QuickBooks is a small business accounting software with features like contractor management, bookkeeping, and detailed dashboards for generating business insights.
Pros
- Business insights dashboard
- Mobile app for receipt tracking
- Large library of integrations
Cons
- Relatively expensive plans
- No free subscription
- No direct with Slack
QuickBooks at a Glance
Best for for small businesses that need an online accounting system
Price range: From $12.50 for the basic plan
Key features: Manage invoices, expenses, and contractors
Apps: Web, Android, iOS
Integrations: PayPal, Square, TSheetsQuickBooks Ease of Setup and Use
QuickBooks prioritizes customer interaction. If you are considering using the software for your accounting needs, it is recommended to first contact the QuickBooks sales team, available Monday through Friday, 9:00 a.m. to 5:00 p.m. Pacific Time. Additionally, QuickBooks has created comprehensive registration documents that can guide customers through the setup process. QuickBooks is an intuitive and easy-to-use platform. Its web interface and mobile apps allow small businesses to update their accounts from the office or on the go.
QuickBooks Pricing and Plans
Users can subscribe to different levels, from the Basic plan to the Advanced plan, ideal for experienced users, with capacity for up to 25 users.
Additionally, Payroll Core costs an additional $22.50 per month, plus $4 per employee per month for processing.
QuickBooks Features
Project Profitability Tracking
QuickBooks allows users to track the profitability of each project. QuickBooks can pull data from a company’s Cost and Expense Database (CODB) to calculate the profitability of each ongoing project. For companies that operate with projects, this feature makes it easier to identify cost overruns and maintain profitability goals.
Real Time Inventory Tracking
QuickBooks allows online retailers to track inventory in real time. Additionally, the QuickBooks website includes an inventory tracking system designed to prevent both excess and shortages. Customers can receive instant notifications about expected inventory levels as soon as purchase orders (POs) are entered into the system. Demand reports make it easy for businesses to quickly identify their best-selling products. Online sales reports can be synced with major e-commerce platforms, such as Amazon, Etsy, and Shopify.
General Ledger and Expense Tracking
Expense Scanning
Users can record expenses in QuickBooks by scanning them and uploading them directly to the platform or emailing them to an address specifically associated with their account. Once receipts are collected, they can be categorized in the system. Additionally, QuickBooks uses optical character recognition (OCR) technology to automatically determine the content of scanned receipts, including the payment date, vendor, payment method used, and amount paid. Payments can also be attached to issued invoices. This feature is useful for businesses and freelancers who bill clients for expenses incurred.
Billing and Invoicing
Bill Organization
QuickBooks allows you to enter invoices for payments and collections. With QuickBooks, businesses can settle outstanding balances with credit or debit cards, as well as through bank transfers. All payment options can be managed from the user area. All paid invoices are recorded and tracked through the system. Additionally, users can connect their bank accounts to automatically track and categorize incoming and outgoing payments. The system also allows invoice payments to be postponed to optimize cash flow.
Professional Invoicing
- One of QuickBooks’ core features is, of course, the ability to create and send invoices. With QuickBooks, users can:
- Apply theme settings so the design and color scheme of their invoices match their internal style and brand guidelines.
- Organize recurring invoices. This is perfect for businesses that pay clients in installments.
Add billable hours. To simplify importing, users can integrate with Google Calendar or TSheets and import logged hours.QuickBooks Integrations
QuickBooks supports a wide range of integrations, allowing customers to optimize their online accounting platform by connecting it with other online services.
These include:
- Calendar and time-tracking apps. QuickBooks integrates with Google Calendar and TSheets to automatically import logged time into client accounts and invoice them.
- E-commerce connectors are also available. One example is BigCommerce’s QuickBooks app, which allows businesses to automatically create the documents needed to sell online.
QuickBooks Mobile Apps
QuickBooks has apps for Android and iOS, which can be downloaded from the Google Play Store and Apple App Store, respectively. The app version only offers the features available in Online Simple Start. Therefore, at the time of writing, customers on the Essentials, Plus, and Advanced plans will not be able to access the additional features from the mobile versions. Additionally, the mobile versions allow access to multiple accounts. Those who wish to make and process payments directly from their mobile devices can do so using the Mobile Card Reader. Customers can create invoices directly from the app.
QuickBooks Customer Support
Need to contact QuickBooks Customer Support? Intuit has a comprehensive online troubleshooting section designed to help users resolve their own issues before contacting the team.
If users are unable to resolve their issue through the documentation or community forum, they can initiate a support conversation via live chat or phone. Live chat is available from 6:00 a.m. to 7:00 p.m. (Pacific Time), Monday through Friday (Pacific Time), and from 6:00 a.m. to 7:00 p.m. (Pacific Time) and 3:00 p.m. on Saturdays. The phone line is available from 6:00 a.m. to 5:00 p.m. (Monday through Friday), and is closed on weekends.
Bottom Line
QuickBooks is a powerful invoicing and accounting system, preferred by small businesses worldwide. Its features include contractor expense tracking, project profitability reporting, and receipt recording via direct upload and email. There is no free plan, but paying users can choose the premium plan that best suits their needs.