So, you are considering QuickBooks.
You’ll be wondering if it's a good choice for you, if its feature set compares well to other options on the market, and if it is priced affordably enough for what you get.
This article will break all that down for you and more.
Plus, at the end of the article you’ll find links to alternatives to QuickBooks as well as our top picks for the options in this category.
Or, just go straight to Our top picks for Best Accounting Software.
Without further ado, let’s get started.
QuickBooks helps businesses, freelancers, and self-employed people to properly account for their expenses and income. You can make payments to contractors or employees and maintain profitability by auto-tracking the expenditures. QuickBooks provides salient accounting features, enabling you to analyze your profit margins.
Here are some exclusive features of QuickBooks:
Cloud Accounting: QuickBooks offers mobile access to its database and provides online banking integration, automatically updating your transactions and statements. You can monitor the real-time status of your expenses or invoices from anywhere and remotely handle the accounting.
Business Funding and Income Tracking: QuickBooks syncs the bank transactions and tracks the total cash flow of your business. It helps you properly allocate funds to your business endeavours and maintain profit margins after operating costs. Additionally, you can create Tax-compliant invoices and track unpaid GST bills to remind clients about payment.
Online Banking: QuickBooks brings your banking activities online and offers One-click reconciliations. You can connect different bank accounts with QuickBooks and auto-categorize transactions to match expenses or invoices. QuickBooks enables you; to stay on top of your financial situation and maintain cash flow.
Accounting Reports: QuickBooks offers real-time insight into your business data and generates financial reports showcasing balance sheets, profit margins and cashflow statements. You can track all pending invoices and avoid chasing payments at the last second. QuickBooks offers customized data analysis helping you identify business trends.
Inventory Management: QuickBooks helps you easily handle the business inventory and get a real-time evaluation. Your inventory list is automatically updated whenever you make a sale or add a new product. QuickBooks helps you track your restock orders from the vendors and keep every sale recorded in the database.
QuickBooks offers 4 Pricing options for its accounting software.
The "Simple Start" plan is priced at $25/month and offers general reports, receipt capture, plus mileage tracking. Additionally, you can manage tax deductions, incomes and expenses or invoices and payments.
The "Essentials" plan is priced at $50/month and offers enhanced reports, bill management, plus sales tax estimation. Additionally, you get 3 User accounts and can assign vendor payments to contractors.
The "Plus" plan is priced at $80/month and offers inventory management plus project profitability determiner. Additionally, you get 5 User accounts and can convert estimates to invoices.
The "Advanced" plan is priced at $180/month and offers customized access, on-demand training, data restoration, plus workflow automation. Additionally, you get more than 5 User accounts and can do business analytics with Excel or manage employee expenses.
QuickBooks Discounts and Coupons
QuickBooks currently offers a 50% discount on its pricing options. You can avail the offer by opting for the quarterly subscription plan.
QuickBooks Free Trial
QuickBooks currently does not offer a free trial for its accounting software. However, you can contact the sales team and schedule a live demo to see QuickBooks in action.
QuickBooks, A Short How-To Guide
Once you login to your QuickBooks account, you'll enter the dashboard section. On the top, you'll see your company name and logo. On the left, you'll see the navigation bar with a "New" tab. Here, you can run reports, manage expenses or make payments.
In the dashboard, you'll see the business overview. You can see summaries of your invoices, expenses, profit-loss, sales and bank balance. This data can be a little sensitive, so you can use the "Privacy" button to hide it from prying eyes.
When you click the search button, you'll see a list of all your most recent transactions. If you're firing up QuickBooks for the first time, go to the "Settings" option. Here you'll see 3 Main columns; "Your Company", "Lists", and "Tools".
Under the "Company" section, you can find your accounts and settings. Here, you can add a company logo and change the company name. These changes will show up in your next invoices.