Dynamics Square is Australia's premier Microsoft Business Applications Solution Partner, enabling small and medium-sized enterprises to disrupt markets and outperform competition using the finest tailored-to-needs business-centric solutions.
What is an Accounting Solution?
Many businesses reach a stage where manual processes and disjointed accounting practices no longer contribute to their success but constrain their operations. At this point, businesses need a sophisticated accounting solution that serves as a unified platform for gathering, documenting, organising, managing, retrieving and distributing accounting data and various financial details.
An advanced accounting solution enhances financial operations by facilitating streamlined data entry and retrieval, thus mitigating the potential for human errors in record-keeping and calculations. It increases financial accuracy and saves time by automating ledger management, invoicing, payroll processing and tax calculations.
What is Dynamics 365 Business Central?
Dynamics 365 Business Central is a cloud-based ERP solution that connects business processes in real-time for smart decision-making and improved productivity. It is a comprehensive accounting solution that combines fundamental accounting functions like general ledger, accounts payable and accounts receivable with robust inventory management, sales and purchasing abilities.
What is XERO Accounting?
XERO fosters a connection between small businesses and their trusted advisors, granting accountants and bookkeepers immediate access to their financial status. Utilising XERO's powerful accounting capabilities, businesses have visibility of their cash flow, transactions and account particulars from any place, enhancing flexibility and accessibility.
Dynamics 365 Business Central vs XERO Comparison
A solution proves its value to a business when it can efficiently accommodate its specific needs. XERO is a robust entry-level accounting solution, offering comprehensive services tailored specially for small startups, freelancers and micro-organisations. However, Business Central can effectively address the evolving needs of a growing business with its cutting-edge capabilities and updated features.
The following table compares the distinctive features of Business Central & XERO Accounting, shedding light on the similarities and differences between Business Central and XERO.
Similarities
General Ledger | Yes | Yes |
Invoicing | Yes | Yes |
Accounts Payable | Yes | Yes |
Accounts Receivable | Yes | Yes |
Financial Reporting | Yes | Yes |
Bank Reconciliation | Yes | Yes |
Multi-Currency Support | Yes | Yes |
Project Management Capability | Yes | Yes |
Sales CRM Capabilities | Yes | Yes, Generate sales quotes, store and track contacts |
Operations, inventory and warehouse management | Yes, with other Microsoft Tools | Yes, with various third-party integrations |
User-Friendly Interface | Yes | Yes |
Remote Accessibility | Yes | Yes |
Licensing | Subscription-based | Subscription-based |
Data Analysis | Seamlessly integrated with Power BI for rapid report generation and ersonalized dashboards. | Yes |
Device | Any device | Any device |
Differences
Functionality | Manages supply chain, manufacturing, etc., in addition to finance operations | Primarily focused on accounting and financial management. |
Scalability | Caters to the complex needs of growing businesses. | Suitable for small and mid-sized businesses. |
Cloud-based or on-premises | Both | Cloud only |
Artificial Intelligence | Yes | No |
Supply Chain Management | Yes | No |
Service Management | Yes | No |
Manufacturing | Yes | No |
Office 365 Integration | Seamless integration with Office 365 Applications | Limited Integration |
Automation and Custom Applications | Yes, Using Microsoft Power Platform | No |
Transactions | No limit | 4000 pm |
Pricing & Licensing
Parameters | Business Central | XERO Accounting |
Latest Version | Dynamics 365 Business Central | XERO Accounting |
Pricing | Essential- $104.80 per user/month | Starter – $27 |
Users | A user can obtain licensing for one of the following licensing options. Dynamics 365 Business Central Essentials
Dynamics 365 Business Central Premium Service Order Management and Manufacturing in addition to all the features of Business Central Essential. Dynamics 365 Business Central Team Member It grants restricted access to specific data and functionalities in Business Central deployments, allowing for read-only capabilities. | A user can obtain licensing for one of the following licensing options. Starter
Standard
Premium
|
Why Business Central is the Right Choice?
Business Central stands out as an ideal accounting solution due to its extensive set of features and capabilities that cater to the diverse needs of a business. Unlike XERO Accounting, which primarily deals with financial operations, Business Central takes a more comprehensive approach to business management.
Business Central entails the seamless integration of finance, sales, customer service and other aspects of the business into a real-time unified platform. Let's look at the pivotal factors in choosing Dynamics 365 Business Central over XERO Accounting.
User-Friendly Experience
The user-friendly interface of the Microsoft Dynamics 365 Business Central application provides users with a native app-like experience. This experience makes the applications easy to learn and use, eliminating the exhaustive training sessions needed by XERO Accounting Solutions.
Easy User-Adoption
Business Central seamlessly integrates with the familiar Microsoft 365 suite of applications, including Outlook, Teams, Excel and PowerPoint, and Microsoft Power Platform. This integration facilitates smoother user adoption while ensuring security with its robust security features.
Highly Flexible
Business Central's flexibility shines through its ability to undergo customisation, allowing it to adapt seamlessly to businesses' unique and specific requirements for precise workflows, enhanced productivity and optimised efficiency.
Scalability
As already discussed, Business Central offers scalability to accommodate the needs of growing businesses. Because regular updates from Microsoft ensure its features stay updated with the latest technology advancements to cater to evolving business requirements.
The Role of Dynamics Square
Dynamics Square stands out as the top preference when it comes to selecting a Microsoft Dynamics 365 Partner, empowering Australian businesses to achieve unprecedented success. For 15 years, we have specialised in Microsoft Dynamics 365 solutions, mastering their capabilities to tackle any industry challenges effectively.
Our team consistently help businesses stay relevant in a constantly evolving digital landscape through 24/7 support services and in-person product training. The strong core team with more than 100 Microsoft-certified professionals follow a strategic implementation process to ensure project success.
If you are eager to move forward with a personalised, quick-start package for Dynamics 365 Business Central or are seeking a prompt quote for Business Central, we invite you to reach out to our team at Dynamics Square.
Frequently Asked Questions
1. What size of business can use Business Central?
2. What size of business can use XERO Accounting?
3. Which is the best, Business Central or XERO?
4. What is the best accounting software for small businesses in Australia?
5. Is XERO a platform or a software?
6. What is the difference between on-premise and online deployment of Business Central?
7. Does the XERO free trial grant access to all of its features?
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Dynamics Square is the leading Microsoft Dynamics 365 partner in Australia known for its futuristic solutions and unmatched customer service. Consult our experts, who know the nerve of the industry to transform your business today.
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