Bookkeeping QuickBooks Features: Invoicing, Expenses & Cloud Accounting

QuickBooks Features: Invoicing, Expenses & Cloud Accounting

Large businesses that need access for up to 25 users will probably want to go with QuickBooks Advanced. FreshBooks is great for self-employed individuals, sole proprietors and independent contractors. It is incredibly user-friendly and easy to navigate, so if you are a sole proprietor looking for basic accounting software, FreshBooks will meet your needs at a relatively low cost. Planergy is the best Procure-to-Pay software that directly integrates with QuickBooks Desktop.

  • Time and money are two of the most important resources that any business can utilize to work efficiently and improve performance.
  • In addition, you can monitor what you owe from the Sales Tax Payable register and the Pay Sales Tax window.
  • The software also includes a mileage tracking feature, which is crucial for business-trip expense deductions.
  • Many cloud storage applications offer restoration points even for the basic plan.
  • You’re able to easily connect your bank account and credit cards to import transactions.

With the expense tracking feature, QuickBooks provides you with key financial reports on expenses and income and profit and loss reports that help you keep tabs on your finances at all times. As a QuickBooks ProAdvisor, Mark has extensive knowledge of QuickBooks products, allowing him to create valuable content that educates businesses on maximizing the benefits of the software. QuickBooks Pro could have earned a perfect score if it could track income and expenses by location, which is a standout feature of its cloud-based counterpart, QuickBooks Online.

Why QuickBooks

Through QuickBooks Online, professional tax preparers can access your account directly to prepare your tax returns. For additional help with your business’s accounting needs, enlist the services of a certified QuickBooks ProAdvisor. The platform integrates with popular sales tax software providers, such as Avalara and TaxJar, to streamline the sales tax management process and ensure compliance with local and state tax regulations. It can also support businesses that sell products or services in multiple jurisdictions, with the ability to calculate and track sales tax rates and rules for each jurisdiction.

  • Because there is an unlimited number of users that can use the program, you can maximize its use if you have a team of professionals who need access to your accounting software.
  • You can start with a single app, such as the accounting or payroll software, and add others as you expand.
  • To manage payroll through QuickBooks Payroll, you’ll need to pay a fee for this add-on service, with plans ranging from $45 to $125 per month, plus an additional $5 to $10 per employee per month.
  • Now you can sync QuickBooks Online Advanced and your spreadsheets for more accurate data and flexible reporting.

Offers four plans to accommodate a range of businesses with different needs; each plan limits the number of users, though. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. While QuickBooks Online is very popular among business owners, some have problems with the system. Problems stem from the complexity of making simple fixes, such as miscategorizations or duplicate entries.

Simplify Taxes

Based on the chart above, QuickBooks Desktop Pro excels in most areas of accounting, including banking, A/P and A/R, project accounting, and inventory, which we discuss in greater detail below. If you need more than three users, tangible you’ll need to upgrade to Premier or Enterprise. Read our QuickBooks Desktop versions comparison for insightful details on pricing and features. Seamlessly track and manage the data your company needs with these add-ons.

Who Uses QuickBooks?

There, they can review your numbers and print whatever information they need to submit your return. As QuickBooks tracks income, it will also tell you the number of possible deductions you are eligible for, saving you thousands of dollars every year. The initial Quicken software did not function as a “double-entry” accounting package. The initial release of QuickBooks was the DOS version that was based on the Quicken codebase. The Windows and Mac versions shared a different codebase that was based on In-House Accountant, which Intuit had acquired.

NEW! Payment links for customer pre-payments

QuickBooks Self-Employed is ideal for freelancers, real estate agents, and independent contractors, like Uber and Lyft drivers. Similar to QuickBooks Online, it’s a cloud-based product that can be accessed with your secure login from any computer with an internet connection. By managing all of your cash inflow and outflow activities in QuickBooks, you can print financial statements that provide useful information about how your business is performing. Lenders often require financial statements when you apply for a small business loan or line of credit. Invite your accountant, bookkeeper, or other users to collaborate on your books.

Create, Send & Track Invoices

This feature provides a clear overview of how funds are being spent and allows for better financial analysis and decision-making. Furthermore, QuickBooks generates comprehensive income reports that provide an overview of earnings, allowing businesses to gauge their financial performance accurately. By monitoring income trends over time, businesses can identify patterns, track the success of marketing campaigns, and make adjustments to optimize their revenue generation. From small businesses looking for a simple way to manage their accounts to large enterprises seeking comprehensive financial management solutions, QuickBooks has something for everyone.

How to Get Started with QuickBooks

So you can use it if you’re a freelancer, small company owner, large enterprise, and much more. One of the best things about QuickBooks Online is that they have a user-friendly interface. All QuickBooks Online products have the same interface, and so do all the QuickBooks Desktop products. There are also available free online training resources that you can use to get up to speed quickly. If you’re a startup with plans of expanding your workforce, QuickBooks Self-Employed won’t be the best fit as it cannot be upgraded to other QuickBooks versions. Many self-employed individuals and employees use their personal vehicles for business purposes.

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