Quickbooks Review 2021

  • Keeps your finances organized
  • Accept payments, complete bookkeeping, and tax prep
  • Organize receipts and track mileage in one place

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Quickbooks is Intuit’s answer to all your small business accounting needs. With various features and add-ons, it’s simple to customize your experience. Read our Quickbooks review to find out more.

What exactly is Quickbooks?

Quickbooks is powerful accounting software with 20 years in the game. Having been in the business for such a long time, they know what their customers need and have evolved over time to meet those needs. Quickbooks offers 3 different packages in a tiered format. With tiered pricing depending on the unique needs of your business, Quickbooks offers a multitude of features and excellent customer support.

While Quickbooks does offer accounting tools for the self-employed, their core clientele are small to medium-sized businesses and they offer computer software as well as cloud-based systems. Quickbooks as an accounting software is efficient and effective. The user interface is streamlined and easy to understand. Quickbooks has helped many small businesses manage their books and keep record of their growing company. In fact, Quickbooks is so universally known that in many job postings “Quickbook Experience” is a requirement.

In the following Quickbooks review we will explore Quickbooks and if it’s right for you. The add-ons and what is featured in each tier. Where Quickbooks came from and if it’s safe to use. What security measures are in place to keep your business safe and protect your information. And if you find that Quickbooks is not for you, what are some good trustworthy alternatives. All of this, and more,  will be covered in the article. Enjoy!

Who owns Quickbooks?

Quickbooks is owned by the Bay Area based software company: Intuit. They specialize in financial software which can give you as a consumer peace of mind knowing that they are well versed in all things finance. They are the leaders in the field and they deliver results with their products. One of the many great things to come out of the silicon valley and tried and true company that has been used by many companies for many years.

You may be familiar with a few other companies owned and operated by the Intuit company. Namely TurboTax, Mint and Credit Karma. They have made a name for themselves in the finance field and are trusted worldwide, and for good reason. Your numbers, data and business information is safe with them and you can rest assured knowing that you are being provided top tier service and the most up to date tools, all while being well protected.

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Does Quickbooks Offer Discounts?

While there is a discount feature on Quickbooks, there is no discount when purchasing Quickbooks at this time. The program is well worth the price and the add-on features are really top notch. Investing in your business is par for the course and Quickbooks is definitely something you should splurge on if at all possible.

Is Quickbooks Safe to Use?

Quickbooks is constantly growing and changing with the world, especially when it comes to security. Being in business as long as they have been they understand how important it is to stay up to date on the newest trends and tools. By keeping their systems up to date with current practices they can ensure a secure experience for its users.

Quickbooks approaches security from a Shared Responsibility model. Basically Quickbooks guarantees your security but you do need to do your part as the account owner. Quickbooks does most of the heavy lifting with software, infrastructure and disaster recovery. The part that you, the user, handles is the typical stuff. Making sure you don’t share your password and that you have a good strong password to begin with. You are also responsible for any third party apps you may entrust your information to as well as how you backup your data. 

Just as with most web app providers, Quickbook goes above and beyond with their security. Their goal is to keep their infrastructure strong, thus ensuring that they are able to maintain nearly 100% service availability. In fact they have an entire security team dedicated to keep the platform up and running for its users. This security team is your security team, which is a huge plus to using an online managed service like Quickbooks.

Cost of Using Quickbooks

The three pricing plans Quickbooks offers are all on a subscription basis. This subscription is charged monthly. At any time during your subscription you may cancel without being penalized. Once your subscription starts you will have the opportunity to utilize the on-boarding system which will help you navigate Quickbooks so that you can get the most out of your subscription. All of the tools and features are explained and elaborated on so that you can get started managing your finances as quickly as possible. Along with the onboarding program offered,  there is also  technical support that comes with all three of their subscription tiers.

Quickbooks is used by a multitude of businesses of all different sizes. That being said, there are two main categories of users: small business and the self employed. As of the time that this article is being written, Quickbooks offers a 30-day free trial and if you sign up for 3 months you will receive a 50% discount on those 3 months. Unfortunately there is no way to use Quickbooks without a subscription of some sort.

