NetSuite vs QuickBooks: The Ultimate Comparison Guide [2023]

If you’re looking for a comprehensive comparison of NetSuite vs QuickBooks, you’ve come to the right place. In this post, we’ll break down the key differences between these two payroll software options and help you decide which one is best for your business.

A Brief Overview

For small firms, QuickBooks has basically become the industry standard accounting software for many years now. QuickBooks is an excellent choice for businesses looking for accounting software.

QuickBooks Enterprise and NetSuite offer a variety of features that help businesses improve their accounting and finance processes.

QuickBooks and NetSuite offer software for managing a company’s financial operations. However, QuickBooks concentrates primarily on financial management.

NetSuite consists of a full suite of enterprise applications reaching far beyond accounting requirements. In this case, NetSuite has everything sitting in one cloud platform designed for extensibility and customization specific to your business.

Who is NetSuite for?

NetSuite’s software will help companies and organizations who need an easy-to-use web-based business management software solution (financial management).

Who is Quickbooks for?

Quickbooks can easily help startups and small businesses easily track their books online. You might consider purchasing Quickbooks if you manage a small to medium-sized business.

NetSuite vs QuickBooks: Features and integrations

QuickBooks and NetSuite provide similar accounting functions, including bookkeeping & inventory management, accounting payables and receivables, invoices and tax management, ledger, and cash management.

QuickBooks Enterprise enables businesses of all sizes to expand their business by offering features of QuickBooks Online, Pro, and Premier.

The system also includes advanced customizations, inventory monitoring, time and expense tracking, reporting, remote collaboration, and payroll management.

Unlike NetSuite, QuickBooks does not offer an integrated CRM platform but has tons of apps for third parties.

Differences between NetSuite and Quickbooks

What is different about NetSuite compared to Quickbooks? Most notably, NetSuite is much more comprehensive in terms of the range of enterprise functions it supports out of the box.

NetSuite includes modules for eCommerce, customer relationship management (CRM), inventory management, project management, and order management – to name a few.

On the other hand, QuickBooks‘ primary focus has always been on finances, with some additional support for time tracking and invoicing.

As a result, if you’re looking for an end-to-end solution that will cover all aspects of your business operations, then NetSuite is definitely the way to go.

Additionally, NetSuite is built on top of a single database architecture, which means that data can flow seamlessly between different departments and business functions.

More integrations into service providers and software products make Quickbooks an easy choice for our preferred accounting tools.

In a nutshell, many CPA practitioners use QuickBooks. It can be customized easily and holds a huge market share.

NetSuite is a more comprehensive software offering enterprise resource planning (ERP) capabilities.

While it lacks some of the features offered by QuickBooks, it more than makes up for it in terms of the sheer breadth and depth of functionality on offer.

Critical factors that drive NetSuite vs QuickBooks Decisions

This article will give you the information you need to know in order to choose between NetSuite vs QuickBooks.

NetSuite vs QuickBooks: Pricing comparison

NetSuite provides subscriptions based on the user license numbers, user accounts, and other features, as well as user numbers. NetSuite is available starting at $999 for the monthly licensing fee and $99 per user per month.

Pricing may be determined depending on your need for a particular solution. The first installation will only be charged once.

QuickBooks offers a 30-day free trial. You can cancel at any time during the trial period. After the trial, the monthly packages start at $25 per month.

You can also purchase QuickBooks Enterprise, which starts at $1,044 per year.

NetSuite vs QuickBooks: Use cases

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

QuickBooks focuses on the business of finance but is also used by small companies. NetSuite, on the contrary, provides an entire suite of enterprise-level tools.

NetSuite is the ideal application for businesses looking to manage their finances online in an effective way. Make sure your NetSuite software includes the NetSuite ERP application.

NetSuite vs QuickBooks: Customer Support

Customers of both NetSuite and QuickBooks can get live assistance from their providers through phone or chat. They also have a lot of helpful resources, including community forums, video training, and webinars. While NetSuite’s customer care is available 24 hours a day, QuickBooks‘ phone support is limited to regular business hours.

On its cloud-based, web-enabled point solution, NetSuite provides excellent customer service. It has a customer support webpage that includes a chatbot, phone, email contact information, and live help throughout the day on its website. The automated chat feature can answer simple, frequently asked questions (FAQs) or connect you with a customer care representative.

