Managing your business takes a lot of hard work. Especially when you have just started and need more knowledge of how it works. This is where QuickBooks comes in handy. It does your management for you. This article will mainly talk about Quickbooks Online Review so you can make an informed choice about the product.
QuickBooks Online (QBO) is a popular cloud-based accounting software program that offers complete financial management, like invoicing, budgeting, and tracking reports.
What is QuickBooks Online?
QuickBooks Online is a software popular with small business owners who want to keep it simple but have the flexibility to take advantage of online sales and marketing tools. It is fast and easy to use with full support for Intuit’s premier product, QuickBooks.
QuickBooks Online allows users to track their finances, manage bills and invoices, and send estimates. The software comes with an easy-to-use dashboard that allows business owners to see their financial health at all times. In addition, QuickBooks Online has features like inventory management, sales tax tracking, and reporting, so you can ensure your business’s numbers are always accurate.
QuickBooks Online is a great option if you’re looking for a simple accounting solution without the hassle of installing software. It is also ideal for those who want to keep their financial management software up-to-date with the latest technology.
The Quickbooks Online Review
Following are some of the crucial parameters when it comes to Quickbooks Online Review. These parameters will help you judge whether the application can be of great use.
Pricing
QuickBooks Online is subscription based. There are several different subscriptions that they offer. They have a simple start plan for 15$ / month (as of October 2022), which is perfect for small businesses just starting. However, if you still need to get customers, this might be a great one to start with to see if you like QuickBooks.
From there, you can move right up to the advanced plan, which has many more features according to your needs. They also have an essential plan for $55 per month, plus an $85 per month and an advanced plan for $200 per month – all tailored for different needs and purposes. The following table gives details of the features offered.
| Plan | Simple Start | Essentials | Plus | Advanced |
| Pricing/ Month | $30 | $55 | $85 | $200 |
| Features | Income and expenses | Income and expenses | Income and expenses | Income and expenses |
| Invoice and payments | Invoice and payments | Invoice and payments | Invoice and payments | |
| Tax deductions | Tax deductions | Tax deductions | Tax deductions | |
| General reports | General reports | General reports | General reports | |
| Receipt capture | Receipt capture | Receipt capture | Receipt capture | |
| Mileage tracking | Mileage tracking | Mileage tracking | Mileage tracking | |
| Cash flow | Cash flow | Cash flow | Cash flow | |
| Sales and sales tax | Sales and sales tax | Sales and sales tax | Sales and sales tax | |
| Estimates | Estimates | Estimates | Estimates | |
| Contractors | Contractors | Contractors | Contractors | |
| Includes three users | Includes five users | Includes more than five users | ||
| Bill management | Bill management | Bill management | ||
| Enter time | Enter time | Enter time | ||
| Inventory | Inventory | |||
| Project profitability | Project profitability | |||
| Business analytics with Excel | ||||
| Employee expenses | ||||
| Batch invoices and expenses | ||||
| Customized access | ||||
| Exclusive Premium Apps | ||||
| Dedicated account team | ||||
| On-demand training | ||||
| Workflow automation | ||||
| Data restoration |
* As of October 2022, QuickBooks offers a flat 50% off the first three months for new users.
Benefits of using QuickBooks
When reviewing Quickbooks Online, you have to agree with one thing. Quickbook always keeps detailed records of your small business needs. In addition, the software has several features that make it a good choice for accounting needs, including accessing your files from anywhere, whether you’re working at home or on the go.
The QuickBooks software allows you to create comprehensive reports that can be used as a basis for making important business decisions. Quick access to this data makes it easier to see how your money is performing in your business. These reports help us understand exactly that. They give you your business’s financial situation.
QuickBooks Online is designed to be easy to use, thus including various time-saving features, one of the most prominent ones being able to sync QuickBooks Online with other applications, including ones from Intuit and Microsoft.
The downside to QuickBooks Online
The purpose of a genuine Quickbooks online review is to mention the advantages and disadvantages. QuickBooks Online is a good accounting solution for small businesses, but it does have some downsides. For example, if you’re a very small business that doesn’t need all of the features offered by QuickBooks Online, other options better suit your needs.
It is expensive and needs to be more appropriate for its target population. When you are a small business, it is more likely that your income is small as well. You want to invest it in the management of your expenses with others. Alongside being expensive, it is a subscription-based service, which means you have to pay for it each month. It limits your ability to customize the app and make changes.
QuickBooks Online has made some changes to its service that may need to be more appealing to users. It no longer offers a free trial period for new users. If you want to try out the service before committing, you’ll have to pay a fee of $5 per month or $50 per year. And the free version of QuickBooks Online is a bit limited. While it’s great for basic accounting, it won’t allow you to do much else. In addition, it’s less full-featured than other web-based accounting programs.
Alternatives to QuickBooks Online
There are some great alternatives to QuickBooks Online. One of the popular alternatives is FreshBooks. It’s a cloud-based accounting solution offering many of the same features as QuickBooks but at a lower price.
Wave is also a cloud-based accounting solution with all the features of QuickBooks without price tags or restrictions. It’s easy to use and lets you customize your invoices, estimates, and purchase orders. You can also look into Wave, Gusto, and Xero for more affordable alternatives to QuickBooks Online.
The sole purpose of this Quickbook Online review is to make you have the best in the market and make an informed decision regarding the purchase. Hence if you go for an alternative to QuickBooks online, those mentioned above will surely help.
Conclusion
QuickBooks is an excellent software for management. While it is so, it has certain needs associated with it. We have tried to convey each aspect of it. We hope that you found this QuickBooks online review quite helpful and will share it with your loved ones so they can also make an informed decision regarding the purchase of Quickbooks Online. Please feel free to reach out if you have any questions.