NetSuite vs QuickBooks Online Comparison for 2021

Oracle’s NetSuite and Intuit’s QuickBooks Online are two popular accounting solutions that are offered by major software providers. Tailored to midsized and larger businesses with multiple locations, NetSuite has a customer relationship management tool and many other integrated solutions. However, it comes at a price: the base licensing fee for NetSuite starts at $999 per month, and there is also a $99 per month user fee. For 25 users, that works out to $3,474 per month, as compared to $180 per month for QuickBooks Advanced, which also allows 25 users.

Because of its complex offerings and high price tag, NetSuite is not an ideal choice for small businesses that have basic bookkeeping needs. While QuickBooks is great accounting software for businesses of different sizes, NetSuite is the better choice for international businesses that are looking for an enterprise resource planning tool that will transition with them as they grow.

When to Use NetSuite

NetSuite is software-as-a-service (SaaS) that combines accounting and enterprise resource planning (ERP) programs, customer resource management (CRM) tools, and e-commerce capabilities in a single packaged offering. With NetSuite, users from different departments, such as sales, accounting, and support, access customer information through a single record, eliminating data inconsistencies. It is ideal for midsized and large businesses, manufacturers, and companies that have more complex needs like inventory management.

As part of its robust ERP offering, NetSuite offers an intuitive cloud-based financial management system that allows businesses to track their financial data and automate many essential accounting functions. If your business wants to expedite its accounts receivable (A/R) and accounts payable (A/P), accelerate deal closings, and keep up with financial compliance obligations while also taking advantage of a full suite of powerful business management features, this is an ideal accounting solution within an ERP platform.

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When to Use QuickBooks

QuickBooks Online is a cloud-based accounting software that is an excellent choice for most small businesses including e-commerce retailers, service providers, and real estate businesses. We have selected it consistently as the best small business accounting software because of its flexibility, ease of use, and robust features including a mobile app and add-ons like payroll and time tracking.

QuickBooks Online also offers strong reporting and inventory capabilities, customizable invoices, and more than 650 integrations. If your business works with 1099 contractors, you can track 1099 payments and process 1099s. Property management companies will also like its ability to track activity by class and location.

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If you’re looking to learn more about other QuickBooks alternatives, such as Sage50 Cloud, check out our top recommendations.

Compare NetSuite and QuickBooks at a Glance

NetSuite Pricing vs QuickBooks Pricing

QuickBooks Online offers five subscription plans that range from Self-Employed for one user with basic features to Advanced for up to 25 users and more complex features. Its pricing is laid out with the features that are available for each level, whereas NetSuite’s pricing must be obtained with a customized quote that is based on the size of your business and the various modules that will be used.

NetSuite Pricing

Because ERP platforms can perform a wide range of complex business management functions, they are typically priced on a custom basis. Factors like business size, annual revenue, and desired features all affect the cost of the software. This is true for NetSuite and, to obtain an accurate price estimate, you’ll need to contact an Oracle sales representative who will walk you through the available features of the platform, including inventory management, financial management, point of sale (POS), CRM, and human capital management software.

According to Better Buys, NetSuite has a base price of $999 per month plus $99 per month, per user.

QuickBooks Pricing

QuickBooks offers a choice of five subscription plans for different needs. Below are the prices for each:

• Self-Employed: $15 per month for one user
• Simple Start: $25 per month for one user
• Essentials: $50 per month for up to three users
• Plus: $80 per month for up to five users
• Advanced: $180 per month for up to 25 users

Self-Employed is not a double-entry bookkeeping system and, therefore, can’t be upgraded to any of the other plans. Be sure self-employed will satisfy all your current and future needs before subscribing.

QuickBooks Pricing and Tiered Features

Takeaway: NetSuite is much more expensive than QuickBooks Online, but is targeted toward larger companies that are seeking a complete ERP system vs only accounting software.

NetSuite vs QuickBooks: Features

Both NetSuite and QuickBooks excel in the realm of bookkeeping, but what distinguishes NetSuite is its additional functionality, such as ERP, consolidations, and integrations. NetSuite allows you to manage your A/R and A/P, integrates with your financial institutions, and allows for multiple users. It also offers an extensive catalog of reports that includes parent and subsidiary reports that can be viewed in the home currency or the currency where the subsidiary is located.

