QuickBooks Online is a cloud-based software solution for accounting services. The software solution aims at covering all critical accounting needs for your business. QuickBooks Online also serves to be a subscription-based software service that is a great solution for multiple industries. The software is also beneficial for those who regularly have to work with an accountant or a bookkeeper. It is because you can offer them access to the respective files. Here is an in-depth QuickBooks Online review for you.
An Overview of QuickBooks Online
QuickBooks Online has been rated as one of the best accounting software solutions by multiple review platforms. This is because it is available as a comprehensive platform or software solution capable of checking all aspects of accounting, expense tracking, and invoicing. If you are not sure about the efficiency of the product, you can also consider giving it a dry run of 30 days by leveraging the entire capabilities of the unique Simple Start Plan to observe whether or not the software solution meets your needs.
QuickBooks Online is a leading cloud-based solution that boasts the presence of high-end features like multiple currencies, inventory management, customizable invoices, more than 650 integrations, and strong reporting. Moreover, QuickBooks Online also offers access to a wide range of advanced features that are not available with the standard QuickBooks Desktop version. Some of the advanced features include split transactions, automatic sales receipts, class & location categories, and scheduled invoices. Some additional features of QuickBooks Online that enhance the capabilities of the software solution are the QuickBooks Live Bookkeeping and the QuickBooks Capital Lending add-ons, along with the easy-to-use platform, mobility, and user-friendliness.
The software is regarded as more straightforward to use than its desktop counterpart. Still, it features a semi-steep learning curve. Therefore, users can think of facing navigational difficulties with the software occasionally. If you require help, longer support wait times can also be challenging. Rapid increases in the pricing plans over the years have also made QuickBooks Online a costly choice for most small business owners. Still, QuickBooks Online is regarded as the ideal solution if you are looking for an easy-to-use and user-friendly cloud-based software solution.
QuickBooks Online Review Based on How It Works?
Once you have signed up for QuickBooks Online, you can go ahead with logging into your account while accessing the primary dashboard view. If you aim at moving to QuickBooks from some other software solution, it is easier to import files to the all-new account.
The primary dashboard of the software will offer an overview of the entire QuickBooks Online account. It gives insight into important information like sales, expenses, cash flow, invoices, and so more. With the help of the Banking tab situated on the left end of the dashboard, you can quickly think of connecting your credit card and bank account details. This allows QuickBooks Online to download important transactions while categorizing the same for you. As you reconcile your books, later on, you can review the respective transactions from the For Review tab in the Banking menu.
Additionally, the software provides features like customizing invoices, setting up automatic sales tax tracking, and learning the role of mobile bills and receipts. It is also possible to edit all the account settings of your business with the help of the gear icon -situated in the upper right corner of the dashboard. If you would like to send an invitation to your accountant or bookkeeper to use your account QuickBooks Online.
Benefits of Using QuickBooks Online
Robust Set of Features
There are specific reasons why QuickBooks Online is regarded as the industry standard for the best accounting software for small businesses. Here are some unique features of the software solution:
- Record-keeping and Reporting: QuickBooks Online makes it easier to maintain detailed, thorough records. For instance, if are adding an expense, you can include details like permit numbers, reference numbers, memos, and attachments. It is also possible to split the overall expense into different items or categories.
There is no requirement to fill out every single field in the income or expense entry. For instance, with QuickBooks Online Advanced and Plus variants, it is possible to track inventory while conducting job costing.
- Inventory Management: With the help of Advanced and Plus versions of QuickBooks Online, it is possible to track inventory as well as the total cost of goods while setting up alerts for low stock. You can also go ahead with creating purchase orders, managing vendors, and syncing your inventory with the help of third-party platforms like Shopify and Amazon.
Multiple App Integrations
QuickBooks Online offers access to a great marketplace featuring more than 650 apps -including third-party applications and multiple QuickBooks Online add-ons.
For instance, with the help of QuickBooks Time, you can effectively track employee time within QuickBooks Online directly while also approving timesheets.
Ease of Finding QuickBooks Online Resources
Whether you wish to manage QuickBooks Online yourself or hire a professional to do it, you will face no hassles in accessing online resources for using QuickBooks Online. The software comes up with detailed tutorials, training classes, and webinars. Moreover, you can also get access to support topics, community forums, and other relevant resources on the website. There is the option to contact the customer support service of QuickBooks Online directly if there is a need.
QuickBooks Online Review Based on Pricing
QuickBooks Online is available with four distinct pricing tiers. Some of the most expensive tiers feature in-depth reporting, additional users, and a wide range of advanced features. QuickBooks Online also offers a free trial version of 30 days with 3 pricing plans along with a test-drive account for QuickBooks Online Plus and a demo version of the Advanced pricing plan. There is no requirement for any contract or credit card information. Additionally, users can consider canceling their services at any given time.
QuickBooks Online Simple Start Plan: It is available for $30 per month and delivers access to the following set of features:
- Reporting
- Live bank feeds
- Unlimited estimates
- Mileage tracking
- Unlimited invoices
- Expense tracking
- A single user
- Integrations with more than 650 apps
QuickBooks Online Essentials Plan: It is available for $55 per month and has the following features in addition to those available in the Simple Start Plan:
- Three users
- Time tracking
- Accounts payable
QuickBooks Online Plus Plan: It is available for $85 per month and has everything from the QuickBooks Online Essentials Plan, along with:
- Five users
- Project management
- Inventory
- Class tracking
QuickBooks Online Advanced Plan: It is available for $200 per month. It features everything available in QuickBooks Online Plus Plan, along with the following:
- A dedicated customer success manager
- Automated workflows
- Customer user permissions
- A Fathom-based subscription for advanced analytics and reporting
- Exclusive premium apps
- Priority care
- 25 users
- On-demand QuickBooks Online training online.
QuickBooks Online Review Based on Additional Fees and Costs
While your standard plan for QuickBooks Online has all the relevant features that you can expect from reliable accounting software, you can still access some additional features. For instance, QuickBooks Online Payroll is one of the most famous add-ons available out there. With QuickBooks Payroll, you can expect prices to range from $45 to $125 per month, along with $5 to $10 for every employee.
You can also go ahead with buying a customized invoice template for $4.99 or paying for e-filing services -starting at $14.99. Another leading add-on by QuickBooks Online is QuickBooks Contractor Payments. It is an ideal solution for businesses that are expected to make payments to 1099 contractors. The service for QuickBooks Contractor Payments starts at $15 per month while capable of handling around 20 contractors.
If you wish to outsource business-centric bookkeeping tasks -like reconciling accounts, categorizing transactions, closing the books, reviewing the financials, and so more, then you can think of paying for QuickBooks Live Bookkeeping. This service will match you with a personalized QuickBooks Advisor with the necessary certifications, along with a dedicated accounting expert. The prices for the same will range from $200 to $600 every month. Moreover, these prices are based on the dollar amount of your overall monthly expenses.
QuickBooks Online Review Based on Ease of Use
QuickBooks Online is easy to use and highly intuitive. The User Interface of the platform features a beautiful design, however, the overall organization of the platform can be improved. The presence of the built-in Help button makes it simpler to come across all the hidden features and functionalities of the software solution.
Conclusion
QuickBooks Online is available with a wide range of features while delivering access to complex accounting capabilities required by small business owners. The software also offers access to impressive app integrations and a unique set of features absent in other similar software solutions.
