Each plan varies in terms of features and the number of users allowed. If you can’t decide if QuickBooks Online, QuickBooks Desktop, or another QuickBooks version is right for your business, this guide is for you. Small businesses that prefer locally installed software and work from a Mac. Small businesses that prefer locally installed software and work with a PC. In the next decade, BI will play an even more central role in decision-making. As organizations embrace AI-driven insights, decision-makers will rely less on intuition and more on data to guide strategic choices.
Income and expense tracking
And QuickBooks almost always has a discount for new users—if you waive your 30-day free trial, you’ll usually get three months for 50% off (or more). QuickBooks is a robust accounting solution for small businesses that streamlines vital tasks like sending invoices, tracking payments, and organizing business expenses. Once you set up your account or free trial, connecting your bank account to QuickBooks takes only a few minutes. If you need implementation help, you can purchase a one-time session with a bookkeeper. They will walk you through setting up your chart of accounts, connecting your bank accounts and automating processes.
In short, our hands-on testing of QuickBooks and its peers uncovered that this solution has the technology and ease of use to suit small businesses of all kinds. To ensure that accountants can fully leverage QuickBooks’s capabilities, Intuit offers extensive training resources. These include online courses, certification programs, and community forums that provide valuable insights and tips from experienced users.
In this complete QuickBooks Comparison, we’ll explain what each program is capable of, what type of business is best for each version of QuickBooks, and the main differences between each product. If you’ve been reading my stories for the past three years, you would know that falling victim to this scam is entirely avoidable with one simple trick. Now that hackers have weaponized Google Ads, you want to avoid clicking on ads in search results completely. Instead of clicking on the first result after searching for a product online, scroll down which quickbooks is best for a small business a bit and look for a company’s actual page before you click on anything.
QuickBooks also offers unlimited support and access to free training, tutorials, and webinars. The choice between Xero vs QuickBooks isn’t just about which is better but where you want your business to head. For startups and service providers, Xero’s ease and affordability win. For process-oriented, scaling companies, QuickBooks offers mature tooling. But for those seeking transformation, beyond accounting into unified business intelligence, Business Central stands alone. Management expense reporting is now as easy as taking a picture of your receipt, uploading it with the appropriate code and being approved in QuickBooks.
- But whether it’s the best accounting software for you depends on what accounting features your business needs and how much you want to spend on accounting software.
- Learn more about the differences between QuickBooks Online vs. QuickBooks Pro.
- Compare QuickBooks Online to other leading financial solutions and spreadsheets.
Accounting & Reporting
Yes, QuickBooks supports multi-currency transactions, allowing businesses to manage and track transactions in different currencies. Users can set a home currency and add additional currencies as needed. This feature is particularly useful for businesses operating internationally or dealing with foreign clients. Below, you can see exactly how our testing and scoring works across eight criteria. QuickBooks stands out for its complex reporting tools and customizable report templates, which allow a business to fine-tune its operations in order to earn the highest profit on the lowest budget. In addition, it offers cash flow projection tools that will further help with creating and maintaining the best budget.
Features
- Businesses must also hold yearly meetings to review their financial positions.
- If you do most of your accounting on the go, QuickBooks Online is one of your best solutions.
- It’s also convenient to snap and send photos of receipts or other financial documents, view key financial metrics, and track time or miles.
- There are several useful products that you can tack onto your QuickBooks plan that are worth considering.
However, the price of accounting software depends on your business model and what you want to accomplish. High-end systems with enterprise resource management (ERP) and accounting cost more than bookkeeping software with invoicing and expense tracking. But choosing accounting services that meet your needs and budget can be challenging. This guide explores cloud-based accounting software costs and goes through what to look for, whether you’re a contractor with basic bookkeeping skills or an owner with several entities. QuickBooks offers customer support through various channels, including phone and live chat.
Based on my experience implementing various solutions, Zoho Books and Wafeq stand out for their strong VAT compliance capabilities. Both are accredited by the Federal Tax Authority (FTA), ensuring they meet all local tax requirements. ProfitBooks also offers comprehensive VAT support, with built-in tax codes and FTA-compliant invoice formats that have helped numerous UAE businesses maintain perfect compliance records. I remember helping a client who traveled frequently between Dubai and London. Switching to a cloud solution eliminated his previous headaches of transferring data files between computers.
Cloud-based access ensures key stakeholders can view and analyze data from anywhere. With shared dashboards and automated reporting, cross-functional collaboration becomes seamless. Enterprise business intelligence (BI) has emerged as the key to unlocking actionable insights that drive profitability, boost efficiency, and enable smarter decision-making.
QuickBooks Mac Plus: Best For Mac Users
QuickBooks is not inherently HIPAA compliant, as it is not specifically designed to handle protected health information. Businesses in the healthcare sector should evaluate whether QuickBooks meets their compliance needs or consider additional measures to ensure HIPAA compliance. We’ve developed robust testing scenarios to use the software in the same way you will.
An Insight into Xero Accounting Software Vs QuickBooks
Make tax season less stressful by using a version of QuickBooks that helps you reduce your tax liabilities. Some versions allow you to track expenses and help you identify potential deductions. QuickBooks may also connect you with a certified tax professional that can assist you with accounting tasks.
The business impact: Why enterprise BI matters
Not all cloud-based accounting software offers mobile apps for iOS and Android devices, but you may be able to use it through a mobile browser. Functionality also varies, with some accounting services providing robust mobile features, whereas others have limited tools. The best accounting software for financial reporting pulls more information from your general ledger and uses additional financial metrics to provide deeper insights. These systems may offer accounts payable and accounts receivable aging, expense trend, profit margin analysis, and comparative reports. Some have tax-specific options and let you segment the data in ways that make the most sense for your business goals, model, and industry. The average cost of accounting software for small businesses ranges from $7 to $300 per month, with base plans running around $50 monthly.
You can easily separate personal and business expenses, which is ideal for freelancers who don’t have separate business bank accounts. With strong accounting capabilities, impressive features, 750+ integrations, and fully-featured mobile apps, it’s no wonder QuickBooks Online is one of our top accounting recommendations. Though there are occasional navigation difficulties, QBO is incredibly easy to use overall. There are six QuickBooks versions that allow business owners to manage their accounting and finances.
Integrated with QuickBooks Online, QuickBooks Payroll allows users to automatically calculate and run payroll as often as needed, starting at $45 per month, plus $4 per employee. Other add-ons, such as advanced inventory or time-tracking modules, could also increase the overall cost. Still, they provide significant functionality that is worth the investment for higher-growth businesses.
We found this setup feature to be a nice value-add that other competitors we reviewed don’t offer. You can also speak to a QuickBooks representative directly for one-on-one guidance. QuickBooks has done an excellent job incorporating AI functionality into its software. Intuit Assist is an AI-powered assistant that can help analyze your business’s finances and answer accounting questions.
