QuickBooks Review - why 4.2 stars?

Shlomi Lavi / updated: Oct 16, 2022

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What is QuickBooks?

QuickBooks Online is a core accounting software solution for businesses of all sizes. The software is helpful in all aspects of accounting and is loaded with an array of functionalities, some of which are discussed below:

• Platform: QuickBooks Online comes with an interface upon which most of its features are built, giving the user access to various functionalities all from one interface. Users can view and share their bookkeeping records live on a beautiful and easy-to-use interface.
• General Ledger: With QuickBooks Online, small and large business owners can keep track of all financials, document and record details securely, and organize financial records seamlessly.
• Integration: QuickBooks Online links well with other applications, meaning users never get to leave the interface to use their favorite accounting tools.
• Inventory Management: For businesses that deal with product sales, QuickBooks Online helps owners track products, the number of goods available, vendors, and create purchase vendors.
• Accounts (Payable and Receivable): QuickBooks Online helps users receive and make payments, send invoices, monitor payments, manage taxes and run onsite business transactions, earning interest on savings.
• Reporting And Analytics: With QuickBooks Online, users can create custom reports to gain business insights and track successes and failures. Balance sheets, profit-loss statements, and other reports can be drafted, and even charts displayed to give business owners proper insight.

Small business owners, freelancers, and large businesses can all use QuickBooks Online. Intuit, based in Mountain View, CA, offers the software. Intuit is a Microsoft-owned company with over 10,000 employees. The software provider is recognized as a Top 100 US Companies Supporting Health and Families. QuickBooks is used by over 4.5 million users globally.

Who is it best for?

The software application has actually specifically been made for tiny and medium services. It can be released in a selection of significant industries including retail as well as wholesale, economic services, automation and also manufacturing, medical care and hospitality, media as well as innovation, as well as others.

Main features and functionalities

The software application uses comprehensive monitoring of earnings and also costs and assists in development and also sending of a limitless variety of estimates and invoices. Bank account integration is supplied to download deals from financial institution and also bank card accounts.

Checks can be published and purchases tape-recorded along with importing of data from Excel or QuickBooks desktop. The software application additionally uses automated online data backup and safety and security and file encryption level of financial institutions. QuickBooks Online promotes creation of persisting routine for automated setting up of invoices.

Sales as well as success can be compared with sector patterns and also costs as well as repayments can be set up for later times. Other important capabilities include purchase order administration, supply monitoring, monitoring of billable hours, budgeting and also forecasting, integrated service records, and also others.

What is the actual cost?

QuickBooks Online pricing offers five different plans for individuals and businesses. Self-Employed, Simple Start, Essentials, Plus, and Advanced are the packages available for subscription.

The Self-Employed option is priced at $15/month, offering basic features for individuals. The Simple Start option is priced at $12.50 monthly and is ideal for smaller businesses. The Essentials option starts at $25 per month and offers all Simple Start features plus additional features.

QuickBooks Online Plus pricing is the most popular option priced at $40/month, offering all the features in the Essentials package and more. The Advanced option is suited for larger businesses and is priced at $90 per month.

QuickBooks Online has no free version, although there is a 30-day trial period for each plan and a 50% discount for the first three months.

ITQlick pricing score is 5 out of 10 (10 is most expensive). Access ITQlick pricing guide for QuickBooks. You can also find here pricing information from QuickBooks's website.

Pros

• QuickBooks Online is easy to navigate
• The software has a lot of integration options due to its broad reach
• The number of features on QuickBooks Online is encouraging

Cons

• QuickBooks Online support channels can be problematic at times
• The software can be pricey, even for small businesses

How it stacks up?

Access a head to head analysis of QuickBooks vs alternative software solutions.

Frequently Asked Questions (FAQs)

Is QuickBooks right for you or your business?

QuickBooks Online is widely regarded as best used by small businesses. While larger businesses can use it, the software is best-fit for small-scale businesses and freelancers. The user base cuts across different industries, and business sizes from 1-1000+ can use the software. Notable customers of QuickBooks Online include The Victorian and West Egg.