QuickBooks is an accounting software package developed and marketed by Intuit. Accounting software needs to be feature-laden for it to be useful for a small business, and that’s what we looked for when considering QuickBooks alternatives. For small and growing businesses, Xero offers some limited plans at affordable prices, but the Established plan for $70 per month is the better option if you’re looking for a QuickBooks alternative.
- QuickBooks offers a separate and free invoice generator, which does not require a subscription, where you can easily download templates for Microsoft Word, Microsoft Excel and PDF.
- You can then share the invoice with clients through the mail or take a printout and send a hard copy.
- It’s intuitive and lacks the accounting industry terms you may not know as a business owner.
- Small businesses that prefer locally installed software and work with a PC.
- QuickBooks is one of the leading Accounting software that has revolutionised Financial Management for companies.
Xero is one of the best QuickBooks alternatives because it’s rich with features established businesses need to manage finances and projects. In particular, QuickBooks Online comes with the ability to perform automatic online backups. You also get access to QuickBooks software that you can install onto your Mac or Windows PC, plus the QuickBooks Online mobile app for iOS and Android. Plus, QuickBooks Desktop integrates with over 200 third-party apps, so you can add extra accounting functionality that way too. Fortunately, QuickBooks offers a 30-day free trial, so you can test out all the features for yourself. Plus, QuickBooks Desktop Enterprise comes with a 60-day money-back guarantee.
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Know where your money is going
We use product data, strategic methodologies and expert insights to inform all of our content and guide you in making the best decisions for your business journey. Additionally, if you’ve requested a QuickBooks Desktop product in the past, you can still request QuickBooks Premier 2021 and QuickBooks for Mac through TechSoup. That said, we expect that Intuit will end support for the QuickBooks 2021 product line sometime in 2024 and QuickBooks for Mac in 2025.
You can even photograph and save receipts with the QuickBooks Online mobile app. There is even a setting in the rule that will automatically add to register. Automation of data entry is where it’s at, and bank feeds are your way to get there. You can access your feeds from the homepage at the far right or from the Banking tab in the left nav bar.
As with time, these billable expenses will be available to add to the customer’s next invoice. You don’t need the payroll add-on to track employee time for billing purposes. You need at least QuickBooks Essentials to track billable hours and Plus to track billable expenses. You can pay bills online in QuickBooks using the online bill payment feature.
The great thing about tiered subscriptions is that they scale with your business as you grow. So, you may be able to start with the lowest tier around $20 per month, but when you need to set up recurring bills or purchase orders, you could justify subscribing to a higher cost for those features. Top-tier plans can cost as much as $200 per month, but at this level, you get uncommon features, such as workflow automation, advanced analytics and dedicated customer support. Whether you think QuickBooks is the best choice for your small business or you think a QuickBooks alternative is better, you should make a checklist of your needs. Aside from the obvious features, such as double entry and time tracking, you should look for software that offers payroll, bill payment and is affordable for your budget. There are some features missing from FreshBooks that you might want, such as inventory tracking and line-item accounting.
Batch invoicing allows you to create multiple invoices at once rather than creating them one at a time. This can be useful if you have many customers who need to be invoiced for the same products or services. You just need to create a single invoice template and then apply it to all the customers who require the same invoice. The Plus Plan is $25.50 per month for the first three months, then becomes $85 per month, and adds up to five users. It also has inventory management and gives you the ability to project profitability with forecasting reports. The Advanced Plan is the final tier for $60 per month for the first three months, then reverts to $200 per month.
You’re All Set
Small and medium-sized businesses that need industry-specific tools. In addition to some native QuickBooks Online integrations—such as QuickBooks Payroll, QuickBooks Time, and QuickBooks Payments—QuickBooks Online connects with popular apps. These include PayPal, Melio, HubSpot, Expensify, LeanLaw, Square Payroll, and Expensify. QuickBooks allows you to attach a receipt to the corresponding banking transaction. You can upload an unlimited number of receipts to QuickBooks Online as the receipts are stored in the cloud along with your data.
QuickBooks Online at a Glance
She holds a Bachelor’s degree from UCLA and has served on the Board of the National Association of Women Business Owners. She also regularly writes about business for various consumer publications. If you’re a startup with plans of expanding your workforce, QuickBooks Self-Employed won’t be the best fit as it cannot be upgraded to other QuickBooks versions.
Features are geared towards freelancers, small, and medium-sized business owners. This article will focus on what is QuickBooks Online, but you can also find information on the Desktop and Mac versions. From side-hustles to complex companies, we have the tools you need to run your business. Find help articles, video tutorials, and connect with other businesses in our online community.
Does quickbooks offer a bookkeeping and accountancy service?
If you want the speed and usability of desktop software, then QuickBooks Desktop is preferable. Learn which is right for you in our QuickBooks Online versions comparison guide. QuickBooks Online is a cloud-based software that can be accessed anytime and anywhere from any internet-enabled device and has monthly subscription options.
Comparing QuickBooks Versions: The Bottom Line
For example, if you do business in USD, but live overseas, getting paid and paying others is complex and can take up a lot of time. If you’re planning to try out the software for free and find that you like it, you need to start one of the pricing plans to keep your data. For freelancers, the ‘self-employed’ plan covers everything from tax deductions to basic reports. You’ll be relieved to know that QuickBooks offers flexible payment solutions.
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There’s also the option of a 30-day free trial you can take advantage of to try before you buy. This way, the customer or supplier can pay your invoice in their local currency. Advanced Inventory is included in the how to calculate variable overhead rate variance Platinum and Diamond subscriptions only. Advanced Reporting is included in all QuickBooks Desktop Enterprise subscriptions. QuickBooks comes in different versions to meet the diverse requirements of various users.