QuickBooks

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Tekpon Score
9.0

QuickBooks Pricing

QuickBooks pricing plans are very inclusive and have been established to offer every individual a solopreneur or a corporation. Furthermore, the accounting software has two separate pricing segments:

  • QuickBooks online pricing
  • QuickBooks desktop pricing

However, cloud-based accounting solutions are the future of accounting, and desktop versions seem rarer and rarer as they are directed toward the more rigid companies. For example, QuickBooks licked since 2018 that they are planning a soft transition towards only QuickBooks online and dropping QuickBooks desktop in the future.

Let’s move on to QuickBooks pricing plans and check out the QuickBooks Online vs. desktop pricing strategy to decide which suits your organization best.

How much is QuickBooks?

We will split this complex question to give you the best outlook on QuickBooks’ cost and value for money. Thus, to answer this question, we will individually treat the QuickBooks online pricing and QuickBooks desktop pricing.

QuickBooks Pricing

Self-Employed

QuickBooks Online

$15
Monthly
  • Track Income & Expenses
  • Capture & Organise Receipts
  • Estimated Quarterly Taxes
  • Invoice & Accept payments
  • Track Miles
  • Run Basic Reports

Simple Start

QuickBooks Online

$25
Monthly
  • Track Income & Expenses
  • Capture & Organise Receipts
  • Maximize Tax Deductions
  • Invoice & Accept Payments
  • Track Miles
  • Manage Cashflow
  • Run General Reports
  • Send Estimates
  • Track Sales & Sales Taxes
  • Manage 1099 Contractors

Plus

QuickBooks Online

$70
Monthly
  • Track Income & Expenses
  • Capture & Organise Receipts
  • Maximize Tax Deductions
  • Invoice & Accept Payments
  • Track Miles
  • Manage Cashflow
  • Run General Reports
  • Send Estimates
  • Track Sales & Sales Taxes
  • Manage 1099 Contractors
  • Manage & Pay Bills
  • Time Tracking
  • 5 users
  • Track Project Profitability
  • Track Inventory

Advanced

QuickBooks Online

$150
Monthly
  • Track Income & Expenses
  • Capture & Organise Receipts
  • Maximize Tax Deductions
  • Invoice & Accept Payments
  • Track Miles
  • Manage Cashflow
  • Run General Reports
  • Send Estimates
  • Track Sales & Sales Taxes
  • Manage 1099 Contractors
  • Manage & Pay Bills
  • Time Tracking
  • Track Project Profitability
  • Track Inventory
  • 25 users
  • Business Analytics & Insights
  • Batch Invoice & expenses
  • Customize Access by Roles
  • Exclusive Premium Apps
  • Dedicated Account Team
  • On-Demand Online Training
  • Restore Company Data
  • Automate Work Flow

Core

QuickBooks Payroll

+ $4/employee/month

$45
Monthly
  • Full-service payroll
  • Auto payroll
  • Health benefits
  • 401(k) plans
  • Workers Comp
  • Expert product support
  • Next-day direct deposits

Premium

QuickBooks Payroll

+$8/employee/month

$75
Monthly
  • Full-service payroll
  • Auto payroll
  • Health benefits
  • 401(k) plans
  • Workers Comp
  • Expert product support
  • Next-day direct deposits
  • Same-day direct deposits
  • HR Support Center
  • Expert review
  • Track Time on the go

Elite

QuickBooks Payroll

+$10/employee/month

$125
Monthly
  • Expert Setup
  • Track time & projects on the go
  • Tax penalty protection
  • 24/7 expert product support
  • Personal HR advisor
  • Full-service payroll
  • Auto payroll
  • Health benefits
  • 401(k) plans
  • Workers Comp
  • Expert product support
  • Next-day direct deposits
  • Same-day direct deposits
  • HR Support Center
  • Expert review
  • Track Time on the go

Pro Plus 2021

QuickBooks Desktop

33% off the first year
$299.99
Yearly
  • New 2021 features
  • Track income & expenses
  • Invoicing
  • Run reports: 100+
  • Send estimates
  • Track sales tax
  • Manage bills & accounts payable
  • Track time
  • Track inventory
  • List limits
  • Pay 1099 contractors
  • Unlimited customer support
  • Data backups and upgrades
  • Concurrent users (each sold separately): Up to 40 users
  • Payroll
  • Remote access via hosting
  • Forecasting

