Managing a business can be frustrating at times, especially for those who are not professional accountants or bookkeepers. This is the reason why clever solutions, such as online accounting software were invented. However, there are so many of them it is virtually impossible to choose one that satisfies all expectations. But Xero and FreshBooks are ready to accept the challenge and become your trustworthy assistant. Both of these software solutions offer almost the same essential features, such as invoicing, quoting, estimating and more. Moreover, you can choose from a variety of packages, an effective customer support, stellar mobile applications and free trials.
|Free Trial||Free Trial||Free Trial|
|Time Sheet Sharing|
|Multiple Tax Rates|
|Windows Mobile App|
|Time Tracking||Coming soon|
|Integrations & Extra Services|
|Paper Invoice Service|
|Credit Card Payments|
|Document Management||G Suite|
|1 Month Plan||$9/mo||$15/mo|
|3 Months Plan||n/a||n/a|
|6 Months Plan||n/a||n/a|
|1 Year Plan||n/a||n/a|
|Free Trial||30 days||30 days|
|Money Back Guarantee||30 days|
|Video Tutorials||FreshBooks Classic|
New Zealand-based online accounting company Xero started its career in 2006, quickly becoming a trustworthy companion for over 600k sole proprietors and small businesses around the world. Whenever you access your account you can see your cashflow, banking, the clients who owe you and many more in just seconds. With the help of the user-friendly invoicing, quoting, estimating and billing features, creating documents is a smooth and easy process. Furthermore, in the case of invoicing, you can see when your invoices are opened and let them be instantly paid by your clients with the online payment option.
Using your mobile device you can capture and process your receipts and attach them to invoices and projects. You can connect your bank account to Xero so you never have to manually enter your bank transactions anymore. With the simple inventory management software you will be able to speed up your quotes and invoicing, track the quantity and profitability of your items, and get real-time stock valuation. The accounting solution automatically creates your reports and it helps you filing your 1099s as well. The company offers customers three pricing plans with a monthly fee reduced by 30% for the first 6 months: Starter for $9 per month with limited invoicing, billing, bank reconciliations and simple currency; Standard for $30 per month with everything but multi-currency; and Premium for $70 per month that includes all features. And last but not least, Xero not only has stellar iOS and Android applications and a superb 24/7 customer support, but it also integrates with over 400 apps.
Back in 2003 FreshBooks originally started as an invoicing, billing and time tracking software. Since then it has become a full-fledged online accounting company for 5 million users worldwide – and for a very good reason. FreshBooks is a perfect choice with a super straightforward user-interface that lets you easily create invoices, estimates and expenses. Using its stellar projecting and time tracking features you will always be able to quickly manage your timing and add billable and unbillable times to your invoices too. If you allow online payments for your clients they will be greeted by a user-friendly portal where they can easily and quickly check and accept their estimates and pay their invoices.
You can also access all of the services of FreshBooks by using its stellar application, available for both iOS and Android platforms. With your subscription you can integrate almost 40 different third-party applications and services from CRMs to online payment tools such as PayPal. The company offers four very similar pricing plans with almost the same features for $12.95 per month, $19.95 per month, $29.95 per month and $39.95 per month respectively. And let’s not forget about the outstanding customer service, which answers all your questions in a courteous and prompt manner within a short amount of time by phone or via email.
As you can see, no matter which of these two solutions you choose, you will get almost the same features for almost the same price. Xero is usually the No. 1 choice of sole proprietors and small businesses, and for a good reason. Creating new documents is very easy and you get a stellar inventory with which you can track the quantity and profitability of your stock. Xero also helps you with 1099s, lets you manage your account on your mobile device as well, and it has a 24/7 customer support. It offers all this for a very friendly price. FreshBooks, on the other hand, is also a good choice for easy document creation and management. The user-friendly software has a clever time tracking feature, pitch perfect mobile applications, affordable pricing plans and has an apt customer support team always ready to answer your questions.