If you are a small business owner, it will come back to the decision between cloud-based and locally-installed software to determine which software is right for you. Deciding which type of software works best for your business model can make your QuickBooks choice a whole lot easier. If you want cloud-based software, there’s QuickBooks Online and QuickBooks Solopreneur.

QuickBooks Live Bookkeeping

If you’re scaling from five to 25 users and need advanced features like fixed asset accounting, then go with Advanced. Service or project-based businesses should choose accounting software that can track project costs, revenues, and profits. The software must have tools to track time, record billable hours or expenses, send invoices for progress billings, or monitor project progress and performance.

Is accounting software secure?

We are committed to providing you with an unbiased, thorough, and comprehensive evaluation to help you find the right accounting software for your business. We meticulously and objectively assess each software based on a fixed set of criteria—including pricing, features, ease of use, and customer support—in our internal case study. Terms, conditions, pricing, special features, how to calculate the carrying value of a bond and service and support options subject to change without notice. Requires a separate QuickBooks Payments account which is subject to eligibility criteria, credit and application approval.

1. This can be useful if you have many customers who need to be invoiced for the same products or services.
2. With an overall rating of 4.3/5, QuickBooks Online makes our list of the best accounting software for small businesses.
3. The QuickBooks Online plan that’s best for you largely depends on the number of users who will be using the program, the size of your business and your particular needs.

Which QuickBooks Online plan is right for you?

Businesses with inventory will likely get the most benefit from QuickBooks Plus. Large businesses that need access for up to 25 users will probably want to go with QuickBooks Advanced. If you don’t need accounting just yet, our new money solution offers banking, payments, and 5.00% APY—all with no subscription or starting fees. QuickBooks Online is a subscription-based product that gives you the freedom to work on the go. You can access and sync data across all your devices – computer, tablet and smartphone. Your data is securely backed up and you have instant access to the latest product and feature updates.

The QuickBooks Online plan that’s best for you largely depends on the number of users who will be using the program, the size of your business and your particular needs. If you are a small business or a startup, consider QuickBooks Simple Start. Businesses that provide services, rather than goods, should consider the QuickBooks Plus plan.

How much does QuickBooks Self-Employed cost?

Cloud-based software operates entirely in the cloud (on the internet), whereas locally-installed software is downloaded and installed on a single, on-premise computer. The first major deciding factor is whether or not you want cloud-based or locally-installed software. The real thing that sets QuickBooks Premier apart from QuickBooks Online and QuickBooks Pro is the industry-specific features. You also can have one to five users with QuickBooks Premier (instead of QuickBooks Pro’s three-user limit). QuickBooks Online has 750+ integrations, including 25 different payment processing options (such as QuickBooks Payments). Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you.

Based on the depreciation method you choose, Advanced automatically calculates the depreciation for the fixed asset and creates a depreciation schedule. Simple Start runs basic reports, including cash flow statements, profit and loss (P&L) statements, and balance sheets. Some of the other 20-plus built-in standard reports available include P&L by month and customer, quarterly P&L summaries, and general ledger. QuickBooks Simple Start is a good fit for businesses that are seeking a double-entry accounting system and for those with employees because of its integration with QuickBooks Payroll. QuickBooks Solopreneur works well for one-person businesses, especially if your bookkeeping knowledge is limited or if you need to separate your business and personal expenses. If your work is project-based or you often work remotely, it’s also a good solution.