Question

Which Version of QB is right for me?

Forum|Forum|3 years ago
March 17, 2023
2 replies
153 views

I am a solo consultant who does NOT bill by the hour. I have used QB desktop for Mac for 20 years for my basic accounting but the price is getting high and I'm trying to figure out which Online version makes sense for me. I have not tied my bank to QB and don't intend to. Also don't carry inventory and no payroll function needed. The main functions I use are:

1. Creating invoices (using a custom template... needs to look professional). I print to PDF and email clients... No more than 6-8 invoices per month, usually more like 4-5.
2. Tracking outstanding invoices and recording payments against those invoices.
3. Tracking expenses, including assigning some to clients/projects for profitability (although this is not really essential).
4. Sales Tax tracking
5. Reporting
-P&L
-Year over year comparisons
- Open invoices
- Revenue by Client
6. An added bonus would be to assign cost of goods expenses to a client/project. I do this with QBDT Mac now, but rarely need to go back to use the data for analysis.

The Intuit sales team recommended Essentials but I'm wondering if one of the cheaper versions would suffice. Would Self-Employed suffice?

Any thoughts out there?

QuickBooks Online

JaeAnnC

Level 6

You've come to the right place for advice, RC.

Let me help you choose the best QuickBooks Online (QBO) version that fits best your business needs.

QBO offers five versions: Self-Employed, Simple Start, Essentials, Plus, and Advanced. Aside from the pricing, they also vary in features, user counts, and purposes.

First off, QuickBooks Self-Employed is optimal for small service business owners, which records income and expenses, tracks mileage, and prepares Schedule C. It's great for those with no employees and only issues a few invoices per week.

Second, if you want the easiest and quickest way for single users to manage income and expenses in one tool, QBO Simple Start is the best option. It's a good place to start if you're a consultant or contractor that has to keep track of expenses as they occur, send invoices and receive payment, monitor mileage, and run basic reports.

Third, QBO Essentials offers advanced invoicing options. It's best for small businesses required to track payments due, assign hours worked to customers, and provides access to up to three users.

Next, you can assign locations and classes to your transactions in QBO Plus. It's ideal for small businesses that require job costing, budgeting, and inventory tracking.

Lastly, QBO Advanced is the best option for expanding organizations with complex processes. It automates repetitive tasks and allocates work to more users who can only view what they need to.

For the pricing and detailed comparison between each QBO version, please see this website: QuickBooks products.

Furthermore, you can personalize QBO to work how you want it to. This way, you can turn features on and off.

Feel free to leave a reply if you have additional questions about choosing the best QBO version for you. We'd be more than glad to assist you further. Take care, and wishing you continued success.

L

lynnhagerman

Am a small business with the need of payroll for 1-5 employees. I need to be able to make packing slips/invoices/track payments/print checks.

What do you recommend? Online or buy the software?

[PII Removed]

J

Jelayca V

QuickBooks Team

Thanks for reaching out and sharing what you need for your business, Lynn. It sounds like you have a clear idea of what features are most important to you, which is a great starting point. Let’s discuss the options and determine what might work best for your business setup.

Both QuickBooks Online (QBO) and QuickBooks Desktop (QBDT) allow you to manage employees, create invoices and packing slips, track payments, and print checks. However, the best one for you will depend on whether you prefer a cloud-based solution or software installed locally on your computer.

If you want the flexibility to access your QuickBooks account from multiple devices or work from anywhere, QBO is a great choice. You can choose between the Simple Start, Essentials, Plus, or the Advanced versions to meet your needs.

Payroll is available as an add-on, and if you’d like to accept payments directly from customers, QuickBooks Payments can be added too. It's also ideal for collaboration, whether it’s an accountant or another team member accessing your books remotely. For more details, please check their Plans & Pricing.

On the other hand, if you’re more comfortable working on a single primary device and prefer having full control over your data stored locally, QBDT is the better fit. This plan is robust and includes features such as built-in payroll, detailed job costing, and industry-specific tools tailored for various business sizes. It's an all-in-one solution designed for complex businesses. You can find more information here: QBDT Overview.

On another note, I recommend speaking with our Sales team. They’ll be able to help you weigh your options and make the right decision based on your business needs and goals. Please visit the pages linked above and use the Talk to Sales option to get personalized assistance.

I hope this overview gives you a clear comparison between QBO and QBDT so you can decide which version fits your business requirements. If you need further clarification or want to dive deeper into any particular feature, don’t hesitate to reach out. I'm here to help and provide any additional support you need. Take care.

Fiat Lux - ASIA

Level 14

@rcgregory

If you are working solo on a desktop (PC or Mac) to manage your book and only need basic features, you should explore a free program. You can use the program for as long as you like, use all the features and enter as much data as required. There are no time limits, no usage limits, no ads (at this time). This program is quite popular in Asia and Europe.

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