QuickBooks Vs Excel: for your Small Business Bookkeeping

Quickbooks Vs Excel For Small Business

There are gazillion complaints about this and now they even require people to log in to create a company file on your desktop software. If someone wants to transfer his data to Intuit they would use QB online. While you can block it with a firewall many things don’t work anymore. Both QuickBooks and Xero are excellent accounting systems for small businesses, and customer reviews reflect how well the software providers understand their audiences. For freelancers and other small businesses that want all of the key features of accounting software at a budget, QuickBooks is a great choice.

  • Those hours are hard to quantify but crucial to your sanity.
  • With these templates, you can prepare your company’s balance and collect all the important information about sales, the amount of money invested, and purchases.
  • Sage is an ideal alternative to QuickBooks if you are looking for an affordable way to manage your small business.
  • However, the user does point-out user experience issues as far as creating charts.
  • You can send invoices and quotes, enter bills and reconcile bank transactions for $30/month.

Zoho Books offers a 14-day free trial and three pricing plans based on the number of users, customers, vendors and features. The price starts at $9 per month, which offers value comparable to the Start plan costing $25 for QuickBooks. Zoho Books is full-featured software with powerful accounting functionality, advanced features and strong invoicing available at half the cost of QuickBooks. Despite its low price, the program gives you access to some of the most desirable features you would find in the expensive solutions. Do you want access to the transactions you have stored in online financial accounts ? Enter your login credentials for that account and the small business accounting site will import recent transactions, usually 90 days’ worth, and add them to an online register. Banks have been tightening up their security , but you may have to jump through a couple more hoops to get connected.

You’ll wind up with dueling spreadsheets

As a cloud-based system, company data is automatically backed up and synced across devices. Users can access it from their laptops and mobile devices to enter transactions, manage accounts payable, and send invoices from any location. It uses double-entry bookkeeping and keeps records in accordance with FASB to ensure balanced books come tax time. It can also auto-generate financial statements and business reports, as well as send reports by email on set schedules.

Quickbooks Vs Excel For Small Business

The plans are more expensive, ranging from $25 to $180 per month. With Xero’s fixed assets management, you can easily record and track assets like vehicles, hardware, machinery, and office equipment, and stay updated on the value of your business assets anytime. QuickBooks is prominent among accounting software providers, with an intuitive interface, robust features and extensive third-party integrations. When you consider programs for your small business, your first thought may well be the QuickBooks accounting software. Xero and Sage, among other accounting software solutions, serve as alternatives to QuickBooks. These five accounting software solutions are strong alternatives to QuickBooks.

Symptoms of a Company Looking for the Best Alternatives to Quickbooks

With QuickBooks, data can become buried within multiple systems that don’t communicate competently with one another. Rather than spending time on analysis and decision-making, employees have to hunt for data. Oftentimes, the data they are hunting for is out of date or incomplete because it comes from various locations.

It will be easier for you to obtain the essential information and will assist in your judgments with strong filtering and sorting capabilities that allow you to sort out a big volume of data. Filtering also helps to save time and effort by removing redundant data. With an accounting system like Quickbooks, you can easily work on your accounting on the go using a tablet or a smartphone. Quickbooks offers an audit trail so you know who’s making changes to your books and when, while Excel is DIY and offers no electronic record.


Every time a transaction occurs, record it in the Transactions sheet and then categorize it appropriately . Transactions – this is where you record details of every transaction that your business performs. Some information to capture includes the date, description, account and amount of the transaction.

  • For companies that need more than the standard Xero and QBO reporting can offer, they can make use of add-ons and integrations with both apps.
  • Excel was not designed with any sort of process or line of thought in mind.
  • You can put both side by side in Excel and quickly scrutinize any discrepancies.
  • They frequently have to enter Excel data into bookkeeping software such as QuickBooks.

Even better news – when it’s time for reporting or taxes, you don’t need to do anything. There’s nothing to clean up, receipts to dig up, or check registry’s to copy over. Your accountant can be added to your reporting so that they can download your reports.

