Searching for an accounting system that operates best for the company is essential for your progress, and with several alternatives to select from, it may seem challenging to search for the appropriate software. Being a leader in accounting system structures for many years, QuickBooks is an excellent alternative for SMEs and nonprofits’ accounting requirements.
As QuickBooks was entirely re-written with a new API structure in 2006, it is now a leader in accounting-based solutions for small enterprise owners with less experience. QuickBooks provides wide options for companies and has two separate platforms to decide upon QuickBooks Desktop and Hosted QuickBooks Cloud.
To make the most suitable choice when deciding which is appropriate for your business, the following are the essential features and their prices.
QuickBooks Online Prices: A Review of Pricing and Features
QBO or QuickBooks Online has a lot of differences in working from QuickBooks Desktop. You can buy a monthly/yearly license and you get upgrades by default as they are released.
Reasons why SMEs choose QuickBooks Online:
- Access from any place from any device including smartphones.
- Budget-friendly.
- Links well with a wide variety of supplementary apps that generate an accounting ecosystem for small companies.
- Several small companies, without a requirement for complicated reports, will choose to use the online version. Startups also choose to use this version for cost-saving and accessibility.
There are 3 alternatives to select from QuickBooks Online:
- Simple Start is for around $15 per month. It meets the basic requirements of a business by tracking payments, incomes, invoicing, and links with the bank. If you want extra features from what Simple Start has to offers, the next alternative is Essentials.
- Essentials is for around $30 per month and has extra features like profit loss reporting and bill payments.
- Plus includes some excellent advanced features. It is for around $40 per month and gives all the features of Simple Start and Essentials as well as 1099 preparation and inventory management.
The price for QuickBooks Online varies from time to time so there is no exact monthly fee. There are extra payments based on the number of users and if you need to link applications while buying. You can Host QuickBooks in the cloud with competitive Azure Virtual Desktop Pricing.
QuickBooks Desktop provides much more detailed reporting like inventory, manufacturing, and job costing. It also allows more users per file.
A few important features include:
- Multi-User Access.
- Job Costing if you use the Payroll feature.
- Profit and Loss by Customer, Class, Service Item, or Job
- estimation
- 1099s
- Unlike QuickBooks Online, you buy the software, install it on your desktop or servers, and get the choice of upgrading every year. QuickBooks Desktop has upfront charges as the software has to be directly bought. There are 3 alternatives to select from: Pro Premier, and9 Enterprise.
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Masab Farooque is a Tech Geek, Writer, and Founder at The Panther Tech. He is also a lead game developer at 10StaticStudios.
When he is not writing, he is mostly playing video games