Sumly vs QuickBooks

Sumly, for a Cyprus company. QuickBooks is a capable general ledger, but Intuit publishes no Cyprus edition: its own country chooser routes Cyprus to QuickBooks Online Global, Cyprus appears on neither of Intuit's published lists of countries whose VAT rates come built in, and no Cypriot bank appears in its bank-feed directory. So the subscription buys a ledger you configure yourself and a quarterly return you assemble yourself. Sumly maps all 16 Cyprus VAT codes to the boxes of the official return and prepares VIES from the same books. If your company isn't in Cyprus, none of that argument applies and QuickBooks may well be the better buy.

Country. QuickBooks serves the world through dedicated country editions and one global catch-all, and Cyprus lands in the catch-all. Sumly serves one country completely: the Cyprus VAT return, VIES and provisional tax come out of the books rather than being configured into existence, and the work around the books is in the same product — formation with a 100% approval guarantee, a Sumly certified bookkeeper on Premium, Partner Auditors at year end, the Yellow Slip and tax residency.

No. Intuit's country chooser lists Cyprus under Europe and links it to quickbooks.intuit.com/eu/, which resolves to QuickBooks Global — the same destination as 48 other European and Caucasus countries. The United Kingdom and Ireland each get a dedicated edition; Cyprus doesn't. Intuit's global help centre has regional sites for Australia, Canada, the United States, the United Kingdom, Singapore, South Africa and Ireland, and no Cyprus option at all.

Only if you set it up yourself. Intuit's global VAT and GST page names 22 countries whose tax rates come pre-filled, and Cyprus is not among them. Its help article for the international product names six countries where a default set of VAT codes is created automatically — Ireland, Mexico, Malaysia, Singapore, the United Arab Emirates and South Africa — and Cyprus is not among those either. In the global product you enter the tax agency, tax number, reporting method and filing frequency yourself and add your own rates, and Intuit notes that the rates it does provide are informational and recommends consulting your own tax adviser. Sumly ships the Cyprus codes already mapped to the boxes of the return.

No, and Intuit says so in its own help centre: you can't e-file from within QuickBooks, and you file directly with your tax agency online. The workflow is Prepare return, note your figures, then Mark as filed — a status flag inside QuickBooks — with the numbers typed by hand into the authority's form. Intuit also states that QuickBooks Online doesn't support amended tax reporting and that corrections go through your tax agency. Sumly doesn't e-file either: it prepares the Cyprus return and a person submits it through Tax For All — you on Base, your Sumly certified bookkeeper on Premium.

Not through Intuit's own directory. Its European bank-feeds page lets you filter supported banks by country and offers 54 country entries; Cyprus is not one of them, and no Cypriot domestic bank appears anywhere in the directory. The European Union entry lists eight pan-European providers — ING, N26, Payoneer, PayPal, Qonto, Revolut, Soldo and Wise Business — so a Cyprus company banking with one of those would have a feed. Otherwise Intuit's stated fallback is manual upload or an in-app request for the bank. Institutions are added and removed regularly, so check before you buy. Sumly connects read-only to Bank of Cyprus, Hellenic Bank, Alpha Bank, Eurobank, Revolut Business and Wise.

Intuit publishes no payroll product on its global site — the feature menu runs from Bank Feeds through to Connect Your Apps with no payroll entry — and the global help centre's full topic index has no payroll or employees category. QuickBooks Online Payroll shows up in Intuit's contact pickers for Australia and Canada, which are separate editions from the global product. Sumly has payroll as an add-on at €15 per employee a month: Social Insurance and GHS calculated, payslips out monthly, the run posting straight to the books.

QuickBooks is cheaper on the subscription line, and it would be silly to pretend otherwise. Essentials lists at €31/month against €39 for Sumly Base — €8 a month, €96 a year. Paid yearly, Base is €390 for the year against €372 for Essentials at its published monthly price, so the gap narrows to €18 across the whole year; Intuit offers annual upfront billing at a discount but publishes no annual figure. What the difference buys is the Cyprus VAT return. Essentials is the fair tier to compare because multi-currency, recurring invoices and bill management all start there — Simple Start at €21 carries a dash against all three in Intuit's own comparison table and caps the file at one user. Sumly prices exclude VAT; Intuit's pricing page states no VAT basis, but its global terms say fees are charged plus applicable taxes including VAT. Checked 26 August 2026, when Intuit was advertising 90% off for 6 months on top of these list prices.

Inventory management is on Intuit's global feature menu and isn't on ours — if you carry stock, that alone may decide it. Intuit also sells dedicated editions for the United Kingdom and Ireland, publishes bank feeds across dozens of countries, and puts Connect Your Apps on its eleven-item global feature menu — if you run companies in more than one country, that breadth is a real reason to buy it. Essentials includes 3 named users plus your accountant, rising to 25 on Advanced. If one of these is the thing that decides it for you, ask us before you assume either way — and if QuickBooks is the better fit, we'd rather you knew now than three months in.

Yes. A dedicated opening-balance flow brings your existing balances into Sumly, so your year still adds up and your history stays intact. Most founders run one month in parallel, compare the VAT figures, then cancel the old subscription — the 30-day free trial covers that parallel month. Or book a free call and we'll migrate your existing books for you.