How to Choose the Best QuickBooks Version for You

Quickbooks Online Plan Comparison

Bookkeeping software gives you a great snapshot of what your business’ finances look like. By having all of your financial information in one easily accessible interface, you will be able to plan and prepare for the future with a high degree of accuracy. Once again, if you are going to pay all of your expenses as they come due this could be the plan for your small business. If you find you would like to add other functions, you can always upgrade your plan later. The QuickBooks Self-Employed plan is an app that has very basic features.

  • Each time you log into either app, you can see your latest balance and expenses that need reconciling from the dashboard.
  • QuickBooks Plus is designed for businesses selling products and thus tracking inventory.
  • While in there, you can also access other project reports in QuickBooks Online – Project profitability and Unbilled time and expenses.
  • You can access a more detailed customization menu via the Customize button on the top-right side of the screen.
  • Xero and QuickBooks both offer a good number of integrations in their respective marketplaces.

Since QuickBooks Online is priced as a monthly subscription, it doesn’t require a contract and you can cancel your account at any time. QuickBooks Desktop’s pricing is more complex and depends on the plan tier, the number of users you need and whether you want cloud access. Additionally, the desktop products are only available as annual subscriptions, making them a bigger commitment than QuickBooks Online. Instead, its software integrates with multiple apps that provide the accounting service. Fees vary, but they commonly charge a monthly base and per employee after that. You may want a range of choices for your payroll processor, but you’ll spend more time comparing options and fees. Xero’s mid-tier plan, called Growing, costs $30 per month and removes all usage restrictions without adding features.

Overview of QuickBooks Online vs. Desktop

What’s more, they can also access a separate Class List report. There are plenty of tools, though, that can be plugged into your product and can pull the vital metrics from there. It’s a far more reliable approach than trying to make something out of QuickBooks Online reports. Essentials users have additional access to Sales by Customer Detail and by Customer Type Detail. What’s more, they can also view Sales by Product/Service Detail and Summary. Most standard accounting reports are also available for the export.

What are the different versions of QuickBooks Online?

QuickBooks Online offers five versions: Self-Employed, Simple Start, Essentials, Plus, and Advanced.

Below jotted down options is a breakdown of the specific features advantageous for you in comparing QuickBooks Online and QuickBooks Desktop worth to the business. Speaking of extra fees, QuickBooks Desktop also charges for e-commerce app integration, invoice-based payment acceptance, and online data hosting. If you choose QuickBooks Desktop Pro Plus, you’ll also need to pay extra if you want to access customer service via live chat. Notably, only QuickBooks Desktop Enterprise includes 24/7 customer service. Pro Plus and Premier Plus limit customer service hours to just 12 hours a day, weekdays only. As you can see, Plus is notably more expensive than Essentials for only slightly more features.

What Are the Common Capabilities of QuickBooks Online Plus and Advanced?

QuickBooks Enterprise is specially allotted for small enterprises or large businesses and starts at $1,655 annually. Both Intuit products use double-entry accounting protocols and having accrual & cash-basis accounting. Each system provides an in-depth chart of accounts, bank reconciliation, accounts receivable, journal entries, accounts payable, and the general reports required to run a company. Although QuickBooks Desktop is recognized as a better reporting system and helps in ease of managing complex tasks. It signifies that the QB desktop version does not need the internet to work and users are unable to access it remotely. QuickBooks Online and QuickBooks Desktop are two solid accounting products from Intuit. While both software types have plenty of perks, QuickBooks Online is a more flexible, affordable, and scalable option for most small-business owners.

Quickbooks Online Plan Comparison

Exploring these key differences lets you choose the software according to type, size, and business requirements. It becomes a very challenging task of selecting one account system from the same company. If you are wondering to know which accounting system product to choose The below write-up will help you in understanding the major difference between QuickBooks online VS Desktop. You can easily compare each product according to user experience, reputation, pricing, features, and much more. It in-turns helps confidently making a better business decision. However, if you’re not a Mac user, you can choose from all three QuickBooks Desktop plans. The QuickBooks Desktop Premier Plus plan is particularly useful for business that want industry-specific features.

Choose the accounting plan that’s right for your business

Matches receipts to transactions and can be connected to bank accounts. For small and growing businesses, QuickBooks Online can give you a way to manage your business today and grow along with your business tomorrow. QuickBooks Desktop offers more than 100 standard reports that can be customized as needed. Both QuickBooks Online and QuickBooks Desktop applications offer a good selection of features, though QuickBooks Desktop features tend to be more comprehensive.

Refer to the Schedule reports in the QuickBooks Online section for details on how to set it up. There’s a long list of reports available in the For my accountant section, the exact set depends on your plan. An interesting thing to do would be pulling all time entries available with and building a productivity report in your spreadsheet. With a bit of time at your disposal, you could also export the data into a tool like Data Studio and build a wonderful, self-updating productivity report there.

Is there a monthly fee for QuickBooks?

