooks:
- You work in the professional services industry and rely on invoices to collect the majority of your payments.
- You process more than $7,500 per month and would like to set up a unique processing pricing plan.
- You want a reliable, full-service merchant account that integrates easily with QuickBooks Online.
Conclusion
This article discussed Square and QuickBooks and explained their key features. Moreover, it dived into the Square vs QuickBooks discussion and provided 5 suitable parameters to compare these 2 tools. Furthermore, it provided a table listing down the summary of this comparison. The blog also listed the use cases of both Square and QuickBooks.
For your bookkeeping needs, QuickBooks is the first choice. Combining QuickBooks for accounting with Square for credit card processing can be the best tool for your business, no matter which business you have. In addition, a full-service merchant account has a lot of benefits, and QuickBooks Payments is one of the few suppliers that offer one without a monthly cost or a long-term commitment.
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