QuickBooks for Small Businesses Choosing the Right Version

We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Accounting software that provides real-time support scores best, while chatbots score worst. In summary, QuickBooks is best suited for businesses that prioritize straightforward financial management and can manage occasional support delays. For those seeking extensive customization or more consistent support, exploring other options might be worthwhile.

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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. These five questions will help you narrow down your search and find what you’re looking for. If you can’t decide between two programs, here’s how they stack up head-to-head to help you determine which version of QuickBooks is the best accounting solution for your business. The real thing that sets QuickBooks Premier apart from QuickBooks Online and QuickBooks Pro is the industry-specific features.

The software’s limited customization options for reports and invoices can be restrictive. Additionally, businesses requiring consistently responsive customer support might struggle with QuickBooks’ variable support experience, making alternatives worth considering. Additionally, its built-in payroll management feature is a notable advantage, offering a convenient solution for handling employee payments and tax filings. QuickBooks also addresses common pain points like managing invoices, tracking expenses, and payroll processing. Its best features are its user-friendly dashboard, extensive reporting capabilities, and seamless integration with third-party applications.

How to choose the best version of QuickBooks for small business

• Below, you can see exactly how our testing and scoring works across eight criteria.
• It also allows users to record fixed assets and assign labor and inventory to projects.
• Here’s a look at all of QuickBooks’ small-business products, including accounting, point-of-sale and payroll software.
• However, if you want extra assistance, Intuit’s professional bookkeepers can help you configure the software in a way that makes sense for your business.
• Choosing the right QuickBooks version for your small business is essential for streamlining your financial management processes and supporting your company’s growth.
• It can also automate invoicing, categorize receipts, match transactions and more.

Unless your business is in transition and still growing toward the enterprise level, most small business products will not suit your purposes. Intuit and other accounting software companies make plenty of products just for enterprise users that suit your needs better. If you want small business accounting software for handling taxes, look for solutions that provide IRS tax forms and tax-specific reports. But choosing accounting services that meet your needs and budget can be challenging. This guide explores cloud-based accounting software costs and goes through what to look for, whether you’re a contractor with basic bookkeeping skills or an owner with several entities.

QuickBooks Pro, Premier, Enterprise, and Mac are the best for users with existing accounting experience or who want a locally-installed option. The main differences between the versions are your computer’s operating system and your business’s size. If you don’t know much about accounting, you’ll probably want to shy away from QuickBooks Pro, Premier, or Enterprise, unless you’re willing to put in the time to learn. However, QuickBooks Mac Plus does noticeably lack some of the features available on QuickBooks Online, including recurring invoices and live bank feeds. QuickBooks Mac Plus also has no integrations, whereas QBO has more than 750. Both are locally-installed accounting solutions, both offer numerous features and robust reporting, and both have numerous integrations.

With hands-on experience in accounting software since 2014, I bring a deep understanding of accounting and bookkeeping to my writing. Consider what the system’s interface looks like, how the navigation works and what setup entails. Your familiarity with accounting concepts and the availability of customer support is also worth weighing. Larger businesses with sophisticated inventory, reporting and accounting needs. QuickBooks dominates the market for small business accounting—but it isn’t always the best answer, and there are many alternatives to QuickBooks to consider.

I have an extensive history of reviewing small business accounting software. Below, you can see exactly how our testing and scoring works across eight criteria. Whether you just want help tracking receipts or you’re looking to automate complex workflows and support a large team, we have options for you.

With QuickBooks Online, you can send, track and file 1099 forms for independent contractors. In fact, we found QuickBooks’ workflow for preparing 1099 forms to be exceptionally straightforward – it takes just three steps. Tax deduction tools help ensure you take all available deductions and maximize the allowed amount to reduce your tax liability. QuickBooks Checking Account opening is subject to identity verification and approval by Green Dot Bank.

