Do you need help keeping track of everything, like money coming in and going out, orders, or even who your customers are? If so, you're not alone! Many businesses face the same problems. You might need better tools to help you organize everything and make smarter decisions. Two popular options are NetSuite vs QuickBooks.
This comparison will examine what NetSuite and QuickBooks can do and which might be best for you in 2024. LitExtension will focus on businesses that have a lot going on, just like yours:
- Key differences between Netsuite vs Quickbooks at a glance;
- Detailed analysis of the two platforms regarding ideal users, accounting features, and more!
- Key takeaways and recommendations on which solution to use.
Let’s get in!
Netsuite vs Quickbooks – Key Differences at a Glance
On one hand, NetSuite is a comprehensive, cloud-based Enterprise Resource Planning (ERP) system with many business functions, including accounting, inventory management, customer relationship management (CRM), and eCommerce.
On the other hand, QuickBooks is user-friendly accounting software that offers various plans and features to fit different budgets and needs. Its widespread use and support make it easy to find resources and assistance.
Throughout this QuickBooks NetSuite comparison, we will focus on users' most common comparison between NetSuite (the cloud-based ERP solution) and QuickBooks Online Advanced (the cloud-based version of QuickBooks).
In this article, we won't declare a winner. We aim to provide all the details to help you make the best choice for your business needs.
If you are in a hurry, let's quickly get the key points in this Oracle Netsuite vs QuickBooks comparison below:
Features | NetSuite | QuickBooks |
Ideal Users | Mid to large enterprises, high growth, complex operations, multiple departments, complex financial processes. | Small to medium businesses, simpler accounting needs, user-friendly solution. |
Implementation & Setup | Months-long process requires dedicated team, consultants/partners. | Days to weeks, simpler setup, often DIY by staff. |
Pricing | $12K+ per year for small businesses, $50K+ for mid-sized, $200K+ for large enterprises. | $30-$200+/month depending on plan and users. |
Core Accounting Features | Invoicing, expense tracking, bank reconciliation, and financial reporting (highly customizable). | Invoicing, expense tracking, bank reconciliation, financial reporting (moderately customizable). |
Financial Management | Advanced: multi-currency, multi-subsidiary consolidation, revenue recognition, budgeting, forecasting, advanced allocations. | Multi-currency, basic budgeting/forecasting, class tracking, integrates with Fathom for advanced reporting. |
ERP Capabilities | Comprehensive ERP suite: financials, CRM, inventory, order management, eCommerce, HR, etc. | Limited ERP features, primarily accounting with some add-ons. |
CRM | Built-in CRM module seamlessly integrated with other functions. | Requires third-party integrations. |
Reporting & Analytics | Highly customizable reports, real-time dashboards, financial modeling, forecasting, and SuiteAnalytics Workbook for non-technical users. | Customizable reports, dashboards, and real-time access integrate with Fathom for enhanced analytics. |
Ecommerce | Integrated SuiteCommerce platform or integration with popular platforms like Shopify, Magento, and BigCommerce. | Limited eCommerce functionality requires third-party integrations. |
Mobile Accessibility | Robust mobile app with role-based access, key business functions, approvals, and offline mode. | Mobile app for basic accounting tasks, receipt capture, mileage tracking, and reports. |
Scalability | Highly scalable, can handle rapid growth and increased complexity. | Limited scalability, suitable for small to medium-sized businesses. |
Security | Robust encryption, granular access controls, SOC 1 & 2, PCI DSS, ISO 27001 compliant. | Data encryption, access controls, 2FA, firewall protection. |
Support | 24/7 global phone support, email, chat, knowledge base, community forum. | Phone, email, chat (limited hours), knowledge base, community forum. |
Target Industry Solutions & Ideal Users
Features | NetSuite | QuickBooks |
Target Industries | Manufacturing, Wholesale Distribution, Retail, Software and tech, and Professional Services. It caters to industries with complex operations and unique needs. | Primarily serves Professional Services and construction. It is also suitable for Retail, eCommerce, and Hospitality with simpler operations. |
Ideal Users | Large Enterprises (50+ employees): High growth, multiple departments, complex processes, global operations, and a need for a unified platform. Prioritize scalability and customization. | Small to Medium Businesses (1-100 employees): Simpler accounting needs, budget-conscious, prioritize ease of use. Suitable for businesses with less complex operations. |
NetSuite is a great choice for companies with complex operations to manage. Its strength lies in managing intricate operations like manufacturing supply chains, wholesale distribution networks, and multi-channel retail. If your business is growing rapidly and requires a tool to grow alongside it, we highly recommend NetSuite.
