If you’re comparing NetSuite vs. QuickBooks, you’re most likely shopping for comprehensive accounting software for your business.
Despite surface similarities, NetSuite and QuickBooks are for very different customers. This piece will examine user personas for both NetSuite and QuickBooks. And ultimately help you decide which software is the right choice for your business needs.
But first, let’s answer some basic questions. What is NetSuite vs. QuickBooks?
NetSuite vs. QuickBooks: Quick Summary
Oracle’s NetSuite is the number 1 cloud-based ERP in the world. The platform prides itself on being a top-of-the-line business management suite with project management features incorporated into its accounting system. Its tools give you everything you need to keep track of your company’s day-to-day operations.
Financial platforms, human capital management solutions, omnichannel commerce systems, and more exist under the NetSuite product umbrella. The consolidated platform is better suited for large enterprises that can take advantage of all its service offerings,
NetSuite is designed to scale, which means its tools are customizable and remain helpful even as your company transitions in size and operations. Using its ERP and CRM, NetSuite allows you to provide a superior customer experience.
On the other hand, Intuit’s QuickBooks helps (primarily small) businesses manage their finances online. QuickBooks, too, has a sole accounting focus, but its products include Self-Employed, Online, multiple versions of Desktop, Payroll, etc.
QuickBooks also has an Enterprise version designed for large businesses. Its features include:
- Advanced Inventory.
- Advanced Pricing.
- Advanced Reporting.
- Field Service Management.
- Order Management.
- Job Costing.
- Cloud Access
Both platforms can manage and optimize your financial processes and streamline business processes. Also, both solutions are cloud-based, allowing you to access your account from anywhere with an internet connection.
QuickBooks also has a Desktop version—downloaded and installed on a computer. In this review, we’ll focus on the cloud-based version, QuickBooks Online.
NetSuite vs. QuickBooks: The Ultimate Comparison
Now, let’s do a deeper dive into Oracle vs. QuickBooks based on some prime factors: pricing, features, user experience, assisted bookkeeping, integrations, and customer support.
Pricing
Comparing NetSuite’s pricing vs. QuickBooks’ pricing:
NetSuite’s Pricing
Because there are so many variables, NetSuite does not provide a generic pricing page on its website. Instead, you have to reach out and request a “free consultation.”
NetSuite then pairs you with a consultant to assist you in buying a NetSuite license. They call this individual a “price architect.” Their job is to assist you in deciding which plan to purchase based on the information you provide. It’s a good starting point.
But make sure to get a second expert opinion, so you don’t pay for features you don’t need.
Your final quote depends on the user license you choose, the number of monthly users, and your required functionality.
However, according to Better Buys, NetSuite has a base price of $999 per month, with an extra $99 per month for every user you add.
QuickBooks’ Pricing
In contrast, it is straightforward to find QuickBooks’ pricing. The platform’s website features QuickBooks plans in traditional tiered pricing, which are much more transparent and make things a lot easier.
QuickBooks offers four payment plans, each of which increases in price as the level of functionality increases. The cheapest option, “The Simple Start,” is the first tier–it includes the most basic features, accessible only to one user.
The ” Essentials” is the next tier up. It includes all of the previous plan’s features and some new ones, such as the ability to include two more users and pay bills.
Next is the Plus plan, with support for up to five users. The Plus plan also offers more functionality—such as inventory tracking and profitability projections.
QuickBooks also has several paid add-ons, such as QuickBooks Payroll, Tsheets, and others, that you can use for an additional monthly fee.
The Advanced Plan is the final tier—-it is the most robust and the most expensive. It includes all of the other plans’ features and support for more than five users. Users get access to process automation, employee expenses management, batch invoicing, integrations, and more on the advanced plan.
There’s also a plan for self-employed users or freelancers—and they cost less than the Simple Start but with limited functions.
However, your location determines the QuickBooks’ plans available to you. For example, if you live in Ireland, there are only three plans available to you—all except the Advanced plan. Only residents of the United States have access to all four options.
QuickBooks allows you to pay for its services monthly or annually. If you pay annually, you’ll save a lot of money.
