QuickBooks Self-Employed (discontinued) vs. TallyPrime

QuickBooks is a great tool for new SoleTraders that need basic accounting software and require digital invoicing for their clients to send via email and access key features via a mobile app on the go. QuickBooks is a straightforward tool to use with a simple design and learning curve for business owners that are not very tech-savvy. For businesses that operate on a larger scale and need to provide access to other users on their team, QuickBooks is limited. This type of business may also require more insights into the business outside of accounting, and QuickBooks won't be able to supply insights outside of that.

Incentivized

There was a need to maintain a clear overview of the inventory for one of our clients, including tracking products, monitoring stock levels, and managing purchase orders. TallyPrime's inventory management feature allowed us to efficiently track and update stock quantities as products are sold or restocked. Which was a real savour for us.

Incentivized

• Tracking expenses is as simple as swiping left and right, it couldn't be easier.
• Running invoices through QuickBooks is simple and effective.
• Allowing clients to pay by card or check allows you to get paid faster and give the clients multiple ways of paying invoices, which helps everyone.
• Automatically tracking estimated quarterly taxes is very helpful and it keeps it top-of mind for each month.

Incentivized

• TallyPrime simplifies tax management by automatically calculating various taxes, such as GST, based on transaction data.
• TallyPrime's payroll module handles complex payroll calculations effortlessly
• It offers user-level access control and encryption, ensuring that sensitive financial data is protected

Incentivized

• There are a number of unnecessary and ongoing prompts to do small tasks, like creating a rule for certain transactions. I could do without those.
• There are also occasional glitches with bank setup that produce duplicate transactions which can be a pain to deal with. I also haven't been able to find a way to effectively edit transactions.
• I also wish that QBSE integrated with software like Freshbooks, Tripit and Expensify.

• TDL related automation is something that I'm very curious and TallyPrime should invest time to develop it and provide Knowledge training on it.
• I feel the necessity to introduce the TallyPrime software access in a handheld device access or via web such that on the go transaction can be made noted in TallyPrime without resorting to Desktop environment
• The UI should also be changed currently, whenever I sit, I use keyboard like a typewriter and that aesthetic must be modified with a feature
• The theming feature should be introduced in the TallyPrime, earlier, in TallyERP 9, we have green color screen with some shades of green and now that they have changed that to some blue with bluish shade, I'm curious to have customized colors.

Incentivized

I have been using this software for several years now and it has always put out my data in beautiful generated reports that I can use for verification purposes with my financial institute and the IRS. It has all the tools I need to run my business without loosing track of anything

Incentivized

I use it regularly, so I feel it as best apart from the User Interface. For recording general day to day transactions, it is apt and to go far beyond given features and for customization, there is a need for the Tally expert to assess the business requirement, So I feel the rating is apt in this judgement.

Incentivized

I have never faced any difficulties that required me to contact QuickBooks customer service. QuickBooks has plenty of online tutorials, blog posts, and helpful tips and advice for almost any issues you may face using the desktop or app version of the software. Even if you can not find the right answer on the QuickBooks webpages, there are loads of YouTube videos from experts.

Incentivized

To be honest, I haven't shopped around for a bookkeeping package. I've been using TurboTax for well over a decade, and adding on QuickBooks Self-Employed (once I made the switch to freelancing) was a no-brainer. I probably could have used the program to help me keep track of employee expenses as I was working for others in the past.

Incentivized

For petty transactions, Microsoft Excel is in place earlier to track the expenses and TallyPrime has replaced it with cost centers and sub-ledgers. Zoho Books being a cloud based accounting software, before considering TallyPrime, has suited the Business requirement to some extent, however, it is not adopted owing to certain challenges. SAP is far beyond the business requirement and the Learning curve is high in that.

Incentivized

• A positive impact on my business is, of course, keeping track of income and expenses, and approximate quarterly taxes. QuickBooks is a little better at this than Quicken, I think.
• By using QuickBooks (and Quicken) it saves me having to spend money on an accountant. (At least up to this point.)
• However, the time I spend on daily or weekly entries takes billable time away from other things.

Incentivized

• It gives the best return on investment, if alternative chosen it won't suit the way TallyPrime suits
• I feel 90% will be the ROI of TallyPrime, the 10% is deduced as some manual intervention is needed at places
• The learning curve is also good, which the reason, the newbie can grab the best of it
• overall, the Impact is positive till the time Audit is in place

Incentivized