When it comes to tracking your finance and transactions, there are multiple software products to help you. However, not all products are alike and do not produce the same benefits for your business. Small and mid-sized businesses often struggle to choose one product among so many because of not having clarity of the product features and how these features may complement their business. Today, we will compare Spendwise with QuickBooks to understand which software can be a better choice for your business.
What Is QuickBooks?
QuickBooks is accounting software for small and medium businesses that provides accountants with real-time access to customer, vendor, and employee information. The software includes tools for invoicing, reporting, pricing, sales orders, shipping, inventory management, and more. It also allows you to use connected services for banking and payroll to enhance its capabilities. The software is designed to simplify accounting to the extent where even non-accounting professionals use it without any difficulty.
What Is Spendwise?
Spendwise, formerly Officewise, is cloud-based purchase order software that helps users working in small and mid-sized businesses manage their accounting and finance processes. This procurement software comes with inventory tracking features. Spendwise allows you to create purchase orders for vendors and sales orders for customers. It automatically updates your inventory and costs as the purchase orders are filled. In addition to inventory tracking features, Spendwise offers a set of reporting tools.
Which Software Is Better?
Both software programs address your accounting requirements efficiently by allowing you to track income, expenses, sales, and unpaid bills. Also, you get multiple reporting and inventory tracking features with both QuickBooks and Spendwise. However, QuickBooks offers more comprehensive reporting capabilities.
One of the major differences is that, while it is possible to accept credit cards, debit cards, and ACH bank transfer with QuickBooks Payments, this data can only be recorded in Spendwise. While product-focused businesses looking for a low-cost accounting solution may like Spendwise for its inventory features, QuickBooks has more powerful features suitable for businesses of all types. You can use either of the software depending on your requirements or integrate them to save time and effort required for accounting and procurement.
How to Manage Your Accounts on the Go?
Among all the products in the QuickBooks product line, QuickBooks Desktop stands out with its robust feature-set and integration options. If your business needs one single solution to streamline various accounting, inventory, reporting, and banking processes, QuickBooks Desktop is the solution you need. You can deploy the software in the cloud to access its features from anywhere in the world. Hosting also makes the software independent of the device you use. Apps4Rent is an Intuit Authorized QuickBooks Host and offers you curated QuickBooks hosting plans to manage your accounts on the go. Contact our QuickBooks hosting team, available 24/7 via phone, chat, and email for hosting plan inquiries.