However, if things like integration and cloud access are important to you, QuickBooks Online may be the way to go. Once you decide, if you need some assistance with your QuickBooks Migration, be sure to check out our comprehensive QuickBooks Tutorial. QuickBooks Desktop wins this, offering more reporting options as well as industry-specific reports and forecasting options not offered in QuickBooks Online. QuickBooks Online includes numerous learning and support resources. A variety of short video tutorials are available as well as on-demand webinars and training classes. One of the best resources is the QuickBooks Online community, where you can connect with other users to share tips, answer questions, and find answers to problems that may arise. Product support can be accessed directly from within the application, where you can ask a question or connect to support personnel.

Does QuickBooks Online Essentials have class tracking?

You can start to track Classes and Location if you have the QuickBooks Online Plus version. These features are not available in Simple Start and Essentials. Location Tracking and Class Tracking lets you track your income and expenses. You can use either one of them individually or both of them together.

Positive customer reviews focus on the great features that are always being added, the efficient mobile app, and the usefulness of the platform. Negative customer reviews tend to focus on some invoicing bugs, the costly add-ons, and the lack of support. Compare QuickBooks to Sage 50cloud, FreshBooks, and other accounting software, learn about features and detailed pricing info, see customer reviews. QuickBooks Desktop offers the same support options found in QuickBooks Online including video tutorials, on-demand webinars, and various training options. Both applications also include an easy setup process, so you can be up and running in little time.

QuickBooks Online vs. Desktop Pricing

However, if you need to share QuickBooks custom reports externally, the easiest way to do this is to export them. QuickBooks Online allows you to manually export reports as PDF or Excel. For this, go to the list of your QuickBooks custom reports and select the drop-down menu next to the Edit button. This flow is the same for Quickbooks Online Plan Comparison all custom reports in QuickBooks Online. Once you customized your report, click the Save customization button. Optionally, you can group it with other custom reports or even share it with the community. You can run some basic adjustments such as Report period, Display columns by, and others right from the report page.

Quickbooks Online Plan Comparison

However, there are some key differences between the two products. There are four different pricing plans, which are based on the number of users. First thirty days of subscription to QuickBooks Online, starting from the date of enrollment, is free.

These include Balance Sheet, Cash Flow, Journal or Transaction List. Refer to the earlier chapters for instructions on how to set these up. If you plan to work further with any of these reports, exporting them directly into Excel or, for example, Google Sheets is probably a better idea. The advantage is that the data will be fetched into a typical spreadsheet format that allows for it to be formatted, put into formulas, or processed in any other way. Each report can be sent to a specific email address at a certain scheduled interval.

Unlike QuickBooks Online, Xero also gives you an equity statement, which is useful if your business has several investors. It displays the owners’ investments and equity draws, as well as profits or losses kept in the business.

Sales Orders:

Should you ever need help with your books, you will want a bookkeeper who is familiar with your software, and QuickBooks is the best way to ensure that. In addition, QuickBooks offers a ton of support through their expansive knowledgebase and QuickBooks-affiliated websites.

  • With you can import the Expenses by Vendor report, regardless of your plan.
  • Expand your QuickBooks Online functionality by easily syncing with 350+ apps.
  • QuickBooks has been GAAP and IAS compliant for longer than Xero, and has been the preferred choice of many accountants for some time.
  • Check out additional features available in the Essentials Plan here.
  • Both offer strong accounting, though QuickBooks Desktop has more features and is more customizable, whereas QuickBooks Online has more automations and is easier to learn and use.

QuickBooks Desktop also offers easy integration with QuickBooks Payments so you can accept online payments from customers. Users get several great features in QuickBooks online using the mobility option of a cloud-based system.

What QuickBooks Desktop offers

For pricing details and to walk through the service with a specialist, schedule a free consultation.

  • QuickBooks online version is capable of having more automation options as a comparison to QuickBooks Desktop.
  • Here’s a complete breakdown of what’s included with each QuickBooks Online pricing plan.
  • Personalize templates with business logos and colors, set up recurring invoices, automatically add billable hours with time tracking, receive notifications, and automatically match payments to invoices.
  • QuickBooks Online provides good reporting options in all of their plans.
  • QuickBooks Essentials is specially designed for service-based businesses that bill their customers for the time invested in rendering services.
  • Whether you’re thinking about converting to QuickBooks Online or switching from QuickBooks Desktop to QuickBooks Online, your first step should be to take a long look at both applications.

Vendor reports are nested in two separate sections in the Reports menu – What you owe as well as Expenses and suppliers. QuickBooks uses the terms “Vendor” and “Supplier” interchangeably so Vendor reports are referred to on the platform as Supplier reports. Each report can be saved in the standard way, as an Excel file or PDF. The exceptions are Payroll Summary by Employee, Recent/Edited Time Activities, and Time Activities by Employee Detail which are available only to Plus users. Schedule the automatic data refresh for your report and click Save and Run.

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