Premier Plus 2021

QuickBooks Desktop

40% off the first year

$499.99
Yearly
  • New 2021 features
  • Track income & expenses
  • Invoicing
  • Run reports: 100+
  • Send estimates
  • Track sales tax
  • Manage bills & accounts payable
  • Track time
  • Track inventory
  • List limits
  • Pay 1099 contractors
  • Unlimited customer support
  • Data backups and upgrades
  • Concurrent users (each sold separately): Up to 5 users
  • Payroll
  • Remote access via hosting
  • Forecasting
  • Industry-specific features

Enterprise 21.0

QuickBooks Desktop

Most customizable

$1275
Yearly
  • New 2021 features
  • Track income & expenses
  • Invoicing
  • Run reports: 100+
  • Send estimates
  • Track sales tax
  • Manage bills & accounts payable
  • Track time
  • Track inventory
  • List limits
  • Pay 1099 contractors
  • Unlimited customer support
  • Data backups and upgrades
  • Concurrent users (each sold separately): Up to 40 users
  • Payroll
  • Remote access via hosting
  • Forecasting
  • Industry-specific features
  • Mobile inventory barcode scanning
  • End-to-end sales order fulfillment
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QuickBooks Coupons

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QuickBooks online pricing

QuickBooks Online or the so-called future of QuickBooks. The software comes with several price levels, meaning that there are two different products available and several price levels in QuickBooks for its cloud-based version. Let’s take a look at the 4 QuickBooks price levels available.

How to pick the right QuickBooks online pricing package?

Now, as you can see, the online version brings lots to the table for the flexible entrepreneur other than the general features you would typically expect for accounting software such as QuickBooks.

Furthermore, QuickBooks’ online pricing caters to essentially all spectrums of users. It offers a cheaper software version for the solopreneur or freelancer and an advanced premium product for sophisticated and complex corporate entities. Each of the price levels in QuickBooks comes with a different level of complexity and added features.

Invoicing feature included in the Online pricing plan- reviews by Tekpon

For example, the Self-employed or the freelancer module comes with six essential features –Track Income & Expenses, Capture & Organise Receipts, Estimate Quarterly Taxes, Invoice & Accept payments, Track Miles, Run Basic Reportsin contrast, the Advanced module comes with full access to all the features.

However, we believe the price modules are well balanced for the QuickBooks cost and underline the features you will enjoy. The only advice we can give concerning this is that you pay close attention to what your needs are and what you need.

Now, if the online version of the software is something that you are looking for, take a close to at your organization and see if the price level in QuickBooks is suitable for you in the long run and if the growth of your company won’t make the software expensive for your organization.

Depending on your industry, it might be good to consider the QuickBooks desktop version. This is, however, a big maybe as if you, for example, run a company that prefers remote work, travels a lot, or is online-based. So the desktop version of it might not be a good option for you after all.

How to choose the right QuickBooks Online pricing package?

To help you pick the correct version of QuickBooks Online for your business, let’s look at a few aspects that will help you make the right decision.

First of all, here are some essential questions you need to answer:

  • How many users do I need?
  • How mobile am I?
  • How much are we remote working?
  • Which features of QuickBooks Online do I need to run my business?
  • How much can I afford to spend each month?

The answer to this question will help you understand your business needs and pick a price level in QuickBooks which suits you.

Second, now that we have gone through the essential question you need to ask yourself before purchasing this product, let’s get into each of the pros and cons. As you’ve seen above, each of the online price packages comes with a set of features. So let’s see what, in our opinion, each of the QuickBooks Online price levels aces and misses.

QuickBooks Online Pricing Package Pros and Cons

While above, we tread each of the QuickBook online pricing packages features below. We will discuss what you get and what you might miss in these packages. However, remember that it is based on our experiences and that everybody’s needs might vary, so we encourage you to be critical and give us your opinion in the QuickBooks review section.

