When do I need a bookkeeper or an accountant?

Bookkeeper: typically at $5-10k MRR or when you have more than a few transactions per week. Accountant: by year-end of your first year of revenue, no matter your size.

For pre-revenue and solo founders with <100 transactions/month, yes. Once you cross that, the time you spend in Wave starts to outweigh the paid alternatives.

Xero vs QuickBooks for a UK-based founder selling globally?

Xero almost always wins in the UK / EU / AU. The reporting is built around HMRC-style accounting, the bank-feed integrations are deeper for UK banks, and your accountant probably already lives in it. QuickBooks Online edges Xero in the US for the same reason in reverse. If you're UK-based selling globally, default Xero and use multi-currency from day one rather than retrofitting it later.

When does it make sense to outsource to Pilot or Bench?

When you have ≥$10k MRR and the founder is still doing the books on Sunday nights. The done-for-you bookkeeping at ~$500/mo is cheaper than the founder's time once the company has revenue worth defending. Below $5k MRR, the math doesn't justify it — you're better with Xero + a part-time bookkeeper at 5-10 hours/month.

Back to marketplace

Comparison · Finance

Best accounting software for startups

Q: Xero vs QuickBooks for a UK-based founder selling globally?

Xero almost always wins in the UK / EU / AU. The reporting is built around HMRC-style accounting, the bank-feed integrations are deeper for UK banks, and your accountant probably already lives in it. QuickBooks Online edges Xero in the US for the same reason in reverse. If you're UK-based selling globally, default Xero and use multi-currency from day one rather than retrofitting it later.

Q: When does it make sense to outsource to Pilot or Bench?

When you have ≥$10k MRR and the founder is still doing the books on Sunday nights. The done-for-you bookkeeping at ~$500/mo is cheaper than the founder's time once the company has revenue worth defending. Below $5k MRR, the math doesn't justify it — you're better with Xero + a part-time bookkeeper at 5-10 hours/month.

The right accounting stack at $0 MRR is different from the right stack at $1M ARR. Don't over-invest early; don't under-invest late. Editorial picks; no paid placement.

By Maya Okonkwo · Last updated May 21, 2026 · Editorial picks; no paid placement.

Who this is for

Founders setting up their accounting stack for the first time, or replacing what's not working.

Best overall

Xero (rest of world) / QuickBooks Online (US)

Best budget

Wave (free tier)

Best for solo

FreeAgent (UK) / Bench Done-For-You (US)

The tools

Xero

Free plan: 30-day trial · From $15/mo

Best for: Most UK / EU / AU / NZ startups

Pros

· Cleanest UI in the category
· Excellent bank reconciliation
· Strong app ecosystem

Cons

· Limited US market share
· Some tax tooling weaker than QuickBooks

QuickBooks Online

Free plan: 30-day trial · From $30/mo

Best for: Most US startups

Pros

· Industry default for US accountants
· Strongest tax tooling
· Universal accountant familiarity

Cons

· UI is dated
· Subscription pricing rises annually

Pilot

Free plan: No · From $499/mo

Best for: US startups who don't want to do bookkeeping themselves

Pros

· Done-for-you bookkeeping
· Tax filing included
· Common pick among US tech startups

Cons

· Expensive for very small businesses
· US-only

Wave

Free plan: Yes · From Free (paid add-ons)

Best for: Pre-revenue or very small businesses

Pros

· Genuinely free
· Good enough for solo founders
· Includes invoicing

Cons

· Limited integrations
· No multi-currency on free
· Future paid migrations are painful

Frequently asked questions

When do I need a bookkeeper or an accountant?: Bookkeeper: typically at $5-10k MRR or when you have more than a few transactions per week. Accountant: by year-end of your first year of revenue, no matter your size.
Is Wave enough?: For pre-revenue and solo founders with <100 transactions/month, yes. Once you cross that, the time you spend in Wave starts to outweigh the paid alternatives.
Xero vs QuickBooks for a UK-based founder selling globally?: Xero almost always wins in the UK / EU / AU. The reporting is built around HMRC-style accounting, the bank-feed integrations are deeper for UK banks, and your accountant probably already lives in it. QuickBooks Online edges Xero in the US for the same reason in reverse. If you're UK-based selling globally, default Xero and use multi-currency from day one rather than retrofitting it later.
When does it make sense to outsource to Pilot or Bench?: When you have ≥$10k MRR and the founder is still doing the books on Sunday nights. The done-for-you bookkeeping at ~$500/mo is cheaper than the founder's time once the company has revenue worth defending. Below $5k MRR, the math doesn't justify it — you're better with Xero + a part-time bookkeeper at 5-10 hours/month.

Next action

Calculate your runway

Books picked. Now see how many months you have at current burn.

Calculate your runway

Editorial independence: Some marketplace links may be affiliate links. Editorial placement is not determined by commission. See our affiliate disclosure.

See all tools in this category

Finance marketplace

Related hubs

Startup Finance Fundamentals

The minimum finance every founder needs to know: runway, burn, gross margin, LTV:CAC, pricing, and the calculators to compute them.

Running a Small Business

A practical guide for small business owners — not VC-backed startups. Cash flow, local lead generation, hiring, operations.