There are several methods to get assistance for QuickBooks Online, both through the software and on its website. The program’s searchable knowledge base, which includes help pages, video instructions, webinars, and paid courses, has the most in-depth information.

To contact the support team, go to the bottom of the help window and click on the “Contact us” button.

The main drawbacks of QuickBooks Online’s support services are that agents aren’t available 24 hours a day, and you can’t just call the service directly since you’ll have to submit a request for them to contact you.

The most significant difference between the two is that NetSuite provides round-the-clock phone support, whereas QuickBooks Online does not allow for direct phone contact.

 

Introduction to NetSuite

NetSuite provides a comprehensive ERP solution for businesses. Evan Goldberg introduced it to us in 1998 as NetLedger.

NetSuite provides businesses with an integrated platform to improve operations. It also supports the automated operation of business operations within a cloud platform.

NetSuite is an analytic tool that can be customized for each company and allows you to gain insight in real time on the business processes for your business.

Its users have the capability to view client interactions in an unprecedented 360-degree view as well as the complete company operation. So this service is suitable for almost any industry.

Key features of NetSuite

NetSuite was developed as an ERP software platform that helps organizations increase efficiency and revenue. When we talk about ERP software, we are referring to a system that helps businesses manage their finances, inventory, HR, and other back-office operations.

NetSuite is unique because it offers all these features in one integrated platform. This means that businesses can save time and money by using NetSuite instead of multiple software applications.

When should I use NetSuite?

NetSuite combines accounting and enterprise resource planning software tools, CRM software tools, and eCommerce features into one integrated package.

With NetSuite, customers can access their information via an online record, eliminating data inconsistency. It’s perfect for small and large businesses to simplify more complicated business operations such as inventory management.

What is NetSuite?

NetSuite was developed by Oracle as the number 1 cloud-based business management solution. NetSuite features cater to companies starting in the early stages of complex Manufacturing integrations, but its robust nature makes it ideal for enterprises with multiple projects.

NetSuite prides itself on being an excellent management software solution that incorporates some project management into its accounting software. It provides all the necessary tools for running your daily operations.

NetSuite has scalability, which means it can grow with your business.

Introduction to QuickBooks

QuickBooks software helps organizations do business in the areas of bookkeeping, accounts, payroll, and stock inventory.

Thousands of small business owners around the globe are using this software. It is an excellent software for accounting. The company created QuickBooks for businesses with a focus on automating the process of managing and maintaining books and paperwork.

QuickBooks custom reports are created according to the specific needs of the business. The tool assists in preparing an accurate profit and loss statement that demonstrates a business’ profitability over any period.

Key features of QuickBooks

QuickBooks is recommended for small businesses and startups because it is an affordable and easy-to-use accounting software with many advantages for small to medium-sized businesses.

QuickBooks’ entry is simple and easy since it can be done through an online interface, mobile app, or by connecting your bank account.

You can also track inventory, manage bills and invoices, create financial reports, and more.

Data Integration

HevoData, a NoCode Data pipeline, allows for loading data from all data sources, such as database applications and cloud storage SDK. There are over 100 data source options and 40+ Free sources.

It involves three steps: selecting a data source, providing a valid password, and selecting the destination.

How do I use QuickBooks?

QuickBooks Online is a cloud accounting software that can be used by almost any small company and includes online retailers, service providers, and realtors.

They are consistently chosen as the best Small Business Accounting Solution due to their flexibility and easy-to-use features, such as an iPhone and Android app and add-ons like payroll and time tracking.

QuickBooks Online provides specialized reporting and inventory capabilities, including a range of customized invoice options and 650 integrated applications. Your 1099 contractor will have the ability to track 1099 payments and process 1099 transactions.

NetSuite vs QuickBooks: Ease of use & mobile access

Many accounting software packages feature similar features, and it is equally essential to offer a clear and user-friendly interface for the employees and accounting staff on board.

QuickBooks offers easy navigation and easily accessible items within the dashboards. You can view the report directly from within the dashboard. These sections have also been divided into sub-sections.

Managing payroll, income, and expenses is easy through this site.

NetSuite vs QuickBooks: Reporting & Global Business

It gives businesses valuable insights that are important to their success. Suite Analytics enables organizations to view real-time financial data for a variety of business functions and operations.

