Managing and tracking finances is a crucial task for every business across the world. No matter the industry a company is in, effective Accounting helps them in the taxation process and Business Performance Analysis. Zoho Books and Quickbooks are two of the most popular Cloud-based Accounting applications currently in the market.
This article will provide a comprehensive understanding of Zoho Books and Quickbooks. The article will also mention the key differences between the two Accounting applications. So read along to find out in-depth information about Zoho Books vs Quickbooks.
Table of Contents
- Basic understanding of bookkeeping.
What is Zoho Books?
Zoho Books is an Online Accounting Software that companies use to manage and track their finances. The platform is offered by India-based business and productivity applications provider Zoho Corporation. The company was founded by Sridhar Vembu in 1996 and has its headquarters in Chennai and West Coast, San Francisco. Zoho Books has been recognized by the Government of India as the best application in the business category. The application can be used by companies of all sizes to meet their Accounting needs. The free plan provided by Zoho Books bags many features that let small businesses effectively run their operations without the need of upgrading to a paid subscription.
Zoho Books automates various operations like sending payment reminders and many others to optimize Accounting Workflows. As it supports GST Billing, it is suited for Indian companies. However, Zoho Books can be used by enterprises located in various countries as it can bill and account for transactions according to most of the taxation norms. It is an end-to-end Accounting Solution that caters to various needs of companies like accounts payable, accounts receivable, inventory tracking, transaction monitoring, payroll management, and many other critical tasks. Zoho Books also provides a client portal that automatically stores transaction history in a secure environment. Customers can check the stored transaction data anytime using the client portal.
The application allows companies to maintain multiple time sheets of different projects and track every individual transaction effortlessly. Zoho Books comes with its smartphone application compatible with Android & iOS that lets users manage their finances from anywhere in the world. Many industry-leading enterprises, including Sys Group, SAS, Pattra, August Infotech, Pacific Architect, and Engineers Incorporated, use Zoho Books to meet their accounting needs.
What is Quickbooks?
Quickbooks is the world’s most popular Accounting and Finance Software offered by Intuit. The platform comes with features and tools that cater to every Accounting-related need of companies. Businesses from various parts of the world use Quickbooks to monitor their finances. It is a United States-based software firm that was founded by Scott Cook and Tom Proulx in 1983.
As Quickbooks is a Cloud-based software, all the data that companies upload gets stored on Cloud servers. Companies do not need to install any specialized hardware at their workstations to use this platform. Quickbooks offers multiple functionalities other than Accounting like companies can use the software to manage employees and many other complicated tasks. Companies of all sizes and operating in diverse industries like wholesale, manufacturing, retail, construction use Quickbooks.
Companies can easily connect multiple bank accounts with Quickbooks, and the software automatically downloads past transaction details. Quickbook automates the process of segregating and organizing business transactions that helps companies save a lot of productive time. With Quickbooks, companies can easily send payment reminders to customers that help them effectively run their businesses. Quickbooks is very user-friendly software with a minimalistic-looking interface that allows individuals with no knowledge of Accounting to use the platform at ease.
Quickbooks also provides a smartphone application compatible with Android & iOS that lets users manage their companies from any part of the world with a stable Internet connection. Its mobile application exponentially increases the accessibility of the Accounting platform. Since its launch, Quickbook has kept on improving the platform that has helped them grow their customer base at a global level. According to the company, over 4.5 million companies worldwide use Quickbooks to meet their Accounting and Bookkeeping needs.
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Zoho Books vs Quickbooks: 9 Key Differences
Zoho Books and Quickbooks are the most widely used all-in-one accounting solutions globally. But when compared to each other, both the platforms have certain differences in various aspects. Below mentioned are a few key differences between Zoho Books vs Quickbooks.
1) Zoho books vs Quickbooks: Invoicing
Zoho Books provides 16 pre-built templates that companies can use to design impeccable invoices. Organizations can fully customize the templates according to their brands. With Zoho Books, companies can automate the process of sending recurring invoices to clients that helps save a lot of time and effort. The platform also provides support for retainer invoices. Zoho Books encrypts all PDF invoices that increases security and reduces the chances of any information breach. Unlike Quickbooks, Zoho Books allows companies to send a maximum of 1,000 free invoices annually with their free plan, making it popular among small businesses.
Quickbooks also offers various features that help companies effectively raise invoices to their clients. The application lets organizations create professional-looking invoices and send them to clients through multiplier channels like emails and SMS. Similar to Zoho Books, Quickbooks offers six fully customizable invoice templates to its customers. Quickbooks allows companies to place bank transfer and payment gateway links directly in the invoices. This feature helps to provide a better client experience as clients no longer need to be in touch with companies to make payments.