The small business accounting plan caters to non-profits, corporations, partnerships, sole proprietors and the like. Having been created with these customers in mind this plan charges $20 a month. As previously stated, you may subscribe for 3 months at $10 per month with their current promotion. There are a multitude of features included with this plan. Tracking income and expenses, cash flow planner, sales and sales tax tracking, the ability to capture and organize receipts, you may track mileage automatically, run reports, create invoices and accept payments, process invoicing, maximize tax deductions and send estimates. This is all included in the Easy Start program. This is a solid base for any small company and anticipates the needs that you will face while managing the finances of any business.

The essential plan is naturally a bit more robust to be able to meet the needs of a slightly larger company, or maybe just a company looking to grow quickly. Access to this plan is $40 a month but once again, 3 months is $20 per month with the current promotion that Quickbooks is offering. All the Easy Start features are included as a base to this plan, with additional features to maximize business income potential. One of those features being the capacity to support multiple users, which is of course a Godsend for growing businesses. Bill and payment management is also included in this mid tier package, which makes Quickbooks a one stop shop and allows you to streamline all your financial processing. In addition, this particular tier is equipped with multi-currency support for the expanding company. Time tracking is also included, making efficiency and time management easy.

The highest tier subscription package is known as the Plus Plan. This particular plan is the priciest at $60 a month, this plan also offers the 50% off promotion. Along with the features included in the Easy Start and Essential Plan, the Plus Plan boasts 2 additional features that are complete game changers. Tracking project profitability as well as tracking inventory are simply and seamless included with this plan.

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Features

From paying bills and handling payroll to inventory and projection reports, Quickbooks makes handling the finance side of your business simple and precise. This out of the box tier has many great features that will help your business stay on top of its finances.The base tier plan offers invoicing, estimates, expense tracking (including mileage tracking), reports and deductions. As we can see this seems to be geared towards smaller businesses which isn’t to say there is no room for growth. As you will see in our second tier.

The higher tiered plans offer extra features for growing businesses. When you sign up with one of these higher tiers you can expect project management tools, more in depth inventory features as well as the ability to have multiple users. This is ideal if you have a more well established and quickly growing business and are juggling multiple things at once. With this tier Quickbooks can be a catch all for whatever stage of transactions you’re in.

One stand out feature that deserves a mention is the multi-currency feature. This multi-currency Quickbooks feature goes hand in hand with the ability to use multiple languages. Quickbooks really keeps expansion in mind with these gems. You are able to apply this feature to customers, vendors, price levels, bank accounts, credit card accounts, and accounts receivable and payable. Needless to say you are covered when it comes to more than one currency and are free to dream big with your business goals and ventures. No matter where in the world your successes take you, Quickbooks will have your back.

Transactions are the base of any and all companies, knowing this Quickbooks has made easy transactions a priority. Thus drawing in more customers with the streamlined process. Checking in on customer payments is a breeze with Quickbooks. When collecting payment is simple, so is paying your employees which is vital to the success of any business no matter how big or small.. The simplicity of this process keeps patrons coming back and staff paid and happy.

Quickbooks also offers add ons for an additional cost such as an online accountant. This online accountant can collaborate with you directly through the platform. This add on is useful for having questions answered or numbers double checked when in doubt. There are even more features including; data sync, tax management, and employee time tracking. Enough tools to give any accountant butterflies.

Pros and Cons of Quickbooks

Let’s start with the pros. The compatibility of Quickbooks checks all the boxes. Accessible through any computer, iOS, and Android devices. Making it easy to access from the office or on the go. The product has been hailed by many an accountant as the accounting tool.

Quickbooks wants you to be good at using Quickbooks. They offer in app tutorials and articles to guide the user through all their tools and features. If you still have questions, Quickbook has a customer service phone number which is available during regular business hours. The customer service reps are patient and well versed in their product which means they are able to guide you and help you solve whatever problem you are having with the program. While most will say that accountants and bookkeepers are able to jump into Quickbooks with ease, there may be a learning curve while using something new. Either way with the articles, in app tutorials and customer service you can you find the answer you are looking for one way or another.

This system is cash friendly. It’s simple to switch from cash-based to accrual-based view. Which is a big win for small businesses. This feature isa life saver for many a small business, especially when your customer base prefers cash over other methods of payment. Accessing this feature is simple and easy to use.

Now onto some of the downsides of Quickbooks. Some basic knowledge of accounting is required to easily navigate the software. The tutorials are helpful but the program is catered to someone with prior knowledge, without a doubt. This might make Quickbooks a bit inaccessible to someone just learning how to maintain and monitor their businesses finances.

Entries in the credit card system leave much to be desired and can be a stumbling block when you are trying to be as efficient with your time as you can be. If the entries are not identical then they will be in separate categories even if they are from the same place. One can manually change this and combine them, but it is a bit of a nuisance. Not the best when you’re trying to keep thorough and accurate reports.

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Alternatives to Quickbooks

If for whatever reason you have decided that Quickbooks is not for you, fear not! There are a multitude of great alternatives out there, depending on what you’re looking for. We’ve found the most popular and well rated alternatives to Quickbooks and have compiled a small list with description of each alternative. All of these alternatives are endorsed and proven tools that are sure to help with all your business finance needs. Take a look:

First we have Xero, a New Zealand based company with a simple interface and accessible language. No gate-keeping here! Without the accounting jargon, it’s a lot easier for someone a little green to accounting to jump right in and use the platform. Just like Quickbooks, Xero has a tiered system based on your needs. Another feature that is nearly unheard of is unlimited users for every plan. Overall Xero is a great option for large scale business bookkeeping.

For the self-employed, we recommend Freshbooks. With the ability to both invoice your clients and collect payments, Freshbooks makes it easy to keep things moving. Staying on top of your customers needs is crucial, especially doing so in a timely manner. One downside is the lack of a balance sheet, which could be a dealbreaker for some businesses. Freshbooks is also protected with encryption, making sure that your accounts are safe and secure.

Sage is another alternative to Quickbooks. Sage was created with larger companies in mind. If you have a bigger business or a larger inventory then Sage is your best bet. Perhaps even for the businesses that have outgrown Quickbooks entirely, this could be a solid option at that stage. This app provides more inventory solutions than Quickbooks and an array of product management tools. Being that Sage is more detailed and elaborate it does take a bit more time to master. That being said, once you’ve grasped the interface you will be grateful for the attention to detail.

Our last alternative is Wave Accounting. This alternative is free! That is the main selling point of this platform which is a pretty great one! There are very few differences other than the price, so you can imagine that Wave Accounting has quite a few great features. This particular platform appeals to freelancers and the self employed. I will say that in order to access more advanced features such as payroll or customer payments you will be charged a fee. Splurging for accuracy and more detail is never a bad idea. For a bare bones accounting system that has zero cost look no further than Wave Accounting. This could even be a precursor to Quickbooks for the business that is just starting out and finding their footing.

Quickbooks Review: the bottom line

When it comes to usability, features and accounting, Quickbooks hits all the marks. Quickbooks is an internationally used bookkeeping company that offers a streamline and easy way to keep your business moving. The customer support is exceptional and the user interface is very intuitive. The Quickbooks platform is perfect for any small business looking for a catch all for their bookkeeping. While being an internationally acclaimed software operating worldwide, it is a no brainer for any and all businesses looking to get ahead while staying organized. Serving business for more than 20 years, they provide everything you need to keep your business running smoothly while planning for the future. It offers something for every business type and the flexibility of the add on features just can’t be beat.

Do We Recommend Quickbooks?

100% yes we recommend Quickbooks for all your small business accounting needs. You can’t beat the efficiency. The add-ons are amazing and the user interface is simple and accessible. When first starting the program you may feel a bit in over your head but thank goodness for excellent customer service. Even if you forgo the add-ons, Quickbooks comes with many great out of the box features. The transition from small business to a larger company is easy with Quickbooks as well, overall the program sets you up for success and encourages growth within your business. There is a reason that Quickbooks are known as the standard for small businesses. One thing I will say is that you should plan on using a bookkeeper or account regularly just for maintenance. Most experienced bookkeepers and accountants should be able to manage Quickbooks with little to no difficulty. Quickbooks is reliable, it’s stable and most of all its a proven product.

Overall Quickbooks will help you reach your milestones, financial goals for your business with less headaches and more efficiency. If this review helped you make a decision about which direction to go and which accounting program to use please let us know. We hope you found this review to be helpful and informative. Good luck!

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Quickbooks Review 2021

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October 25, 2021
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