Home > Blog: Diary of a Cloud Expert > NetSuite vs QuickBooks: The Ultimate Comparison Guide - Updated for 2022

NetSuite vs QuickBooks: The Ultimate Comparison Guide - Updated for 2022

Hands down, QuickBooks has been the de facto business accounting software for startups for several years.

With an intuitive user interface that is easy to navigate, banking & HR integrations, and a highly attractive price point, QuickBooks can be a no-brainer for companies that need small business accounting software.

If you need a bit more than just accounting software for your business, QuickBooks Enterprise, and NetSuite both offer features to support inventory and order management for improved accuracy and productivity. Simplified warehouse management, mobile inventory barcode scanning, inventory cost tracking, and field service management are also included. 

For companies that have outgrown QuickBooks Online or QuickBooks Desktop, NetSuite offers a compelling alternative to businesses that are considering making the switch to QuickBooks Enterprise.

NetSuite in addition to financial management also includes a natively integrated ERP, CRM, Ecommerce, SRP, HCM and more, while QuickBooks Enterprise does not. 

QuickBooks Enterprise users must resort to multiple third-party solutions that come along with the predictable difficulties: inconsistent reports, broken integrations, manual re-work, redundant processes and continually multiplying Excel sheets.

Do you want all the complications that come with dealing with multiple vendors when billing, vendor management and software licensing could be simpler with a single solution like NetSuite ERP?

Keep reading to learn more about how NetSuite compares to QuickBooks.

New call-to-action

Feel free to bookmark this page as a resource during your ERP evaluation.

 

Table of Contents


A Brief Overview:

Both QuickBooks and NetSuite offer cloud-based financial management software designed to help companies run their businesses.

But...

QuickBooks focuses primarily on financial management and functions solely as a small business accounting solution.

Whereas, NetSuite offers an entire suite of enterprise grade applications that reaches well beyond the needs of accounting & finance. 

For example, NetSuite offers

  • Marketing Automation & Customer Relationship Management (CRM) software
  • Order Management software
  • E-Commerce software
  • Point of Sale software
  • Inventory and Warehouse Management software
  • and much more

all sitting on top of a cloud-based platform designed for extensibility and personalization unique to your business.    

Additionally, not only is NetSuite known for its broad set of functionality its also acknowledged as a best in class cloud-based ERP offering according to industry experts like Gartner.
 

 

Company Profiles:

Overview:
QuickBooks

Founded in 1998, Intuit's QuickBooks provides a set of software solutions designed to manage payroll, inventory, sales and other needs of a small business. With 1.8 million customers QuickBooks is the largest provider of accounting software for small business. 

NetSuite Logo 2

NetSuite is the leading cloud-based ERP solution, which allows companies to automate front and back-office processes like financial management, revenue management, fixed assets, order management, billing, and inventory management and more.


Years In Business:

39

24


Customers:

~1.8 million

~20,000


Target Industries:
  • Accounting Firms
  • Financial Services
  • Franchise
  • Church / Religious
  • Insurance
  • Lawn Care & Landscaping
  • Legal Services
  • Nonprofit
  • Property Management
  • Restaurant, Caterer and Bar
  • Retail
  • Transportation
  • Wholesale Distribution
  • Services
  • Software and SaaS
  • Retail
  • E-commerce
  • Financials Services
  • Advertising
  • Media & Publishing
  • Healthcare
  • Life Sciences
  • Energy
  • Education
  • Transportation & Logistics
  • Nonprofits
  • Social Venture
  • Services
  • Software and SaaS
  • Manufacturing
  • Wholesale Distribution


Feature Comparison:

Financial Management Functionality:
QuickBooks

 


  • Accounts Payable
  • Accounts Receivable
  • General Ledger
  • Multi-Currency
  • Budgeting
NetSuite Logo 2
  • Accounts Payable
  • Accounts Receivable
  • General Ledger
  • Multi-currency/multi-tax,multi-language
  • Fixed Assets
  • Multi-Company & Consolidation
  • Revenue Recognition
  • Subscription Billing
  • Forecasting & Budgeting
  • Financial Planning & Analysis

Supply Chain Management Functionality:
QuickBooks
  • Order Management
  • Procurement
  • Inventory Management
NetSuite Logo 2
  • Order Management
  • Production Management
  • Inventory Management
  • Procurement
  • Warehouse & Fulfillment
  • Demand Planning
  • WIP & Routing
  • Work Orders & Assemblies
  • Shop Floor Control & BOM Maintenance

Human Capital Management Functionality:
QuickBooks
  • Payroll
NetSuite Logo 2
  • Human Resources Management
  • Payroll
  • Employee Center

E-commerce & Retail Functionality:
QuickBooks
  • Point of Sale
  • E-commerce
NetSuite Logo 2
  • Point of Sale
  • E-commerce
  • Order & Inventory Mgt
  • Product Content Mgt
  • E-commerce Marketing Automation

Professional Service Automation (PSA) Functionality:
QuickBooks
  • No capabilities
NetSuite Logo 2
  • Project Management
  • Resource Management
  • Time sheet Management
  • Expense Management

 
Software Demonstrations:
QuickBooks
NetSuite Logo 2

 

 

NetSuite vs QuickBooks Pricing Comparison:

Pricing Info:
QuickBooks
  • Between $20 and $60 per month (pending plan type)
NetSuite Logo 2
  • User licenses are $99 per month.
License Cost Estimator


Contract Term:


Month to Month

NetSuite requires a year-long contract; renewed annually.


