Quickbooks Review 2022 – Top 10 Accounting Software

Quickbooks is a popular and reliable accounting software for small businesses. Many micro-businesses use this accounting software to keep track of their financial achievements through the software’s income management and expenses features. Other features of this accounting software include bill payment, customer invoices, report generation, and tax preparations. Entrepreneurs can tailor these features to fit any business scale and type

The Verdict

Quickbooks

Quickbooks is the right accounting software to manage your business despite the size and type. The different subscription plans for both self-employed and business are all packed with amazing accounting features to help you manage your finances. The software is customizable to meet various business accounting demands and offers upgradable options.

The accounting software provides both chat and phone support features to its online customers. The website also contains videos, articles, and guides to help you troubleshoot problems on your own. The Self Employed app has QB Assistant, a chatbot feature that connects you to live support by providing automatic answers to various questions.

The software offers free 30-day trials and a three-month subscription discount for the first three months. This accounting software offers an affordable plan subscription that starts from $15 per month to ensure that many businesses can afford and benefit from it. This review has established why this software is highly reputable in the market. Try it out!

Pros:

• Easy Set-Up And Use
• This accounting software is easy to set up and use. The program quickly customizes to fit your business based on the responses you give to the few setup questions it prompts about your business. Once you create an account and log in, the software will automatically prompt you with easy-to-follow steps to get things running.
• Intuitive Interface And Dashboard
• The software has an eye-catching and intuitive interface and a dashboard. The dashboard displays different graphs depicting the trends in sales, expenses, income profit, and loss. Each graph can have its date range customized.
• Customization
• Invoices and forms can also be easily customized. The user is free to choose from various templates with different font sizes and accent colors. Watching the free demo and using the free 30-day trial will help you learn how to use the platform effectively before your purchase.
• Accountants-Approved
• The software is also accountant approved. It contains all the features essential

Cons:

• Before you choose this software as your preferable accounting software, it is good to take note of its potential setbacks: However, despite these few limitations, this online accounting software remains a valuable online accounting software that can grow with your business and meet your business needs
• Not Upgradable
• It is impossible to upgrade from the Self Employed plan to the business plan. Therefore, if you have plans to hire employees in the future, which will require payrolls, you need to consider starting with the business plan instead because of its upgrade capabilities.
• Multiple Subscriptions
• The plan requires multiple subscriptions for those running multiple businesses.
• User Limit
• The plan has a limited number of users that can access the system at a given time.

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About Software

Quickbooks online is among the best accounting software that has been serving small businesses for more than 20 years now. This accounting software can handle tedious accounting tasks for your business, save time and reduce accounting errors. The software can be adjustable to grow with any business making it best suited for different business sizes and types.

The superb market reputation of this accounting software is attributed to its features and accounting capability features it offers, like project and inventory tracking and automation of accounting operations. This accounting software can also be customized and integrated into third-party software and apps for additional features.

It presents numerous and affordable plans to choose from that can be upgraded whenever your business grows. Here is a detailed review of this marvelous accounting software.

Software Features

This accounting software is easy to set up and use, automates tedious tasks, saves you time, and reduces your chances of making accounting errors. The service features available in this reputable accounting software that makes it stand out among its peers include:

1. Automation

This online accounting software helps you run your accounting tasks easily and quickly because its features allow tedious accounting tasks to be automated. This software benefits small businesses by allowing them to focus on running their business rather than waste time manually tracking finances. This accounting software automatically backs data to the cloud and automates bill payment reminders for clients and recurring invoices. It also syncs credit card transactions and data from the bank as well as categorizes and reconciles expenses.

2. Built-In Reports

Benefits of using this accounting software include the automated report-generating capacity of the software. This software offers several built-in reports to choose from, including general ledger, 1099 transaction report, aged receivable, profit & loss, and trial balance. Based on the frequently used reports for your business, the software allows you to mark them as favorites to retain them at the top of the Reports page for easy access.

This accounting software allows the running and sending of reports automatically per the user’s set criteria and schedule.

