An internet survey where owners of the small business were asked – What is your choice or what type of accounting software they rely on? Variety of answers were expected with much different accounting software expected to make to the top of the list. However, QuickBooks came as the most desired and recommended accounting software for a business entity. Different entrepreneurs selected different QuickBooks versions as their pick.
QuickBooks is a comprehensive accounting software that is available in online and desktop versions. Today, QuickBooks Online is the most sort after accounting software. It is a comprehensive choice over the desktop versions for many consumers today. Though, several features are specific to the “Desktop versions” and are missing in QuickBooks Online.
A comparison of QuickBooks versions is a difficult task as all versions are self-complimenting and best-suited for a specific segment. We have tried to provide some of the latest features and plans available to help you in making the right choice. If you would like more detailed description, please contact QuickBooks Support.
QuickBooks Online plans are trendy amongst entrepreneurs who use the QuickBooks desktop versions. QuickBooks Online is quite popular as it is cheaper compare to the desktop versions. Additionally, you can use QuickBooks Online on mobile devices without any contract. This equips the entrepreneurs to upgrade or downgrade as per their will.
There are two QuickBooks self-employe versions available, with the same QuickBooks features offer in both versions. QuickBooks Self-Employed Tax Bundle also has Turbo Tax included in the package. QuickBooks Self-Employed enables easy separation of your business and personal expenses with automatic mileage tracking at your disposal, generate and send invoices & significantly increase your “Schedule C deductions.” You can easily calculate your estimated taxes quarterly.
The” Simple Start” option is inherent with almost all functions of the “self-employed” version (it lacks in schedule c deduction optimization) with several other features added to it. The “Simple start” is an option in QuickBooks Online that can track your income & expenses, it will download and organize bank transactions, manage credit card transactions, import data from an Excel file or QuickBooks desktop, print checks, take receipts pictures, give access to up-to two accountants as well integrate with available apps. You have built-in security, automatic data back-up and in access of 20 built-in business reports.
It includes all the features of the “Simple start” and additionally allows, up-to three users to work on. It has more than 40 built-in business reports that will help to compare the sales and profits with the industry trends.
The package also simplifies the billing process with the automatic billing of invoices, easy management of bills from vendors, bills entering and schedule the payments for a later date, handle numerous currencies and easy tracking of billable hours by the customer. Essentials are equipped with all basic security level features for QuickBooks products, with an add-on to control each user access.
QuickBooks Plus is the highest version in the QuickBooks Online Product line. It allows access to a maximum of five people. The plan boasts more than 65 built-in business reports, it has all the functions of the lower versions and supports an enhanced inventory & analysis options. Amongst other good features, you can prepare as well as print the 1099s, track multiple store profitability and keep track of sales. You can use the QuickBooks class tracking to categorize income and expenses, generate and send Purchase orders.
An excellent feature is that you can create Budgets to analyze future income and expenses. With QuickBooks Plus, you have a great tool in hand that is more than a basic accounting service and might be essential for a rapidly growing small and medium business entities.
That is all for this article. Hopefully, now you are well aware of the various plans that are popular, especially in QuickBooks Online. However, if you are unable to decide version to pick, dial at QuickBooks ProAdvisor support number 1-877-263-2742 and get an answer to all your queries.
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