Discover BusinessLoans.com’s lender network offering up to $3M in funding, no minimum credit score required. While the numerous options seem intimidating at first, each version of QuickBooks is designed to reach a certain business size and type. If you want a happy medium, QuickBooks Mac Plus might be a good balance since its UI is easier to use without sacrificing advanced and customizable features. The first major deciding factor is whether or not you want cloud-based or locally-installed software. QuickBooks Mac three main methods of calculating depreciation Plus is best for small to medium-sized businesses looking for locally-installed software compatible with Macs. QuickBooks no longer offers pricing details or allows purchases of Premier online.
Get hired with professional estimates
Apart from being expensive, the other thing with QuickBooks Enterprise is that it really isn’t an enterprise solution — it’s best for large businesses. The software includes certain features Pro lacks, including business plans, inventory assemblies, and sales forecasting. However, if you don’t need extra features, the industry editions, or the extra users, QuickBooks Premier could be needlessly expensive. With strong accounting capabilities, impressive features, 750+ integrations, and fully-featured mobile apps, it’s no wonder QuickBooks Online is one of our top accounting recommendations. Though there are occasional navigation difficulties, QBO is incredibly easy to use overall. There are six QuickBooks versions that allow business owners to manage their accounting and finances.
Speed up expense management
If you can’t decide between two programs, here’s how they stack up head-to-head to help you determine which version of QuickBooks is the best accounting solution for your business. This table takes a deep look into each program’s features, so you’ll know exactly what each version of QuickBooks is capable of. Comparing QuickBooks features is one of the best ways to decide which version of the software is the best fit for your business. The main downside of QuickBooks Mac Plus is that the software doesn’t have a single integration. Additionally, QuickBooks Mac Plus never seems to get the same amount of attention as other QuickBooks products in terms of new features and updates.
Create professional custom invoices, send payment reminders, and match payments to invoices, automatically. QuickBooks tracks your finances throughout the year and automatically prepares a statement. This means that you only have to print the report during the tax return.
Cloud accounting
If you use QuickBooks during the year, all you need to do at tax time is print your financial statements. Available in QuickBooks Online Plus and Advanced plans, the inventory management feature helps you track the quantity and cost of your inventory. As you sell inventory, QuickBooks will allocate a portion of your inventory to the cost of goods sold (COGS) automatically, which is an expense account that reduces your income. By managing all of your cash inflow and outflow activities in QuickBooks, you can print financial statements that provide useful information about how your business is performing. Lenders often require financial statements when you apply for a small business loan or line of credit. QuickBooks Online moves a big step closer toward using your accounting data to prepare your taxes.
Sign up for Lab Report to get the latest reviews and top product advice delivered right to your inbox. QuickBooks Online’s user interface looks attractive and professional, though I wish it didn’t sprawl so much on some pages. The site gets around this by occasionally using panels that slide out from the right for data entry.
You have to purchase a QuickBooks Payroll subscription to run payroll, but you have several levels of service to choose from to fit your needs. Employees or subcontractors can enter their own time as they progress through the day, or a bookkeeper can enter their weekly time if the employee submits a manual timesheet. Time entered and assigned to a customer will be available to add to the customer’s next invoice.
- You can create a new invoice from scratch or by converting an existing estimate into an invoice.
- QuickBooks Desktop Enterprise has the same great accounting capabilities as Pro and Premier but allows access for up to 40 users and much more storage space.
- Existing QuickBooks Desktop Pro, Premier, Mac, or Enhanced Payroll users will not be impacted.
- The time of taxes is one of the worst phases for an accountant because of the time-consuming tasks.
- Computing taxes and using the correct forms are part of the plan.
So you can use it if you’re a freelancer, small company owner, large enterprise, and much more. The inventory management and job costing features are more robust in QuickBooks compared to QuickBooks Online. A Live Bookkeeper cannot begin cleaning up your past books until they receive the required supporting documentation, which your bookkeeper will request from you after your first meeting. Once your bookkeeper receives all the necessary documentation, they’ll typically complete your cleanup within 30 days. In some cases, your cleanup may take longer depending on timeliness of documentation and the complexity of your books.
