SoftLedger solves multi-entity, multi-currency accounting with a 95% implementation success rate

Implementations

ERPs

SoftLedger

Success rate

25% - 50%

NetSuite estimates 50% of their implementations fail the first time

95%

Most customers successfully adopt SoftLedger

Failure rate

50% - 75%

NetSuite estimates 50% of their implementations fail the first time

<5%

Most customers successfully adopt SoftLedger

Length

6 - 12+ months

Months to a year, but no one really knows

<30 days

Most new customers close their books on SoftLedger within 30 days

Function

SoftLedger

Intacct

NetSuite

Multi-entity

Roll up your financials or see data for any entity level, at any time.

Each journal entry is immediately consolidated. Reports are updated in real-time, based on transactions coming into the system.

Use multi-entity out of the box — no add-ons.

Handles multi-entity pretty well. You can manage all your entities from one account and do instant multi-entity consolidations.

Your base subscription includes 1 legal business entity. Additional entities cost an extra fee.

Expect to pay ~$20K/year or more.

Entities work as separate pieces and can’t be easily rolled-up without running a consolidation.

Setting up new entities requires help from IT or NetSuite’s support services.

Pay for NetSuite OneWorld ($1,999/mo) to support multi-entity. Each additional country costs $799/month.

Multi-currency

Automatically pulls exchange rates with every transaction, giving you a consolidated view at any time during the month instead of waiting until month-end close.

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

Unlimited currencies at a fixed price.

Pulls exchange rates from a private company in the trading space.

Alternatively, you can define monthly exchange rates that you can control.

Expect to pay ~$5K/year for this.

Updates currency exchange rates one time every day, for all NetSuite accounts.

Pay for NetSuite OneWorld ($1,999/mo) to support multi-currency. Each additional currency costs $799/month.

Crypto & digital assets

Automates all your cryptocurrency transactions, across multiple wallets and exchanges.

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

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

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

Integrations

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. Using the API might require help from a developer, but they don’t need specific knowledge on SoftLedger to create native integrations in a few days.

Offers both an API and marketplace.

Typically requires finding a consultant with specific coding knowledge and outsourcing integrations to 3rd party providers. Building integrations can take weeks or months.

Offers both an API and marketplace.

Typically requires finding a consultant with specific coding knowledge and outsourcing integrations to 3rd party providers. Building integrations can take weeks or months.

Offers both an API and marketplace.

Contract length

Annual plans.

Annual plans.

Annual plans.

NetSuite increases prices each year (5% to 10% each time). Every year you renew your licenses, your subscription cost goes up, unless you choose a 3 or 5 year contract.

SoftLedger

Intacct

NetSuite

Annual subscription

Base fee to access the product

$500/mo to $1,375/mo based on your plan

$86/mo per user (starting price)
$15,000 to $35,000 per year on average

$999/mo platform fee (starting price)
$99/mo per user

Add-ons subscription

Modules not included out-of-the-box

$10 /mo to $250/mo

$250/mo to $850/mo on average

$599/mo to $1,999/mo for each add-on

Implementation cost

Pay the vendor or 3rd party consultants to get you up and running

$0

1 to 1.5X of your annual subscription

$15,000 to $25,000 for 10 to 15 users

Customization cost

Develop specific functionalities or personalize reports

Flat fee scoped in advance

$30 to $250 per hour, based on consultant’s location

$30 to $250 per hour, based on consultant’s location

Integration cost

Connect the tool to other systems

$2,500 to $5,000 per integration

$3,000 to $8,000 for average integrations

$5,000 to $10,000 for average integrations

Ongoing support

Help with issues and other tasks

Included with your subscription

~$1,000/mo for an Intacct partner

~$2,000/mo for a NetSuite partner

Human resources cost

Hire experts to admin the tool

$0 — No admin needed

$45,000 to $70,000 a year for a Junior Intacct Administrator

$62,000 to $98,000 a year for a Junior NetSuite Administrator