Quickbooks For Medium-Sized Business

QuickBooks Online has been a popular accounting and invoicing software for small businesses since the late 1990s. Now, Intuit has released QuickBooks Online for Medium-Sized Businesses, aimed at helping companies that are too large to use QuickBooks Online but too small to afford a full-featured cloud solution like NetSuite or Sage Intacct.

QuickBooks Online for Medium-Sized Businesses is designed to help you keep track of your business’s finances, including sales, expenses and bills. It also allows you to send invoices and track your customers’ payments. The online tool is available in two versions: Standard and Premier.

Standard comes with basic features like invoicing, inventory management and time tracking. Premier offers more advanced features like multi-currency support, accounting integration with other apps such as Salesforce and Google Analytics Premium, enhanced reporting capabilities (including user-defined reports), project management tools, real-time collaboration with other users within the same company (or across multiple companies), unlimited users within one organization’s network (with no limit on number of companies) and much more!

Quickbooks For Medium-Sized Business

QuickBooks Pro Hosting | Best Reliable Cloud Services

QuickBooks is accounting software that offers several versions designed to fit the needs of most small or medium-sized businesses. All versions of QuickBooks offer tools for routine accounting that simplify tracking income and expenses; more advanced versions provide features for managing contractors, setting prices or tracking inventory.

Whether you’re a sole proprietor or you have a huge payroll to manage, there’s a QuickBooks version to aid you in your accounting process. Its online accounting software includes one level for freelancers, called QuickBooks Self-Employed, and four levels for small business, from simple to advanced.

QuickBooks also offers two desktop versions, called Pro and Premier, for one to five users; a desktop version for Mac computers; and a desktop version called Enterprise that can handle 30 users and up to a million customers, vendors, and inventory items.

QuickBooks Online Self-Employed

This version of QuickBooks is designed for freelancers. It allows you to:

  • Track income and expenses
  • Organize receipts
  • Estimated taxes
  • Invoice clients and accept payments
  • Track miles
  • Run basic reports.

An important note regarding the Self-Employed version: If you start with this version, you cannot upgrade to any other plan. You must start with one of the small business software versions below to be able to upgrade to a different plan, and can import your data from there.

QuickBooks Online Simple Start

This edition is intended for small businesses and sole proprietors. You can easily upgrade to other QuickBooks versions as your business grows. It offers everything the self-employed version does, plus the following features:

  • Send estimates
  • Track sales and sales tax
  • Manage 1099 contractors

QuickBooks Online Essentials

The next level of the online software includes the features from Self-Employed and Simple Start, plus the following:

  • Manage bills
  • Track time
  • Include three users

QuickBooks Online Plus

The third level of online software advances the following features in addition to what is included with the previous edition:

  • Include five users
  • Track project profitability
  • Track inventory
  • Receive more detailed reports

QuickBooks Online Advanced

The top-level of online access provides all features from the previous three editions, plus you can:

  • Pay bills
  • See smart reporting
  • Accelerate invoicing
  • Create custom user permissions and custom fields
  • Receive priority customer service and training
  • Include 25 users
  • Automate workflows
  • Integrate Google Sheets

All online plans include app integration, customer support via tutorials and online resources, payroll add-ons (price based on self-service or full-service plus per-employee cost), and a 30-day free trial.

QuickBooks Desktop Pro, Pro Plus and Mac

The desktop editions of QuickBooks are installed on your computer instead of accessed online. They don’t include software updates unless you pay for the Plus version, which requires a yearly subscription fee.

Desktop Pro costs a one-time payment and includes the following features:

  • Track inventory
  • Track sales and sales tax
  • Send invoices
  • Manage bills and accounts payable
  • Track income and expenses

Desktop Pro Plus requires a yearly fee and includes the software with features mentioned above plus unlimited customer support, data backup and recovery, and access to software updates.

QuickBooks for Mac is similar to Pro, although not exactly since it offers some features optimized for the Mac platform, although QuickBooks’ website doesn’t specify which features these are.

Pro and Pro plus enable export to Excel and integration with Outlook; Mac enables export to Apple Numbers software, as well as the ability to later convert to Online or Windows software.

QuickBooks Desktop Premier and Premier Plus

The Premier level of QuickBooks’ desktop software, which requires a one-time payment, includes all of the functionality of QuickBooks Pro plus the following additional features:

  • See industry-specific reports
  • Creating forecasts
  • Create sales orders
  • Track costs for products and inventory
  • Customize inventory reports
  • Support up to five users

The Premier Plus version, as with the Pro Plus version, allows unlimited customer support, automated data backup and recovery, and access to the latest software updates. It requires an annual subscription fee as well.

