Completing the accounting tasks and managing your finances become more complex with the business growth. Entry-level accounting software has a lot of limitations. As a result, you need to understand the requirements of your business and then upgrade your accounting software accordingly. NetSuite Vs. QuickBooks is the best accounting software based on functionality and features. Both accounting software also has approximately the same tools, but there is a big difference in the depth of features.
Modern business requires robust accounting software to maintain a competitive edge and efficient operations. In this blog, we will discuss NetSuite Vs. QuickBooks. The comparison guide will compare both accounting software. As a result, you can determine which software is best for you. We are going to focus on every important accounting feature.
What Is NetSuite?
NetSuite is one of the best accounting and finance management software. It helps you grow your business along with unified and cloud-based platform support. It also provides real-time data. You can increase operational efficiency with the help of automation services, HR management software, eCommerce, and CRM services. Two leading accounting software companies are NetSuite Vs. QuickBooks.
NetSuite OneWord has multicurrency capabilities, multi-legal entity, and multi-subsidiary. You can also use NetSuite ERP software to get higher-level functionality and time-saving features.
The accounting software is built to run your business more efficiently. Moreover, here is the list of NetSuite features:
- Procurement
- Warehouse management,
- Inventory management,
- Production management,
- Order management,
Oracle NetSuite provides cloud-based accounting software with these services:
- Enterprise Resource Planning software (ERP),
- Human Capital Management software (HCM),
- Customer Relationship Management software (CRM)
- Professional Services Automation software (PSA)
- E-commerce software.
Read More:- QuickBooks Online Essentials 2022: Comparison & Pricing
What Is QuickBooks Software?
QuickBooks is the best choice for small businesses looking for an excellent bookkeeping service. Different websites offer different plans for QuickBooks accounting software. You can choose any plan based on your business requirement. It also allows you to create financial reports, connect bank accounts, track expenses, connect credit cards, etc.
QuickBooks is limited to only accounting services. But, you can also choose add-ons to integrate with third-party apps. QuickBooks Online also has a limited number of users:
- Advanced: 25 users
- Plus: 5 users
- Essentials: 3 Users
- Simple Start: 1 User
- Self-Employed: 1 User
QuickBooks offers a group of accounting software and tools. You can also use these products and services from QuickBooks:
- Online
- Desktop
- Payment Processing.
Oracle NetSuite Vs. QuickBooks: Which Is Better?
QuickBooks is suitable for small businesses to manage invoices, track cash flow, and pay bills. The bookkeeping tool creates year-end reports and monthly reports. But, NetSuite offers financial management solutions to increase efficiency and reduce complex steps. You will also get a customizable dashboard, reminders, workflows, and KPIs.
Both Oracle NetSuite Vs. QuickBooks serve similar purposes but have many differences.
Newly Added Features Of QuickBooks Vs. NetSuite
Here is the list of recently added features of QuickBooks Vs. NetSuite.
| QuickBooks | NetSuite |
| Improved performance speed | Improved Inventory management |
| Track revenues from eCommerce sites | Automatic cash flow management |
| Schedule & Pay bills | Customized view |
| Use a Debit card or Credit card | Supply & Demand order |
| Customizable bill approval | Customized invoice templates |
| Bill Payment stubs | Less pricing |
| Batch Emails | |
| Send payment links |
Oracle NetSuite Vs. QuickBooks: Primary Differences
QuickBooks accounting software is an excellent solution for all small businesses. You can also choose the QuickBooks plan based on your accounting needs. It meets all your business needs. On the other hand, Netsuite is an all-in-one solution for small, medium, and large businesses. It also meets your short and long-term needs.
Both are cloud-based ERP systems and can handle business requirements. You can only get limited users for QuickBooks accounting software. Moreover, QuickBooks charges you based on the number of users and add-on services. If you expect more sudden growth, you must use NetSuite accounting software. Moreover, you will not have to change the accounting software in the future.
QuickBooks Vs. NetSuite: Pricing Comparison
You can choose QuickBooks plans between Pro, Plus, or Advanced. It will also cost you between $25 to $180 per month. The cost of QuickBooks accounting software depends on your type of plan. But, the NetSuite license costs $99 per month. You can also choose the monthly plan in QuickBooks. However, NetSuite follows an annual subscription.
If you want to use more professional NetSuite services, you will have to pay charges for the support, data migration, customization, integration, and implementation. QuickBooks has limited setup fees. You will need to pay extra charges for the support, training, and integrations. Moreover, you can get a QuickBooks or NetSuite license through the official site or the authorized solution provider partner.
Final Words
Both Oracle Netsuite Vs. QuickBooks offer cloud-based accounting software to help your company run and manage businesses’ finances. QuickBooks only focuses on accounting and financial management and is great for small businesses’ accounting solutions. But, NetSuite offers an excellent accounting & business management solution to manage your accounting and finances. Check our blog section to resolve the error codes on your accounting software. Wire IT Solutions offers professional accounting and software support services.
QuickBooks is best for managing small businesses. But, NetSuite is best for any growing business. Both are one of the best Enterprise Resource Planning software. NetSuite offers a modern solution to save your money. QuickBooks platform also offers different tools and functions to grow your business. Read the blog Netsuite Vs. QuickBooks to know more.
You can migrate from QuickBooks to NetSuite or vice versa. If you want to upgrade your account, you will only need the backup files and company data. After that, you will have to restore the backup files in NetSuite accounting software. Go through the blog to learn more about Netsuite Vs. QuickBooks.
You will get more automatic tools once your business grows. Then, you will have to hire more employees, get more customers, process more data, etc. NetSuite will increase business efficiency. You will be able to manage the complex business easily. Read our blog to get more details on Netsuite Vs. QuickBooks.
You must choose QuickBooks accounting software to manage your business finances because it offers advanced accounting tools for your business. You will get expense tracking, payroll automation, business integration, and remote access features.
