If you are looking for a small business accounting solution, QuickBooks is one of the best and most popular options available today. QuickBooks software tracks your business’s financial activities so you can analyze your bottom line and anticipate funds needed for future endeavors. QuickBooks comes in various versions with varying costs and features, which means what you get out of software may differ depending on the version.
QuickBooks Online Pricing Plans
QuickBooks Online has four basic price tiers, and you can pay extra for a number of add-ons.
Each plan comes with a 30-day free trial, so you don’t have to sign up if you don’t want to. This feature lets potential customers try out the service before they decide to buy it. If you don’t start with the free trial, QuickBooks is now giving you a discount on the first three months of your subscription.
Self-Employed plan
People who work for themselves should focus on the last method. Only one person can use this service at a time, and it only works for one person. It costs $15 per month.
This plan is for freelancers who report their income to the Internal Revenue Service on a Schedule C form.
The smartphone app lets you manage your income and expenses, take pictures of your receipts, figure out your quarterly taxes, send out invoices, get paid, make simple reports, and track your mileage, among other things.
The Self-Employed plan does not include monitoring of sales and sales tax, but the Simple Start plan does. The Simple Start plan lets you do things like create and send estimates and keep track of 1099 contractors.
Simple Start plan
The QuickBooks Simple Start plan costs $25 per month and only lets one person use it. If you don’t use the free trial, you’ll only pay $12 per month for the first three months.
This method is especially helpful for small businesses, like one-person businesses or basic partnerships. Accounting software that doesn’t have as many features as that of a big company could still be useful for someone who wants to keep all of their financial information in one place.
This plan has all of the same features as the Self-employed Plan, plus a wide range of useful tools, such as basic bookkeeping and budgeting.
You might keep track of your fixed assets, for example. Creating a supplier database and purchase orders may also help you improve how you manage your accounts payable.
You can also keep track of who owes you money by making a list of your clients and keeping track of payments that are late from those clients.
Lastly, you can start figuring out your cash flow and making budgets once you have information about your clients and suppliers.
You can make as many invoices and estimates as you want, keep track of your expenses, and manage your business connections all in one place. You can also hire up to 1,099 independent contractors, which is a nice bonus. You can add real bank feeds to your account through a variety of third-party connections.
Even though reporting tools are part of the Simple Start plan, they have a lot of limits. You can also use vehicle tracking if you need to make a bill for gas and driving time for a project.
Essentials Plan
Compared to the Simple Start plan, the Essentials plan costs $40 per month, covers three users, and lets small businesses do a wide range of accounts payable-related tasks.
It is a great choice for a small business that is growing and has a growing number of customers and employees.
You can keep track of all the money owed to your organization by managing invoices, setting up regular invoicing, tracking costs, recording payments in multiple currencies, and scanning bills.
A brand-new feature of this app is called “time tracking.” This program lets customers and employees be given billable hours, which can then be added automatically to their bills. There are two ways to add these hours: by hand by management or, if the manager so chooses, by the employee in question.
Plus Plan
The QuickBooks Plus plan costs $70 per month for five people. It has more advanced features than the Essentials package and can be used by more than one person.
The Plus package is best for medium-sized businesses that have a wide range of clients and need to keep track of billable hours for all of them. This method could be very helpful for companies with a lot of inventory or a growing number of projects in progress.
Another big benefit of this method is that it lets you keep track of how profitable certain projects are. Users can look at all of the costs of their projects, such as labor, payroll, and other costs, through a single interface. You can keep a close eye on how profitable a project is and use that information to make reports.
With the Plus plan, you can keep track of both the prices and the availability of products, and you can also get automatic reminders when you need to reorder. This method is also good in a number of other ways. You can sync product data using Excel imports or online marketplaces like Amazon, Shopify, or Etsy.
Advanced Plan
On the other hand, the QuickBooks Advanced plan costs the most, but it has the most features. For $150 per month, there is room for up to 25 people.
QuickBooks Advanced is recommended for enterprise-level businesses because it can handle more users and has more features. Both of these things help large businesses run better.
