QuickBooks Online vs TallyPrime

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Our analysts compared QuickBooks Online vs TallyPrime based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

Product Basics

QuickBooks Online is a cloud-based accounting software designed for small and medium-sized businesses. It simplifies bookkeeping tasks like tracking income and expenses, managing invoices and payments, and generating financial reports. Its user-friendly interface and mobile accessibility make it ideal for entrepreneurs and non-accountants. Key benefits include automated data entry, real-time financial insights, and seamless collaboration with other online tools. Popular features include inventory management, payroll integration, and tax preparation assistance. Compared to similar products, QuickBooks Online shines in ease of use and scalability, offering tiered plans with varying features and pricing. Costs typically range from monthly subscriptions based on the number of users to additional fees for payroll and advanced features.

Pros
  • Easy to use
  • Mobile access
  • Automated tasks
  • Scalable plans
  • Integrates well
Cons
  • Limited customization
  • Costly add-ons
  • Customer support
  • Reporting restrictions
  • Learning curve
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TallyPrime is a business management software catering primarily to small and medium-sized businesses (SMBs) across various industries. It offers a comprehensive suite of features encompassing accounting, inventory, taxation, payroll, and compliance management. Prized for its user-friendly interface and robust data security, TallyPrime simplifies financial tracking, reporting, and inventory control. Popular features include multi-lingual support, remote access capabilities, and customizable dashboards for real-time business insights. Compared to similar products, users praise TallyPrime's affordability, strong customer support, and ease of implementation. However, some find its interface less modern and its reporting functionalities less flexible than competitors. Pricing typically falls within the mid-range for SMB accounting software, with options for one-time purchases or annual subscriptions based on the number of users and required modules.

Pros
  • User-friendly interface
  • Robust data security
  • Affordable pricing
  • Strong customer support
  • Easy implementation
Cons
  • Less modern interface
  • Limited reporting flexibility
  • Not ideal for large enterprises
  • Fewer integrations compared to competitors
  • Occasional performance issues
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Mobile
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Mobile

Product Assistance

Documentation
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Live Online
Videos
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Email
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24/7 Live Support
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Product Insights

  • Streamline Processes: Input, revise and deliver numerous invoices, expenses, checks and bills in just a few clicks with the batch invoicing module. Users may also cut and paste invoices and data from Excel into QuickBooks. 
  • Establish Permissions: Govern who may or may not review sensitive data as well as adjust custom permissions for deposits, sales, transactions and expense reports among other things with the user permissions functionality.  
  • Diminish Errors: Alleviate hazards, modify reminders and triggers, save time and initiate prompt reminders to obtain greater cash flows with the workflows accessory. 
  • Effortlessly Restore Data: Promptly back up any changes made in QuickBooks Online in addition to reviewing version histories with all changes made in its handy time log. 
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  • Streamlined operations: TallyPrime centralizes accounting, inventory, payroll, and compliance tasks within a single platform, eliminating data silos and manual redundancies. This consolidation leads to smoother workflows, improved accuracy, and a reduction in administrative overhead.
  • Enhanced financial visibility: The software generates real-time reports, dashboards, and financial statements, providing up-to-the-minute insights into business performance. This transparency empowers informed decision-making, proactive budgeting, and better financial control.
  • Optimized inventory management: TallyPrime tracks stock levels, monitors product movement, generates purchase orders, and automates stock reordering. This optimization ensures inventory accuracy, minimizes stockouts, and reduces carrying costs.
  • Simplified compliance: The software automates tax calculations, generates compliant reports, and streamlines tax filing processes. This helps businesses stay up-to-date with evolving tax regulations and mitigate compliance risks.
  • Enhanced decision-making: The data-driven insights provided by TallyPrime empower businesses to make informed decisions regarding resource allocation, pricing strategies, inventory optimization, and financial planning.
  • Improved productivity: Automation of recurring tasks, intuitive navigation, and multi-user capabilities boost staff productivity and free up time for more strategic initiatives.
  • Enhanced collaboration: Role-based access and multi-user capabilities foster seamless collaboration across departments, ensuring data integrity and streamlining communication.
  • Enhanced security: TallyPrime safeguards sensitive financial data with robust security measures, including data encryption, access controls, and audit trails. This protects against unauthorized access, data breaches, and financial irregularities.
  • Improved customer satisfaction: Accurate invoicing, timely payment processing, and streamlined customer support contribute to enhanced customer experiences and stronger business relationships.
  • Scalability: The software can accommodate business growth with ease, supporting multiple users, locations, and expanding operations without requiring system overhauls.
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  • Income and Expense Tracking: Import bank, credit card, PayPal, Square and other transactions as well as promptly sort them into the right tax categories with the income and expense tracking module. Users may also take pictures of receipts with their smartphones and link them directly to expenses. 
  • Invoicing: Trace invoice statuses, deliver payment reminders to patrons, immediately match payments to invoices, accept credit cards and complete free bank transfers directly from an invoice with the invoicing attribute. 
  • Estimations: Transform estimates into invoices, validate mobile signatures, review estimate statuses and modify estimates to align with business requirements via the estimations appliance. 
  • Reporting: Create a variety of reports, including product profit and loss, expense, balance sheet, inventory, enhanced sales, profitability and other reports, through this attribute. Users may also oversee crucial financial metrics including cash flow and revenue on one dashboard. 
  • Organize Receipts: Expeditiously arrange and associate expense receipts with transactions, keeping them all in one place. 
  • Inventory Tracking: Receive alerts when inventory is running low as well as monitor products and the cost of goods with the inventory tracking system. Users may even evaluate popular items, draft purchase orders and superintend vendors.  
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  • Invoicing and Accounting: Create GST-compliant invoices, manage receivables and payables, track expenses, reconcile bank statements, generate financial reports, and manage multiple ledgers.
  • Inventory Management: Track stock levels, set reorder points, generate purchase orders, manage multiple warehouses, track batch and serial numbers, and handle multiple stock valuation methods.
  • Payroll: Calculate salaries, generate payslips, manage employee attendance, track leave balances, process statutory deductions, and comply with payroll regulations.
  • Taxation: Automate GST calculations, generate tax reports, file GST returns, manage e-way bills, and comply with other tax regulations.
  • Customizable Dashboards: Create personalized dashboards to visualize key business metrics, track performance trends, and gain real-time insights.
  • Remote Access: Access TallyPrime from anywhere with an internet connection, enabling remote work and collaboration.
  • Multi-lingual Support: Operate the software in various Indian languages, catering to diverse user preferences.
  • Data Security: Protect sensitive data with multi-level security measures, including encryption, password protection, and access controls.
  • Industry-Specific Features: Cater to the unique needs of specific industries, such as manufacturing, retail, distribution, and healthcare, with tailored features and reporting capabilities.
  • Customization Options: Tailor the software to specific business needs through user-defined fields, report formats, and workflows.
  • Integrations: Connect with external applications like bank feeds, payment gateways, and e-commerce platforms.
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Product Ranking

