Xero vs Sage Intacct
Choosing the right accounting software for your business can be a daunting task. With so many options available in the market, it’s important to evaluate each software’s features, pricing, ease of use, security, integrations, and customer support before making a decision. In this article, we’ll be comparing two of the popular accounting software options – Xero and Sage Intacct – to help you make an informed decision based on your business needs and requirements.
Introduction to Xero and Sage Intacct
Xero is a cloud-based accounting software that is designed for small to medium-sized businesses. It was founded in 2006 in New Zealand and has since grown to serve over 2 million users worldwide. Sage Intacct, on the other hand, is a cloud-based financial management software designed for mid to large-sized businesses. It was founded in 1999 in San Jose, California, and has since grown to serve over 11,000 customers worldwide.
One of the key features of Xero is its user-friendly interface, which makes it easy for business owners to manage their finances without needing extensive accounting knowledge. Xero also offers a range of integrations with other business software, such as payment gateways and inventory management systems, to streamline business operations.
Sage Intacct, on the other hand, is known for its robust financial reporting capabilities. It offers customizable dashboards and reports, allowing businesses to track key financial metrics and make data-driven decisions. Sage Intacct also offers advanced automation features, such as automated billing and revenue recognition, to help businesses save time and reduce errors.
Features of Xero and Sage Intacct
Both Xero and Sage Intacct offer a range of features that businesses can use to manage their finances. Xero’s features include online invoicing, bank reconciliation, expense claims, inventory management, and project tracking. Sage Intacct offers similar features such as accounts payable and receivable, order management, inventory management, and project accounting. However, Sage Intacct offers more advanced financial reporting and analysis tools, making it more suitable for larger businesses that require more complex financial management.
In addition to the features mentioned above, Xero also offers a mobile app that allows users to manage their finances on-the-go. The app includes features such as expense tracking, invoice creation, and bank reconciliation. This makes it easier for business owners to stay on top of their finances, even when they are away from their computer.
On the other hand, Sage Intacct offers a unique feature called multi-entity management. This allows businesses with multiple entities or subsidiaries to manage their finances in a centralized location. Users can easily view financial data for each entity and consolidate reports for a comprehensive view of their overall financial health. This feature is particularly useful for businesses with complex organizational structures.
Accounting capabilities of Xero and Sage Intacct
While both Xero and Sage Intacct are excellent accounting software, it’s important to note that they have different capabilities. Xero is designed for small businesses and offers simple accounting features such as bank reconciliation, accounts payable and receivable, and payroll management. Sage Intacct, on the other hand, offers more advanced accounting features such as multi-entity and multi-currency accounting, revenue recognition, and global consolidations. If you have a larger business with complex accounting requirements, Sage Intacct may be a better option for you.
It’s also worth noting that Xero has a user-friendly interface and is known for its ease of use, making it a popular choice for small business owners who may not have a lot of accounting experience. Sage Intacct, on the other hand, has a steeper learning curve but offers more customization options and flexibility for businesses with unique accounting needs. Ultimately, the choice between Xero and Sage Intacct will depend on the size and complexity of your business, as well as your level of accounting expertise.
Pricing structure of Xero and Sage Intacct
Xero and Sage Intacct have different pricing structures. Xero offers three pricing plans – Starter, Standard, and Premium – priced at $20, $30, and $40 per month respectively. Each plan comes with different features, and the pricing increases based on the number of users and transactions. Sage Intacct, on the other hand, offers customized pricing based on the size and requirements of your business. While Sage Intacct is generally more expensive than Xero, it may offer better value for larger businesses that require more advanced financial management.
It is important to note that Xero offers a free trial period of 30 days, which allows users to test out the software before committing to a paid plan. Additionally, Xero offers a mobile app that allows users to manage their finances on-the-go, which is not available with Sage Intacct.
On the other hand, Sage Intacct offers more advanced features such as multi-entity management, project accounting, and revenue recognition. These features may be necessary for larger businesses with complex financial needs. Sage Intacct also offers a robust reporting system that allows users to create custom reports and dashboards, which may be beneficial for businesses that require detailed financial analysis.
Ease of use of Xero and Sage Intacct
One of the key factors to consider when choosing accounting software is ease of use. Both Xero and Sage Intacct offer a well-designed user interface that is easy to navigate. Xero is known for its simple and intuitive design, making it easy for business owners to manage their finances without prior accounting knowledge. Sage Intacct offers a more complex interface, but it’s designed for more advanced financial management, making it easy for accountants and finance professionals to use.