QuickBooks Online Self-Employed Pros and Cons

PROs

  • Low price
  • Report Business Income Tax (Schedule C)
  • Quarterly Income Tax estimates
  • Easy to use

CONs

  • It doesn’t track sales and sales tax
  • It doesn’t track Inventory
  • No integrated payroll
  • Basic Reports only

While the QuickBooks Online pricing package Self-employed is easy to use for freelancers and comes at the very affordable price of $15/month and a 50% discount for the first three months, it is limited in functionality. While some of the missing features, such as the payroll function, are somewhat easy to understand as it is, after all, dedicated to a one-person show kind of business.

Therefore, we recommend checking out some of the other plans for businesses with better control over their assets and track of liabilities and plan to expand their team.

 QuickBooks Online Simple Start Pricing Package Pros and Cons

If you are a hands-on individual who likes to take care of your bookkeeping, this might be the module for you. Above all, the QuickBooks Online simple start is the easiest and least complex of the software’s small business packages. Furthermore, this is the cheapest way to track assets and liabilities in QuickBooks Online.

PROs

  • Track sales and sales tax
  • Double-entry bookkeeping
  • Connect multiple bank accounts
  • Send Estimates
  • Invoicing

CONs

  • Single User
  • Can’t track unpaid bills
  • No inventory accounting
  • No time tracking/ billable hours by customer

In conclusion, the Simple Start QuickBooks package is unsuitable for businesses holding inventories as it doesn’t have this feature available. Moreover, we would not recommend companies that manually bill their clients by the hour as it does not track time.

QuickBooks Online Plus Pricing Package Pros and Cons

Moving on to the QuickBooks Online pricing Plus package. This is the first and most accessible one that offers inventory tracking. The boxes also come with other interesting additional features to the ones previously reviewed, making it a suitable “candidate” for a company with inventories and several employees.

PROs

  • Inventory tracker
  • P&L by projects
  • Five users
  • Tracks billable hours by customers
  • Manage and pay bills
  • Unlimited reports

CONs

  • No average cost of ending inventory, only FIFO
  • No comparison between projects available
  • No KPIs
  • Limited charts of accounts to 250

Suitable for most business needs. However, it lacks KPIs for a company to keep track of its performance and doesn’t compare projects.

QuickBooks Online Advanced Pricing Package Pros and Cons

The most complex QuickBooks online pricing package comes with all the software offers on the online side of things and suits most need. However,  none of the available models seems suitable for a complex hours billing business such as law office, consulting, and architecture. I guess you could make it work if you wish, but you would have to go through the trouble of searching for the features you need through the multitude of features that don’t bring you any value. Therefore, for this practice, we would recommend software such as Bill4Time.

PROs

  • Up to 25 users
  • Customizable access roles
  • Complex business analytics and reports
  • Online training available on demand
  • Unlimited chart of accounts
  • KPIs
  • Automation
  • Premium Apps

CONs

  • No average cost of ending inventory, only FIFO
  • Expensive
  • Not suitable for all businesses

With this being said, there isn’t much to complain about. This module is very thought through and suits most businesses. However, at the price of $150/month, it can be costly for some small companies.

 

QuickBooks Online vs. Desktop Pricing

While features-wise, QuickBooks Online vs. Desktop pricing is not that different, the difference is much more apparent.

There are some differences and disadvantages to the QuickBooks desktop version, such as being dependable on one computer at all times and not having the flexibility the cloud-based version gives you. However, from the value money perspective, we would still say that QuickBooks Desktop wins by far.

Moreover, if you are looking for the payroll option, keep in mind that the QuickBooks desktop is integrated for all the price points, while in the online version, it will double your cost.

QuickBooks pricing Conclusion

In conclusion, while both versions of the software are fantastic, and we loved them putting into balance the value you are getting for your buck, we would advise you to go for the desktop version. But, if you are a cloud enthusiast and would rather not have your computer all the time with you but would still like to keep up with your expenses, send invoices and get your bills paid, you will pick QuickBooks Online.

Furthermore, while we find the QuickBooks Online Payroll service fantastic and love that we can have our vacation in Aruba and pay our employees, we find it quite expensive and limiting. However, even if it is limiting you to using QuickBooks online as your accounting system, on the bright side, it will be straightforward to use the software as it looks and feels exactly like its “mother” product QuickBooks Online.

 

 

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