QuickBooks for Small Business: Which Version Do You Need?
Read our comprehensive QuickBooks Online review to decide if this popular accounting software is the best choice for your needs and budget. While QuickBooks products work for many businesses, they aren’t the best choice for all businesses. If neither of these options seems to be the right fit or you’re just exploring your options, make sure to check out our list of the best accounting software for small businesses for more great options. If you go with QuickBooks Desktop Pro or Premier, a payroll add-on is available for an additional monthly fee. While these products will still be available to existing users, QuickBooks Desktop Payroll for Pro and Premier will no longer be available for new users to purchase starting on July 31, 2024. For small business owners new to the accounting scene, this service may bring much-needed peace of mind when managing your books and filing small business taxes.
QuickBooks Pro Plus VS QuickBooks Premier Plus
In the battle between QuickBooks Online and Desktop, it’s best to focus on the differences between the two accounting software options since they are so similar. It is worth noting that QuickBooks Desktop Pro and Premier versions will soon discontinue sales to new users. Beginning July 31, 2024, only QuickBooks Desktop Enterprise will be available. If QuickBooks Desktop seems to be the better fit after reading this comparison, make sure to act quickly to start your subscription to avoid missing out.
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Everything from the installation screen to the lagging UI gave me flashbacks to the 1998 dial-up tone on my family’s Pentium III computer. There were also fewer prompts of the tutorial variety, but I was pleasantly surprised by the number of features packed into 1800 accountant review and pricing it. Accountants often find QuickBooks Pro and Premier to be more traditional, but you don’t have to be an accountant or professional bookkeeper to learn QuickBooks Online. The online version of QuickBooks is much easier to use than the desktop version.
Can QuickBooks Online do payroll?
This lets them save and comment on invoices, save their payment information, invite others to access the account and collaborate on projects they’ve been invited to view. Accounting software helps you track how money moves in and out of your small business. The best accounting software makes it easy to keep https://www.business-accounting.net/wave-accounting-pricing-alternatives-more-2021/ a detailed financial record so that you’re ready come tax season. It also includes tools for streamlining accounting tasks, like the invoice process, and gaining insight into your business’s financial health. QuickBooks is one of the best accounting software for small businesses—and for good reason.
The Best QuickBooks Products for Small Businesses 2023
QuickBooks Online is better than QuickBooks Desktop if your business is looking for easy cloud-based accounting software with more mobility. For more complex and traditional accounting, QuickBooks Desktop is better than QuickBooks Online. Mac users that want a locally-installed accounting solution will find that QuickBooks Mac Plus offers a pretty good set of features and is optimized for use on Mac. QuickBooks Mac Plus is set up in a similar way to QuickBooks Pro or Premier but is easy to use, much like QuickBooks Online, offering users the best of both worlds. Best for large businesses with 40 users or fewer looking for industry-specific accounting and advanced accounting. Best for small to medium-sized businesses with five users or fewer in need of strong accounting and industry-specific accounting features.
Choose the QuickBooks Desktop or Online product for your needs
But, it requires an active QuickBooks Online or Self-Employed account to access those features. 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. If you report income on Schedule C of your personal income tax return, this cost-effective option might be best for you. At Business.org, our research is meant to offer general product and service recommendations. We don’t guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.
QuickBooks Online is the most versatile and well-rounded of the QuickBooks suite of products. Since it’s cloud based, QuickBooks Online is easy to access from any phone, tablet, or laptop. Spreadsheets can be a useful tool for historical tracking—but they have limited functionality when it comes to syncing data and automating processes, making them prone to errors. QuickBooks Online automatically syncs with connected bank and credit card accounts and auto-categorizes expenses to help small business owners save time.
- QuickBooks data is only as valuable as it is accurate; allowing multiple people to use one account eliminates accountability or transparency and breeds errors.
- However, QuickBooks Online offers over 750 integrations to QuickBooks Pro’s 260+ integrations.
- The Schedule C optimizer also helps you squeak out every possible business expense deduction.
- If you prefer a desktop version of QuickBooks Online, QuickBooks Premier Plus and QuickBooks Enterprise are solid choices for midsize and large businesses.
- There are no caps, limitations, restricted features or other drawbacks to using Wave for free.
Both versions offer automatic syncing with your bank so you can categorize transactions. Add payroll to QuickBooks Online starting at $45 per month, or to Desktop starting at $50, plus $2 per employee, per month. The most notable difference, aside from price, between QuickBooks Online and QuickBooks Desktop is the Online version is cloud-based. The mobile app for Online is robust, and Desktop’s mobile app is so limited, that it essentially functions as a receipt uploader. Working from the cloud means you need an internet connection, so a poor signal or an intermittent connection can be an issue.
The features are designed specifically for freelancers to address needs such as estimating quarterly taxes, filing Schedule Cs, and tracking deductions. You can easily separate personal and business expenses, which is ideal for freelancers who don’t have separate business bank accounts. Not only does Quickbooks Self-Employed help freelancers navigate the scary waters of estimated quarterly https://www.intuit-payroll.org/ taxes, but it also gives them basic bookkeeping tools to track income and expenses. QBO offers up to 25 full-fledged users total and an unlimited number of time-tracking-only users. Striven has designed accounting solutions tailored to a dozen industries. Its retail solution, for example, includes CRM, inventory management and marketing features to integrate with its accounting platform.
Here are NerdWallet’s picks for the best small-business accounting software, including why we selected each product, monthly price details and features checklists for easy product comparisons. We’ve also included a couple of solutions that nearly made our list and a few products you can skip. The Plus Plan is $45 per month for the first three months, then becomes $90 per month, and adds up to five users. It also has inventory management and gives you the ability to project profitability with forecasting reports. The Advanced Plan is the final tier for $100 per month for the first three months, then reverts to $200 per month. This allows more users (up to 25) and increases analytics for users to assess the business’s health.
Consider these factors when determining which version of QuickBooks is best for your small business. QuickBooks Mac Plus is similar to QuickBooks Pro Plus, but it’s the only desktop version of QuickBooks that is compatible with Mac systems. Find help articles, video tutorials, and connect with other businesses in our online community.
To purchase QuickBooks Desktop Pro, you will need to contact QuickBooks Sales by phone. You can also purchase a subscription from an authorized QuickBooks reseller. If you can’t decide if QuickBooks Online, QuickBooks Desktop, or another QuickBooks version is right for your business, this guide is for you. Limited — Feature offered by some financial software providers but with limited functionality.
Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. This allows you to compare the estimated costs and revenues of your projects against the actual numbers incurred throughout the completion of the project. This helps you identify potential problems and make adjustments once you determine that your projects are not profitable. From side-hustles to complex companies, we have the tools you need to run your business.
QuickBooks Online is better than QuickBooks Desktop if you prefer a cloud-based accounting software to a locally installed one. QuickBooks Online’s biggest advantage is its ability to be accessed from anywhere with an internet-enabled device. Learn about all the differences in our comparison of QuickBooks Online vs Desktop.