QuickBooks for Small Business: Which Version Do You Need?

quickbooks simple

In the other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. Currently, Alliant Credit Union doesn’t have a business account. Here’s an up-to-date list of alternatives for the Alliant Credit Union Business Account. This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals.

This tier allows for efficient tracking of income and expenses, creating and sending invoices, and basic reporting to monitor the financial health of your business. QuickBooks Online is our overall best small business accounting software. To help narrow down the best plan for your business, answer a few short questions below.

Managing Banking Transactions

It allows you to run and view reports easily like the number of outstanding invoices, total amount due from clients and details of each invoice (paid or due). In this article, we will discuss what QuickBooks is and how it works so that you can understand the different ways in which it can help you save time and be on top of your financial statements. Dummies has always stood for taking on complex concepts and making them easy to understand. Dummies helps everyone be more knowledgeable and confident in applying what they know. Pick the tier that not only fits your current reality but also won’t leave you stranded as you hit new milestones.

  • Create professional custom invoices, send payment reminders, and match payments to invoices, automatically.
  • QuickBooks Online is an incredibly comprehensive financial solution that is easy to use and navigate.
  • If you deal with inventory or large projects heavily, Plus is the best option.
  • QuickBooks is the platform most used by professional accountants so if you plan to work with an accountant, they will likely be very familiar with the platform, its features and capabilities.

The ability to connect to other applications, such as banks and payroll services, is also extremely helpful. QuickBooks Online is a cloud-based accounting platform while QuickBooks is a desktop program that provides additional inventory management features. Simple Start includes comprehensive income and expense tracking, which allows users to monitor their cash flow closely. Invoicing is straightforward, enabling business owners to create and send invoices directly to clients, facilitating a smoother payment process.

What is the difference between QuickBooks and QuickBooks Online?

Using the Banking tab on the left side of the dashboard, you can connect your bank and credit card accounts so that QuickBooks automatically imports transactions and categorizes them for you. Later, when reconciling your books, you’ll be able to review these transactions in the For Review tab within the Banking menu. We offer different plans and features designed for businesses of all sizes and industries. We also integrate seamlessly with a wide range of third-party apps and services to help you improve your workflow enabling you to customise our platform to suit your business needs. 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.

quickbooks simple

It is an effective solution for those who need simplicity and efficiency in their accounting software. Designed for small but growing businesses, Essentials builds upon Simple Start by adding the ability to manage bills and support for multiple users. This tier is for businesses that have outgrown the most basic accounting needs and require additional functionality to manage their increasing financial activities. This covers how to record your sales and track your income in QuickBooks Online.

Benefits of QuickBooks Online

Plus, with access for up to 40 users, Enterprise can scale with your business as it grows. Currently, QuickBooks is offering two different specials; you can either try it free for 30 days or sign up and get a 50% discount on your first three months. While setting up QuickBooks, you can connect your bank as well as credit card accounts to the software. Once done, QuickBooks tracks your bills and expenses automatically. QuickBooks Simple Start aims to provide the essentials required to manage business finances without overwhelming the user with advanced features that a small operation may not need.

You can drill down to a list of your outstanding invoices instead of only the total outstanding. QuickBooks Online Self-Employed works very well for people who work for themselves in a service industry and report their welcome to bookkeepers com where we love bookkeeping! business income on Schedule C of their personal income tax return. We even consider it the best for tracking freelance income and filing tax returns in our guide to the best accounting software for freelancers.


Businesses will need to upgrade to the higher QuickBooks Online plans to use inventory accounting features, such as the ability to track stock items and value and automatically update quantities. The ability to send invoices and manage and track unpaid bills is important for small business and freelancers. All QuickBooks Online versions have invoicing features but some have more advanced features, like the ability to create recurring invoices. Meanwhile, not all versions allow you to manage and track unpaid bills.

Think of QuickBooks Simple Start as your trusty companion in the early stages of your business, where simplicity meets functionality. It’s the no-nonsense program that helps you track where every penny goes and ensures your invoices are punctual and accurate. Our free QuickBooks tutorials will teach you the basics you need to know to start keeping the books for your small company or employer. Don’t be intimidated by the size of the tutorial―take one lesson or tutorial at a time.

Managing Business Credit Card Transactions

QuickBooks makes it easy to create invoices either from scratch or from an earlier estimate. Workyard was built from the ground up to support construction companies. Keep an eye on your business trajectory and plan for the features you might need down the line. This way, you can ensure that your accounting platform remains a solid backbone for your business, supporting your financial management no matter how big your business gets.

Have multiple businesses?

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