The Best QuickBooks for Small & Medium Businesses
Finding a financial system that works best for you and your business is critical to your success, and with so many options to choose from, finding the right software can be difficult.
As a company that has been a leader in accounting system design for over twenty-five years, we have found that QuickBooks is the best choice for the accounting needs of small and medium service businesses and nonprofit businesses.
Since QuickBooks was completely rewritten in 2006 with a new API architecture, it has become a leader in bookkeeping solutions for both small business owners with limited experience and enterprise C-level executive users.
QuickBooks caters to a wide variety of businesses and has two different platforms to choose from: QuickBooks Online and QuickBooks Desktop.
To make the best informed decision when selecting the best one for your company, below we will outline the main features and costs associated with each.
Suggested Read - QuickBooks Desktop Enterprise
How much does QuickBooks Online cost? Features and Pricing Review
QuickBooks Online (QBO) operates very differently from the desktop version. You can purchase a monthly or annual license and updates are issued automatically. Here are some reasons why businesses choose QBO:
Access from any location including mobile devices
cost effectiveness
Integrates with a wide range of additional apps that create financial eco-systems for small businesses
Many small businesses will choose to use the online version, without the need for complex reports. Startups also use this version due to low cost and accessibility.
There are three options to choose from with QuickBooks Online: Simple Beginner, Essential and Plus.
Simple starts at around $ 15 per month. It covers the basic needs of a business; Tracking income and expenses, invoicing and coordinating with your bank. If you need more features than simple start offers, the next option is required.
The required cost is approximately $ 30 per month and has additional features such as bill payment and profit and loss reporting.
Also provides more advanced features. It costs about $ 40 per month and offers everything with a simple start and essential inventory tracking and 1099 preparations.
Prices fluctuate for QBOs, so we cannot provide an exact monthly fee. Additional fees are added based on the number of users and if you want to integrate applications at the time of purchase.
How much does QuickBooks Desktop cost? Features and Pricing Review
QuickBooks Desktop (QBD) allows for more in-depth reporting such as manufacturing, inventory and job costs. It also allows for more users per file. Some of the top features include:
Multiple User Access
Job costs if you use Intuit or Insperity payroll
Profit and loss by class, service item, customer or job
Forecast
1099s
Unlike QuickBooks Online, you buy the software, install it on your server or desktop, and have the option to update every year. QBD has an upstream cost because the software has to be purchased. There are three options to choose from: Pro, Premier and Enterprise.
Also Read - QuickBooks Desktop Pro
Pro software starts at $ 300 and offers up to 3 users per license.
Premiere ranges from $ 500- $ 1,200 with a $ 5 user license. Premier allows your business to track inventory and place purchase orders.
Enterprise is more robust and costs $ 2,200 to $ 5,000 depending on the license you require. If you need accurate job costing and manufacturing, this is the best option.
Like QBO, the cost of this product can vary greatly, depending on how specific business your users require.
Integrating applications on QuickBooks Online and Desktop
There are several options when it comes to being able to integrate applications with QuickBooks. Apps are available to help you optimize your software, billing, timesheets, job costs, etc., so that you can track the needs of your business properly. Some of the top apps we want to use are:
Bill.com
This app manages your accounts receivable and accounts payable. You can pay and pay bills through this app and it automatically syncs with your QuickBooks system. You have to go through the process of printing checks, signing them, sending them out and then waiting for it to be cached. The Bill.com app costs around $ 30 per month.
Tea sheet
This app tracks employee hours and integrates them with QuickBooks. Due to integration, this eliminates dual keying for entry in time. An employee inputs his information and it updates automatically in QuickBooks. This helps cut down on time associated with managing payroll. It costs $ 8 + per month depending on the needs of your business.
Expensify
Management expense reporting is now as easy as taking a picture of your receipt, uploading it with the appropriate code and approved in QuickBooks. The cost of Expensify depends on the type and number of users you have. It can be as low as $ 5- $ 10 per month and depends on users.
Paypal
If you use PayPal to receive payments, it can automatically sync QuickBooks when the app is integrated. Receipts are made, taxes are transferred and other important details will be securely recorded in QuickBooks. The application is currently free to all QuickBooks online users.
Summary: Which is the best for you? QuickBooks Online vs QuickBooks Desktop
As you can see, there are many differences between QuickBooks Online and QuickBooks Desktop.
While QuickBooks offers a lot of capabilities as the online desktop version, it currently does not allow key functions or multiple users to access the same file at the same time.
In today's competitive world, everyone is looking for an accounting solution that manages all the difficult tasks of accounting. QuickBooks is an accounting solution that resolves all your accounting concerns. For any other questions regarding this software, reach us through the QuickBooks customer service number +1(844)514-7111.