As a business grows, users can easily upgrade to a more advanced plan with additional features seamlessly. QuickBooks is the platform most used by professional accountants so if you plan to work with an accountant, they will likely be very familiar with the platform, its features and capabilities. QuickBooks Online is the most versatile and well-rounded of the QuickBooks suite of products.
Double-entry bookkeeping
QuickBooks is the most popular small business accounting software suite. It comes in a variety of editions and has web-based and desktop programs. QuickBooks includes features that allow you to keep track of your income and expenses, pay your employees, track your inventory, and simplify your taxes.
- In fact, we found QuickBooks’ workflow for preparing 1099 forms to be exceptionally straightforward – it takes just three steps.
- Small to medium-sized businesses and freelancers will likely benefit the most from QuickBooks.
- Another QuickBooks tax-deduction tool we were really happy with is the guided Q&A experience in the bank transactions module.
- This feature saves time and reduces manual data entry, making bank reconciliation more accurate and quick.
We like that you can mark the reports you use most as favorites so you can quickly find them at the top of the Reports page. You can also set up the software to run reports and email them to you automatically as well as schedule them for a specific time of day and frequency, such as daily, weekly, monthly or quarterly. With QuickBooks Online, you will never have to wonder where your transactions are.
How to do bookkeeping for small businesses: 4 steps
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. In the cloud, you have access to your business data any where with an internet connection, on any device. All your data is in one place so you’ll always have access to the latest data even with multiple collaborators like your bookkeeper or your accountant.
QuickBooks Online plans and pricing
This especially impressed us, as certain QuickBooks competitors, such as Zoho Books, lack tax features entirely. QuickBooks Online has an easy setup that begins with making sure you are directed to the appropriate plan. To get started, you answer questions about your business to help Intuit determine which plan is best for you.
QuickBooks Online Review and Pricing
QuickBooks Point of Sale can sync directly with any QuickBooks Desktop package. So, if you’re using QuickBooks Desktop and need a POS system, consider this option through QuickBooks. We break down the most important features of each QuickBooks Online plan in the table below.
Like QuickBooks, FreshBooks also offers an online version that you can log into remotely. The platform offers basic accounting tools, like invoicing, payments, time tracking, and proposal creation. Pricing is based on the number of billable clients rather than the number of users. Small business accounting is a crucial element of starting and operating a company. Small businesses need access to a diverse array of accounting features and integrations at an affordable price point to help them manage their finances.
The software is very easy to use, even for people who do not have an accounting background. If you invoke the guarantee, QuickBooks will conduct a full n evaluation of the Live Bookkeeper’s work. QuickBooks reduces accounting legwork, but takes dedication upfront to setup properly. Make sure you or qualified staff actively use the capabilities for maximum ROI.
- QuickBooks Online plans also allow for up to 25 users, which is more than most desktop plans allow.
- For more scaled needs, also evaluate mid-market systems like NetSuite or Intacct.
- If you like QuickBooks but want to pay a bit less, we recommend looking at FreshBooks, Xero, and Wave Accounting.
- You can also generate reports in QuickBooks to see which transactions you should and shouldn’t include in 1099 forms.
- In QuickBooks, go to “Get Paid” → “Customers” to add or manage customer and vendor accounts, including payment details.
QuickBooks Online is cloud-based software that can be accessed anytime and anywhere from any internet-enabled device and has monthly subscription options. Meanwhile, QuickBooks Desktop is an on-premise software that needs to be installed on the computer where you’ll use it and is available as an annual subscription. For more about the differences between the two programs, read our comparison of QuickBooks Online vs QuickBooks Desktop. QuickBooks allows you to enter new bills and expenses and keep track of them automatically by connecting your bank and credit card accounts to the platform. By doing so, all your expenses are downloaded and categorized automatically. In fact, one survey found that just 49% of small businesses partner with external accountants and accounting firms.
QuickBooks is generally pretty easy to set up yourself, though launching any accounting software gets harder the more complex your business is. But if you don’t want to tackle software setup on your own—or if you just want additional help customizing QuickBooks to your business—you can request expert setup from a QuickBooks bookkeeper. 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. Keeping track of your small business’s invoices, payroll, and expenses can be a lot — here’s where Intuit QuickBooks Online for small business comes in. QuickBooks allows you as a busy small business owner to outsource your bookkeeping and other accounting tasks you simply don’t have time for. Accurately recording transactions is crucial for tracking your company’s financial health.
QuickBooks has done an excellent job incorporating AI functionality into its software. Intuit Assist is an AI-powered assistant that can help analyze your business’s finances and answer accounting questions. The software can anticipate likely follow-up questions and provide actionable suggestions (e.g., sending reminders for unpaid invoices). It can also automate invoicing, categorize receipts, match transactions and more.
We evaluate uncommon, standout features that go above and beyond the core functionality defined and typically found in accounting software. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user. Its learning quickbooks small business accounting curve can be steep for beginners, and the customization options might not meet the needs of users requiring highly tailored invoices and reports.
Choose an accounting method
Businesses that provide services, rather than goods, should consider the QuickBooks Plus plan. Businesses with inventory will likely get the most benefit from QuickBooks Plus. Large businesses that need access for up to 25 users will probably want to go with QuickBooks Advanced.
QuickBooks Accounting Software Review for 2025
Evaluate small business accounting services to find the right solution for tracking money, analyzing profitability, and organizing financial transactions for tax time. The best accounting software offers affordable pricing tiers and has a clean, user-friendly layout. Additionally, several options provide free accounting apps for startups and freelancers with advanced versions available as your company grows.