NetSuite vs QuickBooks: Ultimate Guide

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For managing accounts for your enterprise or firm, QuickBooks is one of the best financial management tools that are accessible and affordable to use. That said, when it comes to managing your overall inventory and resources, these are difficult to reach. Working with software like NetSuite can make matters more efficient. The debate between NetSuite vs QuickBooks is still a tougher challenge.

NetSuite is an excellent tool for customer relationship management and enterprise resource management. That said, it does come at a higher price range and requires you to contact their sales team for a direct quote.

When it comes to the more affordable, easier, and more straightforward software to use, it is an industry-standard in the field of accounting, as it comes with both desktop and online versions that start at a low price. That said, the Net suite is the more advanced option for accounting and resource functions that are well-integrated.

While not as popular as QuickBooks, NetSuite comes with a more robust system and can handle complex transactions with which QuickBooks has limited scope. However, there is some confusion as to which one is the best accounting software.

This article covers everything you need to know about NetSuite vs QuickBooks and gives you a side-by-side comparison of their features, functionality, and pricing.

What is QuickBooks?

Quickbooks from Intuit comes with both Online and Desktop versions. QuickBooks Online is a cloud-based platform that is suitable for small businesses and straightforward to use. 

With features that enable flexibility, its easy-to-use and robust user interface are one of the most popular in the industry. Besides this, Quickbooks also comes with a mobile app and several convenient add-ons that make calculating working time and payroll straightforward and easy.

Unlike NetSuite, it comes at a number of price points, making it accessible for any new company, start-up, or small business with lower overhead capital. 

What is NetSuite?

NetSuite from Oracle is a software as a service (SaaS) that enables enterprise resource management, customer relationship management, and accounting. While it may not seem as popular as software as QuickBooks, NetSuite allows for more advanced features and functionality, making it better suited for companies with a wide variety of departments.

Netsuite allows multiple departments to access and enter data eliminating inconsistency and offering a centralized database. NetSuite is practical for larger organizations where information accuracy and accessibility are crucial for maintaining stipulous accounts.

How Much Does QuickBooks Cost?

When compared to NetSuite, QuickBooks is more affordable as it comes at various price ranges, making it practical and straightforward to use. It is best for mid and small-sized businesses, as QuickBooks Online starts at $15 for one user and goes up to $200 for 25 users per month.

On the other hand, QuickBooks Desktop is available annually from $349 (for small businesses) a year to $1,340 per year (for medium to large-sized businesses). Unlike QuickBooks Online, QuickBooks Desktop does not backup data on cloud storage, making it impractical to access data on the go.

How Much Does NetSuite Cost?

NetSuite comes at a higher price range, given its versatile features. With a $999 licensing fee, NetSuite also charges an additional $99 per user per month. 

Given its expensive price, NetSuite is better suited for large businesses that require efficient and real-time updates to their enterprise resource management database.

The number of users allowed on NetSuite is unlimited, making it an excellent choice for growing and international businesses that require several users have access to the ERP software. 

NetSuite vs QuickBooks – Features 

NetSuite Features

1. Finance Accounting

NetSuite comes with finance accounting that is best for larger enterprises and core finance and accounting functions. This means you can resolve discrepancies, generate compliance statements and solve issues quickly. 

Besides this, it also is capable of performing tasks like billing, global account management and reconciliation, tax management, cash management, and even fixed asset management. NetSuite is an excellent choice for streamlining financial processes in large businesses. 

2. Order and Production Management

NetSuite is capable of ensuring that you maintain the required levels of your product. Based on the typical order quantity and delivery time, NetSuite is capable of alerting users when it is necessary to re-order a particular product. 

NetSuite also allows users to monitor the full production process. From the point of placing the work order to sales of the item, parties responsible for the production process can have visibility provided they have the required access.  

3. Procurement and Supply Chain Management

With NetSuite, the procurement process is more efficient with real-time prices and data on merchant performance. It helps you and your company have a better understanding of procurement costs. There is also automation and workflow integration that helps deliver accurate payment details with a streamlined process.

