QuickBooks is one great, versatile, and highly usable accounting software that helps one manage customers, vendors, clients, finances, payroll management, inventory, and more. Many business owners are aware of Intuit’s QuickBooks, as it has become a leader in the automated accounting world. There are some amazing features that QuickBooks software offers with the integration of inventory management that small-sized businesses are adopting to handle their work.

QuickBooks Online has made its way into small and medium-sized businesses, and people using it are quite satisfied. However, with all of that, if you are still unsure whether to think of having software to handle accounts. Rather than having a professional accountant do the task manually. Here is everything you should know. 

QuickBooks Online | QuickBooks Services

It is a cloud-based software system that came into the market in 2001 and since then it became a great platform with over 4.5 million paid subscribers. QuickBooks online is like any other cloud-based online service that has gained significant popularity due to its features like application integration, data management, payroll handling, taxation, and more.

QB online allows you to create your account easily, sign in with a web browser or through an application, also you can access the portal through the app easily with the smartphone. In QuickBooks online, there are different plans for users to pick from. You can start with the Simple start, then Essential, further Plus, Advanced and final is Self-employed. 

Each plan is basically like levels to unlock, from starting simple to ending up with being a professional. The best one to pick for your business will depend upon the kind of accounting needs your business has. You can capture, organize, arrange your activities through your smartphone easily. Accept payment, handle invoice, manage tax payment, run the report, evaluate profit and loss, and a lot more.

Let’s Understand Each Plan in QB Online

Simple Start

It is one of the most basic, easy to understand, and very simple plans to use. It allows a single user 

to make use of it and get done with quick reports, tracking expenses, income, manage invoices, and more. You can also track sales, the sale tax data can be managed well, capture, and organized. Further, you can accept payments, arrange receipts and carry tax deductions. Indeed, it is one of the least expensive plans that are available for your business. A small business owner can think of going with this plan first. 

Essential

It allows a maximum of three users to access the features that are available under the first plan, a simple start. Plus, it gives you a little advanced functionality of producing a detailed report. Furthermore, it adds the ability to track bill status, payment recording, create checks, from anyplace wherever you wish to access. This plan also provides you additional features, it is to keep up the information of employees, their working hours, their billable hours, etc. It will help integrate the data with your TSheets by QuickBooks online. Imagine the kind of benefits you will receive with the scheduling, time tracking for employees, managing bills option.

Plus 

This is another most popular QuickBooks plan that you can think of using for your business. It will also be suitable for small and medium-sized businesses. In addition to it, the features and function one receives from it will give you a great time handling almost everything related to accounting. This plan also allows 5 users to have the ability to tracking the project, its profitability, and inventory management as well.

Advanced

QuickBooks have also offered the advanced option to its user with adding ample of amazing features in their online version. It includes a dedicated account manager profile, on-demand online training opportunities too. The business analytics, as well as the insights, will give you better control over the business, managing invoices, making an automated workflow, and more. This plan being advanced makes about 25 users have access to the software, each can customize the software according to their needs. The Advanced version is a sort of membership program which you can make great use of.

Self Employed

As the name goes by, the Self-employed option in QuickBooks Tool Hub is more focused on the independent contractor, sole business owner, one who has filed a Schedule C 1040 Form when filing the taxes. In addition to it, there are many business functions provided in this version that we have discussed above. QuickBooks essential offers self-employed users the to separate their business, personal expenses, calculate a quarterly estimate, manage taxes, and a lot more. This version has the cheapest to advanced payment plans that you can grab and subscribe to.

Conclusion 

QBO is a lot easier to learn, understand, manage and make great use of with any web browser and through your smartphone easily. Since the software is a cloud-based program, it will be working anywhere, you can access it, use it and enjoy your time being saved up so much. With the help of this software, you are sure to see great progress in your business and make the most out of it.