With it, users can track their billable hours, categorizing them under the correct client and employee, while automatically adding them to invoices. These hours can be added by the manager manually, though the employee in question can also be given permission to add their hours themselves. QuickBooks Online pricing offers five main plans, plus a host of add-ons for an extra monthly charge.

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Some of Xero’s plans cost less than QuickBooks’ plans, but most do not. Xero’s plans cost $13, $37, and $70 per month, compared to the QuickBooks $17.50, $32.50, and $49.50 per month plans. However, the “Secure” brand of checks offer in-depth fraud protection measures that may justify the price, provided you anticipate security risks at your business. Also available from the service is a lending program called QuickBooks Capital. Those with QuickBooks Online accounts are potentially eligible, though they’ll still need to qualify on the strength of their accounting history. You’ll be able to track bills, set up recurring billing, track expenses, record payments in multiple currencies, and scan bills to keep abreast of all the money your company is owed.

1. Join the thousands of people like you already growing their businesses and knowledge with our team of experts.
2. QuickBooks now offers a free small business checking account called QuickBooks Checking (formerly known as QuickBooks Cash).
3. We looked at all-in-one tools, such as QuickBooks, as well as specific tools for mileage tracking and expense management.
4. Automatically sort transactions from connected accounts into tax categories for easy organization.

Plans support up to 40 users and business owners can purchase varying levels of cloud access. The prices listed above apply to local access plans only; annual pricing rises with more users and cloud access. QuickBooks Plus is the most popular plan for businesses since it includes features such as inventory tracking, project management and tax support.

For just $50, QuickBooks Live Bookkeeping will set you up with an expert for one session. Finally, you can start creating budgets and cash flow projections based on your client and supplier information. All Simple Start features plus the ability to record transactions in multiple currencies and enter employee time. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. No, it is relatively easy to use, although corrections can be more challenging. However, so if you work with a professional accountant, they will likely have an in-depth understanding of the platform and can guide you through its functions.

Best Accounting Software for Small Businesses of 2024

This option is best for large businesses that could benefit from the extra support features, like a dedicated manager or virtual training classes. Any sized business has paperwork, even just a single freelancer. But with the right accounting or invoicing software for small businesses, filing tax information can be a simple and streamlined process. QuickBooks makes this process even easier thanks to a huge range of integrations and plug-ins you can use, with familiar names such as PayPal, Shopify and MailChimp all present and accounted for.

Reporting Differences in QuickBooks Essentials vs. Plus

QuickBooks Online is one of the company’s most popular accounting software choices for small-business owners. QuickBooks Online pricing is based on a monthly subscription model, and each plan includes a specific number of users. First-time QuickBooks Online users can typically receive a free 30-day trial or a discount for the first few months of service. Users can switch plans or cancel without having to pay termination fees. Live customer support is available by online chat and callback weekdays during extended business hours and on Saturdays. QuickBooks Enterprise is one of Intuit’s most robust business accounting products and offers a host of additional services, like access to more than 200 report templates and priority 24/7 customer support.

Larger businesses with substantial accounting teams may want to consider the QuickBooks Advanced plan. It covers up to 25 users and provides dedicated customer support and advanced reporting features. Both Essentials and Plus offer powerful features that can keep your small business on top of its accounting game. However, we’d definitely recommend QuickBooks Essentials for service-based businesses that don’t have products or inventory to track on a regular basis. It’ll help you manage all of your clients, suppliers and employees without hassle.

If you’re a small business looking for accounting software, you might want the Simple Start Plan, which allows you to create and manage invoices, estimates, bills, and sales taxes. Standard accounting tools, including invoicing and payments, income and expense tracking, bill management and basic reporting. If you’re shopping for QuickBooks as a small-business accounting solution, first decide whether you’d like online, cloud-based software or a desktop product that locally stores your information.

The compensation may impact how, where and in what order products appear, but it does not influence the recommendations the editorial team provides. Most of the additional reporting is for inventory and sales reports, which you can organize by class, location or product. However, there are a few useful reports only Plus has that you might expect to find in what is the working capital cycle wcc Essentials, such as uninvoiced time, 1099 transactions and budget overviews. It’s worth taking a closer look at the included reports list to see if there’s anything you’d be missing out on if you chose Essentials over Plus. QuickBooks also offers connections to a variety of online payment processing services. PayPal and Square are included, as our integrations section above touches on, while Stripe and Authorize.Net are two more potential payment services.