Whereas QuickBooks is a great choice for smaller companies that mainly need assistance with financial tasks. Its target industries are professional services, construction, non-profits, retail, eCommerce, and hospitality.
Insights from NetSuite and QuickBooks Users
NetSuite user:
Quote: As a former accountant, I like how easy it is to use NetSuite. The implementation is definitely shorter than some of the ERPs in the market. Fixed Asset management, intercompany/elimination, allocation schedule and amortization schedule are some of the features that I would dream about when I was doing accounting. As someone who uses NetSuite every day, it's really helpful to have a good customer support team to answer my questions whenever I needed.
– Wong J. – G2 user review
QuickBooks user:
QuickBooks Online Advanced is very simple to use and has all the basic functions that you would want in accounting software for a small business. I am on the platform every day running reports, categorizing banking information, reviewing accounts payable and accounts receivable, etc. It also integrates easily with a lot of other software, so all your needs can be met.
– Josh H. – G2 user review
Implementation & Setup
In a board view:
- NetSuite implementation is a complex, multi-month process involving significant planning, resources, and potential customization.
- QuickBooks offers a faster setup within days or weeks, requiring minimal resources and focusing on essential accounting tasks.
NetSuite
NetSuite is a comprehensive ERP system that covers various aspects of business operations, such as financials, inventory, order management, CRM, HR, and more. This level of integration and complexity naturally requires a more thorough implementation process.
Setting up NetSuite for a complex business usually takes a few months, sometimes even up to a year. It depends on:
- How big and complicated is your company?
- How much do you want to change NetSuite?
To set up NetSuite successfully, you'll need a team of people to help you:
- Your in-house team – People from your company who understand your business and what you need from the software.
- NetSuite experts – People who know NetSuite very well and can guide you through the setup process.
Here's an overview of the NetSuite implementation process:
- First, you figure out what you want NetSuite to do and make a detailed plan.
- Then, you configure NetSuite to match your business practices, such as setting up your chart of accounts, defining user roles and permissions, and configuring workflows.
- (Optional) If you're switching from another tool, you'll need to move your information to NetSuite.
- If you need NetSuite to do something specific, you can work with a NetSuite developer to create custom scripts or workflows.
- Before you start using NetSuite, you'll need to test it thoroughly to ensure everything is working as expected.
- Your team needs to know how to use NetSuite effectively. To help them understand the software, you'll need to provide training on all the relevant features and functionalities.
- You will officially start using NetSuite. To ensure smooth operation, it's important to have a plan for ongoing support and maintenance.
QuickBooks
Unlike NetSuite's lengthy implementation, getting started with QuickBooks typically takes less time, only a few days or weeks. The exact timeline depends on factors like the complexity of your financial data and the number of users you need to add.
However, in most cases, businesses can be up and running relatively quickly. QuickBooks Online Advanced is designed to be easy to use, even if you're not an accounting expert. In fact, many businesses can set it up themselves without needing extra help.
Here's how you get started:
- First, go to the QuickBooks website and choose the plan that works best for your business.
- Then, enter basic information like your company name, address, and what kind of business you have.
- After that, choose your currency, how dates should look, and how you want to receive emails.
- Create categories for your income and expenses. QuickBooks has some ready-made categories you can use, or you can make your own.
- Link your bank accounts and credit cards so QuickBooks can automatically track your transactions.
- Finally, invite your employees to use QuickBooks and give them the right permissions.
Before you proceed, we'd like to bring to your attention some important points to consider if you run complex businesses.
- You might not be able to change how some key parts of the software work.
- If your business relies on other systems, such as CRM or inventory management, you may need to integrate them with QuickBooks using third-party apps.
