Quickbooks which one do i need

We didn't include overviews of the QuickBooks desktop software in this guide, because it's more expensive and doesn't have any added functionality. Even Intuit is pushing its business customers away from desktop products and toward the online versions, stating on the QuickBooks website that "3 out of 4 customers get more work done with QuickBooks Online vs.

QuickBooks Pro. In the side-by-side comparison on the site, you'll also see additional costs associated with the QuickBooks desktop software.

This reflects a larger trend in business software toward cloud-based software and away from downloaded software that lives on your computer. Because of this trend and the cost difference, we recommend online versions of products over desktop versions, unless you are in an industry with stringent compliance or security requirements that preclude you from using the online software. QuickBooks Online plans were overwhelmingly more popular with the entrepreneurs we spoke to than the desktop versions of the product.

The popularity of QuickBooks Online is likely because it is less expensive than the desktop version, can be used on mobile devices, and has no contract, giving entrepreneurs the freedom to upgrade or downgrade at will. Another benefit of QuickBooks' cloud-based software is its low maintenance requirements: When you use cloud-based software, the company typically rolls out updates automatically, which means you don't have to run updates in-house.

There are currently three versions of QuickBooks Self-Employed. Here's a breakdown of each product. You can always upgrade to a higher-priced version in the future, so if you're completely new to using a program like QuickBooks, it's not a bad place to start. Self-Employed gives you the ability to track business and personal expenses separately, track mileage automatically, create and send invoices from anywhere, estimate your taxes on a quarterly basis, and maximize your Schedule C deductions.

Like other tiered cloud software, QuickBooks adds more functionality with each tier while still including all the features of the lower levels. The TurboTax add-on includes the fees for one federal and one state return.

If you plan to file your taxes with TurboTax anyway, you might as well spring for this midrange version of QuickBooks. It includes the access of the lower tiers and these additional features for tax filing help:.

While these may be valuable features, we haven't personally tested them and cannot vouch for the efficacy of the tax professionals you'll have access to or the user-friendliness of the interface. Additionally, many small business owners already outsource the filing of their taxes to trusted accountants or high-street tax filing shops. If you want a dedicated accountant, you're probably better off hiring someone to work with for the long term, rather than relying on a rotating cast of remote accountants employed by a massive software company.

Like most software giants, Intuit offers lots of very similar packages of software with different names and slightly different terms and features. QuickBooks Online is intended primarily for small businesses, including single-person businesses as well as multi-person organizations.

The Simple Start version of QuickBooks is only suitable for a single user, so if you have employees, you can skip to the next tier. This basic small business subscription offers the ability to track sales and sales tax, track income and expenses, invoice and accept payments, store and organize receipts, and maximize tax deductions.

It does not include a subscription to TurboTax, though, and if you end up hiring more employees who also need access, you'll have to upgrade to Essentials, if not higher. With more reports baked in and additional capabilities for managing bills, such as tracking payment statuses and paying multiple vendors at the same time, it's a little boost from the Simple Start package. According to Intuit, Plus is the most popular online version of QuickBooks.

This version of the accounting software supports up to five users and includes the same features as Essentials and Simple Start, as well as the ability to track inventory and project profitability. For the increased price, you'll enjoy a dedicated account manager, business analytics, and the ability to import and send batch invoices, which is a real bonus for larger businesses. Editor's note: Looking for the right accounting software for your business? Hours can be entered for payroll and marked billable to pass thru to invoices.

Easily run reports to see billable time by customer and review time entries. Enter your vendor bills and track accounts payable. Review and pay multiple bills at the same time. Detailed reports will display who you owe money to — and who owes you. You can add the option to pay vendor bills electronically with Bill Pay powered by Bill.

Essentials has the option to create recurring transactions , saving you time and energy. Invoices, sales receipts, bills, and more can be created automatically on a schedule, as a template, or you can tell QuickBooks to remind you to create them.

This powerful automation will save you time. If you do business internationally, you can track income and expenses in multiple currencies. QuickBooks will automatically update exchange rates throughout the day. Essentials offers detailed reports for more insights into your financials and the ability to share custom reports with other users. Plus QuickBooks Online Plus has the features included in Simple Start and Essentials, plus more functionality for small businesses with more complex needs.

Plus supports managing multiple users. You can have up to five users and configure their access. You also can invite reports-only users to run reports, but not make changes. These users do not count toward the five-user limit. If you have segments of your business that you want to keep a close eye on and compare, you can turn on classes and location tracking , add up to 40 combined classes and locations, and assign them to transactions. If you buy and sell products, you can track inventory using first-in, first out FIFO valuation and easily review quantity on hand.

Create purchase orders, receive products via payment or bill, and monitor stock status. Run reports for stock counts and create inventory adjustments, as needed.

For businesses that perform work for customers by job with Project Profitability. Plus allows you to organize income, expenses, and time by project-by-project, as well as measure the profitability of the work performed. This job costing functionality helps you know which projects are helping your business grow. Plus also allows you to mark expenses as billable to pass through to customers and projects.

Create budgets to plan the year ahead and monitor income and expenses. Run budget vs. Advanced has even more controls for multiple users.

Advanced supports up to 25 users and up to three accounting firms. User permissions can be narrowed for the 25 users to better delegate work and restrict visibility. You can also invite time tracking and reports-only users, which do not count toward the user limit. Accelerated invoicing allows you to create multiple invoices at once for batch processing to multiple customers, or import hundreds of invoices at once via excel import.

You get access to excellent support service round the clock. In the case of cloud-hosted QuickBooks, customer service is provided by the cloud hosting provider. On the contrary, with locally installed QuickBooks, your only approachable customer support number is of Intuit, which is available during the day.

No, when you opt for hosting QuickBooks, you are not required to purchase any new or extra software. You can share the credentials of the existing version of QuickBooks with the hosting provider and continue with your work. The price of QuickBooks hosting differs as per the chosen cloud hosting provider.

Well, when you opt for QuickBooks hosting, you are basically using the same QuickBooks Desktop version, but just on the cloud. Simply put, QuickBooks Desktop is an effective cloud-based option. Drawing towards the end, it can be concluded that QuickBooks hosting on the cloud is a better solution if increased productivity is your ultimate goal.

QuickBooks Desktop is an ideal accounting solution as it just gets to an ameliorated version of itself when hosted on the cloud. Aditi is a writer associated with Sagenext.

Her work can be spotted with an undimmed opening line and a structured flow. Sagenext Infotech LLC is an independent cloud hosting company that hosts legally licensed QuickBooks, Sage Products, and other tax and accounting applications.

All Rights Reserved. Support My Account Contact Us. QuickBooks on the Cloud- A Game-Changer When a user purchases any software for their tax and accounting needs, uncountable thoughts go into it. Working of QuickBooks Desktop When you decide to go the old-fashioned way and opt for QuickBooks desktop, you require buying the software from Intuit. How does QuickBooks Hosting Work?

Software Setup The quintessential part of any software is its setup. Customer Service Another benefit of QuickBooks hosting is customer support. How much does QuickBooks Hosting cost per month? Can you use QuickBooks hosting and Desktop? Share this post on. Know the author. Aditi Aditi is a writer associated with Sagenext. Get the Answer Here.