Netsuite vs. Quickbooks: Which Is Best For Your Business?

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Weighing the pros and cons of Netsuite vs. Quickbooks? Here are the key differences and similarities to consider before making your choice.

Written by
Vendr Team
Published on
April 11, 2024
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Most organizations today rely on software to streamline business operations, manage finances, and maintain a competitive edge. Two popular options in this area are NetSuite and QuickBooks, which both offer businesses robust accounting and financial management capabilities along with features that help optimize these processes. 

One or the other isn’t necessarily a better overall financial software option; both NetSuite and QuickBooks are different solutions for different types of businesses. When evaluating NetSuite vs. QuickBooks as the best software option for your organization, business owners and decision-makers need to understand the key features, benefits, and potential drawbacks, as they’re designed to cater to different types of businesses with different needs. 

In this guide, we’ll compare and contrast Netsuite and Quickbooks with essential details on: 

  • Understanding NetSuite and QuickBooks 
  • Feature comparison. 
  • Pricing and value. 
  • Choosing what's best for your business. 
  • Netsuite vs. Quickbooks FAQs. 

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Understanding NetSuite and QuickBooks 

Let’s take a quick, high-level look at each of these software solutions. 

NetSuite overview

NetSuite is a comprehensive, cloud-based Enterprise Resource Planning (ERP) software solution designed for medium-sized and large businesses. Beyond accounting functionality, NetSuite offers a wide range of features, such as Customer Relationship Management (CRM), inventory management, and e-commerce capabilities. Due to NetSuite’s robust software features and scalability, it’s an ideal choice for rapidly scaling businesses and those looking to expand and support their operations as they reach the next stage of growth. 

Netsuite is currently the top-purchased ERP tool on the Vendr Buying Platform — with 10x more purchases than competitors such as Workday and Certinia — and was the 8th most renewed SaaS product in 2023. Netsuite customers can also integrate the platform with Vendr to gain a more comprehensive picture of their SaaS spend. Check out our detailed guide on what Netsuite is and how it's used for more information.

QuickBooks overview

QuickBooks is one of the most popular accounting software choices for small to medium-sized businesses. Known for its short learning curve and user-friendly interface, core accounting capabilities, and affordability, QuickBooks offers several pricing tiers and packages. Between the two, QuickBooks is more geared toward businesses with smaller software budgets and those needing fewer additional capabilities beyond accounting. 

Feature comparison: NetSuite vs. QuickBooks 

Now it’s time to compare and contrast platform features related to accounting and financial management, inventory and order management, scalability, and integration. 

Accounting and financial management 

Both NetSuite and QuickBooks provide users with industry-leading accounting and financial management features. Their differences lie in the depth of features and reporting capabilities provided by each platform. 

1. NetSuite 

  • Offers comprehensive financial management features, including general ledger, cash management, accounts payable, and accounts receivable. 
  • Contains real-time financial tracking and reporting to monitor financial performance and make data-driven decisions. 
  • Complies with international accounting standards, making it ideal for multi-national companies. 

2. QuickBooks 

  • Offers core accounting features, including invoicing, bill payment, and income and expense tracking. 
  • Contains reporting capabilities, enabling organizations to generate financial statements and track key performance indicators (KPIs). 
  • QuickBooks complies with United States accounting standards, making it a great software solution for smaller businesses primarily operating within the U.S. 

Inventory and order management 

Inventory and order management features are provided by both QuickBooks and NetSuite, but their respective features are catered to different needs.

1. NetSuite 

  • Includes complex, multi-location warehousing solutions that make NetSuite more suitable for businesses with multiple warehouses or distribution centers. 
  • Offers advanced inventory management features, including inventory forecasting, demand planning, and cycle counting. 
  • Integrates well with eCommerce platforms so businesses can easily manage online sales and inventory within the same software platform. 

2. QuickBooks

  • Includes basic inventory tracking and management features. 
  • Businesses can track inventory levels, manage purchase orders, and generate basic inventory reports. 
  • Integrates well with the most popular eCommerce platforms, including Shopify and WooCommerce. 

Scalability and integration

One of the most significant differences between NetSuite vs. QuickBooks is their scalability and integration capabilities. 

1. NetSuite

  • NetSuite is designed to grow with medium or large businesses, providing scalability and customization options. 
  • Contains a comprehensive suite of business management applications, including CRM and human capital management. 
  • Offers a wide range of integration capabilities, enabling businesses to connect third-party applications and services. 

