July 10, 2019
Zoho Books vs QuickBooks: What’s the Difference?
This is a good question and one we’re glad to answer for our clients. On the surface, there may appear to be some similarities. After all, they are both accounting tools geared toward small and medium-sized businesses. They both help businesses manage bank statements, accounts receivables/payables, invoices, and transactions.
But there is a difference, one that QuickBooks users quickly realize when they have to resort to spreadsheets and time-consuming manual processes to simply “make it work.” Zoho Books offers flexibility not seen in any version of QuickBooks. The tool integrates with numerous applications within the Zoho Suite, including Projects, Reports, and CRM. It also integrates with third-party applications, offering a seamless one-stop-shop for a business’s accounting needs.
While QuickBooks has you balancing data in spreadsheets and moving between multiple applications, Zoho Books has all of the data you need in one location.
If you’re worried about losing out on functionality when you make the switch from QuickBooks to Zoho Books, don’t be. Zoho Books offers all of the features you see in QuickBooks, oftentimes with added capabilities, permissions, and benefits.
Both applications currently offer:
Bank Feeds: You’ll find this feature under a different name in Zoho Books: “Banking.” However, it has all of the same capabilities as QuickBooks, allowing you to sync bank and credit card activity with your account.
Company Contacts: You can associate multiple contacts with a company and pick and choose who certain communications are sent to.
Zoho Invoice Integration: Both tools integrate with Zoho Invoice, allowing you to send branded invoices directly to customers and set up recurring payments. The only difference is that Zoho Invoice is built directly into Zoho Books. No need to install another application or sync data.
Recurring Transactions: This feature is especially useful for businesses that offer services via subscriptions. Even in Zoho Books, you’ll still have the ability to generate recurring expenses and send recurring invoices. Auto-charging is also available.
Multicurrency: Businesses that deal with international customers have no need to worry. They can connect unlimited bank accounts in any currency they require.
Sales Tax: No need to do the math! Both applications handle sales tax calculations on your behalf.
At a basic level, QuickBooks offers many of the same features as Zoho Books. However, you don’t want a basic program. You need a program that is flexible enough to grow with your business and detailed enough to provide you with real-time reporting on your financial future. This is where Zoho Books excels.
The Client Portal: The Client Portal is what makes Zoho Books outshine QuickBooks. Customers can log in, see present and past invoices, make payments through nearly any method (cash, check, or online), and view their transactions and other activity. They can see whether invoices are overdue, see whether they have any payments coming up, and even comment on invoices.
Sales Orders: Waste no time in sealing a deal. If a customer approves an estimate, you can turn it into an immediate sales order.
Retainer Invoices: Some businesses and customers work with retainers, instead of month-to-month invoices. Zoho Books understands this, allowing users to set up retainers and apply them to future invoices. There’s even the capability to send alerts to clients after their retainer has been used.
Purchases: Every purchase you or your team makes goes through an automatic approval process. This helps validate these purchases and keeps them error-free.
Time Tracking: Thanks to an integration with Zoho Projects, you can provide your customers with ultimate transparency. You can sync project management details, including billable and non-billable time, task lists, and more.
Workflows: When it comes to any Zoho product, automation is key. Save time by building workflows that customize your email content, update important fields, and even send notifications to clients.
There’s a very small learning curve when it comes to these new features…especially if you have a Zoho Books partner by your side.
To learn more about how Zoho Books can help your business streamline its accounting processes, contact our certified Zoho development team today.
STAY UP TO DATE WITH KDG
Subscribe to our blog and know when we publish new posts.