Services like a dedicated account manager and online training classes are available to clients.
Batch imports are also possible, so a single user can make several invoices, checks, costs, or bills, update them all at once, and send them all at once. You can also set up important accounting tasks to be done automatically, like sending reminders to make payments or deposits. Invoices can be sent through approval processes that have already been set up, and clients can be automatically notified when payments are received.
Data from many businesses can be put into a single report that can be used to compare and analyze different businesses, clients, or franchisees. You also get premium programs like DocuSign, HubSpot, Bill.com, and Salesforce as part of your membership.
QuickBooks Additional Fees And Features
But there’s more: For a low monthly fee, QuickBooks customers can buy a number of useful add-ons. First of all, payroll processing is a useful feature for companies with a lot of employees, but it is rarely part of an accounting software package’s standard features. Payroll processing is hard and takes a lot of time.
Payroll
You can choose between the Core, Premium, and Elite plans when you sign up for QuickBooks Payroll. Each new plan comes with more features than the one before it. The following is a list of prices and features for your convenience:
- The base monthly fee is $45 per month, and each new employee costs an extra $4. These are the main parts of this strategy: As part of the payroll process, the company sends out tax forms and offers benefits like health insurance and worker’s compensation.
- The cost of the premium plan is $75 per month plus $8 per employee. You have more control over your paychecks with automated workflow and role-based access, but you can still do direct deposit and time tracking on the same day.
- The Elite plan costs an extra $10 per employee per month on top of the $125 fee. As part of this service, a skilled expert is available to help with installation and fix any problems that might come up.
If you’re not sure which plan to choose, start with Core and see if it meets your payroll processing needs before making a final decision.
QuickBooks Live Bookkeeping
Even if you pay for QuickBooks, you won’t get the most out of it if you don’t know how to use it well. More than just software is needed to keep your books in order. The QuickBooks Live Bookkeeping service solves this problem by connecting a business to a real-time, qualified professional who keeps the business’s accounting records up to date. The expert will be in charge of classifying transactions, balancing accounts, making monthly reports with an income statement and a balance sheet, and closing the books.
The monthly cost of a custom plan can be anywhere from $200 to $600, but it’s more likely to be in that range. Prices depend on how big your business is.
QuickBooks Setup Fee
Do you worry that it will be hard to set up your QuickBooks account? You can talk to a qualified professional for an hour for $50 through QuickBooks Live Bookkeeping.
One-time steps like linking your bank account and setting up a series of automated procedures and templates are part of the installation process and should be done correctly from the start. You can meet one-on-one with a Live Bookkeeping tutor. During this webinar, your questions about how to subscribe to accounting software will be answered.
QuickBooks Capital
There is also QuickBooks Capital, which is a way for customers to get financing from the company. If you have a QuickBooks Online account, you have a good chance of qualifying. However, you will still need to show that you meet the requirements based on your past accounting experience.
Tax Forms & Support
Customers of QuickBooks can pay a small fee to get tax forms from the company itself. Some of them are sold in packages with envelopes. Here are the prices for each:
- You may get started for $26.99 for ten W-2 kits.
- 1099-MISC Kits can be bought for as little as $58.99.
- W-3 is sold in packs of 10 for $17.99.
- A ten-pack costs $17.99, or 1096 dollars.
Customers of QuickBooks can no longer file their sales tax forms online. In the future, you’ll have to do this by hand, and then you’ll have to add the new information to your QuickBooks account.
In some situations, the printed forms may be part of the Payroll plan at no extra cost. Also, both the Premium and Elite plans allow state-specific documents for newly hired employees to be sent automatically.
Checks
QuickBooks gives you both digital checks and paper checks. On sale are the following items:
- A bundle of 50 standard checks can be bought for $56.99.
- A package of 50 checks costs $43.99.
- For as little as $58.99, you can buy a bundle of 300 handwritten checks.
- For as little as $39.99, you can buy a set of 120 Secure Plus Personal Checks.