#1

among all
Accounting Software

#340

among all
Accounting Software

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Analyst Rating Summary

93
78
97
89
100
88
100
93
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Accounts Receivable
Banking and Cash Management
General Ledger and Chart of Accounts
Integration and Extensibility
Inventory Management
General Ledger and Chart of Accounts
Inventory Management
Platform Security
Financial Statements and Revenue Management
Banking and Cash Management

Analyst Ratings for Functional Requirements Customize This Data Customize This Data

QuickBooks Online
TallyPrime
+ Add Product + Add Product
Accounts Payable Accounts Receivable Banking And Cash Management Budget And Expense Management Financial Statements And Revenue Management General Ledger And Chart Of Accounts Integration And Extensibility Inventory Management Journal Entries Mobile Support Multi-company Accounting And Asset Management Platform Capabilities Project Accounting Reporting And Analytics Tax Management 97 100 100 91 93 100 100 100 82 92 65 100 100 96 100 89 88 93 69 98 100 58 100 77 60 72 82 60 70 62 0 25 50 75 100
89%
11%
0%
78%
0%
22%
100%
0%
0%
89%
0%
11%
100%
0%
0%
80%
0%
20%
92%
0%
8%
54%
0%
46%
86%
0%
14%
100%
0%
0%
100%
0%
0%
100%
0%
0%
100%
0%
0%
23%
0%
77%
100%
0%
0%
100%
0%
0%
80%
0%
20%
60%
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40%
80%
20%
0%
20%
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80%
60%
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40%
60%
10%
30%
100%
0%
0%
78%
0%
22%
100%
0%
0%
40%
0%
60%
84%
16%
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58%
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42%
100%
0%
0%
60%
0%
40%

Analyst Ratings for Technical Requirements Customize This Data Customize This Data

33%
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67%
67%
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33%
100%
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100%
0%
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User Sentiment Summary

Great User Sentiment 9426 reviews
we're gathering data
84%
of users recommend this product

QuickBooks Online has a 'great' User Satisfaction Rating of 84% when considering 9426 user reviews from 6 recognized software review sites.

we're gathering data
4.8 (23)
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4.0 (2386)
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4.4 (594)
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4.3 (5581)
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4.5 (26)
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4.1 (816)
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Awards

SelectHub research analysts have evaluated QuickBooks Online and concluded it deserves the award for the Best Overall Accounting Software available today and earns best-in-class honors for Accounts Receivable, Integration and Extensibility, Inventory Management, Platform Capabilities and Reporting and Analytics.

Analysts' Pick Award
Accounts Receivable Award
Integration and Extensibility Award
Inventory Management Award
Platform Capabilities Award
Reporting and Analytics Award

SelectHub research analysts have evaluated TallyPrime and concluded it earns best-in-class honors for Inventory Management.

