Comparison b/t Zoho Books vs QuickBooks: What's the Difference?

When we meet new customers for financial process optimization and introduce them to Zoho Books, the first question they often ask us is, "What sets Zoho Books apart from QuickBooks?"

This is a good question and we are happy to answer it for our customers. On the surface, it may seem that there are some similarities. After all, both accounting tools are aimed at small and medium-sized businesses. Both help companies manage account statements, debtors, invoices and transactions.

But there is a difference, one that QuickBooks users quickly pick up on when they need to resort to spreadsheets and time-consuming manual processes just to "make it work." Zoho Books offers flexibility not seen in any version of QuickBooks. The tool integrates with several ZOHO ONE Suite applications, including projects, reports and CRM. It also integrates with third-party applications and offers a perfect one-stop-shop for a company's accounting needs.

While QuickBooks allows you to balance spreadsheet data and move between multiple applications, Zoho Books has all the data you need in one place.

The similaritiesIf you are worried about losing functionality when switching from QuickBooks to Zoho Books, do not be. Zoho Books offers all the features you see in QuickBooks, often with additional options, permissions, and benefits.

Both apps currently offer:

Bank Feeds: You will find this feature under another name in Zoho Books financial suite". However, it all has the same features as QuickBooks, so you can sync bank and credit card activity with your account.

Company contacts: You can associate multiple contacts with a company and select to whom certain messages are sent.

Zoho Invoice Integration - Both tools are integrated with Zoho Invoice, so you can send branded invoices directly to customers and set up recurring payments. The only difference is that Zoho Invoice is integrated directly into Zoho Books. No need to install another app or sync data.

Recurring transactions: This feature is especially useful for companies that offer services through subscriptions. Even in Zoho Books, you still have the ability to generate recurring expenses and send recurring invoices. Automatic loading is also available.

Multi-currency - Companies dealing with international customers do not have to worry. They can link unlimited bank accounts in the currency they need.

VAT: no need to do math! Both apps handle VAT calculations on your behalf.

The differences At a basic level, QuickBooks offers many of the same features as Zoho Books. However, you will not have a basic program. You need a program that is flexible enough to grow with your business and detailed enough to give you real-time reports on your financial future. This is where Zoho Books excels.

The Customer Portal - The customer portal is what makes Zoho Books obscure QuickBooks. Customers can log in, view current and past bills, make payments via almost any method (cash, check or online) and view their transactions and other activities. They can see if the invoices are overdue, see if they have outstanding payments and even comment on the invoices.

Sell orders: Do not waste time closing a deal. If a customer approves an offer, you can turn it into an instant sales order.

Advance Invoices - Some companies and customers work with advance payments rather than month to month invoices. Zoho Books understands this and allows users to create holdings and apply them to future invoices. There is even the option to send alerts to customers after their advance has been used.

Purchases - Every purchase you or your team makes goes through an automated approval process. This helps validate these purchases and keeps them flawless.

Time tracking - Thanks to an integration with Zoho Projects, you can give your customers maximum transparency. You can synchronize project management details, including billable and non-billable time, to-do lists, and more.

Workflows - When it comes to any Zoho product, automation is key. Save time by creating workflows that personalize your email content, update important fields, and even send notifications to customers.
There is a very small learning curve when it comes to these new features ... especially if you have a Zoho Books partner by your side.

To learn more about how Zoho Books can help your business streamline your accounting processes, contact our certified Zoho development team today.