Whether you run a small or large business, accounting is an integral part you cannot overlook. What you’re making and spending is the most crucial information for your business, hence it’s important to automate your bookkeeping as well. And accounting software is what helps businesses with this. Small to medium-sized businesses require detailed accounting, which can be a daunting task when done manually. It is because it involves a lot of entries and transactions, and QuickBooks bookkeeping software eliminates this hassle for you.
In this article, we aren’t going to discuss all the top accounting solutions but the most popular one – QuickBooks. Our main emphasis will be on answering the most common questions about QuickBooks Bookkeeping software.
Before jumping straight to the questions, let’s understand a bit about QuickBooks, its benefits, and a brief comparison with similar software.
What is QuickBooks?
Developed by a US-based company Intuit, QuickBooks is accounting software for small and medium-sized businesses. It allows you to look at and manage your accounts, such as sales, purchases, and expenses, in one spot. QuickBooks products are designed to offer on-premises accounting applications and cloud-based versions to help businesses manage payments, expenses, payroll functions, etc.
As far as the QuickBooks features are concerned, Intuit has integrated several web-based features such as:
- Remote Payroll Assistance and Outsourcing
- Remote Access Capabilities
- Electronic Payment Functions
- Online Banking and Reconciliation
- Mapping through integration with Google Maps
- Improved e-mail Functionality
- Enterprise Solutions
- Cloud Service called QuickBooks Online (QBO)
QuickBooks Online has the latest features in which you need to pay a monthly subscription fee rather than an upfront fee. It allows you to access the software exclusively through a secure logon via a Web browser. The cloud version has many features, which means you can efficiently take care of your accounting needs.
When talking about accounting software, there are many options available apart from QuickBooks, such as FreshBooks, Zoho, Odoo, and Tally.ERP, OSAS, Xero, Wave, and more. However, QuickBooks Desktop and QuickBooks Online are popular versions. Let’s take a quick look at the distinct features of these two versions:
|Features||QuickBooks Online||QuickBooks Desktop|
|Ease of Use||Good||A Bit Difficult|
|Use Case||Small to Large Business||Small to Large Businesses|
|Best For||Businesses looking for easy accounting software with excellent features||Businesses with complex accounting need and need a locally-installed software.|
FAQs about Quickbook Bookkeeping Software
Can I get QuickBooks for Free?
QuickBooks offers a free 30-day trial and some discounts like 50% off for three months. However, there’s nothing like free for a lifetime after their 30-day free trial. You need to buy a plan as per your specific requirements.
What is QuickBooks Used for?
QuickBooks is one of the most popular accounting software for businesses and can generate reports, prepare taxes, invoice customers, pay bills, etc. You can either choose QuickBooks Desktop or QuickBooks Online as per your needs.
Is QuickBooks Easy to Learn?
There are many ways to learn QuickBooks, but it has a steep learning curve, which means you may need some expert help. You can either try some tutorials or enroll in online learning classes to better understand the software, its features, and use cases.
How Much Does QuickBooks Cost?
QuickBooks have different pricing and subscription levels categorized into ‘QuickBooks Self-Employed,’‘ QuickBooks Online Simple Start,’‘ QuickBooks Online Essentials,’‘ QuickBooks Online Plus,’ and ‘QuickBooks Online Advanced.’
QuickBooks Self-Employed’s cost is $15 per month, while you need to pay $25 per month for QuickBooks Online Simple Start. The QuickBooks Online Essentials starts at $40/month, and the QuickBooks Online Plus is for $70/month, which is currently available for $35/month.
The QuickBooks Online Advanced will cost you $150/month, and you can choose a plan that best suits your business needs.
How Fast Can I Learn QuickBooks?
The basic and advanced concepts of QuickBooks can be learned through the company’s self-paced courses. In a six-month subscription, you get to access the content and tutorials any time and learn at your pace.
As accounting can be a bit complex, there are several accessible ways to learn QuickBooks, such as QuickBooks Training, QuickBooks Tutorials, QuickBooks Learning Centre, etc. Some online learning platforms also provide training for users at all levels.