2. QuickBooks

  • Offers a more straightforward, user-friendly interface without quite as many detailed customization options. 
  • Provides basic integration capabilities enabling businesses to connect to popular third-party applications and services.
  • Contains a few additional business management applications, including payroll and time tracking. 

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Pricing and value 

Both QuickBooks and NetSuite offer several pricing tiers and packages, so businesses must consider their organization’s specific needs and software budget when evaluating the best option. 

NetSuite pricing overview

One of NetSuite's biggest advantages is its customizable pricing model in which businesses choose the specific features and modules they need. NetSuite offers two classifications for its suite of apps: Legacy and SuiteSuccess, each with multiple service levels based mostly on the number of users and business entities that will use the software.

The cost of NetSuite varies widely depending on an organization’s size and the number of additional applications and modules it requires. The base ERP software package costs $999 per month plus $99-$200 per user per month, with optional add-on modules, like Advanced Financials and its CRM application, costing an additional $300-$800 per month.

To find what NetSuite will cost your company per month, you will need to contact them for a quote. 

QuickBooks pricing overview

QuickBooks offers several pricing tiers that are a bit more straightforward than NetSuite and more affordable for small businesses. QuickBooks online access starts at $30 per month for the Simple Start package, and up to $200 per month for the Advanced package.

QuickBooks also offers a self-employed pricing model for freelancers, contractors, and sole proprietors that starts at $20 per month and goes up to $40 per month for its tax bundle features, including access to CPAs.

Similar to NetSuite, the overall price for QuickBooks depends on the specific features and software capabilities your business needs. While these features are less robust than NetSuite, thousands of small to medium-sized businesses find that using QuickBooks is more than adequate for their business’s needs. 

Choosing what's best for your business

The NetSuite vs. QuickBooks comparison comes down to your business’s needs and size. Both are powerful software solutions designed to help businesses streamline operations and manage financials. Each caters to different scales of business operations and software needs, so it’s essential that a business’s decision-makers thoughtfully evaluate their software requirements before making a decision. 

Consider the size of your company, the complexity of business operations, and your specific accounting and financial management needs, along with the available software budget. Aligning business requirements, growth plans and projections, and financial capabilities helps to ensure your organization selects the best software solution for your specific needs. 

Netsuite vs. Quickbooks FAQs 

Here are some of the most common questions from those evaluating Netsuite and Quickbooks. 

What are the main differences between NetSuite and QuickBooks?

NetSuite is a comprehensive ERP software platform designed for medium to large businesses, offering a wide range of features beyond basic accounting, including CRM, e-commerce, and inventory management.

QuickBooks is designed for small to medium-sized businesses that don’t require all of the advanced features that enterprises desire. QuickBooks focuses on core accounting functionalities, providing a user-friendly interface and much more affordable pricing tiers that are more in line with SMB software budgets. 

Can I migrate my data from QuickBooks to NetSuite easily? 

Yes, NetSuite provides data migration services to help companies migrate financial data from QuickBooks and other accounting software applications. Keep in mind that the speed, ease of use, and successful data migration efforts depend on your business’s overall volume and complexity of data. 

How do NetSuite and QuickBooks compare in terms of customer support?

Both QuickBooks and NetSuite provide customer support, however the level and type of support provided by each platform differs. 

Netsuite: 

  • 24/7 customer support through multiple channels, including phone, email, and live chat. 
  • Provides an online knowledge base that includes video tutorials, user guides, and community forums. 
  • Availability of a dedicated account manager to assist businesses with more complex needs and large budgets. 

QuickBooks:

  • Customer support is available through phone, email, and live chat. 
  • Provides access to an online knowledge base that includes user guides, video tutorials, and community forums. 
  • For an additional fee, QuickBooks offers additional support services, such as payroll and tax filing assistance. 

Are there industries that benefit more from using NetSuite vs. QuickBooks, or vice versa?

NetSuite is more suitable for enterprise businesses with a complex array of ERP needs, while QuickBooks is more suitable for smaller businesses with straightforward accounting needs and limited budgets.

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Vendr Team
Vendr's team of SaaS and negotiation experts provide their curated insights into the latest trends in software, tool capabilities, and modern procurement strategies.

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