QuickBooks Online Bookkeeping – 2019

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QuickBooks Online is a comprehensive web-based business accounting platform for individual accountants, as well as small and medium-sized business owner. The company provides a number of services including bank reconciliation, real-time tracking of expenses, the creation of invoices, and financial report generation. QuickBooks Online helps small businesses organize monthly expenses and income to create a precise profit/loss report. It also increases accountability and improves communication within an organization.

Is QuickBooks Online right for my business?

QuickBooks Online is a tailor-made solution for small business owners, and firms. It is available as a web-based and mobile app, so that it can be used anytime and anyplace. It provides a number of important features to organize your books, manage expenses, send invoices, and track inventory.

What features does QuickBooks offer?

  • Ability to download and reconcile credit card transactions
  • Efficient organization of weekly timesheets
  • Accurate tracking of bank deposits
  • Ability to upload screenshots of bills and submit them as expense proofs
  • Customizable templates to generate invoices, bills, and reports
  • Different permission levels for different individuals to maintain the security of financial data
  • Ability to import data from integrated applications including PayPal, Square, and American Express
  • Ability to create recurring invoices, send payment receipts online, and track receivables

How much does QuickBooks Online cost?

QuickBooks Online offers three different pricing plans, as well as a free 30-day trial so you can “try it before you buy it.”

  • Simple Start – $10/month
    • Track income, expenses, and profits
    • Create, capture and organize receipts
    • Track, calculate and manage your sales tax
    • Works on PC, Mac, and mobile
    • Only available for one user
  • Essentials – $17/month
    The Essential plan includes all the features of the Simple Start plan, as well as:

    • Real-time management and payment of bills
    • Transactions in multiple currencies
    • Generation of sales quotes
    • Up to three users can be registered to the account
  • Plus – $30/month
    The Plus plan includes all the features of Essentials plan, plus:

    • Inventory tracking
    • Creation of purchase orders
    • Tracking job profitability
    • Up to five users can be registered to the account

Pros of using QuickBooks

  • QuickBooks Online provides a large variety of decision-making tools
  • Customers are provided with the ability to pay their bills online
  • Efficient inventory and payroll management
  • Time-tracking feature implemented into invoicing
  • Automated backup of data
  • A wide variety of reporting options
  • Interactive and user-friendly interface
  • Ability to access and manage your financial task through the mobile app
  • Batch send feature to send invoices
  • Good integration with third-party software

Cons of using QuickBooks

  • QuickBooks Online offers a large set of features and functions. It takes a considerable amount of time to completely understand each and every function.
  • Most of the advanced features are only available at the highest pricing plan
  • Even in the highest pricing plan, only 5 users are allowed
  • No built-in feature to check for duplicate records, which leads to the creation of multiple records for a single client
  • The mobile app lacks many features that are only available in the web version

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