QuickBooks for Small Business: Which Version Do You Need?

3 Febbraio 2023

quickbooks accounting

When you become a QuickBooks Online Accountant, you can be listed in the Find a ProAdvisor website. This is where consumers go to find well-qualified QuickBooks accountants, giving you the ability to expand your business. There are self-paced guides to walk you through functions, video recordings to hone your skills and webinars to stay abreast of current changes in the field. Through the Solutions Marketplace, Intuit encouraged third-party software developers to create programs that fill niche areas for specific industries and integrate with QuickBooks.

It builds on Premier Plus with QuickBooks’ most advanced inventory, reporting and pricing capabilities. Enterprise is more easily scalable than other QuickBooks Desktop products, offering four plans and the option to add remote access. This is a desktop product, meaning you download and install it on your computer. QuickBooks Pro Plus has a full range of features including invoicing, inventory tracking, reporting, billing, and income and expense tracking.

Introducing QuickBooks Money with 5.00% APY**

The Vendor Management feature also provides you with details on each vendor, including total purchase orders, total payments made to the vendor, and an item purchase history. When entering vendors, you can also create defaults for each vendor, including payment terms, account aging, pay methods, and 1099 settings, with each vendor account also providing details on purchases and payments made. Another feature that small quickbooks accounting business owners will appreciate is the ability to add up to 20 different payment methods that your company may use to pay your vendors. These can include traditional methods such as writing a check and paying vendors via PayPal, credit card, or ACH transfer. However, in QuickBooks Online, all expenses are grouped together, and even filtering the information doesn't eliminate the addition of bills already paid.

quickbooks accounting

Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Yes, these training tutorials are updated regularly based on the latest feature updates or changes made by Intuit, the company behind QuickBooks. Our free QuickBooks Online tutorials are comprehensive and educational resources designed to help you use QuickBooks Online for your business more effectively. Each course provides detailed step-by-step guides through a combination of comprehensive text instructions, practical examples, and video demonstrations. There are 55 guides in our QuickBooks Online tutorial, spanning eight main modules.

How to use QuickBooks Online

By using QuickBooks Online Accountant, accountants can add customers to their client list and work on their books through the portal. All three options have a mobile app to make meetings with clients convenient and help you stay abreast of data while away from your computer. Intuit's Lacerte and ProConnect Tax Online tax preparation software for professional accountants who prepare tax returns for a living integrates with QuickBooks in this way. If you choose to save the invoice and later want to send it to your customer, you can do so by simply accessing the invoice from the sales option. If you bill clients monthly, you can create an invoice and choose to make it recurring, eliminating the need to create an invoice for that customer each month. This can come in handy if you need to provide your customers with additional backup such as warranty information.

  • Finding an accounting software application designed for small businesses that includes accounts payable functionality is more difficult than you might think.
  • But if you’re looking for advanced functionality such as inventory management, you might be better served elsewhere.
  • For example, if your customer purchases a decorative pond for their backyard, you can invoice the cost of the pond as well as the labor involved in installing the pond.
  • Yes, you can run an accounts payable report if you wish, but you shouldn’t have to do that to view your open payables balance.
  • And remember, you can always go back and update any of your chosen options, so don’t worry if you don’t love the custom invoice format you’re currently using.

Those who want to take their accounting on the go will appreciate the mobile app. It brings most of the features of the online platform, plus it enables mileage tracking and receipt capture for quick and convenient recordkeeping. QuickBooks Online is a leader in the accounting industry with it being the bookkeeping software of choice for many accountants, certified public accountants (CPAs) and bookkeepers. When comparing it to other bookkeeping providers, such as FreshBooks and Xero, we note that all three have a 30-day free trial to test the system out.

More accuracy in less time

This is important to note since you’ll want to make sure that it is capable of doing what you need in a manner that you understand and can digest. While QuickBooks Online is very popular among business owners, some have problems with the system. Problems stem from the complexity of making simple fixes, such as miscategorizations or duplicate entries. Support is limited, so users are left reading help articles rather than getting a live person to help. QuickBooks Online made it to our Best Accounting Software for Small Business list because it is a comprehensive platform that checks all the boxes for accounting, invoicing and expense tracking.

  • Finally, AccountEdge Pro integrates with UPS, so you can easily ship products using a variety of UPS services, track shipments, and provide customers with a tracking number.
  • If you operate in multiple international locations QuickBooks allows you to accept payment in local currencies.
  • Support your fastest-growing clients and accelerate your work with our most powerful cloud edition - Quickbooks Online Advanced.
  • It also gives you bill management and collects employee time for invoices to add them for proper billing.
  • Perhaps the most important task in QuickBooks Online is the initial setup process.
  • Its range of features can support very small operations as well as growing companies that need granular reporting tools to assess different areas of their business.

Close your clients’ monthly books with increased accuracy and in less time with new month-end review. You can take a printout of all the information your accountant needs to prepare the returns and ship it to them easily. However, automatic bill tracking does not mean you cannot do that manually.

Additionally, you’ll learn how to write off bad debts, which are recorded as an expense in QuickBooks. Today’s leading accounting platforms offer standard security features such as data encryption, secure credential tokenization and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more. The QuickBooks Online plan that’s best for you largely depends on the number of users who will be using the program, the size of your business and your particular needs.

quickbooks accounting