Table of Contents
Learn about the differences between NetSuite and QuickBooks Online. Find out the top three features that you should consider when choosing your accounting software solution.
The “netsuite vs quickbooks pricing” is a comparison of the NetSuite and QuickBooks Online. The two software packages are both cloud-based accounting solutions that can be used by small business owners, freelancers, and professionals.
Major software companies provide two popular accounting solutions: Oracle’s NetSuite and Intuit’s QuickBooks Online. NetSuite is a customer relationship management application with many other integrated solutions that is tailored to midsized and bigger enterprises with many locations. However, it comes at a cost: NetSuite’s standard license charge is $999 per month, with an additional $99 per month user fee. This calculates out to $3,474 per month for 25 people, vs $180 for QuickBooks Advanced, which also permits 25 users.
NetSuite is not a great alternative for small firms with simple accounting requirements due to its complicated capabilities and expensive price tag. While QuickBooks is a wonderful accounting software for organizations of all kinds, NetSuite is a superior option for multinational companies seeking for an enterprise resource planning application that can scale with them.
When Should You Use NetSuite?
NetSuite is a software-as-a-service (SaaS) solution that integrates accounting and enterprise resource planning (ERP) software, customer relationship management (CRM) tools, and e-commerce functionality into a single package. Users from several departments, such as sales, accounting, and support, may access client information via a single record in NetSuite, which eliminates data discrepancies. It’s perfect for mid- to large-sized organizations, manufacturers, and corporations with more complicated demands, such as inventory management.
NetSuite provides a simple cloud-based financial management solution as part of its broad ERP offering, allowing organizations to maintain their financial data and automate many critical accounting activities. This is an ideal accounting solution within an ERP platform if your company wants to speed up accounts receivable (A/R) and accounts payable (A/P), close deals faster, and stay on top of financial compliance obligations while also taking advantage of a full suite of powerful business management features.
Go to the NetSuite website.
When Should You Use QuickBooks?
QuickBooks Online is a cloud-based accounting software that is ideal for e-commerce shops, service providers, and real estate firms. Because of its versatility, simplicity of use, and powerful features, like as a mobile app and add-ons like payroll and time tracking, it has frequently been named the finest small company accounting software.
QuickBooks Online also includes robust reporting and inventory management tools, as well as customisable invoices and over 650 connectors. You can monitor 1099 payments and handle 1099s if your company employs 1099 contractors. Its capacity to monitor activity by class and location will appeal to property management organizations.
Go to the QuickBooks Online website.
If you’re interested in learning more about other QuickBooks alternatives, such as Sage50 Cloud, have a look at our top picks.
A Quick Comparison between NetSuite vs QuickBooks
What Accounting Software Should You Use?
We’ll offer you a tailored product match once you answer a few questions about your company.
the first question
Are you seeking for software for enterprise resource planning (ERP)?
2nd question
Do you want your program to be able to merge numerous entities into one?
Question three
Do you need more than 25 users?
4th question
How much money do you make on a yearly basis?
$100,000 or less
between $100,000 and $250,000
ranging from $250,001 to $500,000
ranging from $500,001 to $1,000,000
More than a million dollars
Pricing for NetSuite vs. Pricing for QuickBooks
QuickBooks Online has five subscription tiers, ranging from Self-Employed for one person with basic capabilities to Advanced for up to 25 users with advanced features. Its cost is based on the features provided at each level, while NetSuite’s pricing is determined by a bespoke quotation depending on the size of your company and the many modules that will be employed.
Pricing for NetSuite
ERP solutions are often charged on a bespoke basis since they may handle a broad variety of complicated company management activities. The cost of software is affected by factors such as the size of the company, yearly revenue, and required functionality. This is true for NetSuite, and you’ll need to contact an Oracle sales representative who will walk you through the platform’s available features, which include inventory management, financial management, point of sale (POS), CRM, and human capital management software, to get an accurate price estimate.
NetSuite has a basic price of $999 per month + $99 per month per user, according to Better Buys.
Pricing in QuickBooks
QuickBooks has five subscription levels to choose from, each with its own set of features. The costs for each are shown below:
- $15 per month for one user if self-employed
- $25 a month for one user is a good place to start.
- $50 per month for up to three users is the bare minimum.
- Plus, for up to five people, it’s just $80 per month.
- Advanced: $180 per month for a group of up to 25 people.
Because Self-Employed is not a double-entry accounting system, it cannot be upgraded to any of the other plans. Before you subscribe to self-employed, be sure it will meet all of your present and future demands.
