Both Square and QuickBooks offer a lot of services and are competing to become the all-in-one business software of choice. Find out which is best for you.
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Square | QuickBooks | |
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Ideal For | Small-to mid-sized businesses | Businesses with strong accounting needs |
Base Monthly Pricing | $0/month with advanced tiers and add-ons available | $30-$200/month |
Payment Processing Cost |
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Products Offered |
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Biggest Advantages | Free Intuitive interface All-in-one platform App Marketplace | Simple pricing Robust features Intuitive card reader |
Biggest Disadvantages | Fund holds Some features lacking | No eCommerce Sketchy customer support High per-transaction fees |
What’s Next | Visit Site Read Review | Visit Site Read Review |
Table of Contents
- Square VS QuickBooks At A Glance
- Do I Need QuickBooks If I Have Square?
- Square VS QuickBooks Pricing
- Square VS QuickBooks Features
- Which Is Better For My Business: QuickBooks Or Square?
- Square VS QuickBooks Comparison: The Bottom Line
- QuickBooks VS Square FAQs
Square VS QuickBooks At A Glance
In this Square vs. QuickBooks comparison, you’ll find that each provides a full slate of tools for business owners of all sizes. QuickBooks relies primarily on third-party providers, while Square focuses mainly on proprietary in-house services and features. Both provide basic and great credit card processing services and a range of hardware options for accepting payments.
Square is best known for its mobile processing system, which combines a tablet/smartphone app with a small card reader to offer the same transaction processing capability as a traditional countertop credit card terminal. QuickBooks has a similar system called QuickBooks GoPayment.
Square Overview
Pros
- All-in-one system
- Access to the app marketplace
- Intuitive interface
- Free options available
Cons
- Occasional fund holds
- Need an advanced plan for 24/7 customer service
Square stands apart from most traditional providers in that it has always primarily focused on meeting the needs of small and newly established businesses. The company is best known as a payment processor offering simple, competitive rates for small businesses.
Merchants signing up for Square today will discover a broad range of products and services that goes way beyond just credit card processing. Even with a free account, you’ll have access to Square Invoices, Square Inventory, Square Online Store, the Square App Marketplace, and other services, such as gift cards and loyalty.
Square also has a variety of software and hardware options to suit your establishment.
See All Square Products
- Square free POS
- Square for Retail
- Square for Restaurants
- Square Appointments
- Square Terminal
- Square Register
- Square Cash App
QuickBooks Overview
Pros
- QuickBooks integrations
- Mobile card reader
- Affordable processing
Cons
- Costs can add up
- No built-in eCommerce
- Limited POS app
While QuickBooks is best known as an industry-leading small business accounting software package, Intuit also offers QuickBooks Payments for users who need a merchant account for credit card processing.
Like most merchant services providers, QuickBooks Payments includes various products and services to help you run your business, such as credit and debit card payment processing, QuickBooks GoPayment mobile processing app, and QuickBooks Invoicing.
QuickBooks has multiple software plans and accompanying services as well to round out its small business suite.
See All QuickBooks Products
- QuickBooks Desktop
- Intuit Online Payroll
- QuickBooks Checking
- QuickBooks Online
- QuickBooks POS
- QuickBooks Self-Employed
- QuickBooks Payments
What’s The Difference Between Square & QuickBooks?
There’s certainly some overlap between Square vs. QuickBooks Payments. For instance, both offer a basic, low-cost solution to accept credit and debit cards and keep tabs on your business. However, one major difference between these two providers is that QuickBooks Payments offers a full-service merchant account rather than the aggregated accounts available with Square.
While merchant accounts require more time and paperwork to set up, they provide better account stability than aggregated accounts. That means you’re far less likely to have your account suddenly frozen or shut down than you are with a payment service provider such as Square.
Both providers also have other differences in the products and services they offer. For the most part, Square offers proprietary services that can only be used with a Square account. On the other hand, QuickBooks Payments places a little more emphasis on integrating services from third-party providers.
Both QuickBooks & Square Offer…
- Acceptance of all major credit/debit cards
- Magstripe/EMV/NFC and online payments and ACH transfers
- Point of sale platforms accepting multiple payment types
- Mobile card readers
- Invoicing plans
- Add-on payroll functionality
- Recurring billing
Only Square Offers…
- Built-in eCommerce
- Intuitive hardware
- Cash payment support
- Expansive app marketplace
- Full QR payment support
Only QuickBooks Offers…
- Full-service merchant account
- Built-in accounting
- Better rates for high-volume sellers
Do I Need QuickBooks If I Have Square?
