BooksTime Software Review 2022

Find out how to open a business bank account in Canada, including the documents required, and top Canadian business account options. Read this PayPal invoice guide to discover how to create and send invoices in PayPal, and how much this service costs. If you just want to dip your toes into the water with some accounting software, then the generous first 3 months free offer from Sage should make it easy to do so. With Sage, regardless of which pricing plan you sign up for, you’ll be able to send as many invoices and bills as you need to. In terms of the cost of using Xero payroll and Xero invoice software, businesses must agree to a monthly subscription fee.

Next up, the Growing package costs $32 per month and lets you send invoices and quotes, enter bills and reconcile bank transactions. Xero’s Established plan, meanwhile, is $62 per month and on top of the Established features includes multi-currency, expenses as well as having Projects, which allows for project time tracking and costing. BooksTime is cloud-based accounting software, meaning it’s accessible from any device, anywhere you have internet. With BooksTime software, you can automate and streamline your core bookkeeping and accounting tasks, as well as related business processes such as inventory tracking, project management, and payroll.

Xero Review: Pricing & Features In 2022

With Xero’s accounting software you can quickly generate customized reports to understand exactly what’s happening in your business at any given time. Some accounting programs only allow monthly reports, but Xero’s reporting is flexible and interactive. It’s easy to share and collaborate on reports with your accountant or financial advisor so you’re well-informed to execute your business strategy. The Xero mobile app is free Certified Public Accountant with every plan, which is incredibly useful. Invoices and payments on-the-go are common needs for small business owners, but Xero’s mobile app allows you to run customized reports to access your customer profiles, and to respond to quotes right away. A small business owner will enjoy the seamless nature of linking their bank account to their Xero account, importing bank transactions, and automatic bank reconciliation.

• Although you’ll have to pay for the BooksTime payroll service separately, their partnership with BooksTime gives you access to a two-month free trial.
• There’s a reason that BooksTime has grown so quickly and has become a top BooksTime alternative—this platform has significant features to offer business owners.
• Xero provides a new innovative collaboration tool known as Discuss allowing your clients to seamlessly communicate with you and gain more information about the products.
• BooksTime plans start at $39 a month (plus an additional $6 a month per payee) and include automatic payroll tax filing.
• To create a recurring bill, you can click on the arrow, then hit the “new repeating bill” button.

The recent navigation bar change seems to make accessing features more difficult by requiring more clicks rather than streamlining the BooksTime software. Xero tries to throw you as many bones as possible by adding a video or help article to the top of every page you open.

BooksTime Software: Advantages And Disadvantages

Xero is available in three sizes, namely Small (£12 per month), Medium (£19 per month) and Large (£24 per month). If you take the small package, you would have a limitation of 20 bank transactions, while the medium package can provide you with unlimited bank and invoice transactions. The large package is a wholesome plan which also has the options for adding multiple currencies. As an accountant, you can register for the free partner edition and manage multiple clients with ease. I don’t have a huge amount of experience with accounting software, but I love Xero.

You can easily customize your invoices with your brand’s name, colors and logo. Another cool feature is that if you don’t know what kind of categories to set up, or how a transaction should be categorized, you can leave a comment in the Discuss section of the Reconciliation tab . Click the All Available Transactions option and it will begin to sync your checking account.

One of the most notable features lacking from the Early and Growing plans of BooksTime software is time tracking. For small service-based businesses or sole proprietorships, time tracking capabilities can be an important part of an accounting solution. In fact, many other accounting systems—BooksTime, BooksTime Online—include time tracking features in their most basic or secondary level plans. Finally, BooksTime is not only flexible in these ways, but also in its approachability for all types of business owners.

Applicant Tracking

There are mobile apps for both iOS and Android devices that allow you to enter and approve invoices, add payments, track expenses, and add receipts. Xero reporting options continue to improve with each new release with new report options added regularly. Recently added is the ability to create a report from scratch and save it for future use. Along with standard financial statements, Xero includes tax, purchases, sales, accounting, and inventory reports. Xero is an accounting software that offers the convenience of running your business from anywhere. You can access Xero-certified independent accountants and bookkeepers or accounting firms in Xero’s Advisor Directory. Aside from Xero advisors, Bookkeeper360 also offers assisted bookkeeping services for Xero users.