Both NetSuite and QuickBooks Online allow you to track fixed asset purchases, but NetSuite has a dedicated module that tracks the asset value, depreciation expense, and useful life of an item. This is a useful feature because with QuickBooks Online you need to manually calculate depreciation expenses outside of the software and record it as a journal entry. Another one of NetSuite’s useful features is its built-in technology that gives you access to more than 75 key performance indicators (KPIs) that are customizable to each employee’s dashboard, such as sales, open balances, and receivable turnover for a collections specialist.

Takeaway: While both NetSuite and QuickBooks Online offer a powerful set of features, NetSuite pulls ahead with a larger selection of reports, KPIs, and ability to automate fixed asset purchases. This is ideal for businesses with multiple locations or the need to manage user restrictions for employee roles. NetSuite’s inventory management offerings are more complex than QuickBooks Online’s, making it ideal for manufacturing and product businesses.

NetSuite vs QuickBooks: Ease of Use

The dashboards for both NetSuite and QuickBooks Online are customized based on the user’s access privileges. While both offer a variety of useful reports, the quantity and complexity of information offered by NetSuite can be a bit overwhelming. Its user interface also has a steeper learning curve, making QuickBooks the more attractive option in terms of ease of use, especially for novice users.

NetSuite Ease of Use

New users may be a little intimidated by NetSuite’s dashboard because of its vast quantity of information. But while the information available to you depends on your user access rights, the format stays the same. Menu tabs across the top allow you to navigate to different sections of the program, such as expenses, reports, and payments.

1. Reminders: This list shows action items that require attention, such as open purchase orders (POs) or periods to close.
2. KPIs: This section looks at your income, profit, expenses, A/Rs, A/Ps, sales, sales orders, and your bank balance over a specific period of time and shows the percent change for each, allowing you to monitor the financial health of your business.
3. Operating Cash Flow By Period Trend: This information is revealed in graph form, allowing you to customize it over a specified period of time.
4. Monthly Estimated Commission Trend: Also shown in graph form, this report shows how commissions change from month to month.
5. General Accounting: Separated into Transactions, Lists, and Reports, this section has clickable links that will take you to different sections of the program such as the chart of accounts and journal entries.
6. SaaS Metrics: This is a summary of various aspects of your business over a period of time, including the number of new customers, new business bookings, average selling price, and churn rate.
7. Top 10 Customers by Balance: This section shows the A/R Aging Summary, in order of your top 10 customers.

QuickBooks Ease of Use

The QuickBooks Online Dashboard is similar to NetSuite’s in that it provides access to quite a bit of information on the initial home screen. Instead of menu tabs across the top of the screen, QuickBooks has a left menu bar that allows you to navigate to different areas of the program. You’ll notice that the layout for each differs, and the QuickBooks Online’s dashboard is not as cluttered. Some of its features may need to be activated from within Settings.

The dashboard gives you access to your account balances, income and expense reports, and graphs that illustrate the financial health of your business. The navigation bar on the left has tabs that take you to each section: Transactions, Expenses, Sales, Cash Flow, Projects, Payroll, Reports, Taxes, Mileage, Accounting, My Accountant, Capital, Apps, and Live Bookkeeping. Payroll and Live Bookkeeping are optional services that are available for an additional fee.

1. Left Navigation Bar: Each of these tabs will take you to a different function, such as invoicing customers, generating reports, and tracking projects.
2. Cash Flow: This report shows your income, cost of goods sold (COGS), and expenses, and is customizable by time period.
3. Income: This section shows all items related to your income, such as past-due invoices, and you can also view your A/R report here.
4. Expenses: Your expenses, broken down by category, can be viewed here.
5. Profit and Loss: You can generate a customizable profit and loss (P&L) statement in this section.
6. Sales: Presented in graph form, you can view your sales over a specific time period, such as the fiscal year-to-date.
7. Bank Accounts: View a summary of your bank balances here. Both your bank and QuickBooks balances can be accessed once you connect your online bank and credit card accounts.

