Choosing the right accounting software is critical for Saudi businesses navigating complex financial regulations, VAT compliance, and the fast-growing digital economy. At EDA Wealth, we specialize in guiding businesses toward financial clarity and success through expert advisory and cloud-based bookkeeping. In this blog, we’ll compare three of the most popular accounting tools — QuickBooks, Xero, and Wave — with a special focus on their usability, pricing, compliance, and ideal use cases in the Kingdom of Saudi Arabia (KSA).
🧾 QuickBooks: The All-Rounder for Growing SMEs
Overview:
QuickBooks by Intuit is a globally recognized accounting platform offering extensive features for small and medium enterprises. It is especially powerful in terms of integrations and automation, making it an excellent choice for growing businesses.
✅ Pros:
- VAT-Compliant Templates: Supports Saudi VAT configuration, helping businesses stay compliant with ZATCA regulations.
- Robust Reporting: Offers advanced financial reports ideal for performance analysis.
- Multiple Integrations: Works seamlessly with payment gateways, CRM systems, and payroll software.
- Scalable: Suitable for businesses that plan to scale operations.
❌ Cons:
- Subscription Cost: More expensive compared to other options.
- Complex for Beginners: May require training for users unfamiliar with accounting.
💰 Pricing:
Starts at $30/month for the Simple Start plan; higher-tier plans go up to $90/month. Prices may vary for the Saudi market due to exchange rates and third-party providers.
🇸🇦 Usability in Saudi Arabia:
QuickBooks supports Arabic-language invoices, multi-currency accounting (including SAR), and is generally compatible with ZATCA e-invoicing requirements when integrated correctly.
👔 Best For:
- SMEs with revenue over SAR 500,000/year
- Businesses needing advanced financial tracking and tax compliance
📊 Xero: The Cloud-Native Option for Tech-Savvy Teams
Overview:
Xero is another cloud-based accounting solution known for its sleek design and user-friendly interface. Its open API makes it a favorite for businesses wanting customization and automation.
✅ Pros:
- Cloud-First Design: Real-time access to financials across devices.
- Third-Party Ecosystem: Connects with over 800+ business apps.
- User-Friendly Dashboard: Intuitive interface for non-accountants.
- Payroll Support: Though not yet localized for KSA, global features are solid.
❌ Cons:
- Lack of Direct Saudi VAT Templates: May need customization for local compliance.
- Limited Local Support: No official office or Arabic-language customer support in the region.
💰 Pricing:
Starts at $13/month for the Starter plan and goes up to $70/month. Add-ons for project tracking and multi-currency are extra.
🇸🇦 Usability in Saudi Arabia:
Xero does not natively support ZATCA e-invoicing, but third-party add-ons and consultants can bridge the gap. It’s a good fit for tech-savvy entrepreneurs comfortable customizing their tools.
👔 Best For:
- Startups and online businesses
- Companies needing cloud-based bookkeeping with automation
💵 Wave: The Budget-Friendly Option for Freelancers and Microbusinesses
Overview:
Wave offers free accounting software, making it attractive for freelancers and very small businesses. It handles basic accounting functions with ease but lacks many of the features needed for VAT compliance in KSA.
✅ Pros:
- 100% Free Core Accounting: Includes income tracking, expense management, and invoicing.
- Simple Interface: Easy to use, even for non-accountants.
- Basic Reporting Tools: Great for small operations needing simple oversight.
❌ Cons:
- No Native Saudi VAT Support: Users must manually adjust for ZATCA compliance.
- Limited Scalability: Not ideal for growing businesses or complex operations.
- Customer Support: Limited unless you purchase optional add-ons.
💰 Pricing:
Core features are free. Payroll, payment processing, and live support are available as paid services.
🇸🇦 Usability in Saudi Arabia:
Wave is not compliant out-of-the-box with Saudi VAT laws or e-invoicing mandates. It may be suitable only for informal businesses or freelancers who don’t cross ZATCA thresholds.
👔 Best For:
- Freelancers and sole proprietors
- Small side businesses not yet under mandatory VAT filing
🌐 At EDA Wealth: Your Partner in Smart Accounting Software Implementation
At EDA Wealth, we don’t just recommend software — we ensure it works for you. Our expertise in accounting software implementation helps Saudi businesses stay compliant, efficient, and ready to scale.
We also offer:
- Strategic forecasting and financial modeling
- Custom VAT-compliant invoice templates
- Real-time dashboards for financial performance
- AI-enhanced analytics for decision-making
✅ Final Verdict: Which Software Should You Choose?
| Software | Best For | Saudi VAT Support | Starting Price | Scalability |
|---|---|---|---|---|
| QuickBooks | SMEs & growing businesses | ✅ Strong | $30/month | High |
| Xero | Startups & online businesses | ⚠️ Partial | $13/month | High |
| Wave | Freelancers & microbusinesses | ❌ Limited | Free | Low |
If you’re not sure which tool fits your business model, or you need help setting up your accounting systems to be ZATCA-compliant and scalable, contact us today. Let EDA Wealth be your partner in financial clarity and growth.
📚 Further Reading:
- Understanding ZATCA’s E-Invoicing Mandate (ZATCA.gov.sa)
- Cloud-based Bookkeeping Solutions
- Accounting Software Implementation for Saudi Businesses
EDA Wealth: Your trusted partner in financial strategy, insight, and compliance.