QuickBooks Online is a software for accounting reasons, mainly used by small and medium-sized businesses. You can manage bill payments and payroll functions. However, if you are here, you want to know how much it costs to use the software.
Here we will go through the different options you have, and you can decide which suits you best. QuickBooks Online is considered to be one of the top picks when it comes to small business accounting software.
QuickBooks Online offers five different versions or plans you can choose from. The prices vary from $15 a month up to $180 per month. The range is pretty broad, so you have the opportunity to find the right deal for you and your business.
Next, we will present all five subscription plans and their cost, that way, you will be informed enough to make the right decision! These are the plans offered by QuickBooks Online:
- Self Employed
- Simple Start
Self Employed Plan
It is the cheapest plan; it costs $15 monthly. However, the company is offering a 50% discount for the first three months, so it is genuinely $7.50 at the beginning. This plan only supports single users since only one person can use it.
This plan is for those who complete a Schedule C IRS form. This form is used to report the individual’s income as a sole proprietor. This plan might seem not worth it since it does not offer every feature, but many users of this software use it nonetheless.
This plan has features that include: tracking all of your income expenses, taking pictures of your receipts and organizing them, estimating your taxes for the quarter, receiving and accepting payments, creating some basic reports, and sending invoices.
Simple Start Plan
This is the second plan on the list. It costs $25 monthly. It also supports only one user, and they also offer a discount for the first three months; however, the discount is only offered if you skip the free trial period. In that case, the plan will cost $12 monthly for the first three.
For many, this is the best option for a small business. This could be the best choice for an LLC run by only one person or a partnership. This plan will help you keep everything in the same place and keep it simple. On the other hand, its features are not that many. So, a larger company might need something bigger and more complex.
This plan includes all the previous plan’s features but adds a couple of helpful ones regarding bookkeeping and budgeting. Here are some of the features you will receive if you purchase this plan:
- Record fixed assets
- Create supplier database
- Create a budget and cash flow projections
- Create an unlimited number of estimates and invoices
- Expenses tracking
The third plan is the Essentials, and here we see a jump in the price. This one costs $40 monthly. However, the significant change from the last two is that this plan supports up to three users. Also, it comes with functions to deal with accounts payable for small businesses.
This plan perfectly suits a starting and growing small business. This plan will help those companies with a more significant number of suppliers, employees, and clients.
With this plan, you will do many things apart from the ones on the previous plans. You will track your bills, track your expenses, and log payments in different currencies. Also, you will have the ability to scan the bills your company has. Another new feature of this plan is that you can time-track billable hours.
This plan costs $70 monthly. This plan will offer the support to be used by five users compared to the previous plan. This one offers some advanced features. You will notice the difference.
However, this plan is not designed for small businesses. It is meant for a mid-sized company. These businesses usually need to deal with complex bills and have a more extensive inventory and many projects going on. This plan is for more complex businesses.
It will allow you to track your project’s profitability and all the data you want to see about the project. With this tool, you will supervise any project to maximize your every source of income. Also, this plan offers the tracking of inventory and will notify you if you need to restock and manage the cost of goods and products.
This is the highest plan QuickBooks Online offers. It costs $150 monthly, and it supports 25 users. It is suited for enterprise businesses, where all the extra users and the features will help to be more efficient.
This plan offers an account manager and priority customer support. Along with those features, this plan includes:
- Batch importing
- Reminders for payments and invoices
- Notify customers automatically
- KPI’s tracking
- Access to premium apps: HubSpot, DocuSign, Bill.com
QuickBooks Online is an excellent tool if you require financial software. This software will help you in any way possible. You need to find the right plan for you. All of these different plans offer many features that your business will need.
To make the right decision, consider all factors; if you get the advanced plan and do not need all those features, you could end up in a far more complex financial plan than you want. And using the cheapest plan might not be enough, so maybe ignore the price and focus on what you need.