After researching each product extensively, we awarded each piece of software a five-star ranking for each category. This makes it the best option for businesses looking to keep expenses low year-round. There’s a lot to iron out when it comes to these providers, so scroll down to see how they compare on accounting features, price, support options, and more. Chargebee’s Xero integration is a powerful connection between Chargebee’s subscription management engine and Xero’s accounting platform. It allows you to automate your reconciliation with a single click and access all of your data on the go from the cloud. Invoices, payments, and more can be automated, passing from Chargebee into Xero with no effort on your part.
This includes popular services like Hubspot, Mailchimp, Outlook, and Stripe, to name a few. Sage allows you journal entry for depreciation to manage your project budgets by entering descriptions as well as start and finish dates. You may track all expenditures and earnings for each project, resulting in a completely configurable project accounting experience. This is also an add-on service that must be paid in addition to your Sage subscription.
Project Management
Not all accounting software solutions offer inventory management, however, and some that do offer it only with their higher-tier plans. The higher-tier Accounting plan includes cash flow forecasts, profit analysis, accounts payable aging reports and stock movements. For comparison, accounts payable and receivable reporting requires the Essentials version of QuickBooks Online ($60 per month). Unlike Xero and Sage, FreshBooks also offers robust inventory management tools on its lowest tier, which suggests the software will be especially useful to online retail stores and food delivery businesses.
Accounting software
If you’re a beginner who just needs simple software they can onboard fast, Sage is a great pick. If you’re after a more modern interface, Xero might be better. While the app is intuitive and well-structured, there’s a bit of a learning curve, especially for beginners. Once you’re familiar, though, navigating becomes much smoother.
Xero and Sage: Feature Breakdown
- Both offer user-friendly, comprehensive accounting tools and services for businesses of all sizes, including payroll, invoicing and expenses.
- It also integrates with over a thousand apps, meaning if you can’t find a native feature you need, you can likely add it on.
- Sage is slightly cheaper than Xero if you’re only looking for payroll services.
- Xero offers three pricing plans, for which you’ll pay anywhere from $25 to $54 a month.
Because both software come with a 30-day free trial, you’ll have plenty of time to give each a test run before committing. However, maximum rows and columns in excel worksheet there are some key features missing from Sage, including bill pay and time tracking. While Sage does offer accounts payable, it seems you still have to manually pay bills from your bank account. Sage does have the upper hand against Xero when it comes to quotes and invoices, as well as multi-currency support.
If you’re a larger company, you might want to look into the Accounting plan, which comes with unlimited users. Integrations enable your accounting software to work in tandem with other tools you might already be using. By integrating services, your tools can communicate seamlessly with one another, and you won’t have to spend valuable time exporting data from one platform and importing it into another. Your accountant is one of your company’s most crucial financial partners. So, it makes sense that they would need access to your accounting software.
Xero Accounting Software
You can integrate your accounting software with Wise which means that you can use your Wise multi-currency account to automate international transactions and sync them to your accounting records. You can do it all through Xero, including seeing the status of Wise payments and reconciling bills and payments within your Xero account. Xero also offers quite a unique add-on feature with its software, which could make managing international transactions much easier. With so many similarities between the two, you’ll need to look closely at the features available with each plan to find the right solution for your business. We’ll look at these in more detail below, before moving onto a quick price comparison. While Sage Accounting doesn’t offer this feature, you’ll need to explore Sage 50cloud for a comparable is retained earnings a debit or credit function.
Hubdoc makes it easy to capture receipts, helping you see upcoming bills and set up batch payments. In our Xero vs Sage comparison, we explore these popular solutions in detail. Both made our top accounting software list because of their strong invoicing and bank reconciliation features.
