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

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.

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.

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.

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.

Only integrates with apps that already connect with Xero.

Only integrates with apps that already connect with QuickBooks.