However, existing Pro and Premier users can still renew their subscriptions. Ease of use includes the layout of the dashboard and whether new transactions can be initiated from the dashboard rather than having to navigate to a particular module. Other factors considered are user reviews specific to what is an audit everything about the 3 types of audits ease of use and a subjective evaluation by our experts of both the UI and general ease of use.

Our partners cannot pay us to how to read financial reports for expenses guarantee favorable reviews of their products or services. Businesses with inventory items should choose accounting software that can track inventory costs, manage COGS, and monitor inventory units. Even after initial setup, the software must also let users modify information like company name, address, entity type, fiscal year-end, and other company information. If you have employees, you can add QuickBooks Payroll to your QuickBooks Online account for as little as $45 per month plus $5 per employee.

QuickBooks Online features

If, after reading this post, you aren’t convinced that any version of QuickBooks is right for you, or if you just want to consider all of your options, there are other solutions that may be a better fit. Check out our picks for the best accounting software for small businesses. QuickBooks Online is easier to use than the desktop versions, but QuickBooks Desktop Pro, Premier, and Enterprise have stronger features and accounting.

QuickBooks Online vs. QuickBooks Desktop: Integration with other software

This requires the software to allow users transitioning from other bookkeeping software to import their chart of accounts (COA), vendors, customers, service items, and inventory items. Ideally, there will be a wizard to walk the user through the import process. In both QuickBooks Online and Desktop, you can assign costs to your inventory items and track the quantities sold to calculate the cost of goods sold (COGS). While QuickBooks products work for many businesses, they aren’t the best choice for all businesses. If neither of these options seems to be the right fit or you’re just exploring your options, make sure to check out our list of the best bookkeeping to run your business accounting software for small businesses for more great options. For small business owners new to the accounting scene, this service may bring much-needed peace of mind when managing your books and filing small business taxes.

However, if you don’t need extra features, the industry editions, or the extra users, QuickBooks Premier could be needlessly expensive. QuickBooks Online offers an incredible number of features and automations. The software covers all the accounting bases as well as invoicing, expense tracking, accounts payable, contact management, project management, inventory, budgeting, and more. QuickBooks Self-Employed is a QuickBooks Online product for contractors and freelancers, specifically for those who do not have separate business and personal financial accounts. It starts at $30 a month and includes basic features only, such as mileage tracking and invoicing.

Additionally, QuickBooks Mac Plus never seems to get the same amount of attention as other QuickBooks products in terms of new features and updates. QuickBooks Desktop Premier is the step up from QuickBooks Pro and is best for medium-sized businesses. QuickBooks Premier is robust, locally-installed software with plenty of features and 200+ integrations. If you can’t decide if QuickBooks Online, QuickBooks Desktop, or another QuickBooks version is right for your business, this guide is for you.

QuickBooks Online vs. QuickBooks Desktop 2023

QuickBooks Online Advanced now offers a fixed asset accounting feature that allows you to enter and track fixed assets, such as vehicles, buildings, and equipment. Based on the depreciation method you choose, Advanced automatically calculates the depreciation for the fixed asset and creates a depreciation schedule. QuickBooks Simple Start is a good fit for businesses that are seeking a double-entry accounting system and for those with employees because of its integration with QuickBooks Payroll. The QuickBooks Online comparison chart below highlights some of the key features of the five versions.

1. In terms of features, QuickBooks Enterprise is about as close as you can get to an ERP without making the switch to full-on business management software.
2. QuickBooks Online offers a large selection of reports, but they aren’t industry-specific.
3. Also, it doesn’t handle more complex liabilities like deferred revenue or long-term debt with specific payment schedules.
4. QuickBooks Simple Start has a decent ability to record and track payments to independent contractors, making it easier to stay compliant with tax regulations.
5. To purchase QuickBooks Desktop Pro, you will need to contact QuickBooks Sales by phone.

Both are locally-installed accounting solutions, both offer numerous features and robust reporting, and both have numerous integrations. However, freelancers that need good tax support and don’t require the more advanced features found in QBO may find everything they need with QuickBooks Self-Solopreneur. 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.