Is QuickBooks worth the money?
Though there are many accounting software available these days, QuickBooks Online is praised as one of the best full-feature accounting software. It is easy to learn and use and offers many benefits compared to similar software.
Some of the benefits of QuickBooks include efficient accounting, interoperability with other software services, improved financial security, access to money management tools, enhanced client management, and more.
Do I Need to Buy QuickBooks Every Year?
Though you don’t need to upgrade to the latest version of QuickBooks every year, upgrading your computer’s operating system might want you to upgrade if old software won’t run right any longer. You can either purchase a single QuickBooks Pro license or an annual subscription.
As far as the pricing is concerned, QuickBooks Online is a monthly subscription, while QuickBooks Desktop can either be purchased for a one-time fee for each user or as an annual subscription.
Do you Still Need an Accountant if you use QuickBooks?
QuickBooks stands tall among all the bookkeeping software available on the market, but it doesn’t mean you don’t need an accountant at all. Although you don’t need a room full of accountants, having an expert will help you with financial advice, keep up with taxation changes, etc.
Moreover, an accountant can understand the software and use it efficiently, which means QuickBooks won’t squeeze out accountants and bookkeepers.
Does QuickBooks Have a Monthly Fee?
There are different pricing and subscription levels for QuickBooks Online, and you can pick the one that best fits your needs as your business grows. Some subscriptions demand a monthly fee, while others are available as an annual subscription.
However, all subscription levels of QuickBooks Online come with distinct features to suit different business needs. The Online version allows you to access your books from anywhere securely, and there is nothing to install, no servers or data files to maintain, and no backups needed.
How Much is QuickBooks for Small Businesses?
If you run a small business and looking for an ideal QuickBooks bookkeeping software plan for your bookkeeping needs, there are three options to choose from – Simple Start, Essentials, and Plus. QuickBooks Simple Start costs about $15/month, while QuickBooks Essentials is available for $40/month.
If you’re interested in QuickBooks Online Plus, you can get it for $70/month, and currently, this option is at a 50% discount and available for $35/month.
What are the Key Differences Between QuickBooks Online and QuickBooks Desktop?
The two popular accounting programs by Intuit offer many similar features, but there are some key differences too. QuickBooks Online is cloud-based that can be accessed anywhere at any time while you can locally install the Desktop version onto a laptop or computer.
QuickBooks Online has more automation while QuickBooks Desktop is loaded with developed features. As far as the learning curve is concerned, the Online program is easier to learn and use, while the desktop one has a steep learning curve.
Coming to the pricing, QuickBooks Online has monthly subscription pricing while QuickBooks Desktop requires a license or is available for a yearly subscription.
What is the Best Small Business Software?
With so many accounting and bookkeeping software available for small businesses, it can be challenging to find the best for you. If you’re looking for something user-friendly and fully-featured, QuickBooks bookkeeping software can be an excellent choice.
On the other hand, FreshBooks is best for invoicing, and Zoho Books is best for automation. For the most straightforward setup, you can consider Kashoo, and if you’re into sales teams and OneUp will work best for you. Wave is the most affordable accounting software, while Sage Business Cloud Accounting offers the best user experience.
The Final Thoughts
When you compare Intuit’s two most popular products – QuickBooks Online and QuickBooks Desktop, they are loaded with unique features. However, the critical difference lies in usability and pricing. QuickBooks Online is cloud-based software available for a monthly subscription, while QuickBooks Desktop is locally installed with a license pricing model.
Though Quickbooks is good and affordable, it is better to get expert help such as NumberSquad. The experts can help you with the most critical business aspects: Bookkeeping, Payroll, and taxes. The products and solutions are available for startups, small businesses, professional services, and non-profits.
A platform like NumberSquad works on your documents so that you can focus on your business. As far as small business bookkeeping is concerned, the team of experts will take care of your books, including recording transactions and reconciling bank accounts. They are like virtual bookkeepers who provide accurate reports, financial documents, and competitive service.