QuickBooks Online is a cloud-based accounting software that is designed to help small businesses manage their finances more efficiently. It offers a range of features, including invoicing, expense tracking, financial reporting, and more. In this review, we will take a closer look at QuickBooks Online, its features, pricing, and ease of use.
Features
One of the most significant advantages of QuickBooks Online is its range of features. Here are some of the key features that QuickBooks Online offers:
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Invoicing: QuickBooks Online makes it easy to create and send professional-looking invoices to your customers. You can customize your invoices with your logo and branding, and even set up recurring invoices for regular customers.
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Expense tracking: With QuickBooks Online, you can track your expenses by connecting your bank and credit card accounts. This makes it easy to categorize your expenses and keep track of your spending.
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Financial reporting: QuickBooks Online offers a range of financial reports, including profit and loss statements, balance sheets, and cash flow statements. These reports can help you understand the financial health of your business and make informed decisions.
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Time tracking: If your business bills by the hour, QuickBooks Online offers time tracking features that allow you to track your time and bill your customers accordingly.
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Inventory management: QuickBooks Online includes inventory management features that make it easy to track your inventory levels and create purchase orders.
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Payroll: QuickBooks Online offers a payroll feature that allows you to pay your employees and file payroll taxes. This can save you time and ensure that you are complying with all relevant tax laws.
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Mobile app: QuickBooks Online has a mobile app that allows you to access your finances on the go. You can create and send invoices, track expenses, and view financial reports from your smartphone or tablet.
Ease of Use
QuickBooks Online is designed to be easy to use, even for those who are not accounting experts. The user interface is intuitive, and many of the features are easy to set up and use. Here are some of the ways that QuickBooks Online makes accounting easier for small business owners:
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Dashboard: The QuickBooks Online dashboard provides an overview of your business's financial health. It includes key financial metrics, such as income, expenses, and profits, as well as shortcuts to frequently used features.
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Setup wizard: When you first set up QuickBooks Online, the setup wizard guides you through the process of connecting your bank accounts, setting up your chart of accounts, and customizing your invoicing and payment settings.
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Help center: QuickBooks Online includes a help center with a range of resources, including video tutorials, how-to guides, and a community forum where you can ask questions and get advice from other QuickBooks Online users.
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Integration: QuickBooks Online integrates with a range of other software programs, including PayPal, Shopify, and Square. This makes it easy to sync your financial data across multiple platforms and simplify your accounting process.
Pricing
QuickBooks Online offers a range of pricing plans to meet the needs of small businesses. The plans differ in terms of features offered and the number of users allowed. Here are the current pricing plans for QuickBooks Online:
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Simple Start: This plan is designed for new businesses and includes features such as invoicing and expense tracking. It costs $25 per month.
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Essentials: This plan includes all the features of Simple Start, as well as time tracking and bill management features. It costs $40 per month.
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Plus: This plan includes all the features of Essentials, as well as inventory management and 1099 contractor management features. It costs $70 per month.
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Advanced: This plan includes all the features of Plus, as well as advanced reporting and custom user permissions. It costs $150 per month.
QuickBooks Online also offers a 30-day free trial, which allows you to try out the software before committing to a paid plan.
Pros and Cons
Pros:
- QuickBooks Online is a cloud-based software, which means that you can access your financial data from anywhere with an internet connection.
- The software is designed to be easy to use, even for those who are not accounting experts.
- QuickBooks Online offers a range of features, including invoicing, expense tracking, financial reporting, and more.
- The software integrates with a range of other software programs, making it easy to sync your financial data across multiple platforms.
- QuickBooks Online offers a range of pricing plans to meet the needs of small businesses.
Cons:
- While QuickBooks Online is designed to be easy to use, it can still be overwhelming for those who are not familiar with accounting software.
- The software can be expensive, especially for businesses that require multiple users or advanced features.
- Some users have reported issues with customer support, including long wait times and unhelpful representatives.
Conclusion
QuickBooks Online is a powerful accounting software that offers a range of features to help small businesses manage their finances more efficiently. While the software can be expensive, it offers a range of pricing plans to meet the needs of small businesses. Overall, QuickBooks Online is a great option for small business owners who want to simplify their accounting process and gain greater insight into their financial health.