Pricing in QuickBooks and Tiered Features
Takeaway: NetSuite is far more costly than QuickBooks Online, but it is aimed at bigger businesses looking for a full ERP system rather than just accounting software.
Features of NetSuite vs. QuickBooks
While both NetSuite and QuickBooks excel in bookkeeping, NetSuite stands out for its extra features like as ERP, consolidations, and connectors. NetSuite helps you to manage your accounts receivable and payable, as well as interface with your financial institutions and have many users. It also has a large report library, which contains parent and subsidiary reports that may be read in either the home currency or the currency of the company.
Fixed asset acquisitions may be tracked in both NetSuite and QuickBooks Online, however NetSuite offers a specific module that monitors the asset value, depreciation expenditure, and useful life of an item. Because you must manually compute depreciation charges outside of QuickBooks Online and record them as a journal entry, this is a handy option. Another significant element of NetSuite is its built-in technology, which provides access to over 75 key performance indicators (KPIs) that can be customized for each employee’s dashboard, such as sales, open balances, and receivable turnover for a collections expert.
Takeaway: While both NetSuite and QuickBooks Online provide a robust set of capabilities, NetSuite outperforms QuickBooks Online by providing a bigger number of reports, KPIs, and the ability to automate fixed asset acquisitions. This is perfect for companies that have various locations or need to manage user permissions for different staff positions. The inventory management features in NetSuite are more advanced than those in QuickBooks Online, making it perfect for manufacturing and product companies.
Ease of Use in NetSuite vs. QuickBooks
Both NetSuite and QuickBooks Online include customizable dashboards depending on the user’s access credentials. While both provide a range of valuable reports, NetSuite’s volume and intricacy of information may be daunting. QuickBooks’ user interface also has a steeper learning curve, making it a more appealing alternative in terms of simplicity of use, particularly for inexperienced users.
NetSuite’s User-Friendly Interface
Because of the large amount of data on the NetSuite dashboard, new users may feel overwhelmed. While the information you have access to is determined by your user access privileges, the presentation remains consistent. You may go to other aspects of the application using the menu tabs across the top, such as costs, reports, and payments.
NetSuite Dashboard in Action (Source: NetSuite).
- Reminders: This list displays action items that need to be addressed, such as open purchase orders (POs) or periods that need to be closed.
- KPIs: This part examines your revenue, profit, costs, A/Rs, A/Ps, sales, sales orders, and bank balance over a period of time and displays the % change for each, enabling you to track your company’s financial health.
- Operating Cash Flow By Period Trend: This data is shown as a graph, enabling you to personalize it over a given time period.
- Monthly Commission Estimated Trend: This report, which is also graphed, demonstrates how commissions fluctuate from month to month.
- Accounting in general: This section, which is divided into Transactions, Lists, and Reports, contains clickable connections to various areas of the software, such as the chart of accounts and journal entries.
- SaaS Metrics: A overview of many components of your company over time, such as new customer acquisition, new business bookings, average selling price, and churn rate.
- The Top 10 Customers in Order of Balance: The A/R Aging Summary is shown in this area in the order of your top ten clients.
Ease of Use in QuickBooks
On the main home page, the QuickBooks Online Dashboard is similar to NetSuite’s in that it offers access to a lot of information. QuickBooks includes a left menu bar that enables you to browse to various regions of the application instead of menu tabs across the top of the screen. You’ll note that each has a different style, with QuickBooks Online’s dashboard being less crowded. Some of its features may need to be turned on from the Settings menu.
The dashboard provides you with access to your account balances, revenue and spending data, and graphs that depict your company’s financial health. Transactions, Expenses, Sales, Cash Flow, Projects, Payroll, Reports, Taxes, Mileage, Accounting, My Accountant, Capital, Apps, and Live Bookkeeping are all accessible through the navigation bar on the left. Payroll and Live Bookkeeping are optional services that may be purchased separately.
A screenshot of the QuickBooks Online dashboard.
- Each of these tabs will lead you to a different function, such as invoicing customers, creating reports, and monitoring projects on the left navigation bar.
- Cash Flow: This report displays your revenue, cost of goods sold (COGS), and expenditures over a specified time period and may be customized.
- Income: This part displays all elements pertaining to your income, such as past-due bills, as well as your A/R report.
- Spending: Here you may get a breakdown of your expenses by category.
- Profit and Loss: You can generate a customizable profit and loss (P&L) statement in this section.
