Many small businesses struggle to keep on top of their finances due to the manual nature of bookkeeping. Thankfully, there are many accounting software options that can automate many of the tasks involved in financial management. NetSuite and QuickBooks are two of the most popular options available. Both NetSuite and QuickBooks can save you time by automating many of the tasks involved in bookkeeping. However, they differ in terms of their features and pricing. Here’s everything you need to know so that you can decide which is best for your business.
NetSuite vs. QuickBooks: At a Glance
NetSuite and QuickBooks are both accounting and bookkeeping software programs, but they differ in terms of their scope and complexity. NetSuite is a comprehensive business management solution that offers advanced features such as customer relationship management (CRM), enterprise resource planning (ERP) and e-commerce solutions. In contrast, QuickBooks is a simpler program that is ideal for basic accounting tasks such as invoicing, payroll and mileage tracking. While both programs have their drawbacks, NetSuite is generally considered to be more robust than QuickBooks.
NetSuite
Starting Price
Custom
Integrated Payroll
Yes
Sales Tax Returns
Yes
Custom
Yes
Yes
Oracle’s NetSuite offers so much more than business accounting. It provides a single, integrated platform for your ERP, CRM, e-commerce software, inventory and fulfillment management to streamline operations, improve visibility into data and scale effectively.
NetSuite also offers powerful analytical tools to help businesses make informed decisions and drive growth. NetSuite software is available in both on-premise and cloud-based deployment models. It’s a highly scalable solution that can be customized to meet the specific needs of businesses of all sizes but is best suited for international businesses with complex accounting and ERP needs.
While you must contact its sales team for a custom quote, expect to spend thousands of dollars per month for several dozen users. This monthly price is in addition to its one-time setup fee.
- An all-in-one solution for most larger businesses
- Unlimited billable clients
- Works with multiple currencies
- Pricing isn’t transparent
- Its advanced features make it expensive
- Not ideal for small businesses
QuickBooks
Starting Price
$17.50 per month
(for your first three months, then $35 per month)
Integrated Payroll
Yes
Sales Tax Returns
Yes
$17.50 per month
(for your first three months, then $35 per month)
Yes
Yes
Intuit QuickBooks is a software program that helps businesses manage their finances. It can be used to track income and expenses, create invoices and receipts, and generate reports. Businesses also have the ability to connect to their bank accounts and credit card companies, making it easy to keep track of all their financial information in one place.
QuickBooks comes in two different versions: QuickBooks Desktop and QuickBooks Online. The former is installed on a user’s computer, while its Online version is a cloud-based program that can be accessed from any internet-connected device. Both versions of QuickBooks offer similar features, but QuickBooks Online has some additional features, such as real-time collaboration on the go and hundreds of app integrations.
Its Online version starts at $17.50 per month for your first three months. Another notable difference between versions is its Online version allows for up to five users at no additional cost, and Desktop plans have limits to the number of users before you must pay more.
- Unlimited billable clients
- It’s easy to use
- Can sign up without speaking to a sales team
- Most plans require you to pay for additional user access
- Payroll costs extra
- Limits on the number of users who can access data
NetSuite vs. QuickBooks Features
Although both NetSuite and QuickBooks are popular accounting software programs, they each have their own strengths and weaknesses. QuickBooks is better suited for small businesses that have a limited number of transactions, while NetSuite is a more robust system that can handle a higher volume of transactions and it can scale to meet the needs of larger businesses.
General Ledger
Both NetSuite and QuickBooks offer a general ledger for managing your company’s financial records. This includes recording financial transactions, creating financial reports and analyzing financial data. NetSuite’s general ledger allows for greater flexibility and customization, while QuickBooks offers a simpler and more straightforward approach.
Cash Management
NetSuite and QuickBooks include cash management features, allowing you to track your cash flow, reconcile bank accounts and manage expenses. NetSuite’s cash management tools are more comprehensive, offering real-time cash visibility and forecasting, while QuickBooks offers a simpler approach with easy-to-use bank reconciliation tools.
Accounts Receivable
Both NetSuite and QuickBooks have accounts receivable capabilities, allowing you to create invoices, track payments and manage customer accounts. NetSuite’s accounts receivable tools offer greater automation and customization, allowing you to set up payment terms, automate billing and manage collections. QuickBooks offers a more straightforward approach with easy-to-use invoicing tools.