These analytics and report functions are built and easily customizable to match your KPIs and make decisions.

In conjunction with NetSuite, QuickBooks offers additional customized reporting functions, such as a detailed report on accounts payable and recurring income.

 

NetSuite vs QuickBooks: Integrations

NetSuite integrates smoothly into every of its enterprise software and integrates with a wide range of enterprise software providers to support its customers.

Using its open API for managing operations, you may also integrate NetSuite with other vendors. Nonetheless, QuickBooks Online includes many other integrations and also two direct connections through the software.

QuickBooks integrations

QuickBooks Online has 650 integrations available.

NetSuite Integrations

NetSuite integrates ERP, CRM, and eCommerce systems to eliminate the need to integrate them.

They also offer additional solutions by joining with a variety of integration partners to create SuiteCloud. SuiteCloud offers a range of integrated software solutions for integrated enterprise application systems.

NetSuite offers training programs for customers requiring assistance with integration projects.

NetSuite vs QuickBooks: Easy use

NetSuite and QuickBooks Online dashboards are personalized according to user rights.

Although both offer several good reports, the volume and complexity offered on NetSuite are often confusing. A more difficult learning curve makes QuickBooks more appealing, especially for novice users.

QuickBooks Ease of Use

The QuickBooks web Dashboard looks similar to NetSuite’s dashboard because the dashboard provides an extensive amount of information to start from.

Instead of tab-based buttons in QuickBooks, you select from the main menu bar in which you can navigate. You will note that their layouts differ, and QuickBooks Online’s dashboards are less cluttered.

Several functionalities can be activated from the settings section. This dashboard lets the user view your account balance reports and income/excess reports.

NetSuite Ease of Use

New users are probably intimidated by NetSuite’s dashboard due to the large volume of data.

However, while you will receive certain details based on the users’ rights, the format remains the same.

Menu tabs at the top enable navigation to various sections of the program, including expenditures, reports, and payments.

Netsuite – General Ledger

NetSuite has a general ledger that is customized based on your needs.

NetSuite provides excellent example flexibility by categorizing and labeling financial information using descriptions and type columns.

This ledger helps you find the most important accounts in your company and helps save time. Several general ledger data segmentation features can help improve time-saving capabilities and financial reporting efficiency.

Quickbooks – General Ledger

The general ledger contains all the relevant information about the transactions. QuickBooks‘ general ledger provides similar functionality, which may help record invoice payments.

Several other things should be noted – a “relevant information transaction” is used here. These words were created to explain why not all transactions belong in a general ledger.

Transactions not in a general ledger can be called “nonposting”.

Netsuite – Accounts Payable

NetSuite is designed to automate invoice payments for businesses. You no longer manually type your data or deal with discounts, offers, or anything else.

When you encounter problems comparing the invoice with the receipt, you may need automatic response systems highlighting and fixing it. NetSuite accounts are payable.

Accounts payable allows you to see if there has been a dispute with your payment document to make your money more secure. NetSuite Report provides enhanced report visibility.

Quickbooks – Accounts Payable

Quickbooks online helps with managing account payments.

Online Plus gives you the ability to set deadlines for payment. Upon paying in Quickbooks, a bill will automatically get posted.

QuickBooks Online Plus also offers an accounts receivable feature. With this feature, you can create invoices, track payments and view aging reports.

You can also set up automatic payment reminders and apply late fees. QuickBooks‘ accounts receivable is a great tool for businesses that want to improve their collections process.

NetSuite – Accounts Receivable

NetSuite is designed to automate and simplify your Accountable Receivables experience. It helps automate financial transactions, reselling, and subsequent use.

The subscription management system allows recurring billing generation (invoicing). Orders will automatically pass through relevant ledger systems.

NetSuite offers a suite of accounting tools that provides real-time data. You can see orders (order management) and payment data as the order comes in, so you can always keep track of everything happening in the accounts receivable.

Quickbooks – Accounts Receivable

Quickbooks can help you manage your payments and invoice transactions and help locate a missing account.

You can send a reminder to customers whose payment did not come through. Quickbooks accounts receivable is built around the underlying idea of helping your company get paid quicker.

Quickbooks also offers age reports. This report helps you identify which service you received.

