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Xero Vs QB online Vs VT Transaction+

So far I still think neither can beat VTT+

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Hello all, so far we have been using VTT+ withVT Final Accounts, TaxCalc and Moneysoft Payroll and we have been happy. I am particularly impressed by VTT+ and VT in terms of ease of use, speed and flexibility. Clients use VTT+ happily and we email it back and forth.

Some clients are now asking to move to the cloud for their own operational reasons and we would have to accept that or lose them. One client in particular is a gourmet burger restaurant and they now have two franchisees and growing. They would like a cloud system with basic stock management features and invoicing.

We are considering Xero and QBO. I am currently trialling both and have been reading online reviews too. So far I still think neither can beat VTT+ in terms of speed and flexibility. Yes VTT+ does not have bank feeds and cloud access, but we can still import the csv statements quite fast.

I would be very grateful to hear from my fellow practicioners on their first hand experience of either software and for those who have used VTT+, how they compare with VTT+. Also does anybody use Xero and QBO for payroll?

Thanks in advance

 

Replies (9)

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By JDBENJAMIN
02nd Oct 2019 13:39

VTT+ is superb, whereas Xero is next to useless, as it has no proper sales or purchase ledgers. Xero is also far more complex than it needs to be, with a plethora of mostly useless reports, a lack of useful drilldown, and frequent failure to display a double entry (presumably because they think double entry is scary to lay users). Xero also has no backup, so you cannot restore an earlier correct position if the client has caused some book-keeping disaster.

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By SouthCoastAcc
02nd Oct 2019 14:29

While Xero is a lot better than QB in my opinion, it still frustrates me a lot of the time, but then it wasnt made for accountants.

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By Alex_T
02nd Oct 2019 14:56

Agree with @SouthCoastAcc, I find Xero better than QBO. Unfortunately, good cloud payroll is hard to find. I use BrightPay which is excellent and I'm hoping they will eventually offer a cloud solution.

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By paulwakefield1
02nd Oct 2019 15:11

I prefer Xero to QBO as do those of my clients who have used both. Apart from anything else, QBO's weird attitude towards signing transactions means that the moment that you do not have a bog standard transaction, the individual PL or SL accounts do not visibly add up.

For low volume ease of entry, VTT+ still at the top of the tree for me (so long as no fx involved) followed by Sage, Xero, QBO.

For high volume ease of entry Xero, VTT+ or Sage - the choice depending on the nature of the inputs - then QBO (because I don't like it :-) )

For useful output, I would order it: VTT+, Sage, Xero, QBO

For overall speed of use: VTT+, Xero, QBO, Sage

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By Moonbeam
02nd Oct 2019 15:25

Of course the real question is what will the client like. I've moved many clients from Sage or VT to Xero. They've all been very happy with Xero. The main benefit is being able to access it from anywhere, and the fact that Xero was written for the end user, rather than the accountant. The lack of a good sales/purchase ledger on Xero is not as much of a problem as it was, as they have some reports that can overcome this problem, always of course assuming the quality of the input is reasonable.
I personally hate QBO and find it rather unstable.
If the payroll is for more than one or two "easy" employees, don't even consider Xero or QB options (which are pretty awful). Go straight to Brightpay - which is pretty good.

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By Cloudcounter
02nd Oct 2019 15:43

I don't recognise the first responder's view of Xero. There are proper sales and purchase ledgers, in my view, although the reporting is perhaps not as good as it might be, particularly for the purchases. It has a fraction of the number of reports of, for example, Sage. No I don't use all of them, of course, but presumably somebody finds them useful. There is also the facility to design your own reports.

The only time that I've found a double entry to be obscure is in the posting of payroll journals. Everything else, to me, is clear as daylight. I did try Xero payroll when it was introduced and didn't particularly like it. However, I have at least a dozen clients using it and none of those has reported any issues.

Xero itself doesn't have a backup, but if it's that important there are third party offerings to do that. I've been using Xero for nigh on ten years now and never found a client that has messed things up to the extent that I've rued the lack of a backup. The Find and Recode function has been around for a few years now and easily coped with client errors.

To call it next to useless is a gross exaggeration. It can be guaranteed that not everybody will like a particular piece of software, but if that happens to me I just accept that some people like it and I don't.

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By nelfi
02nd Oct 2019 16:02

Look at Freeagent as well. A lot of my clients that wanted cloud software or that used a mac (no good for VT) transitioned well to this with limited input from me. Can't really say the same about xero/ QB.

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By Ken Howard
02nd Oct 2019 19:07

I really discourage clients from using the inbuilt payroll in Xero, QB, Freeagent and Kashflow. Very hard/slow to use. I still use moneysoft for all our inhouse/bureau payroll clients and also encourage clients to use it - the benefits of cloud don't outweigh the ease/speed of Moneysoft.

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By johnt27
03rd Oct 2019 13:25

Since your client is in the restaurant business the stock features in both Xero and QBO won't support their needs - take a look at LightYear which is an excellent invoice processing app designed for the sector.

I prefer Xero to QBO - I just find it more useable but in reality the feature sets between both are more or less identical. Have never tried VTT. Don't bother considering FreeAgent, even though RBS/Natwest have grand ambitions for it, it's still most suited to small contractor type businesses.

For payroll, given your client is likely to have shift workers etc you may want to take a look at some of the many apps in this space. By using these you bypass the flaws in Xero/QBO, which is why many use Brightpay or MoneySoft instead.

Your client will also, presumably, have some sort of POS in place and this may already connect to either or both Xero/QBO. If not, it's well worth considering to take away unnecessary bookkeeping and enable them to scale the franchise up quickly.

From a reporting point of view again I prefer Xero over QBO but for franchised businesses I'd consider something akin to Spotlight which can provide some excellent reports for this type of set up.

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