It offers a mileage tracking facility where users can enter the trip data for automatic deduction calculation. QuickBooks offers multiple subscription plans suitable for different what is gross pay business sizes. QuickBooks Desktop is another version available for users who prefer desktop-based solutions. Companies that need to streamline invoicing, bill payment, financial reporting, and expense tracking will benefit from this software. QuickBooks Desktop is only available on a rental/subscription basis for users in UK and Ireland, and is to be withdrawn from sale with no desktop software replacement with the final version being the 2021 edition.
General Ledger and Accounts Receivable and Payable
Most small businesses should try QuickBooks Online. QuickBooks’ other cloud-based product, QuickBooks Self-Employed, focuses on freelancers and contractors who want to maximize end-of-year tax-write offs. There are six main QuickBooks products for small, medium, and large businesses.
Key Features of QuickBooks
It has a knowledge base that explains most topics step-by-step and a community forum where fellow users and experts are available 24/7 to assist users. QuickBooks caters to a large number of industries, such as accounting, administration, agriculture, construction, health, energy and materials, manufacturing, professional services, real estate, retail, and technology. Companies can add invoices, estimates, expenses, time, bills, purchase orders, non resident alien filed tax through turbotax etc., to store all the necessary information about a project in one place. Businesses can sync this app with QuickBooks Payroll to save time or manually enter employee time into projects.
For the 2008 version, the company has also added import from Excel spreadsheets, additional employee time tracking options, pre-authorization of electronic funds and new Help functions. In 2017, Intuit released QuickBooks 2018, adding features such as mobile inventory barcode scanning, multi-monitor support, search in the chart of accounts, etc. In September 2015, Intuit released QuickBooks 2016 that contains several improvements to the existing ones and new features such as batch transaction, bill tracking, continuous feed label printer support, batch delete/void transactions etc. On September 22, 2014, Intuit announced the release of QuickBooks 2015 with features that users have been requesting from the past versions. A June 19, 2008 Intuit Press Release said that as of March 2008, QuickBooks’ share of retail units in the business accounting category reached 94.2 percent, according to NPD Group. In May 2002, Intuit launched QuickBooks Enterprise Solutions for medium-sized businesses.
QuickBooks Payroll Pricing
All the desktop editions in this version have streamlined bank feeds, automated receipt management, rule-based customer groups, payment reminders, customized payment receipts, data level permissions, and batch delete sales orders. On September 17, 2018, Intuit announced the release of QuickBooks 2019 with some unique features requested by its users, including a history tracker for customer invoices, the ability to transfer credits between other jobs of the same customer, payroll adjustment feature, and more. The software was popular among small business owners who had inventory turnover ratio no formal accounting training. After the success of its Quicken product for individual financial management, the company developed similar services for small business owners.
Is there a better accounting product than QuickBooks?
Intuit’s Canadian, British, Australian divisions offer versions of QuickBooks that support the unique tax calculation needs of each region, such as Canada’s GST, HST or PST sales tax, VAT for the United Kingdom edition and Australia’s GST sales tax. On September 4, 2020, Intuit rolled out QuickBooks 2021 with improved payment process and automated features. On September 16, 2019, QuickBooks 2020 was launched with the aim to improve the reliability and experience of using the software. In September 2016, Intuit released QuickBooks 2017 with several improvements like automated reports, smart search and improved viewing of report filters among other things. It also says that more than 50,000 accountants, CPAs and independent business consultants are members of the QuickBooks ProAdvisor program.
- In contrast to QuickBooks Essentials, QuickBooks Plus is best for product-based businesses.
- Companies can add invoices, estimates, expenses, time, bills, purchase orders, etc., to store all the necessary information about a project in one place.
- QuickBooks is more than just an accounting tool; it’s a comprehensive software solution designed to streamline financial management for businesses of all sizes.
- Every time you open your company file in a new location, QuickBooks will write your changes to an existing TLG file or create a new one if one does not exist.
