What is QuickBooks? How Businesses Use QuickBooks

what is quickbooks

The Desktop versions of QuickBooks have products that are on a monthly and yearly basis. They start from $37 per month, depending on the number of users needed to access the software. QuickBooks Online is an ideal solution for small business owners across every industry. In particular, this product is popular with those who need a cloud-based solution accessible on any device with internet access. QuickBooks also offers multiple products capable of serving mid and enterprise-level corporations.

If you are an independent online freelancer, Quicken’s features may be enough for your business. But if you need something more robust, QuickBooks is the clear winner in terms of Best Accounting Software For Nonprofits 2023 business features. Lack of invoicing capabilities with no connection to a payment gateway. From side-hustles to complex companies, we have the tools you need to run your business.

QuickBooks Time

Meanwhile, QuickBooks Desktop is an on-premise software that needs to be installed on the computer where you use it and is available as an annual subscription. For more information about the differences between the two programs, read our QuickBooks Online vs QuickBooks Desktop comparison. The QuickBooks Online mobile app allows you to execute various accounting tasks from your mobile devices. Available for Android and iOS devices, it lets you create and send invoices, accept payments online, and assign expenses to projects or customers.

The free QuickBooks mobile app allows you to access your business’s accounting reports from anywhere. Additionally, you can scan unlimited receipts to QuickBooks Online and attach the image of the receipt to the transaction. QuickBooks, the popular accounting software by Intuit, often has small business owners wondering if it is the right solution for their financial needs. With QuickBooks, it is very simple to track time as well as billable expenses incurred by employees or subcontractors.

Best Online Bookkeeping Services

The mobile app for Online is robust, and Desktop’s mobile app is so limited, that it essentially functions as a receipt uploader. Working from the cloud means you need an internet connection, so a poor signal or an intermittent connection can be an issue. Compared with QuickBooks, Xero’s plans and pricing structure are simpler and less expensive.

When working with the Desktop version, it’s downloaded right to your computer. This means the data operates as fast as your computer, all without needing to worry about a connection https://business-accounting.net/bookkeeping-for-solo-and-small-law-firms/ issue. You must pay an additional fee for every user who wants to access the account simultaneously, whereas Online lets multiple users access the account at the same time.

Tax Automation and Compliance

Access your account via the cloud for up to 25 users with the Online version, and pay an additional fee per user, up to 40 users, for cloud access with Desktop. What used to be a huge bulk of QuickBooks business is no longer so—it focuses mostly on its cloud version and actively encourages users to make the switch from Desktop to Online. This may signal future abandonment of its Desktop version as more people move to the cloud. If you make the switch from Desktop to Online, you can import your data and access your original company file at any time. Moving up to the Essentials Plan, you’ll pay $16.50 per month for the first three months, $45 per month.

  • Another cumbersome feature that users don’t like is the requirement that clients must establish their own accounts to pay an invoice.
  • In recent years, QuickBooks has been focusing on expanding its cloud-based products.
  • If you think you’ll need more advanced features in the future, it’s important to make sure you choose an option that can accommodate those needs.
  • It’s the report that tells you how much money your business has earned or lost over a set period of time.
  • In some cases, QuickBooks may offer more than necessary, but in most, QuickBooks is better for business financial management than Quicken is.
  • QuickBooks also allows you to automate the creation of invoices in managing your accounts receivable.
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