QuickBooks Online is accounting software designed to help small businesses manage assets, liabilities, equity, income, and expenses, while Excel is a spreadsheet program for data organization, analysis, and visualization. You can use QuickBooks Online for accounting right out of the box, but with Excel, you have to have the expertise and time to set up…
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Sage 50 vs QuickBooks Online Comparison
QuickBooks Online is easier to use, is more affordable for most small businesses, and has a larger support network in the form of QuickBooks ProAdvisors than Sage 50 (formerly Sage 50cloud). Meanwhile, Sage 50 is a bit more complicated, but it offers more enhanced inventory management features and multi-company support than QuickBooks Online. Based on…
Guarantor vs Cosigner on Leases: What’s the Difference?
When signing a lease, a guarantor or cosigner may be required as part of entering a financial agreement. This is a common request and is typically required of borrowers with less-than-ideal credit or finances. The difference between a guarantor and a cosigner typically lies in the level of responsibility required of each. Essentially, both options…
Zoho Books vs QuickBooks: Price, Features & More
The main difference between Zoho Books and QuickBooks Online is that Zoho Books has a free plan for companies with an annual revenue of less than $50,000. QuickBooks Online is more expensive for businesses with fewer than 15 users, but it stands out with its vast network of QuickBooks ProAdvisors, which lets you find a…
Compare BILL vs QuickBooks Bill Pay
BILL, formerly Bill.com, is an A/P and A/R software that focuses on processing vendor billings and sending customer invoices. Meanwhile, QuickBooks Bill Pay is deeply integrated into QuickBooks Online, a complete accounting software that can also process bills and vendor payments. Overall, I found that QuickBooks Bill Pay is the better fit for most small…
QuickBooks Certified User vs ProAdvisor: How to Choose
A QuickBooks Certified User is a bookkeeper certified in using QuickBooks for a single company, while a QuickBooks ProAdvisor is any person certified in being able to help multiple clients use QuickBooks, including choosing the correct plan.
Depending on whether you are a business owner or employee looking to enhance your skills or an independent bookkeeper seeking a way to increase your credibility and client base, one may be the better option. Both certifications offer you the opportunity to enhance your knowledge of QuickBooks. : Best for internal bookkeepers wanting to demonstrate…
GAAP vs IFRS: Understanding the Differences
The US GAAP and IFRS are two of the most widely used accounting standards in the world, and both aim to enhance the quality of financial reporting. US GAAP is primarily followed in the US, while IFRS is adopted by over 165 jurisdictions globally. The US GAAP and IFRS have different interpretations and treatments of…
When to Capitalize vs Expense Payments Made
The decision should be based on whether the cost improves the asset vs merely restores the asset to its original operating condition. Capitalized payments create an asset on your balance sheet, while expensed payments reduce the net income on your income statement. In general, payments to purchase or repair fixed assets should be capitalized if…