Do you want to learn what the best online accounting software personal is? Or maybe you’re looking for online accounting software providers? Well, that’s exactly what this article is about. I’ll teach you all about Quickbooks for Medium-Sized Business including why it’s useful, how it works, and where to get additional resources.
The easiest way to learn about online accounting software companies is to search online accounting software providers. That was my goal anyway. I researched a bunch of accounting software providers but the best one that sticks out to me is Quickbooks for medium-sized businesses. The next time you need accounting software for quickbooks, consider Quickbooks for medium-sized businesses.
QuickBooks is accounting software that offers several versions designed to fit the needs of most small or medium-sized businesses. All versions of QuickBooks offer tools for routine accounting that simplify tracking income and expenses; more advanced versions provide features for managing contractors, setting prices or tracking inventory.
Whether you’re a sole proprietor or you have a huge payroll to manage, there’s a QuickBooks version to aid you in your accounting process. Its online accounting software includes one level for freelancers, called QuickBooks Self-Employed, and four levels for small business, from simple to advanced.
QuickBooks also offers two desktop versions, called Pro and Premier, for one to five users; a desktop version for Mac computers; and a desktop version called Enterprise that can handle 30 users and up to a million customers, vendors, and inventory items.
QuickBooks Online Essentials
The next level of the online software includes the features from Self-Employed and Simple Start, plus the following:
- Manage bills
- Track time
- Include three users
How Much Does QuickBooks Online Cost? A Review of Features and Pricing
QuickBooks Online (QBO) operates very differently from the desktop version. You can purchase a monthly or yearly license and updates happen automatically as they are released. Some reasons businesses choose QBO are:
- Access from any location including mobile devices
- Cost effectiveness
- Integrates with a broad range of additional apps that create a financial eco-system for small business
Many small businesses, without a need for complex reports, will opt to use the online version. Startups also tend to use this version because of the low cost and accessibility.
There are three options to choose from with QuickBooks Online: Simple Start, Essentials and Plus.
Simple Start costs about $15 per month. It covers the basic needs of a business; tracking income and expenses, invoicing and syncs with your bank. If you need more features than Simple Start offers, the next option is Essentials.
Essentials costs around $30 per month and has additional features such as bill pay and profit & loss reporting.
Plus offers more advanced features. It costs around $40 per month and provides everything that Simple Start and Essentials provides along with inventory tracking and 1099 preparation.
The price for QBO fluctuates so we can’t provide an exact monthly fee. There are added fees depending on the number of users and if you want to integrate applications at time of purchase.
How Much Does QuickBooks Desktop Cost? A Review of Features and Pricing
QuickBooks Desktop (QBD) allows for more in-depth reporting like manufacturing, inventory, and job costing. It also allows for more users per file. Some top features include:
- Multiple User Access
- Job Costing if you use Intuit or Insperity Payroll
- Profit and Loss by Class, Service Item, Customer or Job
- Forecasting
- 1099s
Unlike QuickBooks Online, you purchase the software, install on your servers or desktop, and have the option of updating every year. QBD has upfront cost because the software has to be purchased. There are three options to choose from: Pro, Premier and Enterprise.
Pro software starts at $300 and provides up to 3 users per license.
Premier ranges from $500-$1,200 with 5 user licenses. Premier also allows your business to track inventory and make purchase orders.
Enterprise is more robust and costs $2,200 to $5,000 depending on the licenses you need. If you need accurate job costing and manufacturing, this is the best option.
Just like QBO, the cost can vary drastically for this product depending on how many users and the specific features your business requires.
QuickBooks Enterprise
Pros:
- Local only and with hosting plans available
- Advanced features and industry-specific tools
- Numerous integration options
- QuickBooks Payroll included with Gold and Platinum plans at no additional cost
- Priority Circle customer support.