- Sales: You may display your sales over a certain time period, such as the fiscal year-to-date, in graph form.
- Bank Accounts: Here you may get a summary of your bank balances. Once you’ve connected your online bank and credit card accounts, you’ll be able to see both your bank and QuickBooks balances.
Takeaway: While both NetSuite and QuickBooks Online offer a robust dashboard that displays a wealth of data, NetSuite’s is more complex and might be scary to beginning users. NetSuite’s ability to monitor KPIs and see trends over time makes it a more appealing alternative than QuickBooks Online’s Advanced package, which only provides this functionality. Both enable you to assign rights to users, allowing you to control what information they have access to. The dashboard for NetSuite and QuickBooks Online includes reports like A/R Aging and Cash Flow.
Assisted Bookkeeping using NetSuite vs. QuickBooks
Unlike QuickBooks, which offers its own virtual accounting service called QuickBooks Live, NetSuite customers will almost certainly have to depend on third-party bookkeeping businesses. While QuickBooks Live bookkeepers will not help you with day-to-day accounting, they will assist you with setup and cleaning to keep you organized.
Assisted Bookkeeping with NetSuite
Although NetSuite does not provide its own type of assisted bookkeeping help, such as QuickBooks Live’s virtual bookkeepers, numerous independent bookkeeping and accounting organizations do. Cogneesol, for example, offers end-to-end accounting services using NetSuite accounting software. A/R, A/P, tax preparation, and detailed reporting are among these services. Other modules, including as buying and vendor management, fixed asset management, and inventory control, are also supported by Cogneesol. A customized quotation is offered upon request since each company’ demands differ based on the modules selected.
Assisted Bookkeeping with QuickBooks
QuickBooks users in need of accounting assistance will find it with QuickBooks Live, which pairs you with a virtual bookkeeper. While certain day-to-day accounting responsibilities, such as A/R, A/P, invoicing clients, and inventory management, are not included in the service, it does provide monthly financial reports and monthly video sessions where you may ask questions and review report data. Your bookkeeper will work with you to bring your books up to date, as well as set up your chart of accounts and bank connections, after you’ve signed up. Monthly accounting services start at $200. One of the most appealing aspects of this business is its guarantee of 100 percent accurate books.
Takeaway: QuickBooks Live is a virtual accounting solution for organizations who need setup and financial reporting support. Although NetSuite does not have a comparable service, independent bookkeeping and accounting businesses that specialize in the program may be found.
Integrations in NetSuite vs. QuickBooks
NetSuite connects with numerous prominent business software suppliers and enables smooth connections with all of its ERP solutions. You may leverage NetSuite’s open APIs to add additional connectors if you use other suppliers to handle your operations. QuickBooks Online, on the other hand, offers hundreds of third-party connectors, as well as two that can be accessed straight from the program.
Integrations with NetSuite
NetSuite eliminates the need to link ERP, CRM, and ecommerce software since it is integrated from beginning to finish. SuiteCloud Connect, a set of bundled solutions for connecting with prominent corporate applications and systems such as Salesforce, SAP, Oracle, and Google Apps, was created in collaboration with third-party connection providers. Users that seek guidance and support with integration projects may take use of NetSuite’s training courses and consultancy services.
Integrations with QuickBooks
More than 650 business applications are integrated with QuickBooks Online, and there are two integrations that can be accessed straight from the QuickBooks Online app. The payroll and timesheet functions are covered in the following sections:
- Payroll in QuickBooks: This tool allows you to pay and manage your workers all in one spot. Payroll, tax filing, health benefits, workers’ compensation, and other HR activities will be available to you.
- QuickBooks Time: Using QuickBooks Online, automate time tracking by enabling workers to log their time from any place on any device. This data will sync in real time with your QuickBooks account, making payroll easier.
Here’s an example of possible QuickBooks Online integrations:
- Insightly, Method:CRM, WORKetc, and Aero Workflow are examples of customer management software.
- ReceiptBank, Plooto, Hubdoc, and AutoEntry all sync data.
- Shopify, erplain, TradeGecko, and SOS Inventory are examples of inventory management software.
- Budgeto, Fathom, Qvinci, and Cash Flow Frog are some of the budgeting/forecasting tools available.
- Gusto, Square Payroll, Wagepoint, and RUN are some of the payroll software options. ADP is the driving force behind this project.
- Freedom Merchants, Stripe by Connex, and PayTraQer are three ecommerce platforms.