Square has a very deep feature set with tons of products and services either included in a base subscription plan or available as add-ons. It does not come with its own accounting platform, however.
Square does integrate with QuickBooks, but it also integrates with multiple third-party accounting programs, so you can choose the best one for your individual needs.
Square VS QuickBooks Pricing
Square | QuickBooks | |
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Payments |
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Card Reader | $49 for a chip reader | $49 for a chip reader |
POS | Free with higher tiers available | $30-$200/month |
Payroll | $35/month + $5 per employee | $45-$125/month + $5-$10 per employee |
Invoicing | 2.9% + $0.30 per online transaction | 2.9% + $0.25 |
Banking | No monthly fee | No monthly fee |
Capital | Custom rates | Custom rates |
One of the bigger differences between Square vs. QuickBooks is their pricing structures. Square’s pricing offers free versions of its main software plans, Square POS, Square for Retail, Square for Restaurants, and Square Appointments. It also has paid monthly plans with additional features if your business needs advanced inventory or reporting, for example, and those run between $29 and $60/month.
Square’s processing rates are transparent and competitive but can add up for high-volume sellers. Square also has add-ons that you can purchase, such as Square Payroll and its loyalty and gift card features.
QuickBooks POS is considerably more expensive upfront, but its fees are one-time-only and range from $1,200 to $1,900. Its processing fees are similar to Square’s but are tailored to higher-volume sellers. QuickBooks Online software runs between $30 and $200/month, and you can also add payroll for an additional fee.
QuickBooks pricing is a little more intensive upfront, but if you’re planning on using it long-term and selling at a high volume, it can be cost-effective.
Is Square Or QuickBooks Cheaper?
Square and QuickBooks both offer good value for what they provide. Square caters more to small and mid-sized businesses that may not have a lot of upfront capital. Square also allows individuals to choose the features they plan on using that are within their budget.
QuickBooks gives you more of what you need initially and comes with a deeper feature set overall while also allowing you to add additional services, such as payroll.
- QuickBooks processing is cheaper for high-volume merchants
- Square Payroll is cheaper than QuickBooks but with fewer features
- Square Invoice is cheaper than QuickBooks Online if you only need invoicing services
Square VS QuickBooks Features
Square | QuickBooks | |
---|---|---|
Payments | ||
Card Reader | ||
Payroll | ||
POS | ||
eCommerce | ||
Website | ||
Email Marketing | ||
Invoicing | ||
Accounting | ||
Banking | ||
Capital |
Square and QuickBooks both offer generous feature sets with the option of adding additional services, making them highly scalable products. Square can be used simply for its payment processor but also has one of the most affordable and intuitive POS systems around.
Square offers free plans with all of its software plans and includes basic inventory management and reporting. Square’s hardware offerings are also generous, starting with its free magstripe reader and ranging up to its all-in-one POS and processor Square Register. Through Square’s App Marketplace and its wide variety of services, you can make it whatever you want. Square comes with a free online store for eCommerce and has payroll and invoicing functionality for added monthly fees. Square also has the option to use Square Cash App for person-to-person transactions like Venmo or PayPal.
QuickBooks is best known for its robust accounting platform to which payroll can be added if your company needs it. Its POS software is also solid, albeit a bit expensive initially. But you get deep features, including invoicing and advanced marketing tools. QuickBooks also offers a free business checking account with no balance minimums. QuickBooks has hardware bundles available for purchase and its own card reader.
For more details on each of these vendors, some good places to start are our Square credit card processing review and the product reviews linked under the Square and QuickBooks overview sections.
Square Payments VS QuickBooks Payments
Square | QuickBooks | |
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Payment Processing Rates |
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Monthly Fee | $0 for a basic account | $30 for a basic account |
Type Of Payment Processor | Payment service provider | Merchant account provider |
POS Software | Full slate for a variety of industries | Limited mobile POS platform |
Contract Length | Month-to-month | Month-to-month |
Free Card Reader | Magstripe only |
While Square’s flat-rate processing fees have gotten a little more complicated over the years as the company has added numerous options and features, it’s still pretty simple.
Here is what Square charges:
- 2.6% + $0.10 per swiped, dipped, or tapped transaction
- 2.9% + $0.30 per online transaction (including invoices)
- 3.5% + $0.15 per manually keyed-in or card-on-file transaction
Unless you sign up for one of Square’s paid add-on services, there is no monthly account fee. Square also doesn’t charge for PCI compliance and is just about the only provider we’re aware of that doesn’t impose a chargeback fee.