QuickBooks Desktop Enterprise

QuickBooks Enterprise edition is the most powerful version of QuickBooks. It is designed for medium to large businesses, especially those that are expanding to multiple locations. With Enterprise edition, you’ll find the following:

  • All QuickBooks Premier features, with enhancements to some of those features
  • Support for up to 30 users
  • 6x the capacity of Pro Plus
  • Tracking for up to one million inventory items, customers, or vendors.
  • Priority customer service
  • Advanced inventory and fulfillment tools
  • Automated pricing rules

The Enterprise edition is also the most expensive offering from QuickBooks, but the company offers full refunds within 60 days for anyone not satisfied with the service.

Live Bookkeeping

QuickBooks also offers a Live Bookkeeping option, which provides a certified bookkeeper who sets up and reviews your books for a monthly fee.

quickbooks cloud

Cloud Accounting Software, also known as online accounting software, is accounting software that helps you maintain your books of accounts online. Unlike the traditional accounting software installed on your desktop, computing accounting software is hosted on a remote server rather than a server on your business premises. It is based in the cloud instead of being installed on your computer.

Thus, in a cloud accounting software, the accounting data is sent on the cloud, processed on a remote server, and then returned back to you as a user. In simple terms, cloud accounting software allows users to access software applications through the internet or other networks through a cloud application service provider.

Thus, you as a small business owner need not install accounting software separately on every desktop being used in your firm. Further, since everything is based online, your employees sitting in any part of the world can collaborate and access the data uploaded on the cloud accounting software from any part of the world at any time.

Problems With Traditional Accounting Software

When you are starting your own business, traditional accounting software may seem to be a good option for managing your books of accounts. But there are certain challenges with the traditional accounting software that you need to keep in mind before investing in such software.

  • Costly License

The traditional accounting software licenses are typically expensive. Furthermore, shelling out money each time a software update is released or investing money for storing data can turn out to be costly as well as time-consuming for your small business.

  • Data Not Up To Date

The data stored in the traditional accounting software is not up to date unless one manually updates the latest invoices, expenses, incomes, etc. In addition to the data, the software updates do not take place regularly. This is because it is expensive, challenging, and time-consuming to upgrade the software with the latest updates.

  • Limited User Access

Since the traditional accounting software is individually installed on certain desktops, the financial information can be accessed only by limited users, that is, the persons on whose desktop the accounting software is installed.

Since the important people of the company are unable to access the financial information and client details, the teams are unable to collaborate.

  • Lack of Data Security

In the case of traditional accounting software, the financial data is stored either in computer hard drives, external hard drives, or USB devices. This increases the chance of the data getting lost.

Furthermore, the data is also prone to viruses, corruption, hacking, and maintenance challenges, it can make you lose your data anytime and could mean loss of time, effort, and money for your business.

  • Increased Errors Due To Manual Data Entry

Since you are manually entering data in the traditional accounting software, there are higher chances of errors. This could mean inaccurate financial data which could have a severe impact on your business decisions.

Why Does A Small Business Need To Switch To Cloud-Based Accounting Platforms?

As a business owner, you need accounting software that helps you save time, increase productivity and the one that is cost-effective.

You simply cannot rely on traditional accounting software as there are chances of committing data entry errors, subjecting financial information to data loss and viruses as a result of storing it in hard drives and USB devices, and shelling out huge amounts of money on data backups devices and software updates.

Thus, if you are still dependent on traditional accounting software, it’s time to switch to cloud-based accounting platforms.

  • Scale Your Business With Cloud Accounting

Scaling of business refers to growing business without increasing costs. With computing Accounting Software, you can grow your business in terms of getting more clients without the need to invest money in purchasing new software to store financial data into multiple accounts.

  • Bring Automation

With Cloud Accounting Software, you can automate certain routine tasks of your business. This could include sending recurring invoices to your customers, sending payment reminders, etc.

Furthermore, with your bank accounts integrated with your cloud-based accounting software, there is no need for you to manually enter the data. This is because the online accounting software automatically fetches all your banking transactions.

  • Save Time and Cost

Unlike the traditional accounting system, where you have to do everything manually, cloud-based accounting software helps you save time and cost in a variety of ways. For instance, you can send recurring invoices and set payment reminders for your customers.

