xero accounting software vs quickbooks online

If accepting recurring payments or setting up subscriptions is vital to your business model, you should seriously consider Wave. While QuickBooks also offers this functionality, Wave’s subscription payments are actually more robust. If you need to send many invoices or make a lot of customizations, you may find it challenging to use.

While Xero doesn’t charge an invoicing fee, their features are the most basic. For example, 1% of a $50,000 invoice is $500 - a substantial sum. This doesn’t seem like a lot, but if you send large invoices, it adds up quickly. However, they are the only platform that charges a 1% fee for all invoices. You can even turn estimates into invoices and send them in any currency. Wave’s invoicing features are also excellent. These features are a big timesaver for a fast-growing company. You can send custom invoices, set up recurring invoice templates, match payments, and even batch invoicing (on the advanced plan). QuickBooks has the most intuitive and advanced invoicing features.

QuickBooks has the most robust accounting software overall.Īll three platforms have the ability to create, manage, and send invoices.

Xero has strong inventory and sales tax features.

Wave is great for invoicing and subscriptions.

The key features you need will vary depending on the systems and processes of your business.

Xero accounting software vs quickbooks online