3. Automatic Backup

This accounting software automatically backs up all your data to the cloud to allow you easily access your work from any location and device with an internet connection. The auto-backup feature ensures the security and frequent update of your books.

4. Electronic Invoicing

Electronic invoicing allows you to create and send customer invoices via the system. Apps are available to allow you to invoice customers from Gmail directly. The system allows for invoice tracking, online payment acceptance, and acceptance of electronic signatures.

The software’s invoicing features include:

• A project tracking feature for the Plus plan user allows customers to bill in increments when certain job stages are attained. Eventually, the software will calculate the number of bill payments against the overall project estimate.
• A mobile device optimized email invoice to allow customers to receive and open them using their phones.
• A mobile app that allows directly invoicing to clients from your Gmail account. The invoice information is saved in both the software and Gmail.

5. Third-Party Integration

The online accounting software allows you to integrate different programs and apps to help you automatically export, import, and sync data between the systems in real-time. Other business programs like e-commerce, POS system, CRM, payroll system, and project management can also be connected to the software through third-party integration and apps. Some apps that integrate with this online accounting software include Shopify, square, Amazon Business, PayPal, fathom, SOS Inventory, and Quickbook’s time, among many others.

6. Mobile App

The mobile apps are available for both Apple and Android devices. These apps are integrated with your online software account to allow you to perform your accounting duties/ tasks in any location. The mobile apps are capable of:

– Creating and sending invoices

– Accepting payments

– Capturing receipts and attaching them to expenses

– Displaying dashboard data like reports and account balance.

– Reconciling your transactions

– Viewing customers’ information

– Messaging your customers using the app.

7. Inventory.

The inventory feature in this accounting software is for those using the Essential and Advanced Plan only, enabling them to create purchase orders and manage inventory and vendors. Clients using these plans can track their inventory and see the number of items they still have in stock when creating invoices, estimates, and purchase orders.

This software gives alerts for inventory reordering and automatically converts the purchase order into a bill once the inventory arrives. The inventory feature allows you to track the best-selling and worst-selling products by generating frequent get-on-demand reports.

This accounting software offers and supports an array of other features that include:

– Accounting feature

– Advanced accounting feature

– Virtual bookkeepers feature

– Payroll feature

– Payment feature

– Time tracking feature

– E-commerce feature

– Business feature

Plans And Pricing

The online accounting software is priced competitively. This accounting software has features that can be integrated to meet the needs of different business types, either small businesses or self-employed workers. To access payroll features in the small businesses plan, you will be required to pay an additional monthly fee.

This accounting software offers a free trial for 30 days with a 50% discount on the subscription fee for the first three months. To help you understand how the software runs, the company offers a free demo to guide you. This online accounting software also charges its clients $50 for an online setup session guided by bookkeeping specialists.

Self-Employed Subscriptions

The self-employed plan: This plan is designed for independent contractors and freelancers and requires a monthly subscription of $15 per. This plan allows you to separate your business and personal expenses, track simple invoices, track mileage automatically, and calculate quarterly estimated taxes.

The self employed tax bundle plan: This plan calls for a monthly subscription of $25 and includes all the Self Employed plan features. In addition to that, it also allows you to transfer financial information to Turbo Tax pay quarterly estimated taxes online.

The self employment live tax bundle: With a $35 monthly subscription, this plan allows you access to certified public accountants and all the features included in the self-employed and self-employed tax bundles.

Small Business Subscriptions

Simple start plan: The simple start plan is tailored for a single user and quires a monthly subscription of $25. This plan allows you to generate basic reports, create& send invoice estimates, track your income & expenses and manage sales tax.

Essential plan: The Essential plan demands a $50 monthly subscription and supports a maximum of three users. The features of this plan include bill payment tools, time tracking, and all the other features in the simple start plan.

Plus plan: The plus plan offers a maxim of five users and calls for a monthly subscription of $80. Being the most popular Quickbook online plan, it has features that allow the management of products and inventory in addition to all the features included in the essential plan.

Advance plan: The advance plan requires a $180 monthly subscription and supports 25 users maximum. This plan offers you: all the features in the plus plan, 20 classes, one smart reporting license powered by Fathom, on-demand online training, an account team, and the ability to restore data and automate workflow.