Like Square, QuickBooks Payments also relies on flat-rate pricing to keep things simple and predictable. However, it uses a more complicated rate schedule than Square, depending on which QuickBooks service you’re using and whether you’ve opted for a pay-as-you-go plan or a monthly subscription plan. Rates for users of QuickBooks Online or the GoPayment mobile app are as follows:
- Swiped/Dipped/Tapped: 2.4% + $0.25 per transaction
- Invoice Payments (Includes PayPal & Apple Pay): 2.9% + $0.25 per transaction
- Manually Keyed-In: 3.4% + $0.25 per transaction
These rates are very similar to what Square charges, although the hefty $0.25 per transaction authorization fee will make QuickBooks Payments more expensive if you process a lot of small-ticket transactions. You can choose between the standard, pay-as-you-go plan ($0 per month) or the $20/month subscription plan, which offers slightly lower processing rates than those listed above.
PCI compliance is an optional add-on under the pay-as-you-go plan ($9.95/month) but is included as part of your monthly fee under the subscription plan. QuickBooks Payments also charges several incidental fees, including a $25 chargeback fee, a $25 ACH/bank reject fee, and a $10 returned check fee.
Square POS VS QuickBooks GoPayment
Square | QuickBooks | |
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Reporting | ||
Inventory | ||
eCommerce | ||
Robust Integrations | ||
Proprietary Hardware | ||
Accounting | ||
Loyalty | ||
Pricing | Free |
Square POS is a feature-rich and cost-effective solution for small businesses and some larger niche businesses as well. Square has virtually every industry covered in some capacity and includes basic reporting and inventory management along with the option to add more advanced features, such as gift cards and loyalty. Square also has intuitive hardware and an enormous app marketplace for integrations.
QuickBooks GoPayment is still a work in progress, but it does cover some of the basics well. QuickBooks’ POS platform allows you to accept both card and cash payments. The mobile app connects directly with QuickBooks’ card reader and syncs up with QuickBooks’ other software, making it an acceptable choice if your POS needs aren’t that elaborate.
Square Email Marketing VS Intuit Mailchimp
Square | QuickBooks | |
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Text Message Campaigns | ||
Templates | ||
Dashboard | ||
Customer Directory | ||
Google Reviews | ||
Analytics | ||
Pricing | $15-$425 | $0-$299 |
Square has built-in email marketing that allows you to easily enter and pull up customer email addresses and information. It also makes it easy to sort customers and target them in various ways to lure more business. Furthermore, it comes with easy-to-use templates and customization options depending on your client base. Square also allows for automated marketing campaigns and analytics to track their success.
Intuit’s purchase of Mailchimp bolstered its marketing ability. This integration with QuickBooks now gives it an impressive array of features to help you reach your customers, including professional templates to help you get started, content optimization, and the ability to send emails based on your customers’ internet behavior and interactions. It also comes with in-depth reporting and analytics to make sure you’re getting the most out of your marketing and tools to help find new customers.
Square Invoices VS QuickBooks Online
Square | QuickBooks | |
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Pricing | $0-$20/month | $0-$20/month |
Item List | ||
Real-Time Tracking | ||
eSignatures | ||
Estimates | ||
Templates | ||
Dashboard |
QuickBooks and Square offer invoicing as part of your account at no additional cost. You can generate and send invoices via email, text message, or weblink with either service. Customers can pay via the payment link, QR code using their credit/debit card, or ACH transfer. Both services also support recurring billing and installment payments.
With decades of focus on small business accounting, QuickBooks’ invoicing feature vs. Square’s is more polished and offers more robust customization options. Square’s invoicing feature is rather basic and doesn’t have as many customization features. However, it is truly free, whereas, with QuickBooks, you’ll need a monthly QuickBooks Online subscription to access its invoicing feature.
Square Payroll VS QuickBooks Payroll
Square | QuickBooks | |
---|---|---|
Pricing | $35/month + $5 per employee | $75-$160/month + $5-$8 per employee |
PTO Tracking | ||
Automated Tax Payments | ||
Direct & Manual Pay Options | ||
Time Tracking | ||
Benefits Deductions | ||
Unlimited Runs | ||
HR Support | ||
All 50 States |
Both Square and QuickBooks offer payroll services as a paid add-on to your basic account. Because both companies market primarily to small business owners, these services are somewhat rudimentary. While they should be fine for managing a small company with relatively few employees, they might be inadequate for a large company with many employees and more specialized needs.