Pricing
Features | NetSuite | QuickBooks |
Pricing Model | Quote-based, tailored to specific needs | Tiered subscription plans with set features and pricing |
Transparency | Less transparent, requires contacting NetSuite or a partner for a quote | Transparent pricing details available on the website |
License/Subscription Fee | Starts at $999 per month for a limited number of users | Varies based on plan: Simple Start, Essentials, Plus, Advanced |
Modules | Additional cost per module varies depending on complexity and features | N/A |
User Count | Additional cost per user | Included in the subscription fee up to a certain limit, then additional cost per user |
Add-on Costs | Implementation services, customization, integrations, support/maintenance | Payroll, additional users, premium support |
Overall Cost Range (Annual) | Varies widely based on modules, users, and customizations; $12K+ for small businesses, $50K+ for mid-sized, $200K+ for large enterprises | $360+ for Simple Start, $660+ for Essentials, $1,020+ for Plus, $2,400+ for Advanced |
NetSuite doesn't have a one-price-fits-all model. It's more like building a custom package to fit your business needs. However, understanding the general structure and potential costs can help you prepare your budget. How much is NetSuite per month or per year?
Given the customizable nature of NetSuite, the total cost can vary significantly:
- Small businesses: $12,000 – $50,000 per year
- Mid-sized businesses: $50,000 – $200,000 per year
- Large enterprises: $200,000+ per year
It's crucial to get a personalized quote from NetSuite to understand the exact cost for your specific business needs. While the initial cost may seem high, NetSuite's comprehensive features, scalability, and customization options can provide substantial long-term value and ROI (Return on Investment).
Between Netsuite vs Quickbooks cost, QuickBooks has a transparent model to help you understand the costs involved. It's also good to know that QuickBooks often provides discounts and promotions, and I recommend checking their website for the latest pricing information.
Additionally, taking advantage of their 30-day free trial can help you determine if QuickBooks is the right fit for your business!
Here are some QuickBooks potential add-on costs you may need to consider:
- Payroll: QuickBooks Online Payroll is a separate subscription service that integrates with QuickBooks.
- Additional users: If you exceed the maximum number of users included in your plan, you'll need to pay extra for each additional user.
- Premium support: QuickBooks offers additional premium support options with faster response times and dedicated account managers.
Core Accounting Features
Features | NetSuite | QuickBooks |
Invoicing | Automated workflows, customizable templates, recurring billing, multi-currency support | Customizable templates, recurring invoices, payment reminders |
Expense Tracking | Mobile app with receipt capture, automated expense allocation, and customizable expense policies | Mobile app with receipt capture and mileage tracking, customizable expense rules |
Bank Reconciliation | Automated matching of bank transactions, import of bank statements, variance reporting | Automated bank feeds, customizable bank rules, reconciliation reports |
Financial Reporting | Real-time, customizable reports and dashboards, drill-down capabilities, consolidated reporting | Customizable reports and dashboards, pre-built management reports, integrate with Fathom for advanced reporting |
Both NetSuite and QuickBooks provide the essential tools for managing day-to-day financial operations. However, NetSuite's core accounting features focus more on larger, complex businesses with its advanced automation, multi-currency support, and consolidated reporting for multiple entities.
While not as robust as NetSuite, QuickBooks prioritizes ease of use and offers sufficient functionality for growing businesses with its intuitive interface and customizable reports.
QuickBooks also connects with a tool called Fathom. This tool helps you dig deeper into your finances, compare your business to others in your industry, and find ways to improve. It's like having a financial advisor built into your accounting software!
Financial Management
Features | NetSuite | QuickBooks |
Target Audience | Large enterprises, complex financial structures, multi-national operations | Growing businesses, simpler needs, budget-conscious |
Multi-Currency | Full multi-currency support with automated conversions and separate accounting books | Multi-currency invoicing and tracking, but no separate accounting books |
Consolidation | Built-in, automated multi-subsidiary consolidation | Requires third-party integrations for consolidation |
Revenue Recognition | Automated, compliant with GAAP and IFRS 15, handles complex revenue models | Manual tracking with custom reports, limited automation |
Budgeting & Forecasting | Advanced tools for detailed budgeting, forecasting, and "what-if" scenarios | Basic budgeting and forecasting capabilities |
Unique Strength | Advanced Allocations for complex expense/revenue distribution | Class Tracking for deeper insights into profitability by segment |
NetSuite clearly outshines QuickBooks when it comes to managing the complex financial operations of large, global enterprises. Its native multi-currency and multi-subsidiary capabilities, along with revenue recognition, make NetSuite the superior choice for businesses with complex financial needs.