- You can buy 50 Secure Plus Voucher Checks for as little as $66.99.
- If you pay $72.99, you’ll get 50 Secure Premier Voucher Checks.
What do you think about the topic? They probably won’t be accepted because they are much more expensive than checks from other companies that do the same thing.
If you are worried about the safety and security of your business, the extra cost of the “Secure” brand of checks, which protect against all types of fraud, may be worth it.
QuickBooks Online vs QuickBooks Desktop
QuickBooks Online is a version of the accounting software QuickBooks that you can use online. It uses the cloud. If you use QuickBooks, you can get to all of your information from anywhere and on any device. On the other hand, the QuickBooks Desktop application is installed locally and costs a fee to use.
But there are some other things that must be thought about. If you use QuickBooks Online, your data will be kept safe by the company. Since QuickBooks Desktop is installed on your computer, you are responsible for its security in every way.
When you sign up for QuickBooks Online and choose the right plan, you will be charged a monthly subscription fee. There are two ways to get a QuickBooks Desktop license: a free trial for three years or an annual upgrade fee.
The most expensive QuickBooks Online package lets up to 25 people use it at the same time. QuickBooks Desktop Pro lets you add up to three more users, but if you need more, you have to pay an extra $299 per person. Each of Desktop Premier and Desktop Enterprise can have up to five users at a time.
Also, QuickBooks Online has more automation tools for small businesses that may make it a better fit. Your business will work better if you can get as much of the work done by software as possible. Because of this, QuickBooks Desktop’s user interface is not as easy to use as that of QuickBooks Online.
Integrations & Payment Gateways
Even if you’re a one-person operation, you’ll require papers. But if you have the right accounting software, it may be easy and quick to send out invoices and report tax information. Because QuickBooks has so many connections and plug-ins, this method is much easier than it would be without them. PayPal, Shopify, and MailChimp are just a few of the services that QuickBooks works with.
QuickBooks Online Integrations
There are more than 650 connectors for QuickBooks, which lets you connect your account to a wide range of useful third-party apps and services. You might already use some of these services, like Google G Suite or Microsoft Office 365, or you might want a feature that QuickBooks doesn’t have. If this is the case, you should think about what other choices you have. No matter what is going on, the right parts will make your organization’s operations run more smoothly.
Here is a short but complete list of the most common integrations with QuickBooks Online, along with information about how they work and how much they cost:
- PayPal has made it easy and free to import sales, fees, taxes, tips, discounts, and other information from PayPal into QuickBooks. PayPal can also be used to print out sales receipts.
- Square lets you import transactions into QuickBooks for free, check transactions that have been imported, and use Square in a number of places.
- Shopify will let you import all of your sales data into QuickBooks for free.
- TSheets, which used to be called QuickBooks Time, lets you track the exact time for payroll processing for an extra $8 per user per month on top of a standard $20 subscription.
- The base price of $44 per month for Fathom includes an extra set of metrics and analytical tools.
- As part of automating payroll, Gusto automatically sends tax forms to federal, state, and local governments. At $39 per month plus $6 per employee per month, it’s a great deal.
- The data sync between QuickBooks and MailChimp is automatic and costs $7.99 per month. It works perfectly.
Housecall Pro makes it easy to keep track of projects and clients with features like scheduling and dispatching, customer relationship management (CRM), and automatic estimate and invoice generation.
QuickBooks Online Payment Gateways
You may also be able to connect to a number of other online payment processing firms through QuickBooks. There are two more payment systems that can be used besides PayPal and Square, which we talked about in the section on integrations.
Now, 25 different payment processors can be used with QuickBooks Online. If you want to do the work yourself, you can use QuickBooks Payments. There are several ways to pay for this solution, and each one has its own transaction cost.
- There is a 1 percent fee on all ACH transactions, up to a maximum of $10.
- 2.4 percent plus $0.25 for every swiped credit card.
