QuickBooks Online is an affordable and easy to use accounting software package marketed towards small to medium sized businesses.
QuickBooks Online consists of four service tiers, each one to accommodate different types of businesses.
The software has a variety of features to be utilized by small businesses, freelancers, consultants and more.
QuickBooks Online is one of the most widely used accounting software products for small business and is the perfect choice for businesses that are growing and expanding quickly or for businesses which intend on expanding in the future.
QuickBooks Online strives to simplify small business accounting by providing users with comprehensive access to their accounting data as well as the ability to edit, create, duplicate and share information with specific individuals both internal and external to the business.
The software allows complete access to up to five users and limited usage to an unlimited number of users, for example, an external accountant will have access to the system at no extra cost.
Your complete business profile will be automatically synced to a single dashboard which provides multiple users an in-depth view of the financial health of your business.
Quickbooks Online Accounting Software
One reason QuickBooks Online is so popular is because of how easy it is to use (see video).
The dashboard interface is intuitive, and the side menu makes it easy for the user to find specific features. The dashboard provides a quick and easy overview of the financial status of the business.
Furthermore, QuickBooks Online has many timesaving features such as automations, built-in reports, automatic backups, electronic invoicing, integrations and a mobile app which allows the user to view their businesses finances away from their desktop. The app is available for both Android and iOS.
Another reason why QuickBooks Online is the accounting software of choice is because it contains all the features accountants deem important and thus is utilised by most accountants. If the user is unfamiliar with the software QuickBooks Online provides users with several support channels from which they can get help. These channels include but are not limited to phone and chat support directly through the website as well as articles, videos, guides or one-on-one in-person assistance.
Business owners are able to create a hierarchy within QuickBooks Online by being able to limit the number of features certain users have access to.
Pricing
QuickBooks Online is affordable with the Self-Employed package at $10 followed by the Simple Start package at $15p/m, the Essentials package at $40p/m and finally the QuickBooks Plus package at $60p/m.
The QuickBooks Plus version is the most popular package.
Pros
- User friendly. The colour-coded interface allows the user to easily find what they are looking for. Users are also able to access everything they need on one page.
- Built to serve a wide variety of users.
- Hundreds of add-ons.
- Customization of invoices and emails through the app as building a brand for your company is important.
- The user can send unlimited invoices via email which makes receiving payments more efficient.
- The mobile app makes it easy for users to access their dashboard on the move.
- Users are able to link their bank accounts and credit cards to QuickBooks Online, making online banking easier.
- QuickBooks Online is a cloud-based system that works well with third party apps, optimising efficiency.
Cons
- Beginners may have a hard time learning how to use the program.
- Internet is needed to access QuickBooks Online, so if the internet is down the user will not be able to access their information.
- The number of users who can use the app is limited.
- The add-ons are not included in the original price and can be expensive.
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Main Features
- Users are able to track bills and their due dates.
- Users can create customised business reports.
- Bank transactions are imported and organised.
- Business expenses are tracked throughout the year.
- Users are able to use their mobile phones as a scanner and scan receipts onto the app.
- Estimates and quotes are easily created for prospective customers.
Final Say
Using QuickBooks Online over other accounting software makes sense for small business owners as it is one of the most widely used accounting software. The software is easy to navigate, and it is the top choice for most accountants as it contains everything one would need to run a successful business and keep track of a company’s payments and expenses in the most efficient way, as users have a comprehensive overview of their company’s financial data.
The customisable features are another big plus, such as being able to import the company’s logo onto invoices. This function makes it easy for businesses to create a professional brand.
The ability for external accountants to have access to the system at no extra cost means business owners are able to keep track of their business finances whilst simultaneously ensuring the accounting of their business is accurate and professional.
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