You can further automate your accounting process by integrating your bank accounts with the online accounting software that fetches your banking transactions automatically. You can even generate business reports within no time and send them to your customers anytime, anywhere.

  • Third-Party Integrations Make Accounting Easy

Cloud-Based Accounting Software comes with third-party integrations like payroll, inventory, expenses management, etc. This gives you the flexibility to work with apps you are comfortable working with.

Further, there is no need for you to switch between different apps to manage various aspects of your business as you can manage the same all in one place.

  • Regular Software Updates

Cloud-Based Accounting Software releases regular software updates for security as well as the latest accounting features. Such updates make your financial data safe and also give you the advantage of the new-age functionality. This saves you time and helps you take your small business to the next level.

  • Lends Mobility

Unlike traditional accounting software, you can Fast Track payments by creating and sending invoices on-the-go from any device to your customers with cloud-based accounting software.

Likewise, you track data such as sales and expenses and create and send business snapshot reports to your customers anytime, anywhere. Also, you can collaborate with your remote teams on the same financial data and allow them to work on such data simultaneously.

Signs Your Business is Ready to Upgrade its Cloud Accounting Solution

  • Your Accounting Software Takes Your Majority Time

With no facility of linking your banking accounts to your traditional accounting software, you are entering all the financial data manually. Likewise, you are sending customer invoices and processing payroll manually that consumes time which you can probably invest in core business activities.

  • Lack of Support For Multi-Currency Transactions

You are losing serious business to your competitors if your accounting software does not support the multi-currency feature. This is because due to lack of this feature, you would be unable to bill your vendors and customers, denote price in foreign currency, undertake banking transactions, manage credit card accounts, etc thereby making you give up on the business opportunity.

  • Less Or No Automation

Accounting software should be such that it automates your accounting process so that you get time on your side for core business activities. If with your current accounting software, you are still:

  • Preparing and sending invoices manually to the customers whom you give the same service month after month
  • Manually entering the data and spending good time on reconciling the bank statements
  • Using physical copies of expense receipts and entering data manually

Then it’s time to shift to cloud-based accounting software.

  • No Mobility

With companies increasingly shifting towards remote working, it is important that your accounting software allows you to manage your books of accounts on-the-go. If your accounting software requires you to be desk-bound, it is certainly an indication that you need to switch to cloud-based accounting.

  • No Software Updates

Your accounting data is subject to serious security issues if it is not regularly updated for advanced security. Similarly, if the accounting boards release certain changes in accounting rules or tax reforms are released by the government that are not updated into your software, you lose out on the latest features that can make your accounting process effortless.

  • Restricted Third-Party Integrations

If your current accounting software is not integrated with a good number of third-party integrations, you would be required to switch between various apps for different tasks. This would mean less automation and increased complexity for you will have to move between different apps for various tasks.

Cloud Security Is World Class

The local storage on your desktop is not a safe place to store your valuable accounting data. Lack of software updates in traditional accounting software for security and regular generating of data backups in external hard drives or USB devices subject your accounting data to viruses and ransomware.

Further, storing valuable information in the servers at your office is something that may seem easy or convenient, but it is certainly vulnerable to data loss if there is a natural disaster, a simple coffee spill, or your server crashing.

Thus, accounting data stored on a single computer on your office premises can put you in a risky situation. This is where cloud security outshines your office servers for it keeps your valuable information safe in various ways.

  • Building Redundancy

The data on the cloud is stored on multiple physical servers. These servers are genuinely placed in large rooms or warehouses and are connected to the internet.

The cloud accounting services providers have servers in various locations just to ensure that your valuable financial data is not just located in one place but at multiple locations in order to build redundancy.

This means that the multiple copies of your accounting data are backed-up and stored in different servers at various geographical locations. Such redundancy reduces the risk of your information being destroyed completely as a result of fire, natural disaster, crashing of a server, etc.

Therefore, cloud accounting services providers ensure that you continue to have access to your financial data just in case there is any mishap.

  • Encryption

Another feature that makes cloud accounting software security outstanding is the encryption of data. In computing accounting, you upload the financial data on the cloud where it is stored.

Since you are transferring the financial data to the cloud, you would certainly want such transmission to be encrypted. Encryption rewrites your accounting information into a code.

Thus, understanding this code is out of the question for hackers or unauthorized entities who try to access your accounting information. There are different types of encryption used by cloud accounting services providers.