NetSuite vs QuickBooks: Mobile App

NetSuite and QuickBooks are mobile app providers offering both Android and iOS. They have very robust capabilities. Although NetSuite has its interface much more complex.

NetSuite Mobile App

The NetSuite Mobile App offers an intuitive expense management interface with modules for the mobile platform.

Available for iPhones as well as Android devices, these applications are designed with a streamlined mobile interface for key workflows and support push notification notifications for time-sensitive activities that allow for easy workflow.

It also allows users to easily view saved records and customize reporting with field grouping and customization formulas.

Top 2 alternatives to QuickBooks and NetSuite

There are many alternatives to these two programs. Here are the top contenders:

Acumatica

Acumatica is an enterprise resource planning tool based on business management tools.

The app is suitable for mobile and telework setups and is easily paired with any desired collaborative tool. Acumatica offers growing companies flexibility, efficiency, and continuity of operation.

Acumatica has fully integrated capabilities and includes self-service functionality to help companies get deep insights. In contrast to other ERP solutions, Acumatica has no user-defined pricing options.

Sage Inc

Intacct can help you find something that combines QuickBooks Enterprise with NetSuite ERP. Intacct is a financial accounting system that enables businesses to manage financial operations.

The Sage Intacct product range includes basic financial information and reports, billing, budgeting and planning, platform, and advanced capabilities. Sage Intacct is available in many different formats, and the features vary depending on your company and include reports, modules, and users.

How is NetSuite different from QuickBooks?

NetSuite ERP is a comprehensive enterprise-level ERP system suited to the needs of large businesses. QuickBooks Online provides an easy-to-use interface, a wide selection of options, an extensive product portfolio, and a comprehensive product offering.

Are NetSuite and QuickBooks the same?

QuickBooks is an accounting software designed to manage small business accounting operations. NetSuite provides an entire suite of enterprise-level application services aimed at addressing more complicated accounting and finance issues.

Is NetSuite good for accounting?

Oracle NetSuite has become a popular solution as an accounting tool within its ERP platform as it provides comprehensive support for business financial management needs.

What makes NetSuite different?

NetSuite is an integrated platform for business operations that lets businesses manage their operations using the Internet.

It integrates financials, supply chain production, personnel, and eCommerce on the same system with the same database instead of combining multiple software systems.

Does QuickBooks integrate with NetSuite?

It’s very easy to integrate NetSuite into a QuickBooks system. In addition to QuickBooks integrations, NetSuite QuickBooks may include many documents like invoices, sales order estimates, etc.

Is NetSuite a good accounting software?

Oracle NetSuite has been chosen for its robust service offerings that drive the business’ total financial planning requirements.

Is NetSuite a replacement for QuickBooks?

Although NetSuite has similar functions to QuickBooks in its overall functionality, NetSuite offers enterprise-level functionality. In this context, NetSuite vs. QuickBooks have a huge difference in prices.

Does NetSuite work with QuickBooks?

The solution can be seamlessly integrated into the QuickBooks software. QuickBooks integration with NetSuite may involve many different records, such as invoices, customer orders, estimates, contact, etc.

Who are the biggest NetSuite competitors?

Top 10 alternatives for NetSuite:

Sage acct. Acumatica. Finance. ERP. Kinetic. SAPBusinessOne. SAP Cloud. S4HANA. Quick Book Online.

Is NetSuite enterprise software?

NetSuite is the #1 cloud ERP software for a wide array of businesses across the world.

Is Oracle better than QuickBooks?

The reviews of these solutions found Oracle Database to be a better solution for businesses. Reviewers also favored the simplicity of setup with Quickbooks Online and the administration. Reviewers found the Oracle Database more useful for their businesses as compared to QuickBooks Online.

Conclusion

So, what’s the difference between NetSuite and QuickBooks in 2022? In short, NetSuite is a more comprehensive ERP software system, while QuickBooks is an accounting software designed to manage small business accounting operations.

However, both solutions can be easily integrated into each other. It really depends on the needs of your business as to which solution would be the best fit. NetSuite would be the better choice if you need enterprise-level support for financial management.

However, if you have a smaller business and just need basic accounting capabilities, then QuickBooks would probably suffice. Whichever route you choose, both solutions are easy to use and offer a wide range of features and functionality.