QuickBooks for Small Business: Which Version Do You Need?

Our partners cannot pay us to guarantee favorable reviews of their products or services. QuickBooks will generate important reports that will provide you, your accountant, and your banker important insights into the financial health of your business. This QuickBooks tutorial will teach you the importance of and how to print the profit and loss report, balance sheet report, statement of cash flows, and A/R and accounts payable (A/P) aging reports. 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.

  • QuickBooks has an easy-to-understand and intuitive interface.
  • Each lesson has been broken down into bite-sized tutorials.
  • Task-based companies draw from a pool of assistants, which is often sufficient for basic admin tasks.
  • In addition to everything you receive in QuickBooks Pro Plus, you’ll also have access to Enhanced Payroll.
  • In the next few sections, we’ll cover the pricing structures of QuickBooks Pro, Premier, and Enterprise in more detail.

Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services. Accept credit cards and payments anywhere and we’ll automatically calculate sales tax for you. Platinum or Diamond may be the way to go if you need advanced inventory and pricing. If you need more users than you can get with QuickBooks Premier but don’t need advanced features, then maybe Gold is a better option.

QuickBooks Online

Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis what”s an annuity of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships. Payment gateways allow you to accept payments from your customers. Common payment processing options include PayPal, Stripe, Square, and Authorize.Net.

  • Take a look or get started right away with your favorite version of QuickBooks Desktop.
  • Dedicated VA companies can help you integrate VAs into your team and help them learn your business processes faster.
  • Your annual subscription to either plan includes automated data recovery and backups, unlimited customer support, and automatic updates.
  • As you accept payment for any item in the inventory, the right expense account is updated and reflected automatically in taxable income.
  • We’ll also discuss the features of each product and guide you on how to choose the right QuickBooks Desktop edition for your business.

The explosion in internet use and remote work during the Covid-19 pandemic showed larger companies the value of hiring highly trained employees on demand. The result has been a surge in the virtual assistant market, with some estimates predicting it will reach $25.6 billion by 2025. Help us to improve by providing some feedback on your experience today.

Features

For example, in my experience workers in the Philippines often have among the least accents when speaking English. A client in Montreal who needs help in English and French could benefit from multi-lingual support based in a place like Algeria. Clients should also understand that bringing VAs on board isn’t something that happens instantly. It can be surprising how quickly VAs can start working, depending on tasks. But the larger and more complex the need, the more important it is to keep in mind that early-stage onboarding is a work in progress, one that should become more efficient and effective over time. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.

Can I buy QuickBooks Desktop without a subscription?

By the end of this lesson, you will be able to manage credit card sales with either a QuickBooks Payments account integrated with QuickBooks or a third-party credit card processor. You should consider accepting credit card payments as a convenience for your customers and to increase the speed that you collect outstanding invoices. QuickBooks Online is an incredibly comprehensive financial solution that is easy to use and navigate. It provides a wide range of features that make it easy to track and manage finances, as well as generate reports. The ability to connect to other applications, such as banks and payroll services, is also extremely helpful. QuickBooks Online is a cloud-based accounting platform while QuickBooks is a desktop program that provides additional inventory management features.

Who Is QuickBooks Online Best For?

QuickBooks Pro offers 14 payment processing integrations, or you can use QuickBooks Payments. QuickBooks Premier and Enterprise offer significantly fewer payment gateways, so you’re basically looking at QuickBooks Payments. You have easy access to all the common financial statements like balance sheet, profit and loss (P&L) statement, cash flow statements and taxes filed. You can take a printout of these statements for your accountant and send it across to them at the time of filing or invite them to view these statements without needing a login ID or password. QuickBooks is one of the most popular accounting software for small businesses in 2024.

Ideal for small businesses with a single user. Buy now and get 50% off three months – $30 $15 month.

Larger businesses with substantial accounting teams may want to consider the QuickBooks Advanced plan. It covers up to 25 users and provides dedicated customer support and advanced reporting features. Small businesses that are growing may want to use QuickBooks Essentials. The plan offers up to three users all the features of QuickBooks Simple Start, plus the ability to track hours worked and manage bills. A key added feature of the QuickBooks Essentials plan is the ability to manage unpaid bills and allocate billable time and expenses to a specific customer.

Keeping track of your debits and credits

If you are a small business or a startup, consider QuickBooks Simple Start. Businesses that provide services, rather than goods, should consider the QuickBooks Essentials 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. Anyone who has ever called customer service knows that handling live support calls requires unique expertise, and this is something VAs can offer. QuickBooks Online is our top pick for accounting software!

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