Secure Sockets Layer (SSL) is the most commonly used encryption method which allows for the safe transferring of data from websites and browsers. Cloud accounting services providers generally use 128-bit encryption which is the same security measure used by financial institutions and banks worldwide.

  • Automatic Backups

With cloud-based accounting software, you do not need to be worried about not saving the business snapshot reports or copies of your invoices. This is because such an accounting software provides an automatic backup facility that takes the backup of your accounting data after every few minutes.

This allows you as a user to restore the previous versions of your accounting reports or anything that you do from a particular point in time. And with cloud-based accounting software providing for redundancy, your accounting information does not get lost for there are multiple copies of your financial data stored at various locations.

Reasons to Use Cloud-Based Accounting Software

  • Get Time On Your Side With Automation

Cloud accounting software helps you automate various tasks in the accounting process. For instance, you can upload the vendor information into the accounting software and create an automatic workflow that pays the vendor automatically when the due date arises for such a payment.

Likewise, you can set payment reminders and recurring invoices that automatically send invoices to customers who invoice you for the same products or services on a regular basis.

  • Get Access To Real-Time Data

Cloud accounting software seamlessly integrates with your bank accounts allowing you to track sales, expenses, and inventory. If you are updating your invoices and all the accounting information regularly, you certainly get real-time data at your disposal.

  • Lending Mobility

With cloud-based accounting software, you are no more bound to your office desk for accessing financial information. Computing accounting allows you to manage your books of accounts wherever you are, that is, in the office, at home, and through multiple devices like smartphones, tablets, laptops, etc.

  • Easy Collaboration

If you find it challenging to compile your accounting reports on your own, you can give access to your accounting information to your accountant. Cloud accounting software allows for multiple user access. Thus, with just a simple login, your accountant can work on the accounting reports and generate financial statements even if he is located remotely.

Further, cloud-based accounting also gives you control over giving access to users. For example, you can give access to limited reports to few users just in case you do not want them to have access to your complete accounting information.

  • Increased Accuracy

Since your bank accounts are linked with your cloud accounting software, there is no need for you to manually enter the data. Further, with computing accounting, you do not have to undertake various calculations, be careful of various accounting rules or formulas as it does it automatically for you.

Therefore, whenever you need to generate financial reports, you simply need to regularly enter your income and expense information. The rest is taken care of by your accounting software.

  • No Installation Needed

Unlike the traditional accounting software that needs to be installed on individual desktops, cloud accounting software does not need any such installation. As they are based in the cloud, you simply need to put the requisite URL in the web browser and sign in to your accounting software.

  • 24×7 Customer Support

The best part of cloud accounting software is the tech support that is available 24×7. You can contact your cloud-based accounting software provider through phone, chat, or forum support.

Forums specifically get you in touch with the other small business owners and their advice on the similar issues that they are facing as you, thus giving you a chance to build relationships with them.

What Will Happen If I Don’t Adopt Cloud-Based Technologies?

If you are not switching to cloud-based accounting, you lose on several grounds as a business entity.

  • There is a serious threat to your data security for your traditional accounting software is subject to viruses, data loss, and natural disasters.
  • With no in-built redundancy, there is a high risk of losing accounting information for the entire data is stored on a single computer.
  • Relying on traditional accounting software is expensive as software updates and additional data backups come at a cost.
  • You are investing way too much time in managing your books of accounts due to a lack of automation.
  • In times where remote working is the new norm, traditional accounting software keeps you desk-bound and does not give you the flexibility to manage your books of accounts on-the-go.
  • Your accounting information is not regularly updated unless you manually update all your accounting records. Furthermore, the lack of software updates does not give you access to the latest features that make you lose business to serious competition.
  • You are prone to accounting errors for you have to manually enter the accounting information into your traditional accounting software.

What Kind of Software Do I Need For Cloud Accounting and How Much Does It Cost?

There is a host of cloud accounting software that is available. But you need to choose the one that fulfills your business requirements. Below are certain key points that you need to consider when selecting cloud bookkeeping and accounting software for your business.

  • Identify Features Required As Per Business Need

Prepare a list of the key features your cloud accounting software must have before making a purchase decision. Thus, while evaluating accounting software for its features, you need to understand what accounting tasks the software can do to make the accounting process easy.

