QuickBooks Review - Top 5 Accounting Software

QuickBooks Review

flag The #1 software for small businesses
  • Save an average of over $2,100 per year
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  • Cloud-based and accessible on multiple devices
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Support
9 /10
Good For
Tax compliance
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  • author: Ethan Willse
  • 12.08.18
  • Comments

Rating

  • "Price"
    8 /10
  • "Features"
    9 /10
  • "Ease of USe"
    8 /10
  • "Help and Support"
    9 /10

Overview

With over 7 million users, QuickBooks is one of the most popular accounting platforms for small and mid-sized businesses. Although it still offers a desktop version, the majority of business owners favor the cloud-based QuickBooks platform, which can be accessed on practically every device. Coupled with easy accessibility, this accounting platform also has various plans available, depending on the size and needs of your business.

Cyber Monday Sale:

  • 70% off QuickBooks Online for 3 months*
  • Offer valid from 30th Nov to 4th Dec,2020

 

Plans & Pricing

As one of the most-used accounting platforms in the world, it’s no surprise that QuickBooks has competitive prices that make them a more desirable choice over other industry providers. Right now the brand is running a special price of up to 50% when you buy now.

All plans come with what Quickbooks lists as their “base features”: track income & expense, invoice & accept payments, maximize tax reductions, run reports, capture & organize receipts, send estimates, track sales & sales tax, and track miles. Customers can also add full service pay roll services to any level plan for $22.50 per month + $4 per employee per month.

 

Simple start

$12 per month for the first three months, $25 per month afterward. The first of the small business options is the Simple Start plan. With nearly all the features of the Self-Employed plan, the Simple Start also has additional tools for tracking sales, maximizing tax deductions, and sending estimates that can later be converted to invoices. This plan is best suited for sole proprietors, as it only allows one user.

Essentials

$20 per month for the first three months, $40 per month afterward. Intended for small-sized partnerships and non-profits, the Essentials plan comes with all the benefits of Simple Start, plus a few additional features like bill management and time tracking. Furthermore, this plan allows up to three users to access the QuickBooks platform. If you have multiple employees, this package is especially useful because you can clock employee time and automatically add it to invoices.

Plus

$35 per month for the first three months, $70 per month afterward. The Plus plan, intended for small to mid-sized corporations, partnerships, and non-profits. This plan comes with all the features of the Essentials plan, plus the ability to track projects, inventory, and manage 1,099 contractors. If your business is continually taking on new ventures, you can see how much you’re making on each one and allocate all expenses and unbilled work to the specific project. Together with the more advanced features, this plan also allows up to five users.

Advanced

$75 per month for the first three months, $150 per month afterward. The Advanced plan is a great option for larger scale businesses or organizations. This plan comes with all the features of the previous plans, with the addition of business analytics and insights, custom access by role, automated workflows, enhanced custom fields, and more. In addition, customers get the support of a dedicated account manager, on-demand training, and the ability to restore company data. This plan includes 25 users.

Simple Start
$12/month
Essentials
$20/month
Plus
$35/month
Advanced
$75/month

Features and Functionality

Custom Invoices, quotes & payment tracking

The invoices and payments feature allows users to create custom invoices, accept payments from clients, and monitor past-due invoices. It is extremely easy to convert estimates to invoices, set up recurring invoices, and set automatic invoice reminders. There are also options to include tax, discounts, and shipping costs, all while Quickbooks keeps track of how much you earn and owe.

Business Insights

Easily view profit & loss, balance sheets, and other easy-to-read visual reports in one click. By connecting your bank and credit card accounts you can view accurate cash flow insights instantly.

Mile tracking

The mile tracking tool is available with the Self-Employed plan and uses your cell phone GPS to automatically track distances. It also allows you to categorize the miles and then deduct them from your taxes.

Project tracking

Available with the Plus plan, QuickBooks lets you analyze the revenue and expenses of a particular venture to aid in long-term decision making for your business. Since the plan allows up to five employees to access the platform, all project stakeholders can easily see its successes and pitfalls.

Payroll processing

For an additional charge, full payroll services can be added to any level plan. This includes full-service payroll and pay employees via next-day direct deposits. The platform also stores W2 forms and provides automated tax filing.

