It also includes more advanced customizations and inventory management features. And with up to 40 users, it works best for big businesses that emphasize financial collaboration and can shoulder the higher cost of an enterprise-level solution. Simply put, the best accounting software is one that suits your unique needs.
Currently using QuickBooks?
QuickBooks Solopreneur offers basic features at a cost-effective price. Businesses that require multiple users or want more accounting features will benefit more from using QuickBooks Online. However, QuickBooks Pro’s features do come at a price, as this software has a steep learning curve. If you’re new to accounting software, it’s important that you have the time to commit to learning the software. If not, QuickBooks Online is much more user-friendly, even for accounting newbies. The downside of QuickBooks Online is that customer support is a bit lacking, and the subscription fee can be a bit expensive for smaller businesses in need of advanced features.
The payroll add-on calculates payroll automatically as often as you want. Three plans give your business the scalability to grow over time and add features as necessary. The Core plan offers everything a small to midsized business would need to get started, while Premium and Elite plans enable options such as same-day direct deposit and expert assistance with setup.
- If you read the overview of each QuickBooks product, you may already have an idea of which version of QuickBooks is best for your small business.
- And while the QuickBooks Desktop mobile app is fine, that’s really all it is—fine.
- Businesses with inventory will likely get the most benefit from QuickBooks Plus.
- Nearly 70% of business owners who have been there, done that, recommend writing a business plan before you start a business.
Security updates and product updates will still be released for all users who purchase a QuickBooks Desktop Plus or QuickBooks Desktop Payroll subscription before the cutoff date. But there isn’t just one version of QuickBooks—if QuickBooks Online doesn’t work for you, another one of the six different versions of QuickBooks cb contingent liability could. Plus, QuickBooks isn’t the only accounting solution in the world—far from it. Plenty of QuickBooks alternatives can meet all sorts of business needs, including your business’s needs.
The inventory management and job costing features are more robust in QuickBooks compared to QuickBooks Online. It’s important to note that FreshBooks is the most competitively priced software solution we found. While QuickBooks Online is only 50 cents more than Xero, note that that is the introductory cost for the first three months. QuickBooks Online goes to $30 per month after that and is easily our most expensive option. If you want to use your software anywhere you have an internet connection, you’ll likely want to focus on QuickBooks Online or pay more to add remote access through hosting to QuickBooks Enterprise.
Software that keeps you in control
Cassie is a former deputy editor who collaborated with teams around the world while living in the beautiful hills of Kentucky. Prior to joining the team at Forbes Advisor, Cassie was a content operations manager and copywriting manager. A seasoned small business and technology writer and educator with more than 20 years of experience, Shweta excels in demystifying complex tech tools and concepts for small businesses. Her work has been featured in NewsWeek, Huffington Post and more.
QuickBooks Online Basics: At a Glance
Since it’s cloud based, QuickBooks Online is easy to access from any phone, tablet, or laptop. QuickBooks Online has four pricing tiers and offers 50% off for the first three months when you purchase. The first tier is the Simple Start Plan at $15 per month for the first three months, then is $30 per month. In addition to accounting products, QuickBooks offers payroll and POS software, along with payment processing services.
Deciding which type of software works best for your business model can make your QuickBooks choice a whole lot easier. If you want cloud-based software, there’s QuickBooks Online and QuickBooks Solopreneur. If you want locally-installed software, you can take your pick from QuickBooks Pro, QuickBooks Premier, or QuickBooks Enterprise.
It has four plans, which means businesses can scale up to plans with more features and users as they grow. Its mobile app is great for on-the-go accounting and bookkeeping. And even its basic plan has more accounting tools than many competitors, including built-in receipt scanning, expense management, 1099 contractor management, and extensive financial reporting. A popular add-on is the payroll feature where you can run payroll and access benefits in one convenient place. It does cost more to access this, which is approximately $22.50 more per month plus $6 per employee, per month.