- 2.9% of the total amount, plus $0.25 per bill
- 3.4% of the total price of the transaction plus $0.25 for each credit card entered
Some of the credit cards that can be used are MasterCard, Visa, American Express, and Discover.
QuickBooks Alternatives
On the other hand, QuickBooks has a number of bad points. If you want to see what else is out there, some of the most well-known companies in the field have recently put out some amazing deals on accounting software.
Which QuickBooks Online Version Is Right For Me?
Which QuickBooks Online package is best for you will depend on the size and shape of your business. The Self-Employed Plan is the best choice for a single entrepreneur who works as a freelancer because there are no other employees or sales to manage.
Simply Start Plan is a great choice for accounting software for small businesses. This package has invoices, estimates, bills, and taxes on sales.
If your business has grown to the point where it needs more automation and workers, you might want to switch to the Plus Plan. This plan has both monthly payments and a way to keep track of time. This kind of software is very important for any business that sells more than a few items.
The QuickBooks Advanced bundle is last but not least. Large companies that need more help should hire a dedicated manager or take part in virtual training sessions.
Frequently Asked Questions
Do I Need To Download Any Software?
QuickBooks is a program that runs in the cloud and can be used from any computer or phone. There is nothing that can be downloaded right now. To join, all you need is a working email address and a way to connect to the internet.
How Do I Pay For My Plan?
Visa, MasterCard, and American Express all have credit and debit cards that can be used here.
Can I Change My Plan?
You can choose which level of QuickBooks Online service you want to use.
Are There Discounts For Multiple Plans?
Plans with no limits can be bought, and people who qualify could get a discount. If you want to talk about your options, call us at +65 8001 204 517.
How Much Does QuickBooks Cost?
There are three different kinds of QuickBooks Online, and each one can be paid monthly or yearly. On each country’s website, the QuickBooks Online price section shows the most up-to-date prices for each package, which may change during the offer period (sometimes discounts of up to 70 percent will be available). This section has the latest information on prices for each country.
Is There a Free Version of QuickBooks?
If you’ve never used QuickBooks before, the company lets you try it for free for 30 days. Start the process of getting a free trial of QuickBooks Online by going to the QuickBooks website and making an account. To start your free trial, choose “Start Free Trial” from the drop-down menu and enter your first and last name, email address, cell phone number, and password. Then, click “Sign Up,” and from the drop-down menu that appears, choose “Free Trial.” Use the email address you gave and the password you just made to log in again in the future.
Does QuickBooks Have a Monthly Fee?
Since QuickBooks Online charges per transaction, its monthly price plan is much cheaper than those of most of its competitors. As long as you haven’t stopped being a member, you’ll be charged the current monthly fee every month. You can only switch from a monthly plan to a non-monthly plan once every 12 months. Also, you will only have to pay for things that are optional if you actually use them.
What Is The Renewal Price For The Quickbooks Online Plus Subscription After The 1st Year?
Go to your account to find out how much it will cost to renew your QuickBooks Online Plus membership. When you click on the “Gear Icon” on the “Profile” page, a drop-down menu will appear. Choose “Subscription and Billing” from that menu. The screen shows things like the status of your subscription and your billing information. Under “Billing Details,” which you can get to by clicking “Renew Your Subscription” from the drop-down menu that appears after the first year of service, you can find payment information for the next year.
Can I Buy QuickBooks During The Trial Period?
You can sign up for a paid membership at any time, even if you are still using QuickBooks for free. After the trial period is over, you will be charged the full price if you decide to keep the product. By clicking the “Gear Icon” on your profile and going to “Billing and Subscription” from the menu, you can see if you have already signed up for the service or if the trial period is still going. If you don’t buy a license before the trial period ends, you won’t be able to use the data you got during the trial.
What Is QuickBooks Online For a Simple Start?
There is also QuickBooks Simple Start, which is one level of membership for QuickBooks Online. The single-user edition of QBO is made for people who want to keep track of all of their income and spending in one place. With QuickBooks Simple Start, you can keep track of your income and expenses, make custom invoices and quotes, track VAT, and link your bank and credit card accounts. You could invite your accountant and give each person on your team their own set of tools to make it easier for them to talk to each other.
