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SoftLedger is the accounting tool for multi-entity, multi-currency businesses


QuickBooks and Xero do a great job helping small business owners run their own books. But they’re quickly outgrown when businesses acquire other companies or expand into new countries.

When someone with accounting experience takes over bookkeeping, they become hostage of a tool that forces manual processes, introduces potential for errors, delays closing of books, and distracts the finance team from adding strategic value.

  • Consolidation has to be done in Excel
  • Using multiple currencies messes up your books
  • A different instance is needed for each business entity
QuickBooks and Xero do a great job helping small business owners run their own books. But they’re quickly outgrown when businesses acquire other companies or expand into new countries. When someone with accounting experience takes over bookkeeping, they become hostage of a tool that forces manual processes, introduces potential for errors, delays closing of books, and distracts the finance team from adding strategic value.
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“We maintain multiple entities in the United States and Africa, and the ability to consolidate across all companies has been crucial. We can schedule real-time entries from our core banking system and generate reports on the fly as we scale.”



Brian Dempsey, CEO & Founder - Power Financial Wellness

“You can enter all your different entities as locations, keep their individual books separate, and combine them as necessary for rolled-up reporting needs. Being able to do this all on one accounting profile cuts down on software costs and the complication of multiple accounts needed to keep different entities' books separate.”
Clayton Scherrer, CFO - Ecogy Energy

“We love how intuitive SoftLedger is. If you have ever used an accounting system, you can simply come in and pick it up. It’s not lacking any functionality and it’s so easy to understand.”




Lynsey Copping, CFO - Matrix Exchange

Why pick SoftLedger over QuickBooks & Xero

Function

SoftLedger

Xero

QuickBooks

Multi-entity

Set up your multi-entity organization in minutes, then use the location picker to roll up your financials or see data at any level, at any time.

Each journal entry is immediately consolidated. Reports are updated in real-time. It doesn't even have to be the end of the month — you can always see the full picture.

*Click image to enlarge

Doesn’t naturally solve for multi-entity businesses, so you need multiple QuickBooks instances — one for each entity. Export data from each instance to Excel to run consolidations, increasing your workload and risking human error.

Doesn’t naturally solve for multi-entity businesses, so you need multiple QuickBooks instances — one for each entity. Export data from each instance to Excel to run consolidations, increasing your workload and risking human error.

Multi-currency

Automatically pulls exchange rates for every transaction from OpenExchangeRates.org*.

Create entries in any currency, then see the data in the currency of the entity you’re reporting on.

Manage unlimited currencies for any of your entities.

*Click image to enlarge

You need to pay for Xero’s highest plan to use multi-currency.

If you downgrade at any point, you won’t be able to translate your Balance Sheet, Budget Variance or Profit and Loss report to other currencies. If you have draft or custom reports in a foreign currency, these will convert back to your base currency.

The way QuickBooks handles multi-currency is not accounting friendly.

It creates entries that aren't real movements in order to balance currency fluctuations, which impact your financial statements.

If your company has multiple entities, it gets even more complicated, because of foreign currency fluctuation.

Crypto & digital assets

Automates all your cryptocurrency transactions across multiple wallets and exchanges. No need for add-ons or secondary tools.

SoftLedger is the first general ledger accounting software with a native module for crypto assets like Bitcoin, Ethereum, and others.

*Click image to enlarge

Xero doesn’t support crypto. Either pay for a secondary crypto tool and integrate with Xero or handle all your crypto accounting outside of Xero and then import it.

Xero says there aren’t many users who want to handle digital assets, so they can’t justify building this feature.

QuickBooks doesn’t support crypto. Either pay for a secondary crypto tool and integrate with QuickBooks or handle all your crypto accounting outside of QuickBooks and then import it.

QuickBooks had bitcoin buy and sell features but they discontinued it in late 2023.

Integrations

Connect with apps in our marketplace or use a low-code connector to set up integrations on your own. Requires no coding knowledge.

SoftLedger also offers an API for more complex integrations that might require help from a developer.

*Click image to enlarge

Only integrates with apps that already connect with Xero.

Only integrates with apps that already connect with QuickBooks.

Built for accountants, not business owners



QuickBooks and Xero are small business tools. They benefit from reaching a huge number of companies that are very simple to run: one entity, one currency, no need for in-depth reports. Accountants need more. They don't want something that hides away the complexity behind rounded buttons. They want a tool built to enhance their skills, not limit them. They want accuracy and control to manage a growing operation.

SoftLedger is the tool accountants, controllers, and CFOs choose when they’ve outgrown QuickBooks and Xero.
“The moment a company wants accurate bookkeeping, it has outgrown QuickBooks”

- Reddit User

"Best Crypto Accounting Solution, Hands Down"


David Flores, CFO - Bitwage

Migrate from QuickBooks with our data importer

Download your Excel or QuickBooks Online data to our template CSV and upload it to SoftLedger. That’s all you need to get started.

Need extra help getting to a beginning balance? Read our getting started guide or contact us for a white glove migration.

Grab this template to get started

Frequently Asked Questions

Yes, users have the option to use their own chart of accounts or SoftLedger’s standard chart of accounts when getting started with SoftLedger.  SoftLedger’s flexibility allows users to make changes to their charts by easily adding new accounts.

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