Online
In addition to the desktop solutions for Windows, QuickBooks offers a solution for Mac users similar to QuickBooks Desktop Pro. QuickBooks Point of Sale is a locally installed solution built for small retail businesses looking for the features of an ERP without the higher price tag. With these features, base-level QuickBooks software allows a single user to manage most business-related income and expenses. To discover a few apps to add to your QuickBooks accounting software, explore the 7 Best QuickBooks apps for complete integration. QuickBooks’ base products primarily focus on accounting only, lacking the industry-specific functionality some businesses require. The QuickBooks online version creates rooms for accessing multi-user collaboration on cloud-based bookkeeping settings, so it is actually the perfect solution for business owners who are always creating work on the go.
- It warns companies with low stock alerts and converts the purchase order into the bill when the inventory arrives.
- You can also collaborate with up to five users with QuickBooks Premier Plus.
- QuickBooks Online is an ideal solution for small to mid-size businesses in different industries that need a system to help them manage their finances.
- QuickBooks is known for being an affordable product that meets the budget requirements of small—to medium-sized businesses.
- QuickBooks made our Best Accounting Software for Small Businesses list because of its robust list of features.
- It’s a financial management suite that gives you the tools to support your employees and handle any detail of business management.
Accounting
Users can filter the expense data based on category, date, payee, status, and delivery method for easy understanding. It connects with bank accounts to automate income and expense tracking. QuickBooks also provides users with an idea about project profitability. Companies can set up rules to categorize recurring transactions and create custom tags for income and expense tracking. Hence, solopreneurs, SMBs, and startups can pick their suitable plans. These allow QuickBooks to fetch data, connect sales channels, and automate accounting tasks.
QuickBooks also has a free 30-day trial for you to test the software before committing. Here is a look at the features that are available with each plan. The desktop version is charged as an annual fee and requires you to manage updates manually. You can customize reports with filters and tags, save frequently used views and pin key metrics to your dashboard. QuickBooks includes dozens of built-in reports like Profit & Loss, Balance Sheet and Cash Flow.
The Best QuickBooks Products for Small Businesses 2025
Users can integrate it with 750+ business tools to enhance their workflow and efficiency. While QuickBooks is a pretty self-sufficient software, its power lies in its ability to integrate with different third-party applications. QuickBooks offers a mobile app, too, facilitating accessibility and convenience.
QuickBooks Pricing and Plans
QuickBooks users can perform a bank account reconciliation to compare transactions with bank statements. QuickBooks enables organizing, tracking, and paying bills from one platform. QuickBooks lets users view bills, expense claims, suppliers, and mileage separately.
Two of the midrange plans available are QuickBooks Essentials and QuickBooks Plus. Even though there’s no day-to-day interaction with the TLG file, you should be aware of its importance in relation to your QuickBooks company file. Afterward, you can delete the TLG file you renamed.
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(If collaboration without extra costs is important to you, providers like Xero include unlimited users with each plan.) You can also collaborate with up to five users with QuickBooks Premier Plus. QuickBooks Premier Plus and Enterprise offer QuickBooks’ only industry-specific plans. Plus, QuickBooks Self-Employed syncs with TurboTax (which is also owned by Intuit) to make tax filing a little simpler. Since it’s cloud based, QuickBooks Online is easy to access from any phone, tablet, or laptop. Now, all QuickBooks Desktop plans renew on an annual basis—you do not have the option to pay just once for three years of use.
The easiest way to better maintain your QuickBooks TLG file is to regularly create a local backup routine with complete verification from within QuickBooks. Since deleting your QuickBooks TLG file is far from an ideal solution, there is still a simple way to reduce the size and memory demands of your QuickBooks TLG file. Deleting the TLG file would also result in the permanent loss of data if any of your main files become corrupted.
QuickBooks Enterprise vs. QuickBooks Online
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. 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 2013, Intuit announced that it had rebuilt QuickBooks Online «from the ground up» with a platform that allows third parties to create small business applications and gives customers the ability to customize the online version of QuickBooks. The cloud version is a distinct product from the desktop version of QuickBooks, and has many features that work differently than they do in desktop versions.