Live Full-Service Bookkeeping

This accounting software offers its online customers access to Live Bookkeeping service. The first month requires a payment of $500 for an account clean-up and setup. Afterward, clients will be charged based on their company’s average monthly expenses for three consecutive months, as indicated below.

• Company’s monthly average cost to a maximum of $25,000 – a cost of $200 per month.
• Company’s monthly average of between $25,001 and $150, 000 – a cost of $400 per month.
• Company’s monthly average of beyond $150,000 – a cost of $6000 per month.

Frequently Asked Questions

Do I Download Software or use the online software?

This small business accounting software is connected to the cloud. This allows you the flexibility to access your online Quickbooks account via the internet. Therefore, you do not have to download the Quickbook online. However, Quickbook online mobile apps are available for download in the Apple App Store or Google Play store.

Can I Upgrade Between Plans?

The different available versions of this accounting software allow the user to upgrade to another plan,

How Do I Know If this accounting software Is Right For Me?

Switching to the use of this accounting software will positively impact your business. Create an online account and reap the amazing benefits of using Quickbooks online, including automatic data backup, specific business-tailored reports, and automated error-free workflow. This accounting software gives you the luxury to access data anywhere by backing up your data in the cloud.

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How Easy Is It To Migrate From one accounting software to another?

Migrating to Quickbooks online use is very easy. You can choose to do it solo or reach out to our specialists should you encounter difficulties. However, to help make the process easy for you, we have created easy-to-follow guides, free chat and phone support, and webinars led by experts.

Do I Have To Pay Extra For Intuit Mobile Apps?

No. Upon acquiring the software, you will get free mobile apps that can be integrated into the software for smooth business operations.

I’m Switching From Another Payroll Provider. Can You Transfer My Payroll Data?

You can transfer your data using the software Payroll Premium. However, we have to review it to ensure you did it correctly. We also do payroll data transfer for clients with the Payroll Elite.

What’s Included In Quickbooks Live Full-Service Bookkeeping?

The two complete services included in Quickbooks Live Full-Service bookkeeping are:

Clean-up- In this phase, your bookkeeper helps you clean up existing information in your online books. This is also known as the setup phase and happens in the first month of service. You receive help setting up account chats, bank linking, and understanding the basics of the software.

Ongoing bookkeeping- Your bookkeeper helps you categorize transactions and balances your accounts every month.

What’s Not Included In the accounting software’s Live Full-Service Bookkeeping?

The following features are not included in Live Full-Service Bookkeeping: Financial advisory services, inventory management, paying bills, sending invoices, tax advice, creating or sending 1099s, management of payroll, management of account receivable/ payable, and facilitation and filling of income/ sell tax returns.

However, with an additional cost, you can access the software’s full-time service payroll.

What Are The Benefits Of Working In The Cloud?

Data stored in the cloud allows you to access it at any remote location using any device with an internet connection. Your data will always be up to date despite the numerous workers working on the data.

How Do I Make Sure My Data Is Secure?

The software automatically backs up data frequently and protects the online data transfer with 128-bit SSL encryption.

Can my accountant access my account?

Yes, your accountants can use their login to access the work in the account whenever needed because the data is stored in the clouds.

What’s The Difference Between Each Payroll Plan?

The online payroll plan works for small and medium-sized businesses like non-profits, accountants, financial experts, restaurants, and construction companies.

Is The Software Right For You?

Quickbooks offers businesses rest from tedious accounting tasks that often destruct them from effectively running their business. This accounting software simplifies all your finance tasks by hitting a few buttons to give you a perfect bookkeeping score with the local, state, and federal regulatory bodies.

Packed with features that help you generate automatic reports, manage your invoices, and reconcile your bank and billing accounts. You need not worry about customer payments. This accounting software automatically sends them invoices and receives payments.

This accounting software can allow your financial team of accountants and bookkeepers to perform their work under your supervision effectively. The benefit of Quickbook online is that everyone in your financial team can access the online data at any time and day. However, the software also allows you to limit what your team can and cannot see.