Takeaway: While both NetSuite and QuickBooks Online have an extensive dashboard that provides a lot of information, NetSuite’s is more advanced and can be a bit intimidating to new users. NetSuite’s ability to track KPIs and to view trends over a specified period of time, make it a more attractive option than QuickBooks Online which only offers this with its Advanced plan. Both allow you to set privileges to determine what information users have access to. Reports such as A/R Aging and Cash Flow are available on the dashboard for NetSuite and QuickBooks Online.

NetSuite vs QuickBooks: Assisted Bookkeeping

As compared to QuickBooks, which has its own virtual bookkeeping service called QuickBooks Live, NetSuite users will likely have to rely on outside bookkeeping firms for assistance. While QuickBooks Live bookkeepers won’t handle many of the day-to-day bookkeeping tasks, they will help with setup and cleanup to help you stay organized.

NetSuite Assisted Bookkeeping

NetSuite doesn’t offer its own version of assisted bookkeeping support like QuickBooks Live’s team of virtual bookkeepers, but many outside bookkeeping and accounting firms provide services for NetSuite users. One such firm is Cogneesol, which provides end-to-end accounting services on the NetSuite accounting software. These services include A/R, A/P, tax preparation, and extensive reporting. Cogneesol also supports other modules, such as purchasing and vendor management, fixed asset management, and inventory control. Because each business’ needs vary depending on the modules used, a customized quote is provided upon request.

QuickBooks Assisted Bookkeeping

QuickBooks users that are looking for bookkeeping support will find it with QuickBooks Live, which matches you with a dedicated virtual bookkeeper. While the service doesn’t include some of the day-to-day bookkeeping tasks, such as A/R, A/P, invoicing customers, and inventory management, it does include monthly financial reports and monthly video calls that allow you to ask questions and analyze report data. Upon signup, your bookkeeper will work with you to get your books up-to-date and set up your chart of accounts and bank connections. Monthly bookkeeping starts at $200 per month. One of the most attractive features of this service is its 100% Accurate Books Guarantee.

Takeaway: QuickBooks Live is a virtual bookkeeping service for businesses that need assistance with setup and financial reports. NetSuite does not have a similar offering, but it is possible to find outside bookkeeping and accounting firms that specialize in the software.

NetSuite vs QuickBooks: Integrations

NetSuite offers seamless integrations with all of its ERP solutions and integrates with many leading business software providers. If you use other vendors to manage your operations, you can use NetSuite’s open APIs to introduce new integrations. However, QuickBooks Online has hundreds of third-party integrations available and also two that can be accessed directly through the software.

NetSuite Integrations

Because it is integrated from end to end, NetSuite reduces the need to connect ERP, CRM, and ecommerce applications. However, it offers additional solutions by teaming up with third-party integration providers to create SuiteCloud Connect, a series of packaged solutions for integrating with leading enterprise applications and systems like Salesforce SAP, Oracle, and Google Apps. NetSuite also offers training courses and consulting services for users who require assistance and support with integration projects.

QuickBooks Integrations

QuickBooks Online has integrations with more than 650 business apps, and there are two integrations that can be accessed directly within the QuickBooks Online app. These are the payroll and timesheet functions, which are described below:

• QuickBooks Payroll: With this feature you can pay and manage your employees all in one place. You’ll have access to payroll, tax filing, health benefits, workers’ compensation, and other human resources (HR) functions.
• QuickBooks Time: Automate your time tracking from within QuickBooks Online by allowing employees to track their time from any location on any device. This information will sync with your QuickBooks account in real-time, simplifying your payroll.

Here’s an example of available integrations for QuickBooks Online:

• Customer management: Insightly, Method:CRM, WORKetc, and Aero Workflow
• Sync data: ReceiptBank, Plooto, Hubdoc, and AutoEntry
• Inventory management: Shopify, erplain, TradeGecko, and SOS Inventory
• Budgeting/forecasting: Budgeto, Fathom, Qvinci, and Cash Flow Frog
• Payroll: Gusto, Square Payroll, Wagepoint, and RUN Powered by ADP
• Ecommerce: Freedom Merchants, Stripe by Connex, and PayTraQer

Takeaway: QuickBooks Online has more than 650 integrations available, with two that can be accessed directly through the software. Meanwhile NetSuite has the majority of its integrations built into the software, with the option to access more with SuiteCloud Connect, which has limited offerings.

