Managing, understanding, and controlling finances is essential for any firm worldwide, regardless of industry. Correct taxation and precise corporate performance analysis are ensured by effective accounting.
One of the most popular and used cloud-based accounting programs is Quickbooks. However, since Intuit recently announced that QuickBooks would be discontinued in India, Zoho Books has experienced a surge in popularity. Small and medium-sized enterprises alike have begun switching to Zoho Books for recording their financial transactions.
An in-depth discussion of the procedures for a seamless switch from QuickBooks to Zoho Books will be provided in today’s blog. But let’s first comprehend what QuickBooks and Zoho books are and their main distinctions before we discuss the more complicated subjects.
The Application of QuickBooks
QuickBooks is a popular accounting program for small and medium-sized businesses that were created specifically for managing income and expenses and monitoring a company’s financial health. To accommodate different sorts of firms in the sector, QuickBooks released a number of editions.
QuickBooks Online
created especially for small- to medium-sized organizations that need flexible access to financial data. The first month’s subscription fee is $25.
Desktop QuickBooks
Develop for small and medium-sized firms in any industry that mostly use desktop computers for operations.
Self-employed QuickBooks
Tailored to address the needs of independent company owners like Uber or Lyft drivers as well as independent contractors, freelancers, and real estate agents.
Apple’s QuickBooks
Configured for use with Mac solutions by enterprises.
What Can QuickBooks Be Used For?
By enabling the following features, Quickbooks enables firms to carry out various account and financial management tasks:
Creation And Tracking Of Invoices
Tracking Of Bills And Expenses
Overview Of Financial Statements And Printing
Financial Statements
Financial Statement Analysis
Flow Of Funds Statement
Tracking Of Employee Time And Expenses
Payroll Administration
Tracking And Managing Inventory
Streamlining Tax Filing Procedures
Processing Payments Online
Document Scanning
What is Zoho Books and Application?
For organizing your transactions and managing financial operations, use Zoho Books, a comprehensive accounting application. It offers a consolidated way to keep track of your company’s bills, invoices, and bank statements, making it easier to control expenditures, get clear project overviews, and stay away from GST issues.
Many organizations are looking for alternatives to manage their accounting and financial procedures now that QuickBooks will no longer be available in India from Intuit. One such viable solution is Zoho Books.
In order to grasp the constantly changing market trends, taxes updates, cloud implementations, etc., Zoho Books is made to be future-proof.
What Characteristics Do Zoho Books Have?
Zoho Books offers the following features:
Journal Entries In General Ledger.
Invoice Personalization.
In Accounts Receivable, Automate Ar.
Processing Of Payments.
Making Of Purchase Orders.
Reports In Financial Statements.
Using Interactive Dashboards To Perform Simple Financial Analytics.
Administration Of User Roles And Access.
Importing And Exporting Data Tools.
QuickBooks vs. Zoho Books
Since you will be switching from Zoho books to QuickBooks, it is crucial to comprehend the key distinctions between the two programs for a seamless process and the avoidance of bottlenecks.
Pricing
For any business need, Zoho Books and QuickBooks Online offer several prices or subscription options. For businesses that generate less than $50000 in yearly revenue, Zoho Book offers a free option; meanwhile, QuickBooks’ entry-level membership plan costs $25 per month. For both Zoho Books and QuickBooks, there are different subscription plans with different user counts and features.
Pricing for Zoho Books
The free plan costs nothing, supports a single user, and allows the creation of up to 1000 invoices annually.
Standard package: $20 each month for each organization. enables 3 users and a monthly invoice generation cap of 5000.
Professional plan: $70 per month for each organization. enables the creation of infinite invoices and 10 users.
Additionally, Zoho Books permits add-on purchases, such as $3 for a single extra user per month.
advanced auto scans for $100 with a monthly scan cap of 50.
$2 for snail mail per credit.
With such reasonable pricing options, Zoho Books has surpassed Intuit as the most popular alternative to Shut Down QuickBooks in India.
Pricing for QuickBooks Online
As was previously indicated, Quickbooks doesn’t provide a free plan.
Simple plan: this is the cheapest, single-user plan available, starting at $25 per month.
$50 monthly for the basic plan, which supports 3 users.
The plus plan costs $80 a month and supports 5 people.
Advanced plan, which costs $180 monthly and comes with 25 users.
Application
Despite the fact that both Zoho books and QuickBooks are accounting programs, they each have a few distinctive features that make them appropriate for different kinds of organizations.
Zoho Books
The advantages of Zoho Books include the following:
Accountancy on the go.
companies with yearly revenue of less than $50000 and less than 1000 invoice requests per year.
companies who use the integrations, products, and development of Zoho.
Companies need a particular customer gateway.
QuickBooks
Inventory, bill administration, and reporting are just a few of the outstanding financial management tools that make up the all-inclusive accounting program QuickBooks Online.
For whom is QuickBooks Online appropriate?
Collaborating with a local tax preparer or bookkeeper.
Payroll processing on your own.
Integrating third-party tools and extensions.
Switching to Zoho Books from QuickBooks
Software company Intuit has chosen to discontinue its QuickBooks services in India as of January 31, 2023, after providing services to a variety of businesses for almost ten years.
The software provider has also totally ceased taking new subscriptions for QuickBooks Online, QuickBooks Mobile, QuickBooks Online Accountant, and QuickBooks Time in the nation.
Since Intuit decided to discontinue QuickBooks in India, Zoho Books has quickly taken over the market. Do you want to know how to transition to Zoho Books quickly and easily?
Yellow Monkey has got your back.
What elements can you incorporate for the migration of QuickBooks to Zoho?
During the migration, you can incorporate the following elements of your accounting management:
Taxes import
Import of journal entries
Import of Invoices
Payment and credit note import
Expense import
Company bills import
Vendor credit import
Important any other type of transactions
Prerequisites For Data Migration
Conclusion
Without professional assistance, switching to a new accounting and financial management style can become an onerous task. For a successful and seamless move, it is essential to comprehend the competition and invest a lot of time.
For businesses aiming to grow and expand, switching from QuickBooks to Zoho books can prove to be a fantastic option. With years of experience, Yellow Monkey can ensure a seamless data transfer from QuickBooks online to Zoho books. Get in touch with us right now for a quick data migration to Zoho Books.
