Which Version of QuickBooks Is Best for Your Business?

Wondering which version of QuickBooks is the best for your business? Here's everything you need to know about this. 

A short introduction about Intuit QuickBooks

It's been 25-years since Intuit introduced its flagship product, QuickBooks. It is currently one of the notable accounting and bookkeeping software for good reason! Besides its one-of-a-kind suite of capabilities, its other major attractions include receipt capture and 24/7 chat support. 

Does your business work with PayPal, Shopify, and Square? If so, Quickbooks easily integrates with all these platforms too! All this makes the software a crowd-pleasing small business accounting tool. It has a total of five plans to suit everyone's requirements and budgets. 

Furthermore, QuickBooks has decent versions for freelancers, small businesses, and enterprise-level businesses. You can further choose between its online and desktop versions. However, QuickBooks Online is less expensive than its desktop edition. As a thumb rule, it's best to purchase a lower tier of QuickBooks having a low starting price and upgrade it later to an advanced version as needed.

Comparing different versions of the software is a daunting task, especially if you've never used such software before. To help you with this, I dug into the details of each version of QuickBooks in this guide. So, let's start. 

Related post - Xero Bookkeeping

QuickBooks Online - Your business's best companion

As said earlier, QuickBooks Online is less expensive than its desktop edition. Thus, it makes no sense to discuss the latter here. Even Intuit prefers its users to maintain a distance from desktop products and stick with the online versions. 

QuickBooks Online Software Advantages 

There are several advantages of using the QuickBooks cloud-based or Online version. These include:

• less expensive,

• compatible with mobile devices,

• gives freedom to users to upgrade or downgrade at will,

• being cloud-based, users don't have to run updates in-house, among others.

Which version of QuickBooks Online should I get?

The software giant Intuit offers lots of packages with different names and slightly different terms and features as you'll find below. 

• Simple Start

The Simple Start version of QuickBooks is suitable for only single users. Thus, if you have employees, you can skip this version. Its pricing begins at $12 a month. The various features of the Simple Start plan include:

1. ability to track sales and sales tax

2. invoice and accept payments

3. store and organize receipts

4. track income and expenses

5. maximize tax deductions

• Essentials 

In Essentials, there is access to three users at $20 per month. In addition to what you get in the Simple Start plan, you additionally get:

1. more reports baked in

2. tracking payment statuses

3. paying multiple vendors at the same time

Thus, the Essentials is a little boost from the Simple Start package. 

• Plus

According to Intuit, the Plus is the most popular and widely used plan of QuickBooks Online. Its subscription starts at $35 per month and is accessible to up to 5 users at a time. Besides its common features as the Simple Start & Essentials plan, the ability to track inventory and project profitability are some additional features of the Plus plan. 

• Advanced

As the name suggests, the QuickBooks Advanced plan is suitable for more enterprise-level companies than small businesses. It starts at $75 per month and supports up to 25 users. 

Its value-added features include - 

1. dedicated account manager

2. business analytics

3. ability to import and send batch invoices,

Final words

These are the different versions and plans you can choose from while switching to QuickBooks to boost your business.