NetSuite's Advanced Financials further strengthens its position as a powerhouse for handling complex expense and revenue distribution.
QuickBooks also offers a solid foundation for growing businesses. Its multi-currency support and basic forecasting tools are sufficient for many small to medium-sized businesses.
Additionally, its unique class tracking feature provides a level of financial insight not typically found in basic accounting software. For example, you could label each department, project, or product type. This makes it easy to see which parts are making money and which need more attention.
ERP (Enterprise Resource Planning) Capabilities
ERP Capability | NetSuite | QuickBooks |
Inventory Management | Full-featured: real-time tracking, demand planning, multi-warehouse, barcoding | Basic: track inventory levels, receive low-stock alerts |
Order Management | Comprehensive: quote-to-cash automation, sales order management, returns management, complex pricing | Basic: create and manage sales/purchase orders, limited automation |
Supply Chain Management | Full-featured: procurement, supplier relationship management, demand-driven replenishment | No native functionality requires third-party integrations |
Project Management | Full-featured: project planning, budgeting, time/expense tracking, resource allocation, project accounting | Basic project tracking, time and expense recording, integrated with 3rd-party tools |
NetSuite is truly a strong player in the world of ERP. It offers a complete toolkit to manage all aspects of your business operations, from tracking inventory to fulfilling orders to managing complex projects.
NetSuite also has a special tool called SuiteAnalytics Workbook, which is like a secret weapon for your business. It helps you create custom reports and charts to understand your data better.
QuickBooks, on the other hand, is more like a lightweight tool. It has some basic ERP-like features, like tracking inventory and creating orders, but it's not designed for complex operations. QuickBooks might not be enough if your business needs to manage a complex supply chain or large projects. You'd need to rely on additional tools, which can be a hassle and add extra costs.
CRM (Customer Relationship Management)
ERP Capability | NetSuite | QuickBooks |
CRM Capabilities | Built-in: A complete, comprehensive CRM module | Third-party integrations: Connects with external CRM platforms (Salesforce, HubSpot, Zoho, etc.) |
Key Features | Lead management, sales force automation, marketing automation, customer service, partner management | Varies depending on the chosen CRM platform |
Integration | CRM data is integrated with other NetSuite modules (financials, inventory, orders) | Setting up and maintaining connections between QuickBooks and the chosen CRM can be complex |
Customization | Customize workflows, fields, forms, and reports to match your unique processes | Depends on the chosen CRM platform's customization options |
Analytics | Built-in analytics tools for deep insights into customer behavior, sales performance, and marketing effectiveness | Depends on the chosen CRM platform's analytics capabilities |
NetSuite offers a unified approach to CRM that integrates customer data with other core business functions. This streamlines processes, eliminates data silos, and provides a broad view of customer interactions.
NetSuite is ideal for businesses that value a seamless experience and want their CRM to be tightly integrated with their financials, inventory, and order management.
On the other hand, QuickBooks provides flexibility through integrations. This allows businesses to choose a CRM that aligns perfectly with their unique needs and budget. However, this flexibility comes with the added complexity of managing integrations and ensuring data synchronization between QuickBooks and the chosen CRM.
Reporting & Analytics
Features | NetSuite | QuickBooks |
Customizable Reports | Extensive library of pre-built reports, intuitive report builder for creating custom reports | Pre-built templates some customization options, but less flexible than NetSuite |
Dashboards | Multiple dashboards for different roles and departments | Display key metrics, but real-time updates may be limited compared to NetSuite |
Real-Time Data Access | Real-time visibility into all business data | Some data may not update in real-time |
Forecasting | Robust forecasting capabilities based on historical data and trends | Limited forecasting based on historical data |
NetSuite takes the lead in reporting and analytics with its extensive library of pre-built and customizable reports, real-time dashboards, and robust forecasting capabilities.
The SuiteAnalytics Workbook can further empower users to create reports and visualizations without the need for technical expertise. This makes NetSuite ideal for businesses with complex operations that require in-depth analysis and data-driven decision-making.
While not as comprehensive as NetSuite, QuickBooks offers a user-friendly approach to reporting and analytics with its customizable reports and dashboards. Its integration with Fathom significantly enhances its analytical capabilities, providing deeper insights and valuable benchmarking features for growing businesses.