• Competing accounting apps for small businesses do not offer a comparable feature.
• Pricing for BooksTime starts at $39 per month, plus $6 per month per person.
• With Xero, you can accept credit card payments through Stripe, which charges 2.9% and 30 cents per transaction.
• The company has begun to roll out updates to reports in terms of both their content and design.
• It has online support but you can’t call them and talk to someone.

Xero also has a community space that encourages ongoing discussion between users. Learning from others’ experience with the software can be invaluable when starting out. Established – $60 per month – allows you to do everything in the Growing subscription plan, as well as get access to Xero Expenses and Xero Projects and multi-currency support.

How Does Xero Work?

The Established plan will also give you the ability to reconcile an unlimited amount of transactions every month through your BooksTime software. Not to mention, you’ll also be able to reconcile an unlimited amount of transactions through your BooksTime software if you go with the Growing plan. The BooksTime Early plan will limit you to 20 reconciled bank statement lines in total each month. Additionally, this plan will not grant you access to cash coding with bank reconciliation. With the BooksTime Early plan, you’ll only be able to use five invoices and quotes per month through your account. Some products, such as tax solutions, Xero local community, multi-factor authentication to fortify security, are exclusively and only available for US customers. Most users agree that Xero offers a seamless installation experience, but the learning curve can become a little intricate.

If your customer accepted the quote, you can send an invoice with a few clicks. Once you set up your bank account and get your feed running, you can start to match up https://www.bookstime.com/ your bank account and Xero’s balances by doing bank reconciliation. For asset management, you can manage fixed assets and check depreciation schedules within Xero.

Luckily, both providers offer 30-day free trials (though if you opt for BooksTime’ free trial, you won’t get the typical 50% off discount the company offers new users for their first three months). You can take both software programs for a test drive before you commit to one over the other. Want to compare more accounting software providers before you make the final call?

Expenses And Bills

The complete online accessibility and easy product setup means you’ll be up and running quickly. Best suited for sole proprietors and small and growing businesses, Xero offers three versions, so you can scale up to a more robust plan as your business grows. In the accounts receivable (A/R) management portion, we took into consideration major aspects like invoice creation, inventory adjustments, and customer payments. For invoice creation, we found that Xero doesn’t give users the ability to customize the invoice in terms of invoice color, layout, and font to the extent of other accounting software. Although Xero lets you customize invoice elements, such as invoice line items, we wanted to see some personalization in creating invoices. You can easily create and add tasks that will be used in time entries, as well as document expenses and estimated expenses. If you prefer to bill for the whole project once it’s been completed you can do so, but you can also send invoices at any time for specified time and/or expenses.

Check out these alternative options for popular software solutions. We like its advanced search feature, which you can use to search invoices using multiple fields and filter them appropriately.

Plus, if cost is first and foremost your top qualification for accounting software, you won’t find a better option than Wave. As a cloud-based system with a robust mobile app, Xero gives you the ability to access your account regardless of location or device.

Some of the most recent improvements from Xero come at a steep cost, and customer complaints do emerge from time to time. For instance, Xero has changed its pricing structure over the years to make it less accessible to small business owners. Even then you can tend to find yourself getting a little tied up in knots such is the powerful array of features on offer. In that respect the built-in help will pay dividends as you use it to navigate any of the trickier aspects of the cloud-based layout. Our priority at The Blueprint is helping businesses find the best solutions to improve their bottom lines and make owners smarter, happier, and richer.

The company acquired BooksTime in 2018 and has maintained a tight integration with it. The service is just what it sounds like, a central hub for many of your financial documents .

There are no outbound phone numbers listed on the site, but the company does respond promptly to its sales email. Once you get in contact with a representative over email, you can set up a time to chat. Xero no longer provides payroll services with its mid- and top-tier plans, but instead recommends adding BooksTime to your plan. Pricing for BooksTime starts at $39 per month, plus $6 per month per person. You can change your plan to a cheaper or more expensive option to fit your business’s needs without incurring additional costs.

GoodFirms has also thoroughly compared and prepared a list of possible Xero alternatives, all within a similar price range, to help prospective customers make an informed decision. Xero does not offer telephone support, but support is available via email.

But these forms lack the more prolific custom fields found in BooksTime Online and BooksTime. If you’re thinking about switching to Xero from a different accounting solution , you may have a lot of accounting data online already. Xero makes it easy to import records, transactions, and some other info from BooksTime Online using its direct-conversion tool.

Author: Michael Cohn

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