Upfront Cost:

Limited setup fees. May incur additional fees for integrations, training and support.

Additional fees apply for professional services such as implementation, integration, customizations, data migration and support.


Recurring Cost:

Annual recurring fees for the software subscription and ongoing consulting or book keeping services.  

Annual recurring fees for the software subscription and support.  May require ongoing consulting/optimization depending upon the clients needs.


How to License:


Direct or through an Authorized Partner

Direct or through and NetSuite Solution Provider Partner


 

 

Analyst & Customer Reviews:

Software Advice:
QuickBooks
  • 4 Stars 1,736 Reviews
  • Recommend by 81% of users
NetSuite Logo 2
  • 4 Stars 91 Reviews
  • Recommended by 78% of users



 

 

 

Customer Support:

Tech Support:
QuickBooks

6AM - 6PM (PST) Mon.-Fri.

NetSuite Logo 2

24/7 toll-free worldwide phone support available


End User Training:

Live and/or online training available by QuickBooks trainers and by partners.

Live and/or online training available by NetSuite training department and by partners.


Online Support:

QuickBooks has extensive knowledge base available to users.

NetSuite has an extensive knowledge base (SuiteAnswers) available to all users as well as online user group.


User Groups:

Dozens of trainers and local user groups across the United States.

Dozens of local user groups across the United States.


 

Primary Differentiators:

Expand Visibility:
QuickBooks

Disconnected systems make it nearly impossible to gain holistic business insights.

Keeping one set of data in QuickBooks and storing critical information elsewhere makes reporting difficult. 

NetSuite Logo 2

NetSuite ties business processes, departments and divisions together since every user within the application is using the same data repository, updated in real-time.

Everyone is on the same page, errors are minimized, and you gain broad insights across all business units and all facets of the business.


Reduce IT Infrastructure Complexity:


QuickBooks is a siloed product with a myriad
of apps that need to be updated and supported.

This produces a disparate and individual process-driven systems "hairball".


NetSuite offers an industry tailored financial management system that provides customers the ability to fully manage their business within the suite.

NetSuite can start, grow and scale with your business from inception to the future.


Boost Efficiency & Sales:

With QuickBooks, it's hard to be agile and responsive. You can’t, for example, allow customers to see stock levels & confirm delivery schedules while working with a customer in real-time or take calls from customers minutes after an order is placed.  

NetSuite provides E Commerce, CRM, ERP, Inventory Management, Billing, Revenue Management and HR in one centralized cloud platform, making your business freer and faster, increasing efficiency and sales at the pace you need.

 

 

What’s new in QuickBooks Desktop 2022?   

  • Stability and speed of performance have been improved because the product is now able to use the full capability of 64-bit processor power
  • Revenue tracked from different e-commerce platforms like Amazon, eBay, and Shopify now synchs directly into QuickBooks
  • The ability to schedule and pay bills using a bank transfer, credit card, or debit card was added
  • Customizable bill approval workflow was added
  • Bill payment stubs can be entered on a customizable form
  • Batch emails can now be sent 
  • Payment links can now be sent for items that don’t require an invoice
  • QuickBooks Desktop add-on services will be discontinued after May 31, 2022 for QuickBooks Desktop for Windows 2019.

What’s new in NetSuite 2022?  

  • In 2021, NetSuite introduced SuiteProjects, improving inventory management and BI  capabilities  The 2022.1 release continues to add functionality to streamline and automate Cash Flow Management, Project Management, and Warehouse Management processes.
  • Supply chain managers can now create customized views showing supply and demand orders.
  • Customizable invoice templates now allow the line-item format that clients or projects require, so details such as consultant times, subcontractor costs, etc. can be included.
  • While QuickBooks has historically been a low-cost price leader NetSuite has repackaged their software pricing for SMB's and run's promotions quite often enabling them to compete with QuickBooks on pricing.  

 

Parting Thoughts...

QuickBooks can be a viable solution for many small businesses just getting off the ground however it's not designed to be your forever accounting software solution. 

For business leaders expecting rapid growth we'd suggest considering an accounting / ERP solution that can meet both your immediate short-term software needs and scale as your requirements mature and evolve.

It's common to see companies settle for a QuickBooks solution and require a system migration in just a year or two to support growth and expansion.

You can avoid the disruption and expense by choosing a solution like NetSuite to be the last accounting / ERP solution you implement no matter how large or how fast you grow.

With NetSuite, we have better financial data right at our fingertips to measure KPIs across balances, sales rep performance and transaction monitoring, all posted right within the application.- Shiftgig

For business leaders expecting rapid growth we'd suggest considering an accounting / ERP solution that can meet both your immediate short term needs and scale as your requirements mature and evolve.

It's common to see companies settle for a QuickBooks solution and only to require another accounting system in just a year or two to support growth and expansion.

You can avoid the disruption and expense by choosing a solution like NetSuite to be the last accounting / ERP solution you implement no matter how large or how fast you grow.

 NetSuite vs QuickBooks 

8 Comments

Leave a Reply