Cons:
- Expensive annual cost
- Pricing varies based on the number of users required
- Certain advanced modules (e.g. inventory and pricing) require the highest-level plan
- Local-only versions are not compatible with Mac.
One of the most powerful accounting systems on the market, QuickBooks Enterprise is a great all-in-one solution for medium-sized businesses.
QuickBooks Enterprise offers industry-specific tools, reports and features for contractors, manufacturers and wholesalers, nonprofits and retailers. This robust software also includes advanced inventory features and advanced pricing options for your customers, meaning you can truly customize the software to fit your needs.
Additionally, QuickBooks Enterprise provides a built-in sales tax module to help keep you compliant with all sales tax laws that apply to your business. Plus, the two upper-level plans, Gold and Platinum, offer QuickBooks Desktop Payroll Enhanced — allowing you to pay an unlimited number of employees with no additional monthly fees.
In terms of internal controls, QuickBooks Enterprise allows you to set custom user permissions for up to 30 users, meaning you have complete control over who sees what information in your growing medium-sized company.
This being said, however, the price of QuickBooks Enterprise will also vary based on the number of users you require. For the basic, Silver package with one user, this accounting software system will cost $1,213 per year. If you want the “with hosting” version of the same plan, you’ll instead pay $145 per month.
Of course, with the higher-level Gold and Platinum packages, the cost will increase, but these plans also offer some of the more advanced modules.
With all of this in mind, it’s also worth noting that although QuickBooks Enterprise offers integrations and QuickBooks Payroll (with the higher-level plans), it does not necessarily provide the full range of payroll and HR capabilities you might need as a medium-sized business. Therefore, you might choose to outsource these functions or opt for a more specialized payroll and HR software that can integrate with QuickBooks Enterprise.
All in all, however, there’s no doubt that QuickBooks Enterprise is one of the best accounting systems for medium-sized businesses.
QuickBooks Online Advanced
Pros:
- Fully cloud-based; access wherever you have internet
- Includes 25 users and up to three accountants
- Features can be customized to your business; industry-specific tools
- Variety of integration options
- QuickBooks Priority Circle membership and support.
Cons:
- Doesn’t include payroll; no project management features
- Monthly cost can be greater than certain versions of the more advanced QuickBooks Enterprise.
Although QuickBooks Online is typically considered one of the best accounting solutions for small businesses, the most advanced version of this software, aptly named QuickBooks Online Advanced, can be a great choice for medium-sized businesses.
With QuickBooks Online Advanced, medium-sized companies can experience the ease of use and mobility of QuickBooks Online, while also getting the robust accounting abilities they need. QuickBooks Online Advanced supports up to 25 users and three accountants, unlimited class and location tracking, unlimited chart of accounts entries, top-tier customer support and online training to help your team learn how to use the software.
Additionally, one of the most notable features of QuickBooks Online Advanced is that it includes a subscription to Fathom — a powerful reporting and analytics software. Fathom helps QuickBooks Online Advanced users get the most out of their accounting data by providing smart dashboards, the ability to customize projections and monthly KPI tracking.
Moreover, similarly to QuickBooks Enterprise, QuickBooks Online Advanced offers industry-specific tools — for professional service-businesses, legal companies, nonprofits, accountants, construction businesses and food and beverage companies.
Plus, everything in QuickBooks Online Advanced can be customized to your business and you can take advantage of the vast integration options in the QuickBooks app network.
This being said, QuickBooks Online Advanced costs $180 per month, putting it in line with certain versions of QuickBooks Enterprise in terms of pricing.
Overall, QuickBooks Online Advanced is one of the best cloud-based accounting software for medium-sized businesses — especially those who are looking for the flexibility and accessibility that QuickBooks Enterprise might be lacking.
Conclusion:
You may have heard of Quickbooks for PC accounting software. Quickbooks is the leader in online accounting software for medium-sized business. The best free online accounting software is really easy to use, you can do it yourself or ask Quickbooks for small business experts to help you.