QuickBooks Review [Online Accounting Software 2021]

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QuickBooks Review

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QuickBooks Online

QuickBooks Review

QuickBooks has been around for many decades, and it is one of the best accounting software on the market.

If you need to create customizable invoices, reports, manage the inventory, and many more, this software can be adapted to many types of businesses.

There are numerous features and several platforms with different functions, such as QuickBooks Enterprise, QuickBooks Desktop, and QuickBooks Online.

Check the following sections for an in-depth QuickBooks review that covers the essentials parts of this all-in-one solution. 

Onto our QuickBooks review!

QuickBooks Review

QuickBooks Versions – Features and Functions

QuickBooks has three main versions: QuickBooks Online, QuickBooks Desktop, and QuickBooks Enterprise. QuickBooks online is ideal for small businesses in need of an easy-to-use cloud accounting system with mobile app integration. 

QuickBooks features and functions are extremely broad as they cover all accounting basics, including contact management, invoicing, expenses tracking, project management, accounts payable, budgeting, and many more. QBO is easy to use and comes with up to 25 users. What makes it great for small business owners is the QuickBooks Live Bookkeeping feature which is unique to this plan. 

If you need QuickBooks for contractors, QuickBooks Self-Employed is ideal for freelancers who want to manage their finances. It is also cloud-based and has specific features, such as estimated taxes, filing Schedule C, and can even track deductions. It can also be used to track separate business and personal expenses. 

QuickBooks Desktop is a locally-installed software with more developed features which include lead management, project management, invoicing, and many others. It is a great software solution for small businesses. 

QuickBooks Enterprise is suitable for corporations in need of more complex accounting solutions. It also features industry-specific versions, but it is more expensive than other options, so it is ideal for larger firms

If you are wondering which QuickBooks is best for nonprofit, QuickBooks offers Premier NonProfit, a cheaper alternative to QuickBooks. This can be customized to suit non-profit organizations’ needs. 

All plans also feature QuickBooks GoPayment, a mobile app that allows businesses to manage their payments easier. There are no upfront costs or subscriptions, so it offers full flexibility. Additionally, this is automatically synced with QuickBooks. 

Is QuickBooks Free?

There are five QuickBooks subscription plans for QuickBooks online which has a free 30-day trial, a demo of the Advanced plan, and a testing account of QuickBooks Plus. On the good side, there is no credit card required to take advantage of the free trial, and the contract can be canceled at any time. 

QuickBooks Pricing & Plans

The Self-Employed plan starts at $7.50 per month and it is ideal for independent contractors. QuickBooks Online Simple Start is $12.50 per month and includes unlimited estimates and invoices, expense tracking, reports, live bank feeds, mileage tracking, one user, and app integration. Quickbooks Essentials Plan is $20 per month and covers everything included in the Simple Start plan, along with three users, accounts payable, and a time-tracking function. 

The Plus Plan is $35 per month and includes everything above. Additionally, it has class tracking, inventory and project management, five users, and QuickBooks 1099 forms for tax support.

Finally, the Advanced plan comes with everything mentioned above, but also a few more premium features for $75 per month:

  • Custom user permissions
  • Up to 25 users
  • Priority Care
  • Customer success manager
  • A subscription for advanced analytics and reporting
  • QuickBooks training containing 5 classes

Additional services are also available:

  • Payroll. QuickBooks Online has payroll plans from $45 to $125 per month and between $4 and $10 per month per employee: Core Payroll, Elite Payroll, and Premium Payroll. 
  • Payment Processing. QuickBooks Payments offers payment processing and costs 2.9% and $0.25 per transaction when the payment is via card, 2.4% and $0.25 per transaction for card swipes, and 3.4% with a $0.25 fee for keyed-in payments. ACH transfers have a 1% charge which is capped at a maximum of $10. 
  • Invoice Templates. Custom invoice templates cost $4.99
  • Tax Returns. Tax E-Filing starts at $14.99
  • Bookkeeping. QuickBooks Live Bookkeeping costs between $200 and $600 per month and depends on the dollar amount of your expenses per month. 
QuickBooks Review

Which QuickBooks Is Right for Me?

This depends on your field of activity.  For instance, a freelancer could use QuickBooks Self-Employed because of the relevant features it offers, while small business owners may want to go for QuickBooks Online or QuickBooks Pro.

For a large corporation, QuickBooks Online (Advanced Plan) or QuickBooks Enterprise can offer all the accounting features required.

For a payroll solution, QuickBooks with payroll desktop can be used by a wide range of firms.

QuickBooks Pros And Cons

Pros

  • Different versions are available, ideal for any type of business
  • Both affordable and more expensive plans are available 
  • The interface is easy to use and understand 
  • Integrations with more than 650 apps 

Cons

  • QuickBooks Enterprise can be quite unintuitive 

QuickBooks Alternatives 

Quickbooks vs Netsuite

Netsuite offers enterprise-level applications that go beyond finance and accounting, so Netsuite is more suitable for a large business that has outgrown QuickBooks. For instance, NetSuite has a point of sale software, marketing automating and CRM software, e-commerce, warehouse management, and others. 

QuickBooks to Xero

Xero is one of the best alternatives to QuickBooks. This is because it is easy to use, and scores high on both functionality and user experience. Xero is often used by customers outside North America, and it is usually preferred by owners with a growing startup. 

Quickbooks vs Excel

Excel can be used for accounting, database, project management, and more, while QuickBooks is only about accounting and finance needs. Excel takes more time, but it is more permissive since it can be used for numerous other purposes. 

QuickBooks vs Freshbooks 

If you are wondering whether QuickBooks or FreshBooks is suitable for your accounting needs, there is no straightforward answer.

This depends on the type of business you have because both services are designed for specific needs.

QuickBooks is recommended for companies that sell products and require a fully-fledged, scalable accounting software.

On the other hand, FreshBooks can be a winning solution for service-based businesses or freelancers due to its simple reports and ability to track expenses with ease. 

QuickBooks Reviews: Parting Thoughts

If you have a business or you are a freelancer, there is a suitable and affordable plan for your needs. The flexibility of the software is perhaps its strongest selling point that makes it one of the most popular accounting and finance solutions on the market. 

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