QuickBooks is a highly efficient and immensely popular accounting software that is owned by Intuit. It helps small to medium-sized businesses automate, streamline and simplify their accounting and bookkeeping processes.
This excellent software offers several versions to meet the accounting needs of small to medium sized businesses.All the versions of QuickBooks offer tools that can efficiently manage every routine accounting task. Additionally, there are more advanced versions which provide many more beneficial features that enable a user to set prices, manage contractors and track inventory.
QuickBooks has been developed in a way that its versions cater to a diverse range of accounting processes. Itsonline accounting software has a level for freelancers which iscalled QuickBooks Self-Employed and four levels for small businesses. These four levels range from simple to advance.
QuickBooks also offers two desktop versions. These are called Pro and Premier which are meant for one to five users. There is a desktop version called Enterprise which can manage efficiently thirty users and up to a million customers, vendors, and inventory items.
QuickBooks’ Types
QuickBooks Online Self-Employed
This version has been designed for freelancers. It allows the user to track income and expenses, track miles, organize receipts, run basic reports, estimate taxes, generate client’s invoice and accept payments. Its downside is, if a user starts with this version, he cannot upgrade it.
A user needs to start with one of the business software versionsto be able to upgrade to a different plan.
QuickBooks Online Simple Start
This version of QuickBooks has been designed for small businesses and sole proprietors. It allows its user to upgrade easily to other QuickBooks’ versions as and when he needs to do so, depending on his business’ growth. It has all the features of the self-employed version. Additionally, it offers features that let the user manage 1099 contractors, send estimates as well as track sales and sales tax.
QuickBooks Online Essentials
This is the next level of this online software. It has the features that form an integral part of the“Self-Employed” and the“Simple Start” versions. Apart from that, it offers additional features that enable the user to track time, manage bills and include three users.This is the third level of this online software. It includes all the features that are there in the previous versions. It provides extra features which allow the user to track inventory as well as project profitability and allows the inclusion of five users.
QuickBooks Online Advanced
It is an advanced level of this software and provides all the features that are included in the previous three versions. Additionally, the user can use it to pay bills,accelerate invoicing, experience smart reportingand create custom fields and custom user permissions as well as to receive priority customer service and training.
All the online plans include a thirty day free trail, app integration, payroll add-ons, along with customer support that is accessible through tutorials and online resources.
QuickBooks Desktop Pro, Pro Plus and Mac
QuickBooks’ desktop versions are installed on the user’s computer instead of being available for online access. These don’t include software updates unless the user pays for the Plus version. For the Plus version a user is required to pay a yearly subscription fee.
Desktop Pro can be availed at a one-time payment. It lets the user track inventory, sales and sales tax, income and expenses, manage bills and accounts payable as well as send invoices.
Desktop Pro Plus is available for a yearly fee. It has all the features that have been mentioned previously. Additionally, it offers unlimited customer support, access to software updates and data backup and recovery facility.