Do you need software that offers basic accounting features like generating invoices, tracking expenses, managing inventory, etc.? Do you need third-party integrations to automate your accounting process? Are additional services like payroll processing, time tracking, etc needed? Will your accounting software make your tax filing easy? What kind of reports do you want your accounting software to generate?

  • Consider Your Budget Limitations

Different accounting software is priced differently based on the features that each of them offers, the number of users they allow access to, and various other factors. Consider how much you can spend on cloud bookkeeping and accounting software has given your business needs in terms of the features that you need.

  • See Usability

While making a decision for purchasing accounting software, you need to decide how and who all can use your accounting software. For instance, see if your accounting software offers multi-user access so that you can collaborate easily with your business partners and accountants.

Likewise, see if the accounting software offers mobility by being based in the cloud and allowing you to manage your books of accounts anytime, anywhere, and through any device.

  • Consider The Right Questions

Once you have shortlisted, you can register for a free trial to see if the accounting software has the required features that you need to manage your books of accounts, ask important questions to the marketing teams of the accounting software such as:

  • The security standards it uses.
  • Does it offer tailor-made solutions to fulfill your business needs?
  • What is the number of users who can simultaneously get access to the accounting software?
  • Is accounting software good for your industry?
  • How can accounting software help you in complying with the accounting and tax regulations, tax preparation, etc?
  • Is the backup of your data available?
  • What is the cost of cloud-based accounting software? Are there any setup charges?
  • What is the kind of customer support available?

How Much Does Accounting Software Cost?

The cost of accounting software varies based on the features and the user access it offers. The majority of cloud-based accounting vendors offer software as a service (SAAS) in place of license for such software.

Thus, they bill you in the form of a subscription fee that could be monthly or annually depending upon the plan you take. There are a number of plans that an accounting software vendor offers which fall in different price bands.

The accounting software on the lower side of the price band comes with basic accounting features. However, the ones of the expensive side offer advanced features like inventory tracking, purchase order management, sales, and expense tracking, automatic invoice reminders, creating and sending customized invoices, etc.

Such accounting software comes with third-party integrations to offer additional features, thus enhancing the accounting capabilities of such software. The accounting software vendors also offer discounts if you choose a yearly subscription plan over the monthly plan.

About QuickBooks Cloud Accounting

QuickBooks is cloud-based accounting software that helps you manage your books of accounts on-the-go. It offers smarter tools so that you can manage your business in a better way. Furthermore, your accounting data is safely hosted on the cloud for you to access the same anytime, anywhere, and across any device.

With features like sales and expense tracking, inventory management, payroll processing, invoice generation, customized report development, etc, QuickBooks Online makes cloud bookkeeping and accounting seamless.

Let’s have a look at how QuickBooks can make your accounting tasks easier and helps you run your business on your own terms.

  • Manage Your Business On The Go

QuickBooks Online lends mobility as you can manage your business from anywhere, at any time, and across multiple devices. Since all the accounting information is hosted on the cloud, you do not have to be bound to your desk to access important information.

You can create and send customized invoices within seconds to your customers, generate reports, and collaborate with your remote teams seamlessly at any time from any part of the world.

  • Track Your Expenses

You can easily and accurately report your income and expenses with QuickBooks Online and make sure that you do not miss out on any expense to claim desired tax deductions. QuickBooks enables you to integrate your bank accounts to automatically import transactions and categorize expenses by setting custom rules.

Furthermore, QuickBooks learns from such expense categories over a period of time and thus automatically sorts expenses into tax categories. You can even capture your expense receipts which are then automatically matched with your expenses.

  • Create and Send Business Forms

QuickBooks Online enables you to generate and send customized business forms such as invoices, sales receipts, estimates, etc to your customers and vendors within minutes so that you pay as well as get paid on time. It also allows you to use custom templates, send payment reminders, and recurring invoices making the payment process further simpler.

  • Know Where Your Business Stands

With a dashboard giving you a snapshot of your business such as profit and loss, open and overdue invoices, account balances, etc. you can instantly see how your business is performing. The customizable reports also help you in giving a fair overview of where your business stands.

  • Take Control of Your Cash Flow

With QuickBooks, you can easily see what comes in and goes out of your business and take charge of your finances. QuickBooks allows you to track and organize your accounting data and generate a cash flow statement. The cash flow statement helps you to know how much money is coming into your business so that you can make your vendor payments accordingly.

Cash is essential to run your business successfully and thus by knowing the cash position, you can make informed business decisions.

