Conroy Johnson 8 months, 3 weeks ago
Trying to select the best cloud-based solution for my business
I am trying to decide on which cloud based accounting solution to select.
I am interested in AR, AP, GL and Invoice generation/Sales. Cash flow projection as well as the ability to produce a full set of financials is desirable.
I need a subscription-based setup and I would like you to advise me on the way forward.
How do I proceed?
Thank you#352846This question came from Sage Business Cloud Accounting User Reviews & Pricing.5 Replies
Crystalynn SheltonParticipant8 months, 2 weeks ago
Hi Conroy, thank you for your question.
Without knowing what your business is, I will have to base my recommendation on the things you would like the software to do: A/P, A/R, G/L, invoices, cash flow projections and financial statements. The best cloud-based product on the market is QuickBooks Online. If you don’t need to track inventory and you don’t hire 1099 contractors, sign up for the QuickBooks Online Essentials plan. However, if you do need to track inventory and 1099 contractors you will need to sign up for the Plus plan. You can learn more about these plans and how you can save up to 50% off a subscription in our QuickBooks Online comparison article:
To get up to speed quickly on how to set up QuickBooks Online for your business, check out our free QuickBooks Course.
Best of luck,
Crystalynn Shelton, CPA
Iain RogersParticipant8 months, 2 weeks ago
Both Quickbooks Online and Xero are great software to use. Choosing one or the other will depend on your specific business need. We would need more information to help you.
You also have the option to contact an accountant consultant that will help you define what software is the best for your business, as well as take care of the implementation.
Hunter HeardParticipant8 months, 1 week ago
Akshay ManeParticipant7 months, 4 weeks ago
The main difference between Xero vs QuickBooks hosting Online is that Xero is still catching up to some of QuickBooks Online’s functionality, like mobile functionality, ease of use, and general feature availability. However, Xero is known for its simplicity, and their newly formed aggressive development schedule, offering new features and functionality at a fast pace.
For Bank Feeds, With Cloud based QuickBooks you simply add a new account right from the online banking dialogue in the Account drop-down and with Xero you have to go back out to the chart of accounts, add the account, then come back and add the transaction from online banking.
Personally, I would recommend sticking with the Hosted QuickBooks Desktop version.
Ben WebbParticipant7 months, 3 weeks ago
As stated in the other replies we would definitely need to know more about your business so without assuming anything I would have two recommendations.
If you are strictly looking for an accounting solution with basic needs I would as well recommend QuickBooks. Simple enough to use at a reasonable price point, it can be a very efficient tool for the needs you’ve mentioned. Be mindful of the current growth rate and/or goals of your business though. Quickbooks can, for growing companies, at one point become a hindrance rather than a benefit. It doesn’t sound like you’re to that point yet but food for thought.
If/When you are reaching that point you’ll want to look into a Cloud ERP (Enterprise Resource Planning) solution. A quality ERP will offer what you’re looking for in accounting as well as several other aspects of your business. The industry you’re in would play a factor in what software platform would be the best fit but something like Microsoft Sage or SAP Business One would be something to look into both offering Cloud solutions and options to adapt and grow with your business.