QuickBooks is an accounting software package developed and marketed by Intuit. Their products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
- Track income & expenses.
- Send custom invoices & quotes.
- Snap & store receipts.
- Connect with your bank.
- Manage pay-roll.
- The Self-Employed plan starts at US$15 per month.
Quickbooks is an accounting software that helps businesses streamline their finances. It allows you to manage your accounts receivable, inventory, payroll and other financial tasks with ease.
Quickbooks also offers a range of reporting capabilities so you can stay on top of your business’s performance. With its user-friendly interface, Quickbooks makes it easy to keep track of your finances and make sound financial decisions.
The software is designed for small and medium businesses but can be scaled up as needed.
In addition to helping you better understand your business’s financial picture, Quickbooks helps automate bookkeeping tasks such as invoicing and tracking payments while freeing up time for more strategic work.
Whether you’re just starting out or have been running a successful business, Quickbooks packages offer a great fit.
How does Quickbooks compare to other similar programs?
When compared to other similar programs, Quickbooks stands out for its ease of use.
It makes the process of managing your finances simple and straightforward, which helps you save time and money.
Additionally, Quickbooks offers advanced features such as automated payment reminders, inventory management tools and an array of customizable reporting options.
The software also provides a variety of integration options so you can easily connect it to other applications and services. This allows businesses to better understand their financial picture and make more informed decisions about operations.
Pros and cons
What are some of the unique features that Quickbooks offers its users? Are there any drawbacks to using Quickbooks?
Should you use Quickbooks?
Overall, Quickbooks makes managing business finances easier than ever before with its user-friendly interface, powerful features and wide range of integrations.
Whether you’re looking for a comprehensive accounting solution or just need help tracking expenses, Quickbooks has you covered.
With its advanced capabilities, Quickbooks helps you streamline your finances and keep more of your profits.
What The Experts Say
Find out what each expert had to say about Quickbooks.
In my opinion, the ‘QuickBooks Pro’ is the best accounting software right now. This software provides my business with an easy-to-use, efficient accounts receivable, accounts payable and payroll function. All of this means I can effectively plan my invoicing and billing system, all of which has helped me to improve my money management.
Small businesses typically use QuickBooks for invoice management, Bill payments and for tracking the daily cash flow. The software is best for monthly and yearly financial reports as well as help businesses to calculate the quarterly or annual business taxes.
With the in-depth details to every financial transaction, I highly recommend Intuit’s QuickBooks Online as the best accounting software for small businesses. QuickBooks is ideal for small businesses but with its largest plans, it is also best for small to medium and medium to large businesses. The software provides cloud-based strong accounting features to every business.
The best thing is that it has a mobile application that is easy to use.
The QuickBooks comes in different types like:
– QuickBooks Simple Start – For starters
– QuickBooks Online
– QuickBooks Mac
– QuickBooks Pro
– QuickBooks Premier
– QuickBooks Enterprise
For the startups or small businesses, I suggest QuickBooks premier that comes with advanced options useful for handling day-to-day transactions. It helps small businesses track their biggest sources of income. With the premier, they can edit, delete and manage all of their inventory in a single location.
The QuickBooks accounting software is best for Receipt capture, 24/7 chat support, integration with PayPal, Shopify and Square. The software is used to send invoices, receive payments, run reports, calculating the estimates and organize the receipts accordingly. It helps to track the inventory on a larger scale.
Like many other time tracking apps, QuickBooks is easy to integrate with your current working system. One can simply set up employee timesheets and track their hours. It also helps in paying your workers as per their working hours.
At Hosting Data, an online web hosting comparison site for UK users, we use Quickbooks Online for all our accounting needs.
Quickbooks is a great, cloud-based service offering both accounts receivable and accounts payable features, with an easy to use mobile app, it can be accessed at the tip of your finger. Being able to create and issue an invoice from your phone is extremely useful as a small tech business working with other small to medium sized businesses.
QuickBooks offers a one-month free trial which was really great when trying out various accounting software options. As your business grows, QuickBooks offers a tier-based service plan to provide the level of support you require over the years, it’s great value and dependable which is paramount to a small business.
FreeAgent is aimed at freelancers and very small businesses meaning it has slightly fewer features compared to Quickbooks. FreeAgent can support tasks such as invoicing, time tracking, and expense management, all available via the cloud. It is slightly more expensive than Quickbooks with less functionality.
Wave Accounting provides a totally free option, offering high level invoicing, accounting, and receipt scanning, with additional services including payroll on a pay-as-you-need type basis. Wave Accounting was pretty good considering it’s free of charge, but it offers no reporting function with HMRC meaning there was some manual processing involved.
