Accounting software has come a long way—transitioning from simple bookkeeping applications to robust platforms capable of handling invoicing, payroll, expenses, inventory, and more. These tools empower businesses to streamline operations, enhance accuracy, and gain clearer insights into their financial performance.
QuickBooks and AccountEdge are two standout options, each offering distinct approaches to financial management and operational efficiency.
This comprehensive comparison between AccountEdge and QuickBooks is designed to help you determine which solution aligns best with your business needs and objectives.
GPS tracking, mobile time clock, facial recognition kiosk
Pricing
Starts at $20/month
Starts at $35/month
What Is AccountEdge?
AccountEdge is a desktop-based accounting software designed to help small to medium-sized businesses with financial management. It offers a powerful set of tools, such as invoicing, payroll, and data management, to streamline various accounting operations.
AccountEdge has been recognized for its sophisticated data management and reporting features, securing a place on Forbes' 2024 list of best accounting software. It offers businesses the flexibility and control they need to manage their finances and inventory in detail.
Standout Features
Product Variations: Enables users to define and manage items’ variations like size, color, and style, allowing for more granular inventory organization and tracking
Data Management: Offers robust tools that support data import/export and integrate with Power BI for enhanced data visualization and advanced analytics
Multi-Currency Support: Ideal for businesses with global operations, this feature automatically handles exchange rates and streamlines international transactions
Double-Entry Accounting System: Provides precise journal entries and full visibility into every debit and credit—making it a reliable choice for accountants and seasoned users who prioritize accuracy and transparency.
Pros And Cons
Pros
Easy to use interface, even for non-experts
All-in-one dashboard simplifies accounting tasks
The software offers useful features like payroll liability payments and recurring transactions
Cons
Ongoing program conflicts after extensive setup
Locked into the system without easy migration options
What Is QuickBooks?
QuickBooks, created by Intuit, is a widely trusted accounting software built specifically for small to mid-sized businesses. It provides a robust set of tools to simplify financial management, boost operational efficiency, and drive business growth.
QuickBooks is acclaimed for its user-friendly interface, comprehensive feature set, and scalability, making it a preferred choice among small business accounting software solutions. It also offers multi-currency support, customizable dashboards, and a mobile app for on-the-go access.
Standout Features
Bank Feeds: This feature allows users to connect their bank accounts directly with the platform. The software automatically pulls in transactions from those accounts
Expense Tracking: Makes managing expenses easier by offering a real-time, comprehensive view of a company’s financial status. Users can link their bank accounts, credit cards, and payment services to seamlessly import and categorize expenses
Project Profitability: Helps businesses track and evaluate the costs and profitability of individual projects, offering insights through intuitive dashboards and detailed reports
Live Bookkeeping: Connects users with certified QuickBooks bookkeepers who provide daily support, answer questions, and help maintain well-organized financial records
Pros And Cons
Pros
Efficient in balancing books and generating reports
The software’s financial statement feature is particularly appreciated
Flexible and highly customizable, especially for tracking unique expenditures
Cons
Lacks two-step authentication for better security
Frequent issues require constant customer support contact
AccountEdge Vs QuickBooks: Key Feature Comparison
1. Invoicing
AccountEdge delivers a powerful desktop-based invoicing system tailored for small to mid-sized businesses. Users can generate detailed invoices across various sales formats, including items, services, time billing, and professional sales.
Additional features include tracking of retainers and escrow, salesperson commission management, and integration with AccountEdge Merchant Account for payment processing. However, some users have to send out invoices to customers manually.
QuickBooks invoicing feature allows users to create and personalize professional invoices and then send them directly via email. The software offers support for progress invoicing, allowing businesses to bill in stages based on project milestones. Automation tools like recurring invoices and payment reminders help maintain consistent cash flow. Users appreciate the software’s invoicing capabilities, however, connecting it with Outlook can be challenging.
Winner: QuickBooks stands out with its advanced invoicing automation tools allowing businesses to manage invoicing anytime, anywhere.
2. Expense Management
AccountEdge’s expense management feature enables users to efficiently create and manage purchase orders, process vendor payments, and automate recurring transactions. It supports electronic payments through automated clearing house (ACH) transfers and direct deposits. Additional tools include vehicle mileage tracking, form customization, and the ability to attach receipts directly to transactions.
QuickBooks allows users to connect their bank accounts to automatically import and categorize transactions, minimizing manual work. The mobile app makes it easy to capture and attach receipts to transactions on the go. QuickBooks also includes features like recurring expense tracking, real-time cash flow insights, and custom reporting fields.
Winner: This section ends with a draw. Each platform offers powerful expense management capabilities.
3. Payroll
AccountEdge supports flexible payment options, including direct deposit (via a merchant account) and manual check printing. Users can manage various pay types such as hourly wages, salaries, commissions, and deductions for benefits like 401(k) and healthcare. It also includes features for tracking sick leave and vacation accruals, customizing pay stubs, and generating payroll tax forms.
QuickBooks simplifies payroll management with features such as automated payroll, built-in time tracking, benefits administration, and tax penalty protection. It's often praised as an ideal choice for startups, thanks to its easy setup process and reliable handling of taxes and commission payments.
Winner: This section also ends with a tie, as both platforms offer advanced payroll capabilities.
4. Inventory Management
AccountEdge delivers a feature-rich desktop inventory management system that enables users to track every detail of their inventory. The software also includes serial number tracking and warranty management, making it easy to monitor individual items and their associated warranties. Businesses can build kits from individual components, manage inventory across multiple locations, and generate customizable reports for in-depth inventory analysis.
QuickBooks offers a cloud-based inventory solution built for real-time visibility and efficiency. Inventory levels are updated automatically with each transaction, and users receive low-stock alerts to help prevent shortages. Purchase orders can be quickly converted into bills, while detailed reports provide insights into sales performance.
Winner: QuickBooks takes the lead in this section with its depth of features for detailed inventory tracking.
5. Time Tracking
AccountEdge enables businesses to create activity slips and timesheets to track both billable and non-billable hours, with the ability to classify activities as hourly or non-hourly. It also supports job tracking, helping businesses monitor income, expenses, and profit margins for specific projects. Additionally, for remote access, the optional AccountEdge Connect add-on lets users record activities and timesheets via web-enabled devices.
QuickBooks allows employees to clock in and out, switch jobs or customers, and submit timesheets from any location using the QuickBooks Workforce mobile app or web interface. The platform features advanced capabilities like GPS tracking, geofencing, and facial recognition through the Time Kiosk, helping reduce time theft and improve accountability.
Winner: QuickBooks takes the lead in this section as it offers powerful time tracking capabilities, making it a more efficient solution for businesses looking for a comprehensive time management platform.
Choosing The Right Platform For Your Accounting Need
While this comparison may appear to favor QuickBooks, both platforms bring valuable capabilities to the table, each catering to different types of businesses.
AccountEdge delivers a powerful desktop solution with in-depth inventory management, customizable invoicing, and integrated time billing. This makes it a great fit for businesses that prioritize on-premises control offline access, and granular financial tracking. Meanwhile, QuickBooks emphasizes cloud accessibility, automation, and mobile-friendly features, making it an ideal choice for businesses focused on flexibility, real-time collaboration, and operational efficiency.
In the end, the right choice between QuickBooks and AccountEdge comes down to your business structure and workflow preferences. It’s worth comparing QuickBooks with other tools like Paycom and Gusto to determine which solution best aligns with your needs.
