QuickBooks accounting software is designed for small businesses to manage sales and expenses. And keep a history of daily transactions by using QuickBooks. QB helps in giving the invoice to customers, pay bills, generate reports, tax filing, and much more. There is no version of QuickBooks accounting software that is free. For better understanding, Intuit offers a free trial of QuickBooks for 15-30 days. Which then allows the accountants to access it easily. Below we will discuss the features and price of QuickBooks Online apps.
There are four types of the version available in QuickBooks Online. They are like Simple Start, Essentials, Plus, and Advanced. However, the monthly pricing is below between $20 and $150. Although QB offers us monthly paid service. So the annual contract is not required. You can choose the best plan for your business to depend upon the number of users you need.
Features and Price of QuickBooks Online Apps
QuickBooks Online Simple Start
A simple start is the entry-level QuickBooks plan. Since this plan is best for those who pay all the bills online and sell services only. Although it is not good for those businesses that manage multiple users, track billable time, or manages multiple currencies. If these factors are required in your business then you can also buy another plan.
The price of this plan is $20/mo that provides one user and two accountants.
Some great features of QuickBooks online simple start plan are–
- First, unlimited invoices and estimates.
- Live bank feeds.
- Expense tracking.
- Contact management and much more.
QuickBooks Online Essentials
QuickBooks Online Essentials provide all the features of Simple Start with extra features for a business that needs more features that provide in the Simple Start. Therefore this plan is best for small businesses. In this plan, you can not only track income and manage accounts but also track the money owed to the suppliers. We also give permission to other people to access our data. In this plan, we get a great feature by which we can track income and expenses in multi-currencies It has a feature that can automatically update exchange rates throughout the day.
The price of this plan is $35/mo that provides three users and two accountants.
Some great features of QuickBooks online essentials are-
- Expense tracking.
- Time tracking.
- Unlimited invoices and estimates.
- Reporting.
- Track incomes and expenses in multiple currencies.
QuickBooks Online Plus
QuickBooks online plus provides all the features of both Simple start and essentials plan with extra features for a business that needs more features that provide in both plans. It is best for those who have a small business in which they sell products and provide services too. In addition, you can track inventory costs and quantities and create purchase orders. In this plan, we can measure the profitability of the work performed and also organize income, expenses, and time by the project.
The price of this plan is $70/mo i.e almost double the cost of QuickBooks Essentials and triple of QuickBooks Simple Start plan.
Some great features of QuickBooks Online Plus are-
- Project management.
- Live bank feeds.
- Accounts payable.
- Inventory.
QuickBooks Online Advanced
QuickBooks online advanced provides all the features of Simple Start, Essentials, and Plus with additional features. This plan is best for mid-market-size businesses. QuickBooks online advanced has a great feature named accelerated invoicing that allows us to create multiples of invoices at once or import hundreds of invoices at once via excel import. This feature is very useful for us because we can manage a higher volume in a fraction of the time.
The price of this plan is $150/mo.
Some great features of QuickBooks Online advance are-
- Custom user permission.
- Accelerated invoicing.
- Custom user permissions.
- A dedicated account manager.
Other Useful Resources:
Basic Accounting Principles & Concepts: Every Businessman Must Know
How to Change QuickBooks Desktop Payment Method
QuickBooks Class Tracking (Set Up & Track Location, Classes)
Top QuickBooks Online Apps
Expensify – A QuickBooks App for expenses
Expense management has never been so easy. Although those days are no more of saving receipts for a week until you file an expense claim. And then waiting around for that to the process by the accounting department. With Expensify you can also simply take a photo of your receipt, upload it to the app, fill it in a few boxes and it can then be approved with a click of a button. Everyone saves time, expenses get properly logged and you don’t have to shift for the receipts at the end of every month and panic about how repayment all of these claims at once will affect your cash flow.
TSheets – A QuickBooks App for time-tracking
Tsheets is one of the highest and most rated apps in the ecosystem thanks to the fact that is entirely customizable to the needs of your business. You can also track employees when they are working in or out of the office. Thanks to GPS tracking, schedule shifts, create a job, costing reports, and benefit from the real-time reporting that goes along with it.
Fundbox – A QuickBooks Apps for finance
Fundbox is a short term financing solution that works by the underwriting invoice due for payment. By linking to QuickBooks, Fundbox creates a risk profile for each individual invoice and approve those that are eligible for funding. The full value of an approved invoice can be deposited into your account the next business day, borrowers have 12 weeks to repay the loan and are charged a flat-rate monthly fee. The monthly fee structure means that the borrowers are rewarded for early repayment and it’s ideal for bridging short term cash gaps.
Final Note:
Using QuickBooks Online Apps means so much more than just accessing your account from anywhere, anytime. However, it also opens an unlimited world of possibilities thanks to the app store. Which boasts hundreds of QuickBooks apps all designed to help you customize an integrated package to fit your business needs.