Square’s payroll service vs. QuickBooks’ Core Payroll plan is significantly less expensive, but they generally include the same features. On the other hand, QuickBooks’ payroll pricing offers more expensive plan options that add on a ton of extra features and benefits. QuickBooks will be the better choice if you have a larger company and can afford to pay extra for a more fully-featured payroll service.
Square Banking VS QuickBooks Cash
Square Banking | QuickBooks Cash | |
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Rates & Fees | No monthly fee 1.00% APY | No monthly fee 1.25% APY |
Savings Account | ||
Debit Card | ||
No Overdraft Fee | ||
Checking Account | ||
Instant Deposit |
Both Square and QuickBooks have recently begun to offer banking accounts and other financial services that you’d typically find at a traditional bank.
With Square Banking, you can open an account with no initial deposit, and there’s no minimum balance requirement. Square doesn’t charge monthly fees to maintain your account, and there isn’t even an overdraft fee. Square Banking offers checking and savings accounts, with the latter currently paying an APY of 1.00%. Best of all, these accounts integrate directly into your Square account, allowing you to monitor and access your funds right from your Square Dashboard.
QuickBooks Cash also offers a business banking account that’s free to open and doesn’t require a minimum balance. While the company advertises a claim of “no monthly fees or account minimums” on its webpage, a small-print footnote reveals that there are, in fact, other fees and limits that will apply and are listed in your Deposit Account Agreement. These are most likely incidental fees, such as for overdrafts or foreign transactions. QuickBooks Cash is currently paying a 1.25% APY. As you would expect, QuickBooks Cash transactions automatically sync with your QuickBooks Online account.
Square Capital VS QuickBooks Capital
Square Capital | QuickBooks Capital | |
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Rates & Fees | Custom | Custom |
Credit Check | ||
Early Pay-Off Fee | ||
Proof Of Earnings Required | ||
Loans Over $200K | ||
Easy Application Process |
Both Square and QuickBooks are now in the loan business as well. Square Capital offers loans from $300 to $250,000 and uses a flat fee. The application process is simple, and the rates are easy to understand; plus, there’s no credit check required.
QuickBooks offers loans from $5,000 to $150,000. The company looks at your credit, and you need to show proof of earning at least $50,000 in the past year. You can apply directly through QuickBooks, and the interest rate terms are laid out in a simple fashion to help you understand exactly what it will cost to pay back the loan. There is no penalty for early payments either.
Square Integrations VS QuickBooks Integrations
Square doesn’t offer its own accounting software, but it does integrate with both QuickBooks and Xero. Here, the company basically acknowledges the reality that QuickBooks has an insurmountable lead in terms of market share, and it’s unlikely that many existing Square users would want to give it up for a proprietary QuickBooks product.
The only downside to using QuickBooks for your bookkeeping and Square for payments is that it introduces a monthly fee into Square’s pay-as-you-go pricing model. Doing so might not be a good choice for a seasonal business or one looking to keep operating expenses to an absolute minimum.
QuickBooks Payments also prefers to keep everything in-house as much as possible, with very little in the way of third-party integrations. The main exception is eCommerce, which has never been the company’s strongest area. For optimal QuickBooks integration, you can choose either BigCommerce or Shopify. Support for UltraCart and WooCommerce is also available but may not be quite as seamless.
Square Card Reader VS QuickBooks Card Reader
Square’s magstripe and reader for contactless and chip payments are used by thousands of small businesses. You can get a magstripe reader for free when you sign up for a Square account, and the reader for contactless and chip is $49. QuickBooks’ card reader is also $49, and you can purchase a power stand for the device for $39 or, if you purchase them together, you pay $79 through the Quickbooks website.
Both devices take EMV chip, debit, and credit payments along with Google Pay and Apple Pay. Both are durable and versatile and sync up with nearly all other forms of Square or Quickbooks software and hardware as well. Both can also connect wirelessly to either Apple or Android devices and can be easily set up for Bluetooth connections.
Square Shifts VS QuickBooks Time
Both Square and QuickBooks have strong employee management functionality. Square Shifts has a free plan for up to 10 members or an advanced management plan for $4/month per team member. Square Shifts allows businesses to prep for payroll, schedule shifts, and include labor cost reporting. It also has automatic timecards and commission reporting for tips.
QuickBooks Time charges $20/month plus $8/month per user, but its features are a bit more advanced and comprehensive. Employee shifts can be monitored and managed remotely. Shifts can be easily transferred, and employees can be automatically alerted to changes. It also easily syncs up with QuickBooks’ other software, making it a simple add-on feature.
Which Is Better For My Business: QuickBooks Or Square?
