Quickbooks Cost and Plans for the UK 2024

QuickBooks offers UK businesses smart online and cloud based ways to manage accounting and business admin, from tax to time tracking, income and expenses, stock management and reporting. But what does QuickBooks cost?

If you’re interested in the pricing for QuickBooks plans and subscriptions, this guide is for you. We’ll work through the different plan options and costs, so you can compare.

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QuickBooks offers - quick overview

QuickBooks launched back in 1992 as part of Intuit, and offers online and cloud accounting packages with monthly and annual subscription packages and a variety of different options to suit sole traders, SMEs, and larger organisations.

QuickBooks accounting software packages cover core business functions including tracking income and expenses, preparing and submitting tax and VAT, and reporting to improve business performance. There are also optional payroll packages including both core and advanced functionality available if you have employees.

The exact features and services you get with QuickBooks depend on the package you pick - we’ll look at that in more detail later. However, as an overview, some of the features available include¹:

Setup and support:

• Get online and phone support and an onboarding session

Tax:

• Prepare tax for self assessment, and get income tax estimates
• Submit VAT to HMRC and get VAT reminders and error checks
• Calculate and submit CIS

Everyday admin:

• Connect to your business account for easy reconciliation
• Snap and sort receipts for expense management
• Track mileage and run reports to review spending
• Manage income and expenses
• Send invoices including ‘pay enabled invoices’
• Get cash flow insights
• Create invoices, quotes and estimates
• Manage across 145+ currencies

Employees and projects:

• Add employees and track their time and productivity
• Manage employee expenses
• Manage budgets

Advanced functions:

• Restore company data
• Batch invoices and automated invoices
• Customise access permissions
• Generate reports, and insights in Excel

Optional add-ons:

• Optional add on for payroll support (fees apply)

QuickBooks cost

So - is QuickBooks worth it?

The QuickBooks cost you pay depends on the plan you pick, but also the way you pay: monthly or annually. While QuickBooks offers may change from time to time, there are steep discounts at the time of research for 6 months on monthly plans or a full year if you pay annually.

There’s also the option to get a QuickBooks UK free trial, which lets you test out your system for a month with zero fees. This is a no-risk way to check out whether or not it’s the right service for you.

Here’s a look at the QuickBooks cost for monthly and annual subscriptions¹:

*Correct at time of writing - 16th October 2024

QuickBooks plans

As we’ve seen, there are several different QuickBooks plans which split out according to target customer. Each offers different features which suit the type of business, based on size and complexity. The features you get build as you move up through the QuickBooks subscriptions, right up to the Advanced package which has all the features of the other plans, with some extras thrown in.

Here’s how QuickBooks plans shape up, based on the target customer and what features you’ll get:

QuickBooks prices for add-ons

QuickBooks offers payroll services as an add-on for customers on most of its plans.

You could choose the Standard Payroll² service, which includes features like these:

• Cloud based so you can manage payroll anywhere
• Keeps you HMRC compliant with direct submissions to HMRC
• May different employees on their own schedule
• Stay compliant with statutory payments
• Assess and auto enrol employees for pensions where needed

Or opt for the Advanced Payroll³ service, which has all of these features, plus:

• Automatic pay runs
• Choose your own payroll frequency
• HR features like tim sheets and rotas
• Calculates statutory payments and deductions
• Automatic pension submissions to 5 pension providers
• Advanced reporting and custom integrations

Learn more about QuickBooks payroll services, including QuickBooks standard and advanced payroll options, in the full QuickBooks payroll guide.

FAQs - QuickBooks cost

Is there a free version of QuickBooks?

QuickBooks charges a monthly or annual subscription fee. However, there’s a QuickBooks UK free trial offer at the time of writing which could get you a month’s use of the plan of your choice, with no fee to pay.

What is the cheapest QuickBooks option?

Quickbooks has different plans for different customer needs. The cheapest option is marketed to Sole Traders who are not registered for VAT, and who need to prepare a tax self assessment. This costs 10 GBP/month or 108 GBP/year, with steep discounts in the first 6 or 12 months.

Does QuickBooks UK offer a free trial?

At the time of writing, there’s a QuickBooks UK free trial offer which could get you a month’s use of the plan of your choice, with no fee to pay. While the QuickBooks cost you pay can vary from time to time, it’s well worth looking at available discounts or trials before you sign up.

Is QuickBooks worth it?

QuickBooks offers a range of different plans for different customer needs. Whether or not it’s a valuable or worthwhile service for you will depend on your preferences and business type. Use this guide to compare some of the options for QuickBooks to help you decide.

Do you need an accountant if you use QuickBooks?

QuickBooks recommends that you still have an accountant to check over your final tax return and ensure everything is complete and compliant if you have a more complex business, or if you're unsure about the tax rules for your specific business type.

Is there a QuickBooks lifetime subscription?

QuickBooks does not market a lifetime subscription. You can pay monthly or annually.

International finances made easy with Wise Business account

Wise can help UK businesses, freelancers and sole traders to manage finances across multiple currencies, with low fees and the mid-market exchange rate.

When you open a Wise Business account, you’ll benefit from all of these useful features:

• Hold and exchange 40+ currencies;
• Send payments to 160+ countries for low fees and the mid-market exchange rate - this is a fair exchange rate with no margins or mark-ups added to it;
• Get local account details to get paid in 8+ currencies like a local;
• No monthly fees or minimum balance requirements;
• Debit and expense cards for you and your team, which you can use in 150+ countries;
• Multi-user access for team members, with ways to control and manage permissions;
• Pay up to 1,000 people at once with the Wise batch payments feature;
• Integrate with your favourite cloud accounting solutions, including Quickbooks.

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Sources used in this article:

Sources last checked October 23, 2024