QBO v Xero a practical dissertation

by | Oct 30, 2018 | Guides | 0 comments

GMP CPA is a silver Xero partner, which does not mean that we are in second place, it just means that we are growing (and there is room for improvement). Our firm’s preference is clearly with Xero as far as online accounting platforms and the reasons are many. Rather than compare and contrast the software platforms on their technical merits (its been exhaustively done HERE, HERE, HERE, and HERE), we feel as though the differences come down to just a few items. This article is designed for the short attention span or mobile searching, so bear with us just a little bit longer.

When QuickBooks Online makes sense

If you are toiling around in QuickBooks Desktop, then the transition from desktop to cloud is an easy sell. The formats, navigation, and main functions are roughly the same and there is a short learning curve. The changes and new features that are being added to QBO are not rolled out at a fast pace and there are limited menu options and setup. This is about as easy as it can get as far as transitions go, just be prepared for frustration (hopefully just initially) when the same robust functionality is missing or finding ways to get things done is a little wonky. Most of the time, the ability to access QBO anywhere outweighs any of the more limited functions that did not carry over from Desktop.

QBO also makes sense if you, the business owner, enjoy the process of keeping up with your books on a nearly daily basis. Everyone, and we have literally seen EVERYONE, can hack away at QBO online and cobble together a set of books. You, the QBO user, have nearly unlimited reign within a QBO account so that you are free to make adjustments and changes at will and seemingly without regard to the merits of their complexity. Undeposited funds is approaching a million dollars? Bank account balance is more than $50,000 more than the actual balance? “Opening Balance Equity” is negative? “Ask My Accountant” is more than 100 transactions in a month? QBO is perfect for the DIY accountant and small business owner who wants to hire a professional at some point, just not yet. In all honesty, QBO works for some people and we feel it is best on a case by case basis. If you are comfortable working in the Intuit accounting environment and want to keep up with your company’s accounting dailey, then having GMP CPA look over your shoulder (from a reasonable distance, we don’t hover!) is a great scenario that includes QBO.

What we use Xero for

Xero is a technical masterpiece for accountants, it is the one tool that allows us to work remotely and closely with a business owner at the same time. It has the “Beautiful Business” tagline and it occasionally does transform some horrid accounting into works of business art. However, Xero is flexible in every way that Intuit products are not. This flexibility allows GMP CPA to work with a multitude (five $ word!) of business owners that range from passive to aggressively involved in their business’s accounting. It works with many invoicing systems, payment platforms, payroll platforms, and offers a lot of different – and all transparent – ways to get things done. If you are someone that knows your business according to it’s banking balances, Xero can help us advise you in that same manner, or it can allow you to dig deeper without much effort. Let us show you how Xero is different and can enhance your relationship with your business.

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Tina Simmons
Tina Simmons
13:38 17 May 19
This team is dedicated to their clients and committed to understanding your business and sharing their knowledge to help you succeed. I love working with these folks, they take the worry and uncertainty out of accounting and taxes!read more
Bravo4 Autowerks
Bravo4 Autowerks
12:55 08 May 19
Gary and his team have been fantastic for me and my business. They respond well to all my questions, are very helpful and of course keep my financials in order. Highly recommended.read more
Queen City Newborn Care
Queen City Newborn Care
15:57 02 Apr 19
I was drowning before I met Justin. He totally transformed how I run my small business and has gotten me organized in ways I didn't even know were possible. I am so grateful for his advice and suggestions! This company is worth every penny.read more
Dennis Bloomberg
Dennis Bloomberg
16:01 26 Mar 19
Unfortunately, I found GMP when my mother passed. She had a trust set up and I had no experience with one. I received excellent advice prior to filing taxes, that allow for the transfer of assets with little tax implication. The tax process was simple for me, Justin took over once he had details and cleared up all question from filing our taxes. Thank you for a job well done!read more
Natalie Knight
Natalie Knight
15:35 21 Nov 18
Prusiensky CPA is up to date on technology. They handcraft a platform that works best for your company's accounting services. We really appreciate how hands on and quick their team is when replaying to any type of correspondence. Simply put, they care and want your company to succeed.read more
Ashlyn Lelej
Ashlyn Lelej
14:39 21 Nov 18
I highly recommend Justin at Prusiensky, CPA for all of your accounting and tax needs. I've been a client for over two years, and have been consistently impressed with their dedication to helping my business grow and be financially successful. His advice is invaluable. Thank you!read more
Bobby Nguyen
Bobby Nguyen
22:23 20 Nov 18
My partner and I started our very first small business last year. Justin has been a blessing to us. Being new at all of this, we didn’t understand much of how business taxes work. Justin explained and answer all of questions that we have. He took care of everything for us throughout the year and have made life so much easier for us. I couldn’t have asked for a better CPA. Highly recommended!read more
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