QuickBooks Online Review 2024: Features, Pros & Cons

She holds a Bachelor’s degree from UCLA and has served on the Board of the National Association of Women Business Owners. She also regularly writes about business for various consumer publications. QuickBooks Self-Employed is ideal for freelancers, real estate agents, and independent contractors, like Uber and Lyft drivers. Similar to QuickBooks Online, it’s a cloud-based product that can be accessed with your secure login from any computer with an internet connection.

Meanwhile, QuickBooks Desktop is an on-premise software that needs to be installed on the computer where you use it and is available as an annual subscription. For more information about the differences between the two programs, read our QuickBooks Online vs QuickBooks Desktop comparison. QuickBooks Online integrates with hundreds of business applications available in the QuickBooks App Store. These integrated apps are designed to help you simplify the various aspects of your business, from bill management and payment acceptance to cash flow forecasting. However, because it’s integrated completely within QuickBooks, the sale, credit card fee, and cash deposit are all recorded automatically as they occur.

  • Features like autofill and memorized transactions also automate repetitive tasks.
  • With three distinct QuickBooks Desktop options, the pricing structure can be confusing.
  • QuickBooks Bill Pay lets you send checks and ACH bank payments quickly and easily.
  • QuickBooks Desktop Pro Plus is ideal for small businesses that need robust, locally-installed accounting software for up to three users.
  • Existing Intuit users should ensure their version of QuickBooks is running its latest version release before they begin inviting employees to use Workforce.

This section explores the core features like invoicing, expense tracking, reporting, bank reconciliations that enable users to control finances. QuickBooks is known for its customization, expense tracking, payroll management, and tax preparation. This is the reason small businesses often opt for QuickBooks over other cloud-based accounting software that performs similar functions. The user pays a monthly subscription fee rather than an upfront fee and accesses the software exclusively through a secure logon via a Web browser.

Step 3: Optionally Add QuickBooks Time (Formerly TSheets)

Don’t worry; even if your client is the primary admin, you’ll still get the billing notifications and your client won’t be able to access your billing information. You’ll also remain on their Ledger subscription as one of the QBOA admin users. Ledger is an accountant-only offering through QBOA designed to serve clients with basic, low-complexity accounting de minimus tax rule needs. Ledger is not a bookkeeping or accounting system, but is meant to work in conjunction with QBOA. QuickBooks always-on activity logs and audit trails are unmodifiable and record every login and transaction change. The audit trail provides a transparent history of changes to specific transactions, offering an electronic trail for accountability.

So we’ve covered how much QuickBooks Pro, Premier, and Enterprise cost and the additional fees to expect with each. If you need more mobility than this locally-installed software offers, you can sign up for the QuickBooks Gold with cloud access packages. QuickBooks Online and QuickBooks Desktop are great for online invoices and some in-person payments. Both keep track of your books, but can’t operate as a complete point of sale system.

QuickBooks Enterprise Gold

Our proactive security approach ensures immediate identification and prompt resolution of any potential issues. Intuit data protection employs advanced, industry-recognised security measures to maintain the privacy and protection of your information. You can set up new employees and invite existing ones to Workforce through the Employees section of your QuickBooks Payroll tab. From there, simply check the boxes next to employees you wish to invite to send them a notification to join Workforce to their email address. Your employees then just need to accept your invitation they receive to either create their own Intuit account or log in using their existing Intuit credentials.

Financial Leverage vs Operating Leverage

QuickBooks Online is an ideal product for professional, retail, or service-based businesses. While the software would continue to function for end users after that date, Inuit will no longer provide software updates for security and functionality. In addition to QuickBooks Online, Intuit offers a desktop product called QuickBooks Desktop, which is locally installed rather than cloud-based. QuickBooks Enterprise is the desktop lineup’s most robust plan — it allows up to 40 users and has industry-specific versions. To see which lineup is best for you, compare QuickBooks Online vs. QuickBooks Desktop plans’ main features and pricing.

Step 3: Upload Historical Paycheck Data

Note that you must first enter your bills in QuickBooks Online and then pay them online by clicking the + New button and then selecting Pay bills online. You can also create an invoice from scratch or by converting an existing estimate into an invoice. Then, customize the invoice by changing the color and adding your company logo. Allow me to share some insights about the supported banks in QuickBooks Online.

How to Post to Cash Basis Accounts Receivable in QuickBooks Sales Entries

Offering features from invoicing to payroll, it streamlines financial tasks, enabling companies to operate more efficiently. Its intuitive interface ensures that individuals can effectively manage their finances regardless of their accounting background. Currently, QuickBooks is offering two different specials; you can either try it free for 30 days or sign up and get a 50% discount on your first three months. Your chart of accounts in QuickBooks provides a complete listing of all the accounts you need to track your financial data. These accounts are useful for tracking income, expenses, assets, liabilities, and equity accounts that might be required on your tax return.

QuickBooks Desktop offers a 60-day money-back guarantee for anyone unsatisfied with the product. This is a good incentive to dig into the program and organize your books once you have the program and not wait. Integrations are third-party add-ons that give you additional features and capabilities. For example, software such as Shopify, QuickBooks Time, and Mailchimp are all integrations. QuickBooks Pro offers 244 integrations to choose from, QuickBooks Premier has 241 integrations, and QuickBooks Enterprise offers 247 integrations.

All QuickBooks Online products have the same interface, and so do all the QuickBooks Desktop products. There are also available free online training resources that you can use to get up to speed quickly. Read our review of QuickBooks Online to learn more about the tool. We compared its four plans in our QuickBooks Online versions comparison. The best thing about using QuickBooks Payroll is that it’s integrated with QuickBooks, so your financial statements are always up to date as of the latest payroll run.

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