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Maxim Liberty
From $50/month, Flexible Plans
Highly Rated, Money Back Guarantee, US-based LLC with operations in India
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Merritt Bookkeeping
$250/month (90 Day Guarantee)
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Accounts Payable
NetSuite and QuickBooks also offer accounts payable features, allowing you to manage vendor bills, track expenses and make payments. NetSuite’s accounts payable tools offer greater automation and customization, allowing you to set up payment terms, automate approval workflows and manage payments across multiple currencies. QuickBooks offers a simpler approach with easy-to-use bill payment tools.
Tax Management
Both NetSuite and QuickBooks include tax management tools, allowing you to calculate and manage sales tax, as well as handle payroll taxes. NetSuite’s tax management tools offer greater automation and customization, allowing you to calculate tax automatically, manage tax schedules and generate tax reports. QuickBooks offers a simpler approach with easy-to-use tax calculation tools.
Close Management
NetSuite and QuickBooks offer close management features, helping you to streamline the financial close process and ensure compliance with accounting standards. NetSuite’s close management tools offer greater automation and customization, allowing you to automate the close process, manage period-end close and generate close reports. QuickBooks offers a simpler approach with easy-to-use period-end tools.
Fixed Assets Management
NetSuite offers fixed assets management, allowing you to track and manage the value of your company’s fixed assets over time. This includes managing depreciation, tracking asset values and generating asset reports. QuickBooks does not have this capability.
Payment Management
Both NetSuite and QuickBooks offer payment management features, allowing you to manage and process payments to vendors and customers. This includes creating payment schedules, tracking payment status and generating payment reports. NetSuite’s payment management tools offer greater automation and customization, allowing you to automate payment workflows and manage payments across multiple currencies.
Time Tracking
Both NetSuite and QuickBooks have time tracking capabilities, allowing you to track employee hours, manage time off and process payroll. This includes creating time sheets, tracking time spent on specific tasks and generating time-based reports. NetSuite’s time tracking tools offer greater automation and customization, allowing you to automate time-based workflows and manage employee time across multiple projects.
Inventory Management
Both NetSuite and QuickBooks offer inventory management features, allowing you to track inventory levels, manage purchase orders and fulfill orders. This includes tracking inventory levels in real time, managing inventory across multiple locations and generating inventory reports. NetSuite’s inventory management tools offer greater automation and customization, allowing you to automate inventory workflows and manage inventory across multiple channels.
Cash Flow
NetSuite and QuickBooks offer cash flow management features, allowing you to track your company’s cash inflows and outflows, predict cash needs and make informed financial decisions. This includes creating cash flow projections, monitoring cash balances and generating cash flow statements.
Project Profitability
Both NetSuite and QuickBooks have project profitability capabilities, allowing you to track project costs, revenue and profitability. This includes tracking project expenses, creating project budgets and generating project profitability reports. NetSuite’s project profitability tools offer greater automation and customization, allowing you to automate project workflows and manage project profitability across multiple projects.
Mileage Tracking
NetSuite and QuickBooks offer mileage tracking features, allowing you to track and manage employee mileage expenses for tax and expense reporting purposes. This includes tracking mileage expenses, generating mileage reports and calculating mileage reimbursement amounts.
Payroll
QuickBooks offers built-in payroll features, allowing you to process payroll, manage employee data and generate payroll reports. NetSuite does not have built-in payroll capabilities, but Netsuite’s SuitePeople Payroll System is available at an additional cost. They also offer integrations with third-party payroll providers.
Workflow Automation
Both NetSuite and QuickBooks offer workflow automation features, allowing you to automate repetitive accounting tasks and streamline financial workflows. This includes creating workflow rules, automating approval processes and generating automated notifications.
Batch Invoices and Expenses
QuickBooks offers batch invoicing and expense management features, allowing you to create and send multiple invoices and expense reports at once. NetSuite offers expense management capabilities through its Netsuite Expense Management product, but that comes at an additional cost to the main version of the platform.
| NetSuite | QuickBooks | |
|---|---|---|
| Prices Start At | Custom | $17.50 per month (first three months, then $35) |
| Capture and Organize Receipts | Yes | Yes |
| Track Mileage | Yes | Yes |
| Invoicing | Yes | Yes |
| At-a-Glance Cash Flow Snapshot | Yes | Yes |
| Maximum Users | Unlimited | Up to 40 |
Pricing and Value
NetSuite is a more comprehensive solution with advanced features, such as CRM, ERP and e-commerce solutions. However, it is also a more expensive option that requires a custom quote. QuickBooks is a simpler and more affordable option that offers a range of pricing plans to suit different business needs.
