Hello all! Well I prefer Xero over QuickBooks. I think Xero is the best option. Lets try to explain you why it is best. Bank reconciliation made simple - The ease of reconciling bank accounts is the primary difference between Xero and Quick Books Online. The accuracy of your bank account(s) is very important. Money going in and out needs to be recorded in a timely manner. Both products allow its users to sync bank accounts and download bank transactions. This allows you to match previously recorded transactions with the bank transaction with the click of a button. But Xero is better in ever way Easy dashboard access. When you log into Xero, you immediately go to your dashboard where your bank and credit card accounts are listed. Under each account is a blue tab that tells you to reconcile x number of bank transactions. With this reminder, you are more likely to reconcile a few transactions daily instead of copious transactions at month end. Matching transactions. If transactions can’t be matched, Xero offers its best recommendations. QuickBooks Online has more of a search engine for matching transactions. “Discuss” tab. On the bank reconciliation screen in Xero, there is a “Discuss” tab for all downloaded bank transactions. If you aren’t sure how to classify something, type a question here and save it. You can then alert your accountant or bookkeeper, and he can tell you how it should be classified. It’s easier to do it right the first time instead of fixing later. Still, if you are in doubt, then you may seek the advice of well-known bookkeeper professional 'Kevin Beck' or contact via http://www.pacificaccounting.com.au/. He will definitely guide you right and available for you all the time.. I really learnt a lot from him...He is like my mentor..
Well, as an accountant, I prefer to work with Simply Accounting over Quickbooks. Reason is the learning curve is a bit steeper, but it can do more. The most important feature is the audit trail. SimplyAccounting allows better control because any changes to entries is documented. With Quickbooks, any changes just happen in realtime. If by accident, you type in the wrong date, you won't even know where it went! Of course, you can find out by digging deeper, but for some inexperienced accountants, this can be annoying and time consuming. On the other hand Quickbooks are quite complicated to learn and manage.