The number of users you need will also help determine which software is best for your business. Take a look at this chart to see which product suits your business’s size. However, freelancers that need good tax support and don’t require the more advanced features found in QBO may find everything they need with QuickBooks Self-Solopreneur. QuickBooks Pro only supports up to three users, and you have to pay per user. Learn more about the differences between QuickBooks Online vs. QuickBooks Pro. This table takes a deep look into each program’s features, so you’ll know exactly what each version of QuickBooks is capable of.

Customer Support

• Let’s get started to see if QuickBooks is right for your small business.
• GAAP (Generally Accepted Accounting Principles) can be confusing for people without accounting expertise, but QuickBooks includes many data visualization tools to make it easier.
• Another QuickBooks tax-deduction tool we were really happy with is the guided Q&A experience in the bank transactions module.
• QuickBooks offers various versions with industry-specific features tailored to different sectors.

TurboTax is an Intuit company that can act as your business’s accountant. You can file your state and federal taxes with the company’s professionals on staff. best quickbooks for small business This option could work well for freelancers, independent contractors, or small businesses. The price of your accounting software shouldn’t eat into your overhead budget too much. Track hours for employees and contractors, create schedules, and track mileage.

QuickBooks Online Review: Features & Pricing

The next tier, the Premier Plus 2022 plan, offers everything from ProPlus 2022 but adds things like sales order management, inventory tracking, and the ability to create price levels. Users can connect their bank accounts to QuickBooks Self-Employed to separate business and personal expenses automatically, as well as track mileage and import receipts. You can also run business reports and calculate estimates for quarterly tax payments. QuickBooks falls under the Intuit umbrella and offers an array of bookkeeping and accounting services to its customers.

Advanced users enjoy Priority Circle membership, which includes access to a dedicated customer success manager and priority support with shorter wait times for chat and phone assistance. With batch expensing, you can record and categorize multiple expenses simultaneously, such as travel, office supplies, or equipment purchases. Upload receipts in bulk, assign them to the correct accounts, and submit them for approval, simplifying expense management. Simple Start makes it easy to record and track payments to independent contractors.

QuickBooks products FAQ

QuickBooks offers various versions with industry-specific features tailored to different sectors. For example, QuickBooks Enterprise is ideal for industries such as construction, retail, and non-profits, offering tools that cater to the unique needs of these sectors. Ensure that the version you choose provides the features necessary to support your industry-specific requirements.

He has tested and review accounting software like QuickBooks and Xero, along with other small business tools. Eric also creates free accounting resources, including manuals, spreadsheet trackers, and templates, to support small business owners. Sage 50 scored relatively high in inventory management and customer service, thanks to its 24/7 phone and online chat support.

QuickBooks Online gives you everything you need to manage your financial operations, including accounts receivable and accounts payable features. If you want to customize the software with additional tools, you can choose from hundreds of apps that integrate with QuickBooks Online. QuickBooks Mac Plus — also known as QuickBooks for Mac — is locally-installed accounting software designed specifically for Mac users. QuickBooks Mac Plus has the usability of QBO matched with the advanced features and accounting of the other QuickBooks Desktop products. The software supports up to three users, although additional users incur an extra fee. QuickBooks Online automates tasks, making accounting less time-consuming and less stressful for small business owners.

You can sign up for one of two plans that integrate with QuickBooks and start at $20 per month. With the upgraded Enterprise 22.0 plan, you can dial into multiple industry-specific settings for QuickBooks, as well as tap into features like advanced reporting capabilities. The standard desktop option — QuickBooks ProPlus 2022 — gives you advanced accounting tools like online bill pay and customized payment stubs to vendors. QuickBooks Self-Employed offers many features that freelancers or independent contractors will find simplifies running a business.

Management expense reporting is now as easy as taking a picture of your receipt, uploading it with the appropriate code and being approved in QuickBooks. The cost for Expensify depends on the type and number of users you have. It can range from as little as $5-$10 a month and goes up depending the users. The entry-level QuickBooks versions, like Simple Start ($12) and QuickBooks Self-Employed ($7), only support one user.