4. Warehouse and Fulfillment

When it comes to software that helps companies with inbound and outbound logistics, NetSuite is a reliable tool to use. NetSuite also improves warehousing and inventory management, making the processes more efficient.

While high-priority delivery is expensive, NetSuite helps ensure you have on-time and cost-effective deliveries. Unlike other software, the ERP software enables warehouse management that keeps your inventory in order.

5. Human Capital Management

One convenient feature for NetSuite is that it’s capable of human capital management. Through NetSuite’s HCM solution, you can manage teams and human resource processes and make your onboarding process seamless. It also helps users collect information for new workers and integrate them with other work processes efficiently.

QuickBooks Features

1. Finance Accounting

This is convenient for anyone new to accounting or with minimal accounting experience. QuickBooks’s main function is finance accounting to help small businesses keep track of payments and track their profitability. Throughout the business year, there are several transactions that take place, and using software like QuickBooks can help users track expenses and help during the time of calculating the business’ tax liability.

2. Automated Payment Reminders

One helpful feature of QuickBooks is that it helps track accounts receivable and automatically sends payment reminders via email to your customers from whom payments are due. For this, you can set your own guidelines or lists for customers who require a reminder for their due payments. 

3. Customized Payment Receipts

While payment receipts on some software have a fixed format, QuickBooks allows users to customize their payment receipts with their company logo. With this, you can also include your company logo and change the formatting for the payment receipt as necessary. These customizations allow users to change fonts and layouts as necessary.

4. Create Customer Groups

With QuickBooks, you can create customer groups based on criteria like payment, location, and even order quality. Based on this, you can send out automated payment reminders. The software also allows you to create additional lists using the existing ones but with modifications or additions based on the rules you set. 

5. Advanced Bank Feeds and Receipt Management

QuickBooks allows users to access bank feeds and reduces the amounts automatically. With QuickBooks, you can do this in three different modes; classic, express, and advanced. While the basic and express modes are quicker to set up, setting up the advanced mode can save you time later on. 

NetSuite vs QuickBooks – Mobile Apps

Both NetSuite and QuickBooks come with their own mobile apps that are accessible by both Android and iOS interfaces. While both apps are quite powerful, NetSuite comes with more advanced features and a better user interface for customization. Netsuite also makes use of push notifications to alert users about time-sensitive tasks and work processes.

The QuickBooks mobile apps also come with a robust user interface. However, the features are limited in comparison. That said, it’s capable of recording expenses, invoicing customers, and sending reports. The Quickbooks app also comes with basic functions like recording transactions but also allows you to use your phone as a scanner to record receipts. 

NetSuite vs QuickBooks – Customer Support

NetSuite offers 24/7 customer support, while QuickBooks only offers customer support during working hours. That said, both software come with an extensive library of instructions, instructional videos, and webinar resources. For QuickBooks, however, you can sign up for QuickBooks Live, which helps users with additional bookkeeping support for an additional fee.

Frequently Asked Questions

NetSuite vs QuickBooks – What You Should Know

Both QuickBooks and NetSuite are impressive finance tools for businesses. That said, QuickBooks is not as impressive when it comes to enterprise resource management and is more impractical for medium and large-sized businesses. Besides this, Quickbooks does not come with the same level of integration of real-time processes and inventory management. 

QuickBooks is better suited for smaller businesses that do not need complex transactions or ERP. Besides this, QuickBooks is a much more affordable option making it convenient for businesses just starting up with limited resources. 

Both software are robust tools that are suited for different types of businesses. NetSuite is better for compliance and international business, and  QuickBooks is better for smaller businesses. Do you agree with us?

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Simon Calder

Chris “Simon” Calder was working as a Project Manager in IT for one of Los Angeles’ most prestigious cultural institutions, LACMA.He taught himself to use Microsoft Project from a giant textbook and hated every moment of it. Online learning was in its infancy then, but he spotted an opportunity and made an online MS Project course - the rest, as they say, is history!