Do you want to cut total accounting costs by more than half? QuickBooks, Xero

Filed in Intuit QuickBooks, Xero by on April 4, 2012

I based this on an email to a client:

Do you want to cut total accounting costs by more than half, while insuring that your records are always totally accurate and up-to-date?

You must pay a salary. You will soon spend $200 to $350 on QuickBooks payroll. Why waste substantial amounts of your time, on QuickBooks manual payroll, when we can quickly automate payroll for about half the out-of-pocket cost?

Even if you never make one payroll mistake, why risk the many government paper-return mistakes (with penalties, interest and wasted time)?

You also should have heard about Xero. It is the first real accounting revolution since Quicken, 28 years ago. It automatically downloads all your business and personal bank, credit card and financial institution transactions daily. This is the fastest and easiest way to check all your account balances and transactions in one place.

Xero uses simple automatic rules to classify all deposits and credit card, debit card, e-payment and fixed amount payments. It can even split many payments between accounts. This increases identity theft and fraud protection, by making it more likely you will see unusual items sooner. There is no risk, since it is strictly read-only, unless you use e-payment add-ons from your bank or third parties. Many redundant computers, in several highly secure locations, also keeps it always up, 24/7, from anywhere.

Xero is so inexpensive that I have yet to bill a client for it. You can still use QuickBooks with it, but I doubt you will want to keep wasting your time that way for long. That is why Xero almost doubled its number of users in 2010 and increased them eight times in 2011.

So, do you want to keep doing things the same way, or do you do you want to cut your total accounting costs by more than half, while insuring that you are always totally accurate and up-to-date?

The response:

I want to keep using QuickBooks.


My follow up:

I understood that it was likely that you would want to keep using QuickBooks. However, as a long-time QuickBooks expert and insider, I asked you to explain WHY you want to waste more than half your accounting and payroll time and money, to produce a vastly more out of date and error prone product. This is especially important since the alternative is so easy that any non-accountant can use it (or let us do it) for far less.

I suspect that may be something you cannot even explain to yourself, much less to your husband or me. However, it is something I would really like to know for my discussions with others. 


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Fastest, easiest, accurate, low-cost QuickBooks! Intuit - QuickBooks CEO, "You're fantastic Mike! Absolutely fantastic!" Tax fighting CPA.

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