2) Zoho Books vs Quickbooks: Payroll
It is crucial for businesses to have a smooth and streamlined employee management system to ensure seamless business operations. Quickbooks offer payroll management features that help companies effectively manage their employees at an additional cost apart from subscriptions. With this feature, organizations can calculate the earnings of employees, deductions, taxes, and lots more.
However, Zoho Books does not offer any out-of-the-box payroll management solution. Zoho Books provides support for various integrations like Zoho Payroll and SurePayroll to let companies manage their employees. For Zoho Payroll, the company offers a 14-day trial period to let users understand the functionalities of the platform.
3) Zoho Books vs Quickbooks: Reporting
QuickBooks Online and Zoho Books both provide a plethora of reports. While both have more than other Accounting software, QuickBooks Online has more reports — more than 80, compared to Zoho Books’ 50+ reports.
4) Zoho Books vs Quickbooks: Ease of Use
Zoho Books and Quickbooks both come with a very user-friendly interface that makes them very easy to use Accounting applications. Both the applications offer a robust dashboard that displays all the critical data like cash flow, profit loss, expenses, and many more. The platforms come with a similar kind of interface with a left menu that can be used to access various modules. Zoho Books and Quickbooks are at par when it comes to their interface and ease of use. However, the simplicity and the placement of data on the Quickbooks Dashboard is easier to interpret, making it a better pick.
5) Zoho Books vs Quickbooks: Customer Support
Prompt and effective customer support service increases the reliability of any application. Thankfully, both Zoho Books and Quickbooks offer top-notch customer support service to their users. Both Accounting applications provide assistance to their customers over multiple channels including, voice calls, chat, and email. The platforms also maintain FAQ pages that customers use to resolve their queries on their own. Quickbooks offers a 24/7 live support facility to its customers, which Zoho Books does not provide.
6) Zoho Books vs Quickbooks: Training
It is vital for companies to provide adequate training to customers after they make a purchase. Zoho Books and Quickbooks offer training over various channels that helps users better understand the capabilities of the platforms. Both the applications provide video tutorials, webinars, live online lessons, and text materials to their users to learn how to use the platforms. Additionally, Zoho Books offers in-person training to customers, which Quickbooks does not provide.
7) Zoho Books vs Quickbooks: Integrations
If integration is concerned, then Quickbooks offers support for a vast range of self-developed and third-party applications that can be installed from the Quickbooks app store. Users can integrate over 650 applications with Quickbooks to increase the platform’s capabilities further. In comparison, Zoho Books offers support for a limited number of integrations. If a company is already using Zoho products, then choosing Zoho Books will be a good option for them as it seamlessly integrates with other Zoho platforms like Zoho Workplace, Zoho CRM plus, Zoho People plus, and many others.
8) Zoho Books vs Quickbooks: Smartphone Application
Smartphone applications have become essential for online software to considerably increase their accessibility. Zoho Books and Quickbooks provide their own smartphone applications to users. However, the Zoho Books smartphone application offers additional support for Windows tablets and Kindle devices apart from Android and iOS, which gives it an edge over the Quickbooks smartphone application.
9) Zoho Books vs Quickbooks: Pricing
Unlike Quickbooks, Zoho Books offers both monthly and yearly subscription plans. Users can save more money by opting for annual plans. Zoho Books offers three subscriptions, namely Standard, Professional, and Premium. Many features like the client portal, recurring invoices, automated payment reminders have been kept standard across all the Zoho Books subscription plans. The pricing starts from $20 per month (monthly subscription) and goes up to $70 per month. Zoho Books also offers a free plan that has limited capabilities. The application provides a 14-day trial period to let users get acquainted with the application.
Quickbooks offers three monthly subscription plans, namely, EasyStart, Essential, and Plus. The plans begin from $20 per month and go up to $60 per month. The most expensive plan offers additional features like inventory tracking, project profitability tracking, and various more. Like Zoho Books, Quickbooks also provides standard features like multiple bank account support and automatic transaction categorization for all subscription plans. Quickbooks provides a 30-day trial period for users to understand the platform before making a purchase.
Zoho Books and Quickbooks are both highly capable accounting solutions that provide similar kinds of features up to a certain extent. Companies opting for any of the applications will be able to effectively carry out their accounting tasks. Zoho Books is the perfect choice for businesses that are already or planning to work with other platforms offered by Zoho. Whereas companies that want Powerful Accounting software that can be seamlessly integrated with multiple third-party applications, Quickbooks will be a better pick.
It is critical to consider all of the variables before making a final decision. Choosing the right software for your team requires careful consideration, but it all boils down to finding a solution with features that meet your company’s needs. In this article, you have learned about the comparative understanding of Zoho Books vs Quickbooks.
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