Square has been the provider of choice for many small businesses in recent years, and with its ever-expanding lineup of services, it’s very close to being a one-stop shop for all your business needs.
This success has drawn a lot of competitors, most of which have never been willing to break completely free of the processing industry’s bad habits. In contrast, QuickBooks Payments is a worthy alternative to Square and may, in fact, be the better option in some cases.
Here are some guidelines to consider in choosing between these two platforms:
Choose QuickBooks If…
- You already use QuickBooks and want to add credit card processing without additional fees
- You want a stable, full-service merchant account
- You want all of your merchant services to integrate with QuickBooks Online seamlessly
- You’re in a professional services industry and collect most payments through invoices
- You process over $7,500 per month and want to negotiate a custom processing rate plan
Choose Square If…
- You already have a Square account and are satisfied with its pricing and features
- You run a seasonal business and don’t want to pay any fees during your downtime
- You run a small online business and don’t need a fancy eCommerce platform
- You’re in retail and need a strong inventory management system
- You’re in the restaurant business
Can You Use QuickBooks & Square Together?
QuickBooks and Square each integrate with each other, so you can absolutely use them in conjunction with the other. QuickBooks and Square integrations can help bolster the other’s services.
Square’s accounting services are lacking, so if you need in-depth reporting and analytics, using the QuickBooks integration can be very valuable. Likewise, you may be happy with QuickBooks and may have been using it for years to do your books, but if you want to add payment processing or a point of sale system to your small business, Square could be the right choice.
Choose QuickBooks & Square If…
- You want simple processing to go along with robust accounting
- You use QuickBooks and want an affordable POS
- You want a free online store with excellent bookkeeping
- You have a food service establishment with in-depth accounting needs
Square VS QuickBooks Comparison: The Bottom Line
Square and QuickBooks are two of the most recognizable names in the payments industry. So when it comes to Square vs. Intuit, which comes out on top for your business?
While Square is known mostly for opening up credit card acceptance to thousands of small businesses that previously couldn’t afford it, QuickBooks has been one of the industry’s most popular small business accounting services for decades.
QuickBooks is the clear winner for your bookkeeping needs, with Square not even trying to offer a competing service. In fact, many business owners will find that using QuickBooks for accounting and Square for credit card processing and everything else will be a winning combination. At the same time, there are distinct advantages to having a full-service merchant account, and QuickBooks Payments is one of the few providers that offer one with no monthly fee or long-term commitment.
At the same time, eCommerce is clearly QuickBooks’ Achilles heel, and other QuickBooks alternatives meet this need. While it’s true that the monthly fees for Shopify or BigCommerce will add up to more than this amount after a few years, both of these platforms offer more features and constantly upgrade to introduce new capabilities and integrations.
With both contenders offering minimal fees and nearly identical flat-rate pricing, most businesses won’t see a significant overall price difference between them. Whether QuickBooks vs. Square will be the better choice will mainly come down to which of the two companies offers the better features your business needs to grow and thrive.
QuickBooks VS Square FAQs
What is the difference between Square and QuickBooks?
Square provides all-in-one software for small businesses, including payment processing and a complete point of sale platform, while QuickBooks has strong accounting and payroll functionality.
Does Square work with QuickBooks?
Square integrates with QuickBooks, and Square users can use QuickBooks for their accounting needs.
Is Square Payments vs. QuickBooks Payments better?
Both Square and QuickBooks offer solid payment processing, with Square providing upfront rates, but its fees can add up for high-volume sellers.
Is Square cheaper than QuickBooks?
Square is generally more affordable with its POS and payroll platforms, but QuickBooks has better features for accounting and payroll.
Can Square be used instead of QuickBooks?
Square can be used for a wide variety of small business needs, but it does not have its own accounting platform and integrates with other companies, including QuickBooks.
Does QuickBooks integrate with Square?
QuickBooks and Square can each integrate with the other and can sync info, so they can certainly be used together.
Do I need QuickBooks if I have Square?
You don’t need QuickBooks if you are using Square, but it’s worth considering integrating the two since QuickBooks not only has the accounting side covered, but it also has a wealth of other services that you can take advantage of, including payroll, point of sale, and payment processing.
How do you connect Square with QuickBooks
If you already have a QuickBooks and Square account you can download the Square App through QuickBooks’ app store. Select Get Started and then give permission in the app to sync data between Square and QuickBooks. This will allow you to sign into your Square account and select the locations you want to transfer data from. After selecting Next, you will be able to choose transactions you want to enter into QuickBooks