Sage: Most versatile QuickBooks alternative

All the accounting services included here let you add customers, vendors, and products during the process of completing transactions . You just have to decide whether you want to spend the time upfront building your records or take time out when you’re in the middle of sales or purchase forms. Sunrise is a good choice for freelancers and sole proprietors who need to track income and expenses and invoice customers. It might also appeal to small businesses that need double-entry accounting but not time tracking, robust reports, or full mobile access. Income statement – this section uses information from your transactions worksheet to calculate how much money your business has earned and spent over a specified period of time. You can then use that information to create a cash flow statement and ultimately other financial reports like income statement and balance sheet.

Quickbooks Vs Excel For Small Business

QuickBooks provides a lot of features that are not available in Excel but it doesn’t mean that Excel for personal use cannot be useful as well. For example, one of the features included in Excel is pivot tables to create more extensive and complex data sets. Both QuickBooks and Excel are considered two of the most powerful software solutions in the world. But they are designed to solve uniquely different problems. Excel is a spreadsheet-based tool, and spreadsheet-based programs aren’t the easiest to use. They’re out-of-date and potentially difficult for your business.

I Which is better for my business: Microsoft Dynamics 365 or QuickBooks?

You can be charged a bumper while filing your taxes if your cash flow management has been managed in a disorganized and careless manner. Switching to new trends and investing in creative accounting software like QuickBooks would help you dodge that risk. Steph’s Books offers various QuickBooks-certified services to prepare you for financial success. Get trained by a certified QuickBooks ProAdvisor who can help you customize your QuickBooks account and prepare you to manage your finances confidently. During your one-on-one training, you’ll receive hands-on experience with the program to find the most efficient and convenient setup for your business. Our QuickBooks expert training can get you up to speed quickly so you can tackle it yourself in the long run.

Working with Excel is problematic for accounting professionals. They frequently have to enter Excel data into bookkeeping software such as QuickBooks. The audit trail in QuickBooks is one of the software’s major flaws. Accountants and entrepreneurs prefer a company’s financial information flow to be detailed and well-documented. Although most data Quickbooks Vs Excel For Small Business in QuickBooks have an audit trail, there are few instances where financial data can be modified without generating any evidence. It was immediately praised by small business owners with accounting backgrounds after its launch. QuickBooks, on the other hand, was first criticized by accountants due to its lack of safety and general sturdiness.

That’s how you ‘ll understand the difference between excel vs quickbooks for small business. Organized records let you plan your business cash flow easily.

However, they are premium software that will eat into your business income. That’s something to keep in mind before upgrading from Excel. Check out our Perks to claim up to 50% off and enjoy business accounting software at a discounted price.


The author also here assumes you have all data in one spreadsheet and claims things like you cannot expand or collapse an Excel table. Did he missed by any chance that you can have as many tabs you want in a book or even links different books together, even from different cells? I can click a cell and automatically jump to another tab or even another Excel file or even another software on the computer or website! With enough time and resources, you can build something that mimics or clones QB functions and as opposed to QB they work in a stable way. QB is one of the most buggy and unstable software’s I have used over the years. They still win the price on bad software, even YouTubers claiming how horrible it is and how its this way since a decade or more.

Is Excel Good for bookkeeping?

Some pros of using Excel for bookkeeping include: You can generate financial reports and statements. You can tabulate and compare financial data between different periods to evaluate your business's operations. You can also record other data, such as a list of suppliers and customers and update it regularly.

Getting QuickBooks set up is fairly straight forward out of the box and most people can be up and running in about 60 – 90 minutes. Not bad considering that it can take almost the same time find and correct a couple formula errors in Microsoft Excel. There are also usually promotions that Inuit itself or your merchant services company can extend to you so that you can get the software for less that retail. Once you get the hang of it you will be off and running and never look back.

If you are looking to save time and cost by integrating your bookkeeping, merchant services and point of sale (POS)

As mentioned in the previous paragraph, the Excel format is useful for large amounts of information. But it’s not very helpful when it comes to interpreting the data. In fact, Excel relies on visualization tools like tables and graphs to interpret data.

  • You can also move to Access in the future and hire a developer if you want an interface more like QB that is more visually friendly and click and point.
  • Something like Excel is the most business established software in the planet.
  • Sunrise is a good choice for freelancers and sole proprietors who need to track income and expenses and invoice customers.
  • You can also offer customers self-service access to real-time insights on purchase orders, inventory levels and payment information.
  • No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation.