Cloud Accounting Face Off
|
|
- Catherine Hutchinson
- 5 years ago
- Views:
Transcription
1 Cloud Accounting Face Off Greg
2 Who am I? Greg Lam, a Canadian living in Tokyo, Japan Also known as the Small Biz Doer Serial entrepreneur Accountex Report writer Teach people about cloud business apps
3 Agenda Defining basics and types of software QuickBooks Online vs. Xero Zoho Books Micro: FreshBooks*, Wave, Kashoo, Sage One Invoicing: GoDaddy Take Aways
4 What are the basics requirements? Accrual accounting Journal entries Chart of accounts Verification / Reconciliation
5 Types of Software Enterprise: Intacct and Netsuite Big Small Business?: Accounting Suite, Microsoft Dynamics 365 for Financials, Sage Live Small Business: QuickBooks Online, Xero, Zoho Books Microbusiness: Wave, Kashoo, Sage One Invoicing: FreshBooks* and GoDaddy
6 Let s compare the top 2 QuickBooks Online and Xero Platforms with ecosystems Pros and cons of both
7 QuickBooks Online Consumer focused Like Apple (walled garden) Huge US user base (but weak globally) Payroll and taxes
8 Xero Accountant focused Like Android (open system) Small US user base (but strong globally) International support
9 Reconciliation QuickBooks Online Slow to start but learns over time Less control More rows of transactions Xero Reconciling vs. Cash Coding Better out of the gates More control Better verification
10 QBO banking
11 QBO categorization
12 QBO auto add rule
13 Xero banking
14 Xero categorizing
15 Xero cash coding
16 QBO reconciling
17 Xero bank statement report
18 Xero bank statement page
19 Xero account transactions page
20 Who s Faster at Banking? Both similar User experience and flexibility, it s Xero
21 Invoicing and Billing QuickBooks Online Better at scheduling repeat invoices Invoices have messaging and attachments Time tracking Native payments Xero Contact groups Approval process Customer Portal Expense claims Contact page Variety of payment addons
22 QBO recurring invoice
23 QBO messaging
24 QBO time activity
25 QBO payments
26 Xero contact groups
27 Xero approval process
28 Xero customer portal
29 Xero expense claims
30 Xero contact page
31 Xero payment add-ons
32 Accountant Features QuickBooks Online Company templates Client dashboard Book to tax Write off invoices Xero Find and Recode Report codes and templates Practice manager / Workpapers / XeroHQ Fixed assets Assurance Dashboard
33 QBO company templates
34 QBO client dashboard
35 QBO book to tax
36 QBO write off invoices
37 Xero find and recode
38 Xero report codes and templates
39 Xero accountant products
40 Xero fixed assets
41 Xero assurance dashboard
42 User Interface / Navigation QuickBooks Online Friendlier Create icon has more options Better search Drilling down easier Xero Dashboard more useful and customizable Reconciliation more organized
43 QBO interface
44 Xero interface
45 Who Wins Other Categories? QuickBooks Online Sales tax Payroll Mobile Xero International Support File attachment Reliability Automation Data Import / Export Customer service
46 Who wins these? It depends Basic accounting Reports Inventory
47 Verdict QBO vs. Xero QBO is a better all-in-one solution in the US Xero is better for power-users and flexible solutions, especially internationally
48 Zoho Books Can do all accounting basics Feature set sometimes rivals and surpasses that of QBO and Xero Good customization and automation features Very open API and great data import / export capabilities Many features that could be more developed Good to use with Zoho ecosystem
49 Zoho rivals QBO and Xero
50 Zoho customization and automation
51 Zoho API and data import/export
52 Other Zoho products
53 Microbusinesss and Invoicing FreshBooks Wave Kashoo Sage One Invoicing and GoDaddy
54 Microbusiness will do the basics Chart of accounts General ledger Generate enough info to file taxes with Invoicing doesn t have those 3 things above
55 FreshBooks Redesign Moving towards bank reconciliation Other successful platform aside from QBO and Xero Excels at invoicing Customer portal and online statements Time tracking is decent Falls short in expensing
56 FreshBooks redesign
57 FreshBooks WYSYWIG invoicing
58 FreshBooks platform
59 FreshBooks expensing
60 FreshBooks invoicing
61 FreshBooks messaging
62 FreshBooks projects
63 Wave Still free but pay for premium support, payroll, merchant services Transactions Invoicing and Payments Payroll Own payment processor (well, kind of) Still no add-ons
64 Wave pricing
65 Wave support pricing
66 Wave payments
67 Wave transactions
68 Wave API
69 Kashoo Pricing at $19.95 Web app is simple yet flexible enough for the basics Missing advanced functionality No automation, so more suitable for low volumes Fully functional ios apps Small learning curve Payroll through Paychex
70 Kashoo
71 Sage One Pricing is back up $10 and $25 Basics What about Sage 50c? Bigger in non-us territories Sage Live?
72 Sage One pricing
73 Sage 50c and Sage Live
74 Invoicing and GoDaddy Payments and ecommerce $9.99 Not geared towards accounting professionals Limitations, but better than spreadsheets or piles of receipts
75 GoDaddy
76 Take Aways Pricing is trending up, need to make a profit* Payments, Payroll, and Tax are money makers Microbusiness is growing up Invoicing is the new microbusiness Niche is the use case, can t compete in general or ease of use (QBO and Xero would win) Not a huge price difference between vendors IMHO
77 Questions? Greg Lam