Read our detailed QuickBooks Live Bookkeeping review to learn more about this assisted bookkeeping add-on. All reports can be exported to Microsoft Excel for customizing, viewing on screen, printing, or emailing directly to recipients. Users can access features via the vertical menu to the left of the screen or by using the drop-down menu bar at the how to accrue an expense: 6 steps top, and the My Shortcuts option allows you to add a shortcut to frequently used features. If the default screen is too crowded for your taste, you can hide the vertical menu, only displaying it when you wish. You can easily access all QuickBooks Online features from the dashboard, where you’ll find a vertical menu bar to the left of the screen.
The QuickBooks Pro is known for its path-breaking and exhaustive features such as customizable letter templates, to-do lists, calendars and a spell-check option that has been built into the system. Managing time, job costs, budgets, and contracts are better in the QuickBooks Pro as the features are more developed and comprehensive than the online version. A common dilemma for anyone in the market for good accounting software is which one to choose from the multitude of options that are available in the market. We all want to use the best invoicing software there is, and invariably, as you do your research, Intuit’s QuickBooks will crop up as a worthy contender.
For example, Xero ranges from $13 to $70 per month and includes unlimited users and basic inventory management in all plans. Similarly, FreshBooks ranges from $17 to $55 per month, with time tracking in all plans. QuickBooks Online Simple Start costs $30 per month, includes only one account user (plus access for two accountants) and does not offer billable hours tracking, bill pay or inventory management. For multiple users, bill pay and the ability to add billable hours to invoices, you’ll need to upgrade to the Essentials plan, which costs $60 per month.
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Whereas you might be able to use some software alternatives without explanation, it may take some time to get the hang of QuickBooks. You can also use QuickBooks’ ProAdvisor network to find certified accountants and bookkeepers. Given QuickBooks Online’s number of users, accountants outside of the network should be familiar with the software. Competitors like Xero and FreshBooks offer basic inventory tracking for less, but it isn’t as advanced. You aren’t required to fill out every field in an expense or income entry, but the more detailed your records are, the more useful certain reports can be. For example, with QuickBooks Online Plus and Advanced, you can track inventory and do job costing — that is, you can figure out how much you spent to complete a certain project.
However, QuickBooks Desktop offers better reporting and supports more complex accounting. When it comes to accounting software, QuickBooks Pro 2022 is one of the best options to work with. There are several different accounting software out there, but this one does a great job with collaboration and documentation of transactions to share them online. QuickBooks comes in a wide variety of price segments and features based on your business model. Terms, conditions, pricing, special features, and service and support options subject to change without notice. When working with the Desktop version, it’s downloaded right to your computer.
- Besides this, it helps you structure your deals and transactions in a way that is relevant to your company’s goals and business objectives.
- Although QuickBooks Online is a great cloud-based accounting platform, it isn’t the only one.
- The higher your plan tier, the more reports and users you can add, although it’s important to understand concurrent users are each sold separately.
- If you’re a freelancer, stick with its Self-Employed plan, which is $15 per month 9after the three-month discount at $7.50).
The QuickBooks mobile app is also available for free and lets you manage your account on the go. QuickBooks Desktop has a more dated user interface than some cloud-based products and requires prior accounting knowledge to get the most out of the product. QuickBooks Online has a cheaper monthly cost and is more affordable if you have a lot of employees who will be using the software. QuickBooks Desktop Pro may be cheaper if you do not need additional users or add-ons such as payroll. QuickBooks Online and QuickBooks Desktop operate on true double-entry accounting principles and have both accrual and cash-basis accounting. Each offers a detailed chart of accounts, journal entries, bank reconciliation, accounts payable, accounts receivable, and the basic reports needed to run a company.
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Next, activate the Spreadsheet Sync add-on by clicking Let’s Go in the pop-up window. Follow the screen prompts, and you’ll be able to install Spreadsheet Sync and sign in using your login details. Meanwhile, Batch expensing allows you to record and categorize multiple expenses at once instead of entering them individually. This is especially useful if you have many expenses to record, such as business travel expenses, office supplies, and equipment purchases.
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QuickBooks Online offers more features on the go and is a better overall value than QuickBooks Desktop. If you don’t need the advanced features offered by the Desktop plan, the Online version will save you money. QuickBooks Desktop is a good choice if you need specialized features such as inventory tracking or forecasting, and you don’t mind paying more for them. With the detailed information above, we hope you can make a more informed decision when comparing QuickBooks Enterprise vs. QuickBooks Online vs. QuickBooks Pro.
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There is no need to download QuickBooks Online because it is connected to the cloud, which means you can access online accounting from any device with an internet connection. You can download the QuickBooks Online mobile app from the Google Play Store or Apple App Store. Subscription clients in QuickBooks Desktop 2023 (R1) or older versions will need to update to the latest 2023 (R3) version before their subscription expires. To manage payroll through QuickBooks Payroll, you’ll need to pay a fee for this add-on service, with plans ranging from $45 to $125 per month, plus an additional $5 to $10 per employee per month. QuickBooks Self-Employed is suitable for freelancers and independent contractors who want to be able to track all their business expenses (such as rent or marketing) in one place.
It’s a great fit if you’ll be doing the bookkeeping yourself and don’t need inventory accounting. To expedite product setup, you can choose to use the default chart of accounts that is included in the application. You also have the option to import products and services into the application to avoid having to re-enter the data. QuickBooks Desktop offers the same support options found in QuickBooks Online including video tutorials, on-demand webinars, and various training options. Both applications also include an easy setup process, so you can be up and running in little time.
Best Accounting Software for Small Businesses
If you report income on Schedule C of your personal income tax return, this cost-effective option might be best for you. Next, you can customize invoices, set up automatic sales tax tracking (if necessary) and learn how to enter mobile receipts and bills. You can edit all of your business’s account settings using the gear icon in the upper right corner. Small to midsize businesses that want a desktop solution or need advanced inventory and industry-specific features. Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews.
QuickBooks Self-Employed
Both QuickBooks Online and QuickBooks Pro offer a good number of helpful integrations and add-on products. However, QuickBooks Online offers over 750 integrations to QuickBooks Pro’s 260+ integrations. We recommend crunching the numbers to decide whether the online or desktop versions of QuickBooks are right for your specific business.