  • Free Unlimited Support

You can seek help in case you face any issues with your QuickBooks Online Accounting Software through customer support available 24×7 via phone, email, or chat. In addition to this, you can seek instant help, advice, and answers from other small business owners who are facing similar problems like you on QuickBooks Online Community. Furthermore, you can learn about QuickBooks features, functions, and benefits through QuickBooks webinars, step-by-step videos, and other resources like articles, how-to guides on the QuickBooks blog.

quickbooks cloud pricing

QuickBooks Online has four main plans, plus a host of add-ons for an extra monthly charge.

There are no contracts, and all plans are available through a 30-day free trial, which is useful for letting potential customers try it out first. QuickBooks is also currently running a special deal: opt out of starting with the free trial, and you can get your first three months half price.

Here are the prices and features for each plan.

Self-Employed Plan
Simple Start Plan
Essentials Plan
Plus Plan
Advanced Plan
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Self-employed plan
Finally, there’s the Self-Employed plan. This is available for just $15 per month and supports a single user.

This plan is designed for freelancers who file a Schedule C IRS form to report their income as sole proprietor.

Need a software for personal finances? Check out our guide right now

Features include the ability to track income and expenses, photograph and organize receipts, estimate quarterly taxes, send invoices, accept payments, create basic reports, and track miles on the mobile app.

Features that are not included in the self-employed plan, but are available with the Simple Start plan, include sales and sales tax tracking, 1099 contractor management, and the ability to create and send estimates.

See how QuickBooks compares to a key rival in our QuickBooks vs FreshBooks head to head guide

QuickBooks Interface

Simple Start plan
The QuickBooks Simple Start plan costs $25 per month and supports one user. As part of a special deal, the first three months will only cost you $12 per month, provided you skip the free trial.

This plan is best for small businesses, whether an LLC run by just one individual or a simple partnership. It’ll help someone keep their accounting data in one place, although it doesn’t offer many bells and whistles that could be useful for a larger operation.

It includes all the features from the Self-employed Plan but adds a range of helpful features from basic bookkeeping to budgeting.

For example, you can start recording fixed assets. You can also create a supplier database and generate purchase orders to help manage your accounts payable.

Similarly, you can create a client database and track overdue client payments to keep on top of who owes you what.

Finally, you can start creating budgets and cash flow projections based on your client and supplier information.

You can create an unlimited number of invoices and estimates, as well as tracking your expenses, managing business contacts — you can also manage up to 1,099 contractors. You can bring live bank feeds into your account and access a range of third-party integrations.

Reporting tools are available on the Simple Start plan but they are a bit limited. Vehicle tracking is included, too, should you need to invoice for fuel and driving time for any job.

QuickBooks: Managing expenses

Essentials plan
The Essentials plan costs $40 per month, supports three users, and brings a range of accounts payable functions to small businesses compared to the Simple Start plan.

The Essentials plan is a great fit for growing small businesses that have an increased number of suppliers, employees, and clients.

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.

Time tracking is another new feature this plan offers. 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 invoicing

Plus plan
The QuickBooks Plus plan costs $70 per month, supports five users, and includes several advanced features compared to the Essentials plan.

The Plus plan is best for mid-sized businesses that need to manage the complexities of billable hours across a raft of clients, as well as any businesses with an inventory of products or a growing number of ongoing projects that would be tough to manage otherwise.

The ability to track project profitability is another big benefit to this plan: A project management feature gives users a single location to view all projects, letting them see any given project’s labor costs, payroll, and expenses, in order to efficiently track project profitability and generate reports.

Under the Plus plan, products and the cost of goods can also be managed, with automatic notifications signaling when certain inventory is low and needs to be reordered. Product data can be imported from Excel or synced with Amazon, Shopify, Etsy, and other platforms.

quickbooks projects category

Advanced plan
The QuickBooks Advanced plan offers the most features for the highest cost: It’s $150 per month, supporting 25 users.

QuickBooks Advanced is best for enterprise businesses with support for extra users and the new features which help businesses operate more efficiently at scale.

For example, it brings a dedicated account manager, priority customer support, customer user permissions, and online training courses.

It also supports batch importing, to help a single user create, edit, and send multiple invoices, checks, expenses, or bills. You can also automate key accounting tasks such as setting reminders for invoices, payments, or deposits. You can automatically notify customers when their payments have been received and you can route invoices through pre-set approval flows.