Takeaway: QuickBooks Online has over 650 connectors, with two of them accessible straight from the program. Meanwhile, the bulk of NetSuite’s connectors are integrated into the program, with the ability to access additional via SuiteCloud Connect, which provides a restricted set of features.
QuickBooks vs. NetSuite: Mobile App
Both NetSuite and QuickBooks feature mobile applications for iOS and Android that are fairly capable, while NetSuite’s user interface is far more sophisticated.
App for NetSuite on Mobile
Easy expenditure reporting, call recording, and time tracking are all available in NetSuite’s mobile app, which has a mobile dashboard portlet and KPIs. The apps, which are available for both iOS and Android, have a mobile-first user experience for critical processes and offer push alerts for time-sensitive operations, enabling users to simplify work while on the road. The software also allows you to modify reports by adding fields, grouping levels, and altering formulae, as well as have immediate access to recent records stored searches.
App for QuickBooks on the Go
QuickBooks Online also has a mobile app for iOS and Android that allows users to track spending, invoice customers, input transactions, and send reports. You can also send invoices using WhatsApp if you’re an Android user. You’ll be notified right away whenever a consumer sees or pays an invoice. The QuickBooks software also transforms your phone into a receipt scanner, allowing you to record chargeable expenses in your books and attach receipts to invoices for reimbursement.
Takeaway: While both NetSuite and QuickBooks have robust mobile applications, NetSuite stands out because to its more comprehensive user interface (UI), which includes KPIs and robust report customization capabilities.
Customer Support in NetSuite vs. QuickBooks
In addition to their enormous knowledge libraries, NetSuite and QuickBooks provide live assistance through phone and chat to its clients. They both feature a wealth of support tools, such as community forums, video tutorials, and webinars. While NetSuite’s customer service is available 24 hours a day, 7 days a week, QuickBooks’ phone assistance is only available during normal business hours.
Customer Service for NetSuite
NetSuite’s whole ERP platform, including its financial management solution, has excellent customer service. It provides real-time help by phone, email, and a built-in chatbot on its website 24 hours a day, 7 days a week. The automated chat feature can answer common queries (FAQs) or link you with a customer support agent.
Basic Support is included with all NetSuite subscriptions, with Premium and Advanced Support options available for those that want more assistance. From online case submissions to performance monitoring, each solution offers different service levels and capabilities. Every user gets free access to a searchable knowledge base and support community, which includes articles and videos on how to use the software.
Customer Service for QuickBooks
QuickBooks Online has a number of assistance options, both inside the application and on its website. Its searchable knowledge library, which includes help pages, video tutorials, webinars, and paid courses, has the most complete information. You may also contact the support staff by clicking the “Contact us” button at the bottom of the assistance window. You may also contact an agent or ask a question in the community forum. The two negatives of QuickBooks Online’s support capabilities are that agents are not accessible 24/7 and that you cannot contact QuickBooks Online directly; instead, you must submit a request for them to call you.
In the upper right corner of QuickBooks Online, there is also a support button. In QuickBooks Labs, you may also activate the QuickBooks Assistant, an artificial intelligence (AI) live chat that can help you with inquiries like “which clients are late with their invoices?” Another alternative is to look for and employ a QuickBooks Pro Advisor, or to join up for QuickBooks Live, which offers online accounting help for a cost.
Takeaway: Phone, chat, and email assistance, as well as a searchable knowledge base, a community forum, video lessons, and webinars, are all available via NetSuite and QuickBooks. One significant difference between the two is that NetSuite provides 24/7 phone assistance, but QuickBooks Online does not enable direct phone calls and instead requires clients to file a call request.
Conclusion
QuickBooks Online is great for small companies in a range of sectors, and the software is both user-friendly and expandable. While NetSuite has the majority of its connectors built into various modules, such as inventory management and bill payment, QuickBooks Online depends on hundreds of third-party applications to do many of the same tasks.
NetSuite is not well-suited for a small firm with simple accounting requirements due to its high price point. However, if your company is expanding globally and you expect to require an ERP platform to handle everything, it may be a great option that puts you on the road to success.
The “netsuite vs quickbooks” is a comparison of the two software. NetSuite is used for small businesses and QuickBooks Online is used for larger companies. Reference: netsuite vs quickbooks youtube.
Related Tags
- netsuite vs quickbooks reddit
- netsuite accounting
- netsuite vs sage
- quickbooks online vs desktop
- quickbooks vs xero