QuickBooks vs NetSuite Pricing
Support and Ease of Use
NetSuite’s interface can be more complex than QuickBooks, as it offers a wider range of features and tools. However, NetSuite also provides users with training resources and customer support to help them learn and navigate the software. NetSuite’s implementation process can also be more involved, requiring input from IT professionals and financial experts to ensure proper setup and integration.
QuickBooks is praised for its simplistic design and ease of use. Its user-friendly interface and intuitive design make it easy for beginners to navigate and use without extensive training. QuickBooks also offers a ton of online support resources, including training videos, forums and a knowledge base as well as live support options.
Alternatives to NetSuite and QuickBooks
For businesses looking for alternatives to NetSuite and QuickBooks, there are a few options available. In our guide to the best accounting software, we talk about several platforms to suit businesses of all sizes.
| Zoho Books | Xero | FreshBooks | |
|---|---|---|---|
| Prices Start At | Free; $15 per month | $15 per month (discount pricing available) | $19 per month (discount pricing available) |
| Reports | Yes | Yes | Yes |
| Manage Contractors | Yes | Yes | Yes |
| Invoices | Yes | Yes | Yes |
| Read Reviews |
Zoho Books
One popular option is Zoho Books, which offers many of the same features as QuickBooks but at a lower price point. It offers features such as invoicing, expense tracking, financial reporting and project management, among others. If your business already uses Zoho, consider Zoho Books. Get the full breakdown of Zoho Books vs QuickBooks.
Xero
Xero is another popular accounting software that offers a great deal of flexibility and customization. Xero also offers integrations with over 800 third-party apps, such as payment gateways, CRM software and project management tools, providing businesses with more flexibility in managing their finances and other business operations. For more information, read our guide on Xero vs QuickBooks.
FreshBooks
For easy-to-use accounting software, consider FreshBooks. It’s tailored for small businesses and freelancers. FreshBooks provides a suite of features including invoicing, time tracking, expense management, project management and financial reporting. It also offers integrations with various business tools, such as PayPal and Stripe, allowing businesses to streamline their payment processes and manage their finances more efficiently. Learn more about FreshBooks vs QuickBooks.
Featured Partners
1
Bookkeeper360
Starting at $49 per month
Yes
Yes
2
Brainy Advisors
30 days
All Accountants are Licensed CPAs!
Discounted Expedited Catch-up, Led by Big 4 Veterans, Dedicated Bookkeeper, Unlimited Client Calls
3
1-800 Accountant
Starting at $179 per month (no hidden fees or hourly rate)
Yes
Yes
4
Maxim Liberty
From $50/month, Flexible Plans
Highly Rated, Money Back Guarantee, US-based LLC with operations in India
Recon, AP, AR, Reporting
5
Merritt Bookkeeping
$250/month (90 Day Guarantee)
Income Statement, Balance Sheet, Forecasting, Margins, Cash Flow, Runway, etc.
Highly Rated, Insightful Reporting, Easy to Use
Bottom Line
NetSuite and QuickBooks are both great accounting software options for businesses of all sizes. However, they each have their own strengths and weaknesses. NetSuite is best suited for businesses with complex accounting and ERP needs, while QuickBooks is a good choice for businesses that need basic accounting software to track their finances.
Who Is NetSuite Best For?
A powerful and comprehensive business management solution that offers advanced features such as CRM, ERP and e-commerce solutions. It’s ideal for businesses that require a complete solution for managing all aspects of their operations.
Who Is QuickBooks Best For?
A simpler accounting program that is perfect for basic accounting tasks including invoicing, payroll, and mileage tracking. It’s ideal for small businesses or self-employed individuals who only require basic accounting functionality.
Frequently Asked Questions (FAQs)
How is NetSuite different than QuickBooks?
NetSuite is a more comprehensive business management solution that includes advanced features, such as CRM, ERP and e-commerce solutions while QuickBooks is a simpler accounting program for basic tasks.
Which is better: NetSuite or QuickBooks?
Generally, NetSuite is more powerful and robust but also more expensive while QuickBooks is more affordable and simpler to use.
Which is cheaper, NetSuite or QuickBooks?
QuickBooks is the more affordable option, with plans starting at $17.50 per month for the online version. NetSuite requires a custom quote and is generally much more expensive as it’s best for enterprise users.
Is NetSuite or QuickBooks better for beginners?
QuickBooks is considered to be the better option for beginners due to its simplicity and intuitive user interface (UI). NetSuite is more complex and may require more training and expertise to use effectively.