Can I Change My Plan?
To update your QuickBooks Subscription, all you have to do is log in to your account and click the “Gear Icon” on the toolbar. Choose “Billing and Subscriptions” from the “Profile Tab,” and then choose “Upgrade” from the drop-down menu that appears. Once you’ve chosen the product you want, click the “Upgrade” button. If asked, give the information for your credit card. Then you must check again to make sure everything is okay. Under “Billing and Subscription” in your account, click “Downgrade Your Plan.” If you can’t get to this option, please talk to the QuickBooks Online customer service team.
Do I Need To Download Any Software?
QuickBooks is a cloud-based accounting system that can be used at any time and from anywhere in the world on a variety of devices. At the moment, you don’t need to download any software. You can sign up for QuickBooks Online and choose a plan right from your web browser. After making an account in QuickBooks, you can check your account information when you log in. You can also use mobile and desktop apps to log in to your account from a variety of devices.
How Do I Pay For My Plan?
To use QuickBooks, you need a credit or debit card. Credit cards like Discover, Visa, MasterCard, and American Express can all be used. The company does not accept checks, prepaid or gift credit cards, or cards that are not linked to a bank, PayPal, or other similar payment methods. If you don’t have a business credit card, you can use your own and get paid back later.
Are There Discounts For Multiple Plans?
Depending on which bundle you choose, QuickBooks could save you a lot of money. If you decide to buy something, you can save 50% on all QBO plans for the next three months if you do so. Also, if you choose the yearly plan instead of the monthly plan, you save 10 percent on your total cost. Taxes like sales and service tax are already built into the price (SST).
Does QuickBooks Have a Yearly Fee?
QBO charges you once a year for QuickBooks Essentials, QuickBooks Simple Start, and QuickBooks Online Plus. Enter your account information, click “Subscribe Now,” fill out all of the required fields, and then choose “yearly billing” from the subscription summary. Click “Subscribe” to finish the process. If you don’t cancel your membership now, your credit card will be charged once a year at the rates that were in place when you joined. Any time during a 12-month period, you can switch to a monthly payment plan.
Can I Buy QuickBooks Without Subscription?
Customers can’t pay for QuickBooks Online just once. Instead, they have to sign up for a monthly subscription. Users can sign up for all three subscriptions—QuickBooks Essentials, QuickBooks Simple Start, and QuickBooks Online Plus—using QBO’s monthly or annual billing options. After making a QuickBooks account and during the first 30 days of the free trial, you can sign up for a premium subscription plan.
Does QuickBooks Software Prices Vary from Country To Country?
Customers can use QuickBooks Online in a number of countries around the world. There may be big differences between countries in terms of how to use it, how it works, how much it costs, and what services are available. Choosing a plan for Quickbooks affects both the price of your subscription now and the price of renewing it. Go to the Quickbooks website for your country to get the most up-to-date information on prices and plans.
Where Can I See all QuickBooks Online Plans Online?
Customers can use QuickBooks Online in a number of countries around the world. Go to the QuickBooks website to find out about the latest version of the QuickBooks Online Plans and the current price of the QuickBooks software package. In the “Plans & Pricing” section, you can see a list of all the QuickBooks Online plans, along with their features, current prices, and any specials or discounts that may be available. You can also check the websites of individual countries to see if QuickBooks Online’s 30-day free trial is available in your area.
Conclusion
While QuickBooks Online is still the most widely accepted accounting software, you do need to consider many factors before you make that decision. First and foremost, you need to do some planning and figure out how much of your accounting will be completely outsourced to QuickBooks. Will it be all or just a portion? You’ll also want to take into consideration the size of your business and its needs. Lastly, you’ll want to consider other QuickBooks Online reviews that are available on the web from customers who have used this product. There are both positives and negatives mentioned in these reviews and it’s always a good idea to check them out before making any final decisions about QuickBooks Online.
