Includes project tracking tools in higher tier plans; has transaction tracking tags; lacks industry-specific reports; users with multiple businesses must pay for separate subscriptions. FreshBooks beats Xero decisively when it comes to invoicing capabilities. The FreshBooks design suite allows for more customization and is easier to use compared to Xero. Xero also lacks the seamless[…]

Includes tools that help automate the reconciliation process, along with a global search function; has a simple layout and a customizable dashboard. However, much like FreshBooks, QuickBooks can be seen to have replied to the vast majority of negative reviews and a couple of glowing positive ones too. While the user is typically asked for[…]

You can also collaborate with other people, like accountants and bookkeepers, by giving them access to view and share your figures. Xero regularly backs up your data and protects it with multiple layers of security. Xero is powerful online accounting software for US small businesses. Manage your cash flow, track expenses, accept payments online, and[…]

While Xero’s plans start at a cheaper price, QuickBooks offers more features across its plans. Then again, QuickBooks requires user limits for each plan while Xero doesn’t. We compared the two options in terms of their key fractional reserve banking definition features, pricing and customer service to help you decide which is right for your business.[…]

Ensure that the Statement Date in QuickBooks Desktop corresponds with your actual bank statement, making adjustments as needed. QuickBooks Desktop will automatically generate a Beginning Balance based on your last reconciliation. Common causes of these discrepancies include missed transactions that are in the bank statement but not in QuickBooks, duplicate transactions recorded more than once,[…]

Proceed to enter the ending balance and date from your statement. If the last statement’s ending date is displayed, check it for accuracy to maintain continuity. Once all details are aligned and verified, you can start the reconciliation by selecting the Start reconciling option. For accounts connected to online banking, confirm that all transactions are[…]