Read our full QuickBooks Online vs Desktop comparison to learn more. Most small businesses prefer cloud-based software as it is more affordable, easier to use, and keeps up with our society’s mobile lifestyle. However, locally-installed software can be more secure and offers a level of feature depth that the cloud often can’t touch. You can purchase a QuickBooks Mac Plus subscription for $549/year. QuickBooks Mac Plus is not available for purchase directly through the QuickBooks website.

If you aren’t sure about the product, you can give it a 30-day test run with 100% capabilities of the Simple Start Plan to see if it meets your needs. Due to its several features, QuickBooks is a game-changer for businesses seeking efficient Financial Management and data-driven decision-making. From saving time to ensuring financial accuracy and providing valuable insights, QuickBooks empowers businesses to thrive in a competitive market. Whether you are a small business or a large enterprise, adopting QuickBooks can revolutionise your financial processes and pave the way for sustained growth and success.

If you don’t need the advanced features offered by the Desktop plan, the Online version will save you money. QuickBooks Desktop is a good choice if you need specialized features such as inventory tracking or forecasting, and you don’t mind paying more for them. However, QuickBooks Online will suffice for most small businesses. Moving up to the Essentials Plan, you’ll pay $16.50 per month for the first three months, $45 per month.

Connect Your Apps

Whereas you might be able to use some software alternatives without explanation, it may take some time to get the hang of QuickBooks. You can also use QuickBooks’ ProAdvisor network to find certified accountants and bookkeepers. Given QuickBooks Online’s number of users, accountants outside of the network should be familiar with the software. You aren’t required to fill out every field in an expense or income entry, but the more detailed your records are, the more useful certain reports can be. For example, with QuickBooks Online Plus and Advanced, you can track inventory and do job costing — that is, you can figure out how much you spent to complete a certain project. Integrates with more than 750 apps and offers live, in-house bookkeeping.

You can ensure that you pay your bills on time by creating an accounts payable (A/P) report. This report will provide you with the details of your current and past-due bills. The ability to pay bills and track unpaid bills is available in QuickBooks Essentials and higher plans. However, the primary difference between the two lies in QuickBooks Premier’s industry-specific editions.

What are the different QuickBooks products?

In this article, we will discuss what QuickBooks is and how it works so that you can understand the different ways in which it can help you save time and be on top of your financial statements. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.

• You’ll get the most value out of QuickBooks Online if you understand how to use its transaction tags and reporting capabilities.
• We believe everyone should be able to make financial decisions with confidence.
• To manage payroll through QuickBooks Payroll, you’ll need to pay a fee for this add-on service, with plans ranging from $45 to $125 per month, plus an additional $5 to $10 per employee per month.
• Clarify complexity with efficient inventory management and integrated payroll and time tracking.

Be it a small business or a well-established corporation, knowing What is QuickBooks and how to use it can lead to improved Financial Management and contribute to the company’s success and growth. With QuickBooks, businesses can efficiently track income and expenses, manage invoices, monitor inventory, and generate detailed financial reports. The software caters to freelancers, small business owners, and even large enterprises, making it a versatile solution for various financial needs. Additionally, Premier Plus includes industry-specific features for manufacturers, wholesalers, nonprofits and retailers.

Find an accountant

What used to be a huge bulk of QuickBooks business is no longer so—it focuses mostly on its cloud version and actively encourages users to make the switch from Desktop to Online. This may signal future abandonment of its Desktop version as more people move to the cloud. If you make the switch from Desktop to Online, you can import your data and access your original company file at any time. For $27.50 per month for the first three months, then $55 per month after that, get up to three users, manage and pay bills and track time with its Essentials plan, which is its most popular plan. QuickBooks’ ability to streamline financial processes and save time is one of its most significant advantages. Automating tasks like invoicing, expense tracking, and payroll management frees up valuable resources that can be directed towards core business activities.

It’ll make tax time easier if your Chart of Accounts includes all the line items required on your tax return. In addition to those line items, create enough detail in your Chart of Accounts to provide whatever information will help you better manage your business. Our tutorial How To Set Up a Chart of Accounts in QuickBooks Online walks you through how to add, delete, and customize accounts. You can also enter bills into QuickBooks when you receive them so that QuickBooks can help you track upcoming payments.

Track receipts and more for tax time

Similar to QuickBooks Online, it’s a cloud-based product that can be accessed with your secure login from any computer with an internet connection. Employees or subcontractors can enter their own time as they progress through the day, or a bookkeeper can enter their weekly time if the employee submits a manual timesheet. Time entered and assigned to a customer will be available to add to the customer’s next invoice. All QuickBooks Online plans come with a one-time Guided Setup with an expert and customer support. The inventory management and job costing features are more robust in QuickBooks compared to QuickBooks Online.

Businesses can use QuickBooks to automate processes such as invoicing, payments, accounting, and more. These features make it easier to manage and track business finances. Versions of this product are available in many different markets.

QuickBooks is compatible with most devices, but each version has slight differences that you should know. Before you decide, check if the software is compatible with your operating system and device. Features are geared towards freelancers, small, and medium-sized business owners.

Available for Android and iOS devices, it lets you create and send invoices, accept payments online, and assign expenses to projects or customers. Your chart of accounts in QuickBooks provides a complete listing of all the accounts you need to track your financial data. These accounts are useful for tracking income, expenses, assets, liabilities, and equity accounts that might be required on your tax return. Currently, small business saturday 2019 offering two different specials; you can either try it free for 30 days or sign up and get a 50% discount on your first three months. QuickBooks (QB) is a leading tool for tracking business income and expenses. These include several online based plans, as well as different desktop versions.