Customizable fields, project statuses, reports, and purchase orders place a strong focus on profitability. WorkflowMax can keep track of clients, leads, purchase orders, documents, capacity, and a wide range of other business factors. In fact, you can subscribe to WorkflowMax without using Xero at all (though the integration between the two is one of the things that makes it so useful). WorkflowMax, Xero's fully featured project management system, is built for larger businesses.
It tracks time and costs on every job: You can assign invoices, costs, fees, and other relevant items to each project. It's currently free, though Xero has implied that it will likely cost about $25 per month. Xero Projects is the smaller-scale option.
But Xero actually has two different sets of project management tools built in to the platform:
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And if you're subscribed to QuickBooks Online at the Essentials or Plus levels, you can use the built-in time-tracking features. In FreshBooks, you can add projects, set your hourly rate for that project, track your time, and communicate with your team if they're also using FreshBooks. When it comes down to it, Xero is the clear choice for integrating project management with your accounting software. If the two can integrate, that's one less step you'll need to take. And even if you don't need project management capabilities in your accounting software, there's a good chance you could be using other project management software. While project management isn't a core part of accounting, it's a big help when you're charging by the hour, keeping track of time spent, or calculating your capacity. Reports are instantly created in-window, and you can email, print, and share them with just a couple clicks. There are dozens of different reports in the categories of Sales, Customers, Accounts Due, Payroll, Expenses, and a variety of others. Aside from changing the timescale on some of the categories, you're stuck with the current charts and layout.Īs for reports, you'll find just about anything you could want for a small business. QuickBooks' dashboard contains information on invoices, expenses, bank accounts, profit/loss, and sales-but it isn't customizable. It's not nearly as much as the competitors offer, but it will be more than enough for freelancers and very small businesses. You can run seven downloadable reports from your dashboard (the Premium and Plus plans offer an additional two): profit/loss, tax summary, accounting aging, invoice details, expense report, time entry details, and payments collected. The inspirational quotes are a nice touch. It involves some account maintenance, exporting, and importing, but the process is relatively simple-and it brings over all of your information. It doesn't get much easier.īecause Xero and QuickBooks are two of the biggest names in online accounting, Xero is doing what it can to convert QuickBooks Online customers into Xero customers: It provides instructions for easily converting from QuickBooks to Xero.
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Download the templates, get your data from your previous client or spreadsheet into the right format, and reupload it. With its Excel templates, you can import just about anything into Xero, from customers to invoices. The setup wizard is a big help, though, and makes the process much easier.
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Xero: Seamlessly import your dataīecause the software as a whole is more complicated than the other two options, there's more to set up in Xero. QuickBooks offers a few options for importing Excel sheets, but if you want to import a large amount of information (like previous invoices), you'll want to expand your integration options with Zapier. Or you can jump to our comparison table to see all the features at a glance. Click on any feature below to jump to the section that's most important for your business. For this comparison, we looked at five factors-plus a number of bonus features-that are relevant for small business owners.
What We Looked ForįreshBooks, QuickBooks, and Xero all have the basic features you'd expect from business accounting software, but they still have very different takes on the process. They each offer unique benefits, so to help you choose, we'll take a look at the features of each and how they stack up against one another.
How do you know which features and benefits you need? Which price structure best fits your business? FreshBooks, QuickBooks Online, and Xero are three of the biggest names in the online accounting business. Online accounting software helps-but choosing the right software can be difficult. It's time-consuming, doesn't bring in money, and requires headache-inducing calculations. Almost half of small business owners despise bookkeeping.
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