You can track KPIs with in-depth analysis tools, consolidate data from multiple companies into singular reports, and compare different companies, clients, or franchises. You also get access to exclusive premium apps such as LeanLaw, HubSpot, DocuSign, Bill.com, Salesforce, and more.

QuickBooks dashboard

QuickBooks additional fees and features
That’s not all, folks: QuickBooks offers a host of useful add-ons for an extra monthly charge. First, there’s payroll processing, a function that’s hugely useful for a business with more than a few employees, but one that’s rarely included in an accounting software service’s main offering.

QuickBooks Payroll comes with three plans — Core, Premium, and Elite — with each offering more features than the previous one. Here are their prices and features:

Core – $45 per month, plus $4 per employee, per month. This plan does the basics: It automatically runs payroll, files payroll taxes, and offers employee services like health benefits and workers’ comp.
Premium – $75 per month, plus $8 per employee, per month. This plan adds role-based access, same-day direct deposit, and automatic time tracking for more granular, yet still automated control over paychecks.
Elite – $125 per month, plus $10 per employee, per month. This plan includes tax penalty protection, and a professional to offer hands-on help with setting up and troubleshooting.
The plans can be upgraded at any time, so if you’re in doubt, start with Core and see if it works for your payroll needs.

QuickBooks Payroll
QuickBooks Live Bookkeeping
Paying for software doesn’t fully keep your accounting on track: You’ll still need to know how to use QuickBooks properly in order to get the most out of it. The QuickBooks Live Bookkeeping service solves this issue by connecting businesses with a live, certified expert to keep their books in order. The expert will categorize transactions, reconcile accounts, create reports including an income statement and balance sheet, and close the books every month.

The custom price varies depending on the size of your business but should be somewhere between $200 and $600 per month.

QuickBooks Setup Fee
Worried about setting up your QuickBooks account? For just $50, QuickBooks Live Bookkeeping will set you up with an expert for one session.

Setting up the software involves plenty of one-time tasks that you’ll want to get right the first time, like connecting your bank account and setting up a series of automated processes and templates. Through Live Bookkeeping, you’ll get a single one-on-one session that can clear up any questions and start your accounting software subscription off on the right foot.

QuickBooks Capital
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.

Tax Forms & Support
QuickBooks sells tax forms directly to its users for a small extra cost. They also sell some as kits, which come with the correct envelopes too. Here’s how much each one costs:

W-2 kits – Starting at $26.99 for 10
1099 kits – Starting at $58.99 for 10
W-3 – 10 for $17.99
1096 – 10 for $17.99
QuickBooks has also stopped allowing users to file their sales taxes online through the service. You’ll now need to do this manually, and update your QuickBooks account with the information afterward.

Some Payroll plans include printed forms at no additional cost. The Premium and Elite plans also support automatic filings for state new hire paperwork.

QuickBooks also sells physical checks. You can buy:

Standard checks – Starting at $56.99 for 50
Business Wallet Checks – Starting at $43.99 for 50
Manual Business Checks – Starting at $58.99 for 300
Secure Plus Personal Checks – Starting at $39.99 for 120
Secure Plus Voucher Checks – Starting at $66.99 for 50
Secure Premier Voucher Checks – Starting at $72.99 for 50
Are they worth getting? Well, they’re far pricier than many other vendors selling similar checks, so likely not.

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.

QuickBooks checks

QuickBooks Online vs QuickBooks Desktop
At the most basic level, QuickBooks Online is the cloud-based version of QuickBooks. All your data is stored in QuickBooks’ cloud and you’ll be able to access it anywhere on any device. QuickBooks Desktop, on the other hand, is locally installed with a license pricing model.

However, there are a serious of other changes which are worth considering. For instance, with QuickBooks Online, your security is handled by QuickBooks. However, as QuickBooks Desktop is locally installed, you’ll be responsible for your own data security.

QuickBooks Online has a monthly pricing structure — you pick the right plan and then pay every month for the service. QuickBooks Desktop, however, has a three-year license, or you can pay for yearly updates.

QuickBooks Online allows up to 25 users on its most expensive plans. However, the QuickBooks Desktop Pro requires you to pay $299 for every additional user, up to a maximum of three. Desktop Premier and Enterprise, meanwhile, allow up to five and 30 users, respectively.

QuickBooks Online also offers more automation features, which might be a better fit for small businesses — the more tasks you can delegate to the software, the more efficient your business will be. QuickBooks Desktop also has a more dated and harder-to-navigate UI than QuickBooks Online.


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