The Winner: QuickBooks’ transparent and straightforward pricing wins this round. Also, QuickBooks offers a free trial period for all its plans. NetSuite doesn’t.
Features
It’s impossible to compare NetSuite and Quickbook because NetSuite is a comprehensive, all-in-one solution with more product offerings. As a result, we’ll highlight NetSuite’s other ERP features and compare them to QuickBooks solely based on finance/accounting features.
Unlike QuickBooks Online, which has four different subscription plans, NetSuite ERP has a single platform that you can customize and adapt to meet your company’s specific needs.
These include:
- Financial management: Finance and accounting, billing, revenue recognition, financial reporting, global accounting, and consolidation.
- Inventory management: Inventory management automation, inventory tracking, stock management, replenishment.
- Order management: Pricing and promotions, sales order management, returns management.
- Production management: Product data management, work order management, planning and scheduling, quality assurance.
- Supply chain management: Planning, execution, collaboration, support.
- Warehouse and fulfillment: Inbound logistics, wave management, cartonization, outbound logistics, warehouse solutions, cycle count planning, real-time inventory updates, and shipping system integrations.
- Procurement: Sourcing, purchasing, payments.
The features you need to manage your books, taxes, and payments are all available in NetSuite’s finance and accounting functionality. The following features are available in NetSuite ERP:
- Customizable general ledger.
- Accounts receivable and accounts payable management.
- Automated domestic and global tax compliance tools.
- Fixed asset management.
- Cash management.
- Payment management with SuitePayments for payment processing.
NetSuite allows you to manage your accounts receivable and payable, integrate with your financial institutions, and have multiple users. It also has an extensive report library, including parent and subsidiary reports users can view in either the home currency or the subsidiary’s currency.
Now let’s see how QuickBooks fares in the features department.
QuickBooks Online Features
Between QuickBooks’ four plan offerings, the platform can manage various bookkeeping and accounting processes. Check out QuickBooks’ Pricing and Plans pages to get an in-depth lowdown of the features in each package.
QuickBooks provides tools for the everyday accounting processes of a business owner— recording invoices, deposits, sales receipts, credit memos, cash expenses, locating overdue accounts, and more.
However, it lacks the granular, genuinely comprehensive functionality of NetSuite ERP and cannot handle medium-to-large business needs.
The Winner: NetSuite wins. Even though QuickBooks is frequently recognized as one of the most feature-rich accounting solutions for small businesses on the market, it lacks the specificity and range of functionality offered by NetSuite ERP.
User Experience
Now let’s talk User Interfaces. When you launch both NetSuite and QuickBooks Online, both platforms greet you with a dashboard displaying a wide range of valuable reports. You can customize these dashboards according to the user’s access privileges and specific needs.
However, the sheer volume and complexity of data in NetSuite’s UI may be intimidating.
Users have claimed that the UI is difficult to use. If you don’t have any past expertise with the program or someone to lead you through the process, it’s possible to get lost in it.
The QuickBooks Online Dashboard is similar to NetSuite’s in that it displays a lot of information right away. But the UI has a few distinct design decisions that make navigation easier. For instance, QuickBooks has a left menu bar instead of menu tabs across the top of the screen that allows you to navigate to different areas of the software. The layout for each is different, making the QuickBooks Online dashboard less cluttered than NetSuite’s.
As a plus, QuickBooks’ interface looks more modern than NetSuite’s—which has an outdated, vintage feel about it.
QuickBooks also has an easier learning curve, making it a more appealing option for ease of use, especially for newbie users.
The Winner: QuickBooks wins this round. The program is much easier to use, and it looks far nicer than NetSuite.
Assisted Bookkeeping
QuickBooks Live matches you with a virtual bookkeeper if you need bookkeeping assistance. While some day-to-day accounting responsibilities, such as accounts receivable, account payable, customer invoicing, and inventory management, are not included in the service, it provides monthly financial reports and video sessions where you may ask questions and review report data.
Once you’ve signed up, your bookkeeper will work with you to get your books up to date and set up your chart of accounts and bank connections. The cost of monthly bookkeeping services begins at $200. One of the most attractive features of this service is the assurance of entirely accurate books.
