Moving from Wave Accounting to ... Xero or Quickbooks?

Discussion in 'Accounts & Finance' started by 19ninety, Aug 28, 2019.

  1. 19ninety

    19ninety UKBF Regular Free Member

    183 17
    Moving from Wave Accounting to ... Xero or Quickbooks?

    There's a couple of things happening this year which have me thinking it may be time to move on from Wave free accounting software:

    • PSD2
    • MTD

    From September 10th Wave will no longer continue importing transactions from bank accounts and PayPal. A small monthly fee is something I'd happily pay to avoid having to log in to both my banking and PayPal to download statements which then have to be uploaded in to Wave.

    It's possible next year that my company will go over the VAT threshold, for simplicity it would be good to use a single solution for VAT return.


    From all the things I've read so far I'm leaning towards Quickbooks Online "Simple Starter" tier...
     
    Posted: Aug 28, 2019 By: 19ninety Member since: Nov 22, 2015
    #1
  2. YourCloudAccountant

    YourCloudAccountant UKBF Regular Full Member

    106 12
    So I use both and if a client asks me I recommend quickbooks. Firstly it's cheaper and I get it even cheaper as a partner. Xero can cost £30 a month even with the temporary discounts.

    Secondly, I think end users find quickbooks easier to use.

    For quickbooks you can start on simple start and move to the next tier above when you register for VAT.

    I am sure others will have other opinions and I have just shared mine
     
    Posted: Aug 28, 2019 By: YourCloudAccountant Member since: May 4, 2019
    #2
  3. MyAccountantOnline

    MyAccountantOnline UKBF Legend Full Member

    12,770 2,366
    Out of interest why only Xero or QuickBooks? You have lots of choice.
     
    Posted: Aug 28, 2019 By: MyAccountantOnline Member since: Sep 24, 2008
    #3
  4. 19ninety

    19ninety UKBF Regular Free Member

    183 17
    There are many to choose from... maybe too many to make a fully informed decision alone? Through the comparisons I have done, Xero and QBO seemed the best alternatives with comparable features and popularity (popular platforms must be good for a reason), QBO edging ahead on price.
     
    Posted: Aug 28, 2019 By: 19ninety Member since: Nov 22, 2015
    #4
  5. Nighthawk Software

    Nighthawk Software UKBF Contributor Free Member

    53 12
    I think a lot of it all comes down to personal preference. Try both and see which you prefer.

    Personally I moved from Wave to Quickbooks a few years ago, i just found it far more visually pleasing and a lot more user friendly.
     
    Posted: Aug 28, 2019 By: Nighthawk Software Member since: Feb 12, 2016
    #5
  6. ecommerce84

    ecommerce84 UKBF Regular Free Member

    561 167
    I’m in the same boat with regards to Wave.

    I’ve been trying a few out as I have a bit of time to make the switch. Xero is very good but I agree with @YourCloudAccountant that Quickbooks is easier to use.

    Both an be ‘grown into’ as the business develops and will have all the tools on hand that you need.

    I’m intending to try Kashflow as well, and I’ve heard good things about Pandle which is at the budget end.

    I’m expecting a reasonable chunk of UK businesses using Wave will be looking at alternatives and if not they should be as they have already stated they won’t support Self Assessment when it goes down the MTD route.

    It’s a shame as I quite like Wave, it’s very intuitive and well designed.
     
    Posted: Aug 29, 2019 By: ecommerce84 Member since: Feb 24, 2007
    #6
  7. Nico Albrecht

    Nico Albrecht UKBF Enthusiast Full Member - Verified Business

    568 92
    Personally I moved away from QBO. It got really buggy and slow in the last year and their support is useless to be honest.

    Biggest problem I had was sync paypal with international transactions, this broke the whole thing for 30 days. In the end I went with zoho books and quite happy. At around £18 you get a lot of features xerox and QBO is missing.
     
    Posted: Aug 29, 2019 By: Nico Albrecht Member since: May 2, 2017
    #7
  8. 19ninety

    19ninety UKBF Regular Free Member

    183 17
    Zoho seems very good looking at comparison/product reviews, I haven't trialled it, I'm reluctant to though going by the TrustPilot user reviews. I understand Zoho offer a suite of apps which any of those reviews could relate to instead of Zoho Books ... but the reviews don't inspire me with confidence.
     
    Posted: Sep 2, 2019 By: 19ninety Member since: Nov 22, 2015
    #8
  9. Nico Albrecht

    Nico Albrecht UKBF Enthusiast Full Member - Verified Business

    568 92
    yeah their trust pilot reviews are only 1 star but this goes for other companies as well e.g Currys. Never used Xerox because the pricing is to high for what i need it for. Only had to contact zoho once and they sorted it right away via chat. I would stay as far away as possible from QBO. Zohos level of customization is awesome but xeros seems to be quit good based from what i heard but twice as expensive.
     
    Posted: Sep 2, 2019 By: Nico Albrecht Member since: May 2, 2017
    #9
  10. 19ninety

    19ninety UKBF Regular Free Member

    183 17
    Ended up going with QBO.
    I just didn't get good vibes from Zoho after my communications with them.

    Perhaps Wave should consider a reasonably priced paid tier which supports automatic imports.
     
    Posted: Sep 7, 2019 By: 19ninety Member since: Nov 22, 2015
    #10
  11. Glenn Martin

    Glenn Martin UKBF Regular Free Member

    173 45
    Xero is market leader in the field it has better links with direct bank feeds and a good integration with Paypal. There are 5 versions of the software from basic to multi currency version.

    Pricing wise the cashbook version is £5 bought via and accountant, which maybe all you need.

    I looked at QBO but did not find it as good as Xero, clients made more mistakes in QBO and they are not as easy to put right.

    I find the extra few quid for Xero is worth for the reliability of the bank feeds alone, you will see the benefits of that as you grow.

    Someone above mentioned they were looking at Kashflow, don't its dreadful.
     
    Posted: Sep 9, 2019 By: Glenn Martin Member since: Oct 1, 2015
    #11