QBO VS XERO: THE PROJECT
Bank Reconciliation with the QBO & Xero iOS app
Jeri Murphy, Co-founder of WhichAddOn.com, Australia
15 September 2016
CAN YOU DO YOUR BOOKKEEPING FOR YOUR BUSINESS WHILST STRETCHING?
I say YES!
Because I just did and now I’m writing here to say with you exactly how I did it…
Welcome to the 2nd instalment of the QBO VS XERO PROJECT.
Quickbooks Online or QBO as we are going to call it (because it’s faster) has a mobile app. I’m using the iPhone version. Xero has an iPhone app too.
They both claim to enable you to be able to do bank reconciliation anywhere… Xero even started the cool concept of #bankrecinbed – not sure if it ever took off!
So if both do it – which one is better?
For those of you that don’t know, I have started a project to share with you the differences between QBO AND XERO. I’m doing this by running my company accounts in both systems and then telling you what I’ve learned.
Here’s what I learned about reconciling or categorising transactions (for the non-nerdy numbers people here):
1. Both QBO and Xero have mobile apps and bank feeds which pull through your transactions from your bank straight into your accounting system – no more data entry
2. Both QBO and Xero let you record a transaction straight into your accounts (ledger), match it to an existing unpaid invoice or bill already in the system or record a transfer
3. QBO lets you create an account if it doesn’t already exist, Xero doesn’t.
4. Both QBO and Xero let you create a contact easily whilst categorising a transaction.
QBO vs Xero: The Project
This post has all be done lying on my floor whilst stretching!
Now there is much much more to the QBO app vs Xero at first glance including reports and even bills, but I will cover that another day ?
Over the next few weeks I’m going to sharing with you the QBO vs Xero Project. Most of the action will be over at my Jeri Murphy Facebook page with posts and livestreams. If you don’t want to miss it, best got on over there and like my Jeri Murphy page. 🙂
Until next time, remember:
Life is Better in the Cloud.
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