In addition to ease of use, another important factor to consider when choosing accounting software is the level of automation it offers. Xero and Sage Intacct both offer automation features that can save businesses time and reduce the risk of errors. Xero, for example, offers bank feeds that automatically import transactions from a business’s bank account, while Sage Intacct offers automated workflows that can streamline processes such as accounts payable and accounts receivable.
Another consideration when choosing accounting software is the level of customer support offered. Both Xero and Sage Intacct offer comprehensive customer support, including online resources, phone support, and email support. Xero also offers a community forum where users can ask questions and get advice from other users, while Sage Intacct offers a dedicated customer success team that can provide personalized support and training.
Mobile accessibility of Xero and Sage Intacct
With businesses becoming increasingly mobile, it’s important to choose accounting software that is accessible on-the-go. Both Xero and Sage Intacct offer mobile apps that allow you to manage your finances from your smartphone or tablet. Xero’s mobile app offers basic accounting features such as invoicing, expense tracking, and bank reconciliation. Sage Intacct’s mobile app, on the other hand, offers more advanced features such as real-time financial reporting and analysis.
In addition to their mobile apps, both Xero and Sage Intacct also offer cloud-based accounting software. This means that you can access your financial data from any device with an internet connection, making it even easier to manage your finances on-the-go. With cloud-based software, you can also collaborate with your team in real-time, no matter where they are located.
Another important factor to consider when choosing accounting software is security. Xero and Sage Intacct both prioritize the security of their users’ data. They use advanced encryption and multi-factor authentication to protect your financial information. Additionally, they regularly update their software to address any potential security vulnerabilities.
Integrations with other software for Xero and Sage Intacct
Integrations with other software are important for businesses that use multiple tools to manage their operations. Both Xero and Sage Intacct offer integrations with a range of software such as payment processors, CRM software, and payroll tools. However, Sage Intacct offers more advanced integrations with software such as Salesforce, making it a better option for businesses that use Salesforce as their primary CRM tool.
Customer support for Xero and Sage Intacct
When choosing accounting software, it’s important to consider the level of customer support provided by the vendor. Xero offers excellent customer support with a range of support options such as phone support, email support, and live chat. Sage Intacct also offers multiple support options, including a dedicated customer success manager for each customer. However, some users have reported longer response times for customer support requests with Sage Intacct.
Security features of Xero and Sage Intacct
Security is a critical factor to consider when choosing accounting software, as you’ll be storing sensitive financial information in the software. Both Xero and Sage Intacct offer strong security features such as two-factor authentication, data encryption, and regular backups. In addition, Sage Intacct offers more advanced security features such as role-based access control, audit trails, and IP restrictions.
Pros and cons of using Xero vs Sage Intacct
The decision to choose Xero or Sage Intacct ultimately depends on the size and requirements of your business. Xero is an excellent option for small to medium-sized businesses that require simple accounting features and an easy-to-use interface. It’s also more affordable than Sage Intacct. Sage Intacct, on the other hand, is better suited for mid to large-sized businesses that require more advanced financial management features and more integrations. However, it’s more expensive than Xero and may have longer customer support response times.
Choosing the right accounting software for your business
Before choosing accounting software for your business, it’s important to evaluate your business needs and requirements. Consider factors such as the size of your business, the complexity of your accounting requirements, and your budget. It’s also important to choose software that integrates well with other tools that you use to manage your business operations.
Common mistakes to avoid when choosing an accounting software
When choosing accounting software, it’s important to avoid common mistakes such as not evaluating all available options, not considering scalability, and not testing the software before making a decision. It’s also important to choose software that is user-friendly and has good customer support.
Case studies in using Xero or Sage Intacct
Many businesses have successfully used Xero or Sage Intacct to manage their finances. Case studies are an excellent way to evaluate how businesses are using the software and what benefits they’ve experienced. Some case studies can be found on the websites of Xero and Sage Intacct.
Future updates and developments for Xero vs Sage Intacct
Xero and Sage Intacct are constantly updating their software to meet the changing needs of businesses. It’s important to stay informed about future updates and developments to ensure that you’re using the most up-to-date software.
In conclusion, both Xero and Sage Intacct are excellent accounting software options that offer a range of features to help businesses manage their finances. However, the decision to choose one over the other ultimately depends on your business needs and requirements. We hope that this article has provided you with comprehensive information to make an informed decision.