QuickBooks is by far the best software platform for businesses of any size. From freelance contractors to full-fledged enterprises, Intuit has provided all the tools necessary for business owners to keep track of all their financial information. At its most basic version, independent contractors can keep track of expenses and mileage. Ready to hire employees or pay vendors? QuickBooks offers built in payroll solutions and bill pay. Maybe your business needs to track inventory or expenses by project. QuickBooks has you covered too with inventory and billable expense tracking. QuickBooks parent company, Intuit, offers a full range of software solutions to cover all your business needs.
Quickbooks really is the best software available for a small business. The software is easy to use and can generate many different types of reports that are helpful to track and understand the financial health of the company. Quickbooks Pro costs $299.95 and can be downloaded on a single computer. Quickbooks Essentials is the online version that can be purchased for a monthly subscription fee of $40.
We’ve used 2 platforms over the past 5 years for our accounting: Wave and Quickbooks.
I can give some pros and cons of each:
✓ Wave Accounting Software:
– Free to use & start
– Easy to use for those not familiar with accounting
– Easy automatic reminders for overdue invoices
– Some limitations for online management of past records
– No android app when we were using it (unsure of now)
– Missing some smaller features that Quickbooks makes standard like mileage tracking
✓ Quickbooks Online:
– Better record keeping options: detailed matching & reconciling of records to payments, online search options, etc.
– Due to it’s popularity, easier to find bookkeepers & accountants familiar with the system
– Plenty of features to dig into.
– No free model to start – can be discouraging for new businesses
– Bit of a learning curve & can be time consuming – learning how to reconcile payments, how products & services work, etc. Almost too many options.
– Recurring invoices can be a bit unusual / inconsistent.
QBO is nice because most accountants are familiar with it and can access your account directly through it, no need to send backups or company files for them. It is also nice that a lot of CRM and other productivity apps sync with it. The downside, and I will scream this from the rooftops, the customer service SUCKS. Even as a Advanced Quickbooks advisor and Authorized Quickbooks Service Provider (reseller), the service still is awful. Also, their 1099 feature is a bit clunky as well. Reporting is limited, but will do for your needs.
Xero is great. Your accountant can access it, has all of the reports that QBO as and so much more. You can quickly categorize your transactions with their cash coding option, so that makes reconciliation a breeze. A shit ton of apps work with it (mostly because their API is so simple, lots of software folks can easily integrate). You get free HubDoc (digital document retention system) with your subscription. Price is comparable to QBO as well (if not a bit cheaper). 1099 feature is very nice. Their customer service is KICK ASS. Downsides, if you input an expense into the wrong bank account, you cannot simply select to move it to a different one. You need to delete and re-do. There isn’t a clear audit trail report available. Your accountant may or may not be familiar with it.
Wave apps is nice because it is free, has integrated invoicing and payment collection. Which, for a free app is super nice. You can upload receipts into it, bank feeds come into it, has basic P&L and Balance sheet. But the only downsides are their reporting isn’t as robust as Xero or QBO, and the reconciliation feature is a bit clunky. Sometimes, if you delete a transaction, it will delete one side of it, and not remove both the credit and the debit side. So that can leave your balance sheet unbalanced. (to an accountant, this is a nightmare).
Margaret H. Geiger
As a small business, it’s important to stay organized with finances. I use Quickbooks Self-Employed. It’s only $9.99 a month and I utilize the mobile app every day for sending invoices, logging mileage, keeping up with tax deadlines, and logging all expenses and profits. I can also connect my accountant to the software through email, so she is able to see everything – making doing taxes a quick and easy process. (Your accountant will love you, too!)
Quickbooks Self-Employed is great for small businesses and freelancers because it’s inexpensive and very user-friendly. It breaks down your total profit for the year, income, expenses, mileage with potential deductions, invoices to be paid or overdue, tax deadlines AND connects directly to your business bank account. Track transactions and upload receipts through the app. No more receipt hoarding! I recommend this software for anyone. There are other programs and levels depending on your business’ needs. Quickbooks makes staying organized a piece of cake!
✓ QuickBooks Simple Start
I originally was using QuickBooks Self-Employed in conjunction with my husband who is a freelancer, but it was difficult to separate out just my business’s transactions from our collective transactions, which was frustrating in terms of running reports. I switched to Simple Start with just my business accounts at the start of calendar year 2019 and had a much easier time reporting and tracking throughout the year. I also use the invoicing and payment features. I wish it was more intuitive to create invoices ahead of time to be sent at later dates, but I’m slowly figuring it out.