experience with both products so Nitschke Nancarrow Accountants obviously you know I’d encourage you to play with both products and form your own opinion about which one you like better you may not care about the things that I care about my perspective on these things is as that of a CFO who consults with companies to get the information compiled in a way that I feel is accurate and then ultimately pull the information out and pull the information out in the form of reporting
and I need good reporting so I can review those reports with my clients and perform the right strategic analysis and come up with the right strategic plans for my clients so with that said we’re going to take a look first at the bank feeds in QuickBooks Online you click on the banking menu here on the left in Xero right from the dashboard you’re going to see your bank accounts and we can click for example here which says reconcile items to get into zeros Bank feed area you’re going to find as you look at these side-by-side that both of them essentially
work the same way very different layout very different interface but you’ll see that in both cases we have some transactions that are matched this is what we downloaded from the bank it looks like we have a match to or a potential match to something that’s already been recorded in QuickBooks in Xero same thing here we have something on the left that was downloaded from the bank and on the right what appears to be and all likelihood a match so so far no real difference between the two other than the layout and interface they both work the same they both do it very well now this is a deep dive so let’s dig a little deeper when we look at one of these matches I could go in here and say you know what no I don’t think this is a match let’s go
create it or let’s find another match right find and match you can click this link here and it will give you other potential matches and what this also gives you the opportunity to do as you can see here is let’s say that the transaction that was downloaded from the bank is actually the total of two separate transactions I have here in Xero it makes it very easy for me to check the multiple transactions in Xero that tie to it downloaded at the bank so this is a great feature QuickBooks Online essentially does the same thing I can click into the transaction it shows me and shows me why it thinks this might be a match but I can click I can click here where it says find other matching