Most small businesses in the U.S. use a Quickbooks product to handle their accounting needs. In fact, over 75% of U.S. businesses use an Intuit product.
But is it better because more people use it? Perhaps not. In this post, I’ll compare the two products, specifically, Quickbooks Online vs. Xero. Then you can decide which one is better for your business.
Quickbooks Online users surpassed 2 million users in the past year while Xero has over 1 million. Most of Quickbooks users are in the U.S., while Xero’s users are from Australia, New Zealand, U.K. Asia and North America. Growth rates for both cloud-based products are increasing rapidly as businesses begin to realize that this “cloud” thing is real and have begun to move to the solutions that provide it.
For many years, Quickbooks products were the only choice for small businesses. The Internet and the introduction of SAAS (software as a service) products have shown that new accounting solutions have been developed that rival Quickbooks. Xero has been the leader in this area. This has caused Intuit to reinvent and change its QBO product to match what the market is offering. That’s a win either way for small business owners since this innovation has provided new products and services at a more competitive price.