QuickBooks offers a specific version of the software called QuickBooks Solopreneur (formerly QuickBooks Self-Employed or SE). Many people find that once they link their accounts, it is easy to import their transactions, and the QuickBooks software will automatically work to tag one’s income. Additionally, many people use QuickBooks to create and send invoices, manage employee payroll, help prepare their taxes, maintain a budget, and automate tasks. Many use QuickBooks to automate sending customer invoices or payment reminders or even keeping employees updated on crucial tasks and sending deadline reminders.
“For product-based businesses, explore QuickBooks Online Plus capabilities around inventory management, sales channels, and custom fields before assuming Essentials will suffice,” suggests Reynolds. “QuickBooks offers scalable tiers so you can change plans as your business evolves.” All of these small costs can add up, making your end bill higher than the cost of quickbooks for small business predictable $35-$235/month fee. QuickBooks Online is one of the company’s most popular accounting software choices for small-business owners.
- Payroll automatically calculates payroll taxes and deductions, and seamlessly integrates the data with QuickBooks Online for simplified reporting, profit analysis, and tax preparation.
- This plan also gives you access to Intuit Assist, the AI-powered automations that can save your team time on tedious tasks and personalize customer experiences for your business.
- Shopify Payments is an integrated payment solution designed for Shopify merchants.
- Opt for a QuickBooks plan that fits your business needs, and stay away from extra bells and whistles to avoid paying for unneeded extras.
How Does Intercompany Accounting Work – Key Principles and Practical Applications
These features of QuickBooks allow you to increase productivity and maintain efficient workflows so that you do not constantly need to task employees with work that can be done by the QuickBooks software itself. In our research, we found that QuickBooks Online was one of the top accounting platforms for businesses of all sizes. It offers solid core accounting and operational efficiency features at a moderately competitive price, particularly with the 50% off deal for the first three months.
Inventory Management
It allows businesses to connect all sales channels and provides comprehensive reports for in-depth financial analysis. With support for up to 5 users, this plan is perfect for businesses that require collaboration and detailed financial insights. Xero provides cloud-based accounting with strong bank reconciliation and more than 1,000 app integrations.
Any other business: QuickBooks Online
Purchasing QuickBooks Time through Fourlane can grant you 30% off your first year’s subscription. All plans include one free admin, scheduling capability, and expert technical support. To see if a feature is only available for Platinum or Diamond subscriptions, click on the feature in the Quickbooks Enterprise Features section on our QuickBooks Enterprise Expert sales and expert services page. When choosing your subscription through Fourlane, you can get exclusive savings, like earning up to 50% off for one year and discounted bulk pricing for multiple companies.
Can I switch between QuickBooks plans?
Whether you prefer cloud-based or desktop versions, QuickBooks has you covered, as you can choose which different edition type (e.g., Pro, Premier, Enterprise) works best for your business. This variety, along with its easy-to-use interface, is why QuickBooks compares favorably with other accounting software. This option is best for large businesses that could benefit from the extra support features, like a dedicated manager or virtual training classes. It also increases your user allotment to as many as 25 users, so larger teams with more accountants will require this plan. Your business size and structure will determine which QuickBooks Online plan is best. If you’re a single freelancer, you won’t need to manage any other employees, and you won’t need to track many sales (if any) – so the Self-Employed Plan is best for you.
Notably, as of January 2025, there is only one QuickBooks Desktop plan – Desktop Enterprise, which features built-in accounting and payroll and allows for up to 40 users. QuickBooks Advanced is best for enterprise businesses with support for extra users and new features which help businesses operate more efficiently at scale. For example, it brings a dedicated account manager, priority customer support, customer user permissions, and online training courses. Choosing the right accounting software can significantly impact businesses looking to scale operations. With accounting software, businesses gain better oversight of key financial metrics like cash flow, expenses, payroll, and more.
QuickBooks Payroll
Transaction fees are connected to accepting payments through your version of QuickBooks. There are different rates for cards and digital wallets, ACH bank payments, using an add-on card reader, and manually keyed-in cards. QuickBooks offers clear pricing tiers for every version and add-on option.
- With the Advanced plan, businesses also have access to 24/7 support and training to get the most out of their QuickBooks online subscriptions, adding significant value to the plan.
- The QuickBooks Online Essentials plan costs $65/month and includes three users and more features.
- This means you can access your QuickBooks data without being tied to the office.
- (The general business version still includes excellent reports—they’re just more broad.) For instance, the general contractor plan includes job costing and reports that organize costs by vendor.
- With five plans, each at different price points, users can choose the plan that best meets their business needs without paying for additional features that they don’t want.
- The software also includes features to assist with tax preparation and can be used to collaborate and share documents with an Accountant.
Microsoft Teams
Shopify Tax puts sales tax insights and collection in your control, and makes everything manageable from your Shopify admin. Shopify comes with built-in tools to help manage warehouse and store inventory in one place. Track sales, forecast demand, set low stock alerts, create purchase orders, count inventory, and more. Microsoft Teams is a collaboration platform that combines video conferencing, team chat, file sharing, meeting recording, and app integrations within the Microsoft ecosystem. Modern communication platforms integrate messaging, video conferencing, and file sharing in a single environment. These tools reduce email overload and create organized spaces for project discussions and team collaboration.
The level of support may vary depending on the plan you choose, with higher-tier plans offering more comprehensive support options. It’s important to review the support features included in each plan to ensure you have access to the assistance you need. This allows you to explore the software’s features and determine if it meets your business needs before committing to a paid plan. The trial period provides a risk-free opportunity to evaluate QuickBooks’ capabilities. Patriot is a top pick for payroll with benefits like affordable pricing, unlimited payrolls, US-based support, and free direct deposit.