NetSuite cloud also provides accounting software that streamlines the process of recording transactions, managing payables and receivables, collecting taxes, and closing the books.
This allows for more timely, accurate reporting and better financial asset control. With real-time access to financial data, you can quickly drill into details to resolve issues and generate statements and disclosures to comply with multiple regulatory financial compliance requirements, including ASC 606, GAAP, SOX, and more.
NetSuite’s accounting service, on the other hand, is not its strong feature; because the platform isn’t niche-based like QuickBooks, it can’t provide the same level of accounting services.
If you prefer NetSuite’s ERP as a management platform, you may enlist the help of third-party accounting services, which you can then connect with NetSuite.
The Winner: QuickBooks and NetSuite tie in this round. QuickBooks’ accounting offerings are more streamlined than NetSuite’s, but the price tag could be a barrier. On the other hand, NetSuite has decent accounting tools built-in, but accurate and thorough bookkeeping would most likely require a third party.
Integrations
As an all-in-one solution, NetSuite does not require many third-party integrations. However, if you manage your operations with other vendors, you can use NetSuite’s open APIs to add new integrations.
NetSuite makes integration seamless with SuiteCloud Connect, a series of packaged solutions for integrating with leading enterprise applications and systems. NetSuite also provides training and consulting services to customers who run into hurdles while setting up an integration.
On the other hand, QuickBooks Online has more than 650 third-party integrations to choose from. And two that you can access directly from the software. They are:
Payroll in QuickBooks: With this tool, you can pay and manage your employees all in one location. You will have access to payroll, tax filing, health benefits, workers’ compensation, and other HR activities.
QuickBooks Time: Automate time tracking by allowing employees to monitor their time from any place on any device using QuickBooks Online. This information will sync with your QuickBooks account in real-time, making payroll more convenient.
The Winner: There is neither victor nor vanquished in this round. The final decision will boil down to personal preference. NetSuite’s built-in integrations are efficient and convenient, but if they’re not suitable for your business operations, you’ll use third-party services. QuickBooks’s third-party approach can be time-consuming and expensive, but you can make decisions right from the start.
Customer Support
In addition to their extensive knowledge bases, NetSuite and QuickBooks provide live support via phone and chat to their customers. They both have a wealth of support resources, such as community forums, video tutorials, and webinars.
Let’s closely compare QuickBooks to NetSuite based on support systems.
NetSuite Customer Support
Customer service is excellent throughout NetSuite’s ERP platform, including its financial management solution. It offers real-time support 24 hours a day, 7 days a week via phone, email, and a built-in chatbot on its website. The automated chat feature can provide you with answers to frequently asked questions (FAQs) or connect you with a customer service representative.
All NetSuite subscriptions include Basic Support, with Premium and Advanced Support options available if you require additional assistance. Each option offers different service levels and capabilities, ranging from online case submission to performance monitoring. Every user has unrestricted access to a searchable knowledge base and online support community.
QuickBooks Customer Support
There are several ways to get help with QuickBooks Online, both within the program and on the company’s website. Its searchable knowledge base contains the most comprehensive information available, including help pages, video tutorials, webinars, and paid courses. You can also contact the support team by going to the bottom of the help window and clicking the “Contact us” link.
Alternatively, you can send an agent a message or post a question in the community forum. Agents aren’t available around the clock, and you won’t be able to call QuickBooks Online directly; instead, you’ll need to submit a request for them to contact you.
You can also enable the QuickBooks Assistant, an artificial intelligence (AI) live chat, to assist you with basic queries. Try asking a question like, “how many orders did we receive on May 4th?”.
So, NetSuite vs. QuickBooks: Which One Wins?
The big question is: which is better, “QuickBooks or NetSuite”? Well, there isn’t a simple, straightforward answer to that. Your choice will depend on your specific needs and your business size.
If you’re a small to medium business that already has management software and only needs accounting, QuickBooks is an affordable, efficient solution.
If you’re looking for an operation software to handle all your business processes, we recommend NetSuite. It’s a more significant investment, but it’ll prove helpful as your company expands and evolves.