Ecommerce
Features | NetSuite | QuickBooks |
Ecommerce Platform | SuiteCommerce, a comprehensive eCommerce platform seamlessly integrated with NetSuite ERP. | Connects with popular eCommerce platforms like Shopify, Magento, and BigCommerce. |
Key Features | Omnichannel commerce, inventory and order management, marketing and merchandising, customer service, powerful site management tools. | Varies depending on the chosen eCommerce platform. |
Integration | Ecommerce data (orders, inventory, customer data) flows seamlessly into NetSuite's ERP. | Requires setting up and maintaining connections between QuickBooks and the chosen eCommerce platform. |
Functionality | Comprehensive: Includes features for inventory management, order fulfillment, marketing, and customer service. | Primarily, it focuses on syncing sales and inventory data between the eCommerce platform and QuickBooks. |
NetSuite offers a complete solution for selling online called SuiteCommerce, which is seamlessly integrated with its ERP system. You can sell your products through your website, mobile app, or even in a physical store, and NetSuite will manage everything from one central place.
If you already have an online store on platforms like Shopify, Magento, or BigCommerce, NetSuite can connect with them, too! This way, you get the best of both worlds: a great storefront and powerful tools to manage your business.
✅ Read more: Shopify NetSuite Integration
Unlike NetSuite, QuickBooks isn't primarily an eCommerce platform. However, it offers several ways to integrate with popular online stores and manage your online sales.
QuickBooks can connect directly to popular online stores like Shopify, WooCommerce, BigCommerce, and Magento. This means you don't have to enter your sales data into QuickBooks manually, it happens automatically!
Mobile Accessibility
Features | NetSuite Mobile App | QuickBooks Mobile App |
Access to Key Functions | Financials, CRM, Inventory Management, Order Management, Approvals | Invoicing, expense tracking, bill management, reports, customer/vendor management |
Role-Based Access | Tailored views based on user roles | Limited role-based access |
Customization | Customizable dashboards | Customizable dashboards with limited options |
Offline Functionality | Access and update data offline | Limited offline capabilities |
Advanced Features | Voice search and commands, barcode scanning, push notifications | GPS mileage tracking, receipt capture |
User Experience | Intuitive interface designed for complex tasks | User-friendly interface designed for quick access to essential features |
NetSuite understands that running a complex business means being on the move. That's why they have a mobile app that lets you access important information and do tasks right from your phone or tablet. NetSuite offers role-based access, customizable dashboards, and an offline mode for complex organizations.
Though the NetSuite mobile app is very powerful, it can't do everything the desktop version can. Some complex tasks, like creating custom reports or making big changes to the software, still require a computer.
In the meantime, QuickBooks has a mobile app that provides a convenient way to manage finances, track expenses, and stay connected to your business from anywhere.
With its user-friendly interface and features like receipt capture and mileage tracking, QuickBooks is a reliable choice for small business owners and employees who need to manage finances on the go. While it may lack some of NetSuite's advanced features and customization options, its convenience and ease of use can provide a sense of reassurance.
Scalability
Unlike some tools that can't keep up as your business grows, NetSuite is designed to expand with you. NetSuite has a special trick up its sleeve called SuiteSuccess. It includes the best workflows and industry-specific tools to help you get started quickly and easily.
You can also add new features as your business needs change. This means NetSuite can grow with your company, even if you expand quickly or your business becomes more complex.
In contrast, QuickBooks can handle some growth, but it has its limits. You can add up to 25 users, which is enough for many small and medium-sized businesses. Besides, QuickBooks can handle a lot of buying and selling, but it might slow down if you have too much activity.
If you need to do more complicated things, like managing different branches of your company or handling many different products, QuickBooks might not have all the tools you need. So, we recommend NetSuite when your business is growing quickly or becoming more complex.
