This Payroll4Free Review will cover all you need to know, including fees, pros and cons - to help you decide if it's the best choice for your business.
QuickBooks (QB) is a leading tool for tracking business income and expenses. There are several different types of QuickBooks applications. These include several online based plans, as well as different desktop versions.
Each version of QuickBooks works best for different types of users or businesses. This guide looks at all the options, and will help you answer the question: ‘Which QuickBooks is right for me?’.
QuickBooks from Intuit is available in several different versions. These offer much of the same functionalities, and ways of working. There are differences, though, in both features and access methods.
QuickBooks Online and Self-Employed are cloud-based and user-friendly solutions. QuickBooks Desktop and QuickBooks Mac Plus are traditional software options. Most of these options are offered with different pricing plans.
The following list is a summary of the main QuickBooks products and plans available:
|QuickBooks Mac Plus
|QuickBooks Mac Plus⁴
|Number of users
|Up to 25 users
|1 user, plus 1 accountant user
|3 users for Pro Plus; 5 users for Premier Plus; 40 users for Enterprise
|Up to 3 users
|Small and medium sized businesses
|Freelancers and contractors
|Large businesses, or small and medium sized businesses with advanced accounting needs
|Businesses that want locally installed Mac software
|💡 There may be discounts and offers available on the QuickBooks site, it's worth checking what the current best prices are for your business.
QuickBooks Online is the main online, subscription-based product from QuickBook. It is very popular with small and medium sized businesses.
It offers a simple and easy to use interface. Functionality includes most accounting features that these businesses need.
QuickBooks Online is available in four different versions. Simple Start and Essentials are perfect for the smaller company. They are lower priced but still offer full accounting functionality.
The Plus and Advanced versions offer additional features. These include inventory management, job costing, profitability calculations, and enhanced reporting. They also allow more user access - up to 25 users in total.
QuickBooks Online can be connected to Wise Business to automatically sync bills, and save time on reconciliation.
Pricing starts at $25/month for the Simple Start package and $50/month for the Essentials package. The more advanced Plus and Advanced subscriptions are $80/month and $180/month.
|💡 Top tips from QuickBooks ProAdvisor, Esther Friedberg Karp
QuickBooks Self Employed is a simpler online QuickBooks product. It is specifically designed for the self-employed worker, consultant or freelancer.
It lacks many of the advanced accounting features that larger businesses may need. There is no inventory management, advanced reporting, or chart of accounts.
It does include simple invoice features and useful tools for expense, receipt, and mileage tracking.
There are two upgraded plans offering tax filing features. This includes US tax filings and support from a CPA.
The standard QuickBooks Self Employed subscription is $15/month. The Tax Bundle is $25/month or $35/month with CPA live support.
QuickBooks Desktop versions are aimed at larger companies that prefer locally installed software. They can also be useful for smaller companies that need specific advanced features.
The three different versions offer increased features and numbers of users.
QuickBooks Pro Plus offers invoicing, inventory tracking, reporting, billing, and expense tracking.
Premier Plus adds advanced features. These include full inventory management, job costing, project profitably, and various industry specific tools.
The top level Enterprise version offers more advanced inventory, reporting and pricing capabilities. It allows up to 40 users (but at increased cost). It also has a separate Desktop Enterprise Accountant version for easier accountant integration.
The simplest QuickBooks Pro Plus version costs $349.99/month. The more advanced QuickBooks Premium Plus version is $549.99/month. And the high end QuickBooks Enterprise costs from $1340.00. This increases to $4200 for the top level option with 40 users.⁵
QuickBooks Mac Plus is a desktop version of QuickBooks for Mac systems. There is only one version.
It offers a good level of accounting features. These are similar to the QuickBooks Pro Plus Desktop offering. There are no options to add advanced features or upgrades.
QuickBooks Mac Plus costs $749/month, with just one version option.
The different versions of QuickBooks may at first seem confusing. If you think about your type of business and what features you need, the best option is usually clear.
For a single self-employed worker or contractor, QuickBooks Self-Employed can be the best option. It is low cost and easy to use. Users can handle basic invoicing and accounts, and have access to mobile apps.
With more advanced features, and multiple users, QuickBooks Online is very popular. This will suit the accounting needs of most small and medium sized businesses. It is also very flexible to change levels as the business grows. QuickBooks Online features useful mobile tools. It also offers integration with a wide range of third-party solutions - including Wise Business.
The QuickBooks Desktop versions suit companies that prefer software installations to cloud solutions. Those using Mac solutions only are limited to the one choice of QuickBooks Mac Plus.
Companies with standard accounting needs can often choose either Online or Desktop solutions. Some advanced features are only available on higher-priced Desktop solutions. Useful industry specific options are also available with these packages. These can make sense if the features are useful or time-saving.
When asking ‘which QuickBooks is right for me?’ one factor to consider is wether you have international bills to manage.
With the Wise Business account, you can effortlessly pay international bills, vendors, and employees at the real mid-market exchange rate, in over 80 countries. Wise Business is even up to 19x cheaper than PayPal.
When you connect QB and Wise, you can see your unpaid bills in real time and pay them seamlessly from your ‘Bills’ page on Wise. Your bill payments and any other Wise transactions will be synced, matched and categorised in QuickBooks for simple reconciliation.
You can save time and money in one blow.
- QuickBooks Self-Employed Pricing & Free Trial
- QuickBooks® Online Pricing & Free Trial | Official Site
- QuickBooks Desktop, Compare QuickBooks Pro, Premier and Enterprise
- QuickBooks Desktop Mac Plus Accounting Software
- Buy QuickBooks Enterprise, Purchase Enterprise Online
All sources checked June 22, 2022.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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