QuickBooks Online is a cloud-based accounting software that meets all your accounting needs. It is a subscription-based solution that is beneficial for people who regularly work with an accountant or auditor, as you can give them access to your data.
Read this detailed review to determine if this popular accounting software best fits your needs and budget.
What Are the Four Types of QuickBooks Online?
QuickBooks Online is a complete platform that covers accounting, invoicing, and expense management. The application offers four pricing options, with the first three months free.
Simple
The simple start plan is the first tier and costs $15 per month for the first three months and $30 monthly after that. This package includes all the essential accounting functions for your business, such as tracking income and expenses, invoicing and solvency, tax deductions, and recording receipts and mileage.
Essentials
Switching to the Essentials plan will cost you $27.50 per month for the first three months and $45 per month after that. With this plan, you can add up to three users to your account and ensure the right people have easy access to your data. You can also manage your invoices and track your employees’ hours so they can be billed correctly.
Plus
The Plus Plan costs $42.50 per month for the first three months and then increases to $84 per month with a maximum of five users. It also manages inventory and allows you to predict profitability based on forecast reports.
Advance
The Advanced plan is the highest tier in QuickBooks Online and costs $100 per month for the first three months and then increases to $200 per month. This allows additional users and improves analytics for users to analyze the business’s health. Workflow automation, data recovery, batch billing and costs, and on-demand training are available. This subscription also includes a dedicated account manager to assist with training, troubleshooting, and configuration.
What are the Features of QuickBooks Online?
Accessibility:
QuickBooks Online can be accessed from any device with an internet connection, making it convenient for business owners to manage their finances while on the go.
Integration:
The program integrates with other business tools and apps, such as payment processors, banks, and point-of-sale systems, making it a comprehensive solution for businesses.
Ease of Use:
It has a user-friendly interface and offers various tutorials and resources to help users get started and make the most of the service.
Automation:
QuickBooks Online automates many time-consuming tasks, such as bank transactions and sales tracking, freeing up time for business owners to focus on other essential tasks.
Payroll
The payroll tool, which lets you conveniently manage payroll and benefits access in one place, is a popular add-on. The approach includes calculating taxes and using the right paperwork. When you subscribe to this service, you receive a 1099 e-file with the appropriate paperwork and next-day direct payment.
Customizable Financial Reports:
Offers customizable financial reports that give businesses a clear picture of their financial performance, enabling them to make informed decisions.
Affordable Pricing:
QuickBooks Online offers various pricing plans to fit the specific needs of different businesses, making it an affordable solution for businesses of all sizes.
24/7 Support:
24/7 customer support, ensuring users have access to help whenever needed.
QuickBooks Online is an excellent choice for many small businesses that want to simplify customer billing and connect invoicing and payments to the general ledger. Small companies can customize their platform to use only the needed features.
Those who need to do their accounting on the go can benefit from the mobile app. It includes most of the functions of the web platform, as well as the recording of transactions and receipts for quick and easy accounting.
Frequently Asked Questions
After going through a validation process, you can get the program for free if you register as a faculty member or student.
According to Intuit, 94% of accountants think QuickBooks Online saves them time, saving their clients money.
Yes, QuickBooks Online is safe to use. It has features such as data encryption, secure tokenization of credentials, and more to protect your data.