Security
Features | NetSuite | QuickBooks |
Encryption | AES-256 (data at rest), TLS 1.2 (data in transit) | 128-bit SSL (data in transit) |
Access Controls | Role-based access controls (RBAC), customizable roles, two-factor authentication (2FA) | User roles with varying permissions, two-factor authentication (2FA) |
Compliance Certifications | SOC 1 Type 2, SOC 2 Type 2, PCI DSS, ISO 27001 | No major compliance certifications |
Additional Security Measures | SuiteCloud development framework security (protects against unauthorized code execution) | Firewall protection, regular security updates |
Both NetSuite vs QuickBooks use strong encryption, but NetSuite's AES-256 is generally more secure than QuickBooks’s 128-bit SSL. In terms of compliance, QuickBooks lacks multiple certifications to assure users of its adherence to strict security standards, which NetSuite has.
If you’re considering additional security measures, NetSuite's SuiteCloud security adds a layer of protection for custom development, while QuickBooks focuses on basic safeguards like firewalls and updates.
Support
Features | NetSuite | QuickBooks |
Support Channels | Phone (24/7 global), email, chat, knowledge base (SuiteAnswers), community forum | Phone (limited hours), email, chat (limited hours), knowledge base, community forum |
Response Time | Varies by support plan; faster with premium plans | Varies by channel and issue complexity |
Dedicated Support | Premium Support, Advanced Customer Support (ACS), Developer Support | Premium support is available for an additional fee |
Knowledge Base | Extensive SuiteAnswers knowledge base with articles, tutorials, and documentation | Comprehensive knowledge base with articles, tutorials, and videos |
Community Forum | Active community forum for knowledge sharing | Active community forum for knowledge sharing |
NetSuite excels in providing comprehensive 24/7 global phone support, a vast knowledge base, and an active community forum. Most people are happy with NetSuite's help, but sometimes, especially during busy times, getting someone on the phone can take a while.
In the meantime, QuickBooks also offers multiple support channels, but the availability and quality can be inconsistent. While simple questions can be resolved through the knowledge base or community forum, more complex issues may require phone support, which can have longer wait times.
QuickBooks Online vs Netsuite – FAQs
What's the difference between NetSuite and QuickBooks?
NetSuite can handle everything from tracking your products to managing your customers and even paying your employees. On the other hand, QuickBooks is great at tracking income and expenses, sending invoices, and creating financial reports.
Why do people switch from QuickBooks to NetSuite?
Businesses often outgrow QuickBooks as it grows bigger and more complicated. QuickBooks might not be able to handle a large number of transactions, complex accounting rules, or different parts of the business working together. NetSuite can handle all of these things, making it a better choice for growing and changing businesses.
Does QuickBooks integrate with NetSuite?
No, NetSuite and QuickBooks don't connect directly. However, there are ways to make them talk to each other: third-party tools, manual transfer, and data migration. If you need help with NetSuite to QuickBooks migration, feel free to contact the LitExtension team for a tailored consultation.
Is QuickBooks an ERP system?
No, QuickBooks is mainly for accounting, but it can do some things that tools for managing your whole business (ERP systems) do. It's good if you need basic tools for inventory, orders, or projects, but if your business is very complex, you might need a more powerful ERP system like NetSuite.
Who is NetSuite's biggest competitor?
NetSuite's biggest competitor is SAP. Both are big, powerful systems designed for larger companies with complex needs. However, NetSuite is often seen as easier to use and quicker to set up than SAP.
How much does NetSuite cost per month?
NetSuite doesn't have a set price that you can find online. The cost depends on many factors, like the size of your business, the features you need, and how much you want to customize the software.
Given the customizable nature of NetSuite, the total cost can vary significantly. However, based on industry estimates, here's a rough idea:
- Small businesses: $12,000 - $50,000 per year
- Mid-sized businesses: $50,000 - $200,000 per year
- Large enterprises: $200,000+ per year
Final Words & Recommendations
Ultimately, the best choice for your business depends on your unique needs and goals. I encourage you to evaluate your needs carefully, explore both platforms, and consider your long-term goals.
- NetSuite is the clear winner if you're a large enterprise with complex operations, multiple departments, and a desire for extensive customization and scalability.
- QuickBooks Online Advanced is a great option for small-to-medium-sized businesses with simpler accounting needs and a focus on affordability and ease of use.
No matter which path you choose, both NetSuite vs QuickBooks Online Advanced offer valuable tools to help you manage your financial operations and achieve your business goals.
We hope that this information provides you with some valuable insights. Please feel free to visit the LitExtension blog and our eCommerce community and connect with other eCommerce fellows.
