QuickBooks Xero Machine Learning
QuickBooks Xero Machine Learning
Intuit’s QuickBooks Xero Machine Learning is a big reason QuickBooks is now winning. My thanks to Amit Chowdhry and Forbes for How Intuit Customers Benefit From Machine Learning.
I talked about automatic entry processing for many years. Good programs are the fastest, easiest and most accurate way to classify entries. Without accurate account assignments, it is often impossible to use financial records to manage a business.
Machine Learning account classification is far more accurate than that made by 40+ million small business owners and employees. They have little or no accounting training. For them, accounting is like a trip to the dentist. Most still use Excel or pencil and paper.
Intuit worked on Machine Learning for 10 years. Recently announced Xero Machine Learning is a limited two-year project. Intuit CEO Brad Smith told me he put 75% of development money online about 7 years ago. It was a surprise. It’s QuickBooks Online then had about 2% of QuickBooks users and was not well regarded.
QuickBooks Xero Machine Learning
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You can now have QuickBooks quickly copy rules between users to classify entries. This is a terrific time saver for those with several companies, such as CPAs. QuickBooks also uses what it LEARNS FROM ALL USERS FOR EACH USER. It has far more users to give it information. This lets it better decide choices, even if users or accountants have no classifying rules.
By contrast, Xero makes us make repeatedly make the same change countless times. This is due to separate Xero machine learning for each company. It does not consider changes made in any other company, much less all companies. That is why I say Xero has Brain-Dead Machine Learning.
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QuickBooks also has a global search and replace (Reclassify Transactions). It is light years faster, easier and more effective than the comparable Xero Find and Recode. The Xero alternate was over-promised, long-delayed, limited and buggy. This lets QuickBooks save time and increase record accuracy and quality vs Xero.
I was once #1 in U.S. Xero clients. However, these are some of the many reasons why I dropped Xero.
QuickBooks vs Xero Machine Learning