Cloud Accounting & Data Security

Quickbooks is a cloud based platform. This means all of your information stays stored in the cloud and can be accessed at anytime from any device. Everything is protected by bank-level security to ensure that your data is only accessible to you or those you choose to share it with.

Ease of Use

Although it’s not rocket science, familiarizing yourself with QuickBooks does take some effort. The platform itself is set up almost instantly. As with all accounting platforms, you will need to set up your company at the beginning. Once your company information is added, you’ll find that the interface is clean and easy-to-use, with a navigation bar on the left-hand side and a simple layout. There’s also a search bar where you can find transactions, contacts, and reports.

Don’t be scared away if the dashboard seems foreign to you; QuickBooks has a rich library of tutorial videos to help you get up and running. Since it’s such a popular platform, there are numerous how-to videos on YouTube and other third-party sites. If you prefer to learn in-person, Intuit hosts two-day classes in various cities throughout the United States.

Add-ons and Integrations

Intuit carefully designed QuickBooks so that it could be integrated with multiple applications and platforms. Below is an outline of some of the essential add-ons and integrations that make QuickBooks so powerful:

  • Import transactions from PayPal, Square, your bank, and other financial institutions
  • Link Shopify and other e-commerce platforms to track both sales and sales tax
  • Process payments with mobile credit card readers or POS
  • File both federal and state payroll taxes directly from your dashboard
  • Download the QuickBooks app on both Androids and iPhones
  • Link with Bill.com to automate your accounts payable process
  • Sync Method: CRM to keep track of all customer interactions

Pros & Cons

  • Full access from desktop or mobile apps
  • Information stored in the cloud and highly secure
  • Direct connection to bank and credit card accounts
  • Customizable reports and dashboards
  • No contract required
  • No 24/7 support
  • Limited amount of users
  • Payroll is an extra cost

Customer support

The team at QuickBooks is available via chat and phone 12 hours per day during the week and between 6 am and 3 pm PCT on Saturday. All level accounts come with unlimited customer service, and the advanced plans come with a dedicated account manager.

Along with technical support services, there’s a detailed FAQ page with questions ranging from payroll to backing up data. If you’re a visual learner, there are countless tutorial videos both on the company’s official website and YouTube.

  • Phone Support
    The company offers phone support during business hours.
  • Live Online Chat
    Online chat support is available for all your inquiries.
  • Video Tutorials
    Various video tutorials are available both on QuickBooks’s official website and on YouTube.
  • FAQ
    The company’s website has a comprehensive FAQ page.
  • Blog
    The Quickbooks support page is full of helpful articles.

Final Word

Often regarded as the industry standard, QuickBooks is a powerful accounting tool for small to mid-sized businesses. From inventory management to financial reporting, the various plans available make it easy for you to find the right fit for your business.

The cloud-based platform is user-friendly and continually being improved with new features and add-ons. With tons of help resources available online, you’ll never be left in the dark. Not only will QuickBooks take away the headaches of pen and paper bookkeeping, but it will also give you more time and tools to analyze the profitability and success of your business.

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Ethan Willse>
Ethan Willse
author

Ethan has a degree in accounting from Iowa State University and works as a Staff Accountant in the insurance industry. When he’s not crunching numbers at his job, he enjoys writing and learning more about financial markets.

This review is based on the writer's personal opinion.

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Questions & Answers

Guest
Mitchell D.

I’m looking for something that can help me with taxes. Does this quickbooks create and process tax forms, like W-2s?

answer
Yes, you can process and file W-2 forms using the Online Payroll function. However, Intuit Online Payroll, in-product support for federal forms is available only with an Enhanced level subscription (or a Basic subscription that started before April 1, 2013).
Guest
Jeff Stern

Will mine and my customer’s financial information be safe? What kind of security does this software have?

answer
Yes, Quickbooks Intuit comes with free mobile apps for both iOs and Android.
Guest
Vanessa Adams

Is this software secure? Will my financial information be safe?

answer
Quickbooks Intuit takes security very seriously and has introduced new and enhanced security measures designed to help safeguard customers’ sensitive information and fight fraudsters, and they continually perform internal risk assessments as well as external security audits to maintain security in all their products and services.

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