NetSuite vs QuickBooks: Mobile App

Both NetSuite and QuickBooks have their own mobile apps that are available for both iOS and Android and are quite rigorous in their capabilities, although NetSuite’s user interface is much more complex.

NetSuite Mobile App

NetSuite’s mobile app features easy expense reporting, call logging, and time tracking in a mobile interface that is filled with mobile dashboard portlets and KPIs. Available for both iOS and Android, the applications are designed with a mobile-first user interface for key workflows, and support push notifications for time-sensitive actions, allowing users to streamline work on the go. The app also provides instant access to recent records saved searches and the ability to customize reports by adding fields, grouping levels, and customizing formulas.

QuickBooks Mobile App

QuickBooks Online also offers a robust mobile app for both iOS and Android users, with the ability to record expenses, invoice customers, enter transitions, and send reports. If you’re an Android user, you can also send invoices via WhatsApp. When a customer views or pays an invoice, you’ll receive an instant notification. The QuickBooks app also turns your phone into a receipt scanner, which will record the billable expense in your books and attach your receipt to the invoice for reimbursement.

Takeaway: While both NetSuite and QuickBooks offer powerful mobile apps, NetSuite excels in this category with its more extensive user interface (UI) that features KPIs and its strong report customization options.

NetSuite vs QuickBooks: Customer Support

In addition to their extensive knowledge bases, NetSuite and QuickBooks offer live support options for their customers in the form of phone and chat. They also both have extensive help resources that include community forums, video tutorials, and webinars. However, while NetSuite’s customer support is offered 24/7, QuickBooks’ phone support is limited to regular business hours.

NetSuite Customer Support

NetSuite offers top-notch customer support across its entire ERP platform, including its financial management solution. It offers 24/7, real-time support via phone, email, and a built-in chatbot on its website. The automated chat functionality can answer simple frequently asked questions (FAQs) or connect you with a customer service representative.

All NetSuite subscriptions include Basic Support, with Premium and Advanced Support available to meet additional support requirements. Each option provides specific service levels and capabilities, from online case submissions to performance monitoring. Every user has free access to a searchable knowledge base and support community that includes support articles and training videos.

QuickBooks Customer Support

There are several ways to obtain support for QuickBooks Online, both within the program and on its website. The most comprehensive information can be found in its searchable knowledge base, which has help pages, video tutorials, webinars, and paid courses. You can also click on the “Contact us” button at the bottom of the help window to contact the support team. Another option is to post a question in the community forum or message an agent. The two drawbacks to the support offerings for QuickBooks Online are that agents are not available 24/7, and it is not possible to call QuickBooks Online directly as you’ll need to submit a request for them to call you.

QuickBooks Online also has a help button in the top right corner of the software. You can also enable the QuickBooks Assistant in QuickBooks Labs, which is an artificial intelligence (AI) live chat that assists with such questions as “which customers are late with their invoices?” Another option is to search for and hire a QuickBooks Pro Advisor or consider signing up for QuickBooks Live, which provides online bookkeeping support for an additional fee.

Takeaway: Both NetSuite and QuickBooks offer a variety of support options, which include phone, chat, and email support, a searchable knowledge base, a community forum, video tutorials, and webinars. One major difference between the two is that NetSuite offers 24/7 phone support while QuickBooks Online doesn’t allow for direct phone calls, instead requesting that customers submit a request to be called.

Bottom Line

QuickBooks Online is best suited for small businesses in a variety of industries and its software is both easy to use and scalable. While NetSuite has most of its integrations built into different modules, such as inventory management and bill payment, QuickBooks Online relies on its integrations with hundreds of third-party apps to achieve many of the same functions.

Because of its high price point, NetSuite is not well-suited for a small business with basic accounting needs. However, if your business is growing internationally and you anticipate needing an ERP platform to manage everything, it could be an excellent solution that sets you up for success.