Inventory Management Award

Synopsis of User Ratings and Reviews

Easy to use: Intuitive interface and clear navigation make it accessible for users of various accounting experience levels.
Automated tasks: Streamlines workflows by automatically importing bank transactions, categorizing expenses, creating invoices, and sending reminders.
Real-time insights: Provides up-to-date financial information through customizable dashboards and reports, enabling informed decision-making.
Mobile accessibility: Access and manage finances anytime, anywhere with the mobile app.
Scalability: Grows with your business, offering different plans with varying features to accommodate evolving needs.
Integrations: Connects seamlessly with various business tools, such as bank accounts, payment gateways, and e-commerce platforms.
Payroll: Simplifies payroll processing, including tax calculations and direct deposits.
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Simplified Accounting: Automates various accounting processes, from invoicing and GST compliance to bank reconciliation and financial reporting, saving time and minimizing errors.
Customizable Dashboards: Offers personalized dashboards with key performance indicators (KPIs) for a quick overview of business health, enabling informed decision-making.
Enhanced Inventory Management: Tracks stock levels, monitors movement, and generates reorder alerts to ensure optimal inventory control and prevent stockouts.
Secure Data Handling: Prioritizes data security with multi-level access controls, data encryption, and regular backups to protect sensitive financial information.
Scalability for Growth: Adapts to expanding business needs with modular licensing options, accommodating increased data volume and user count as the company grows.
Mobile Accessibility: Offers remote access through mobile apps for Android and iOS, enabling users to manage finances on the go and stay connected to business data.
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Limited customization: Lacks flexibility in customizing certain features, such as reports and chart of accounts, compared to some alternatives.
Costly add-ons: Essential features like payroll and advanced reporting often require additional fees, increasing the overall cost of ownership.
Customer support: Mixed reviews on the quality and availability of customer support, with some users reporting delays or difficulty reaching knowledgeable representatives.
Reporting restrictions: Certain financial reports and data exports have limitations, potentially requiring workarounds or manual adjustments.
Learning curve: While generally user-friendly, some features and functionalities may have a learning curve for those new to accounting software.
Occasional glitches: Users have reported occasional bugs or glitches that can disrupt workflows, requiring troubleshooting or waiting for fixes.
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Learning Curve: Steeper learning curve compared to some alternatives due to unique voucher entry system and extensive features, requiring time and effort to master.
Limited Customization: Offers restricted customization options in certain areas, potentially limiting flexibility for businesses with unique workflows or reporting needs.
Integration Challenges: Integration with third-party applications can be complex and may require additional development or reliance on third-party add-ons, hindering seamless workflows.
Performance Issues: Some users report occasional performance slowdowns, especially when handling large data volumes or running multiple tasks simultaneously, potentially impacting productivity.
Customer Support: Mixed experiences with customer support, with some users finding it helpful and responsive while others report delays or limited expertise in resolving complex issues.
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QuickBooks Online remains a popular choice for many users, praised for its user-friendly interface and automated features. "It feels like Intuit took the complexity out of accounting and made it accessible even for someone like me with limited accounting experience," shared a small business owner. However, user reviews also highlight limitations, particularly around customization and cost. "I love the ease of use," stated a freelancer, "but the reporting options feel restrictive. I often have to export data and work with it in Excel to get the insights I need." This sentiment, coupled with complaints about the cost of add-ons like payroll, leads some users to compare QuickBooks Online to competitors. "Xero seems to offer more flexibility and advanced features," mentioned an accountant, "but the learning curve is steeper, and the monthly subscription is higher." Ultimately, the decision comes down to individual needs and priorities. For those seeking a balance of ease of use, automation, and affordability, QuickBooks Online continues to be a strong contender. However, users with more complex accounting needs or a desire for greater customization might find themselves looking towards competitors offering more robust features, even if it comes at a higher cost or with a steeper learning curve.

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TallyPrime garners praise for its robust accounting features, user-friendly interface, and strong data security. Users appreciate its ability to automate tasks like invoicing and GST compliance, saving them time and minimizing errors. Additionally, customizable dashboards and mobile accessibility are lauded for providing real-time business insights and on-the-go management capabilities. However, some find its initial learning curve steeper than competitors like QuickBooks due to its unique voucher entry system. While its feature set is extensive, limited customization options might restrict flexibility for businesses with specific workflows. Integration with third-party applications can also be challenging, requiring additional effort or reliance on external solutions. TallyPrime's strengths lie in its comprehensive accounting functionalities, data security measures, and affordability compared to similar ERP systems. However, its steeper learning curve and limited customization options might deter beginners or businesses with unique needs. Users considering TallyPrime should weigh its strengths against its potential drawbacks and compare it to alternatives based on their specific requirements and technical expertise.

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