When it seems like there is a business software application for everything, it pays to be choosy. Most integrations come with monthly subscription fees, so be sure to account for these extra costs when calculating how big of a dent QuickBooks Online is going to leave in your wallet. The cost begins at $17.99 and varies depending on which form you need and how many.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. Consider using QB Desktop to manage multi company files with a single license. QuickBooks Desktop Payroll add-on services for QuickBooks 2020 versions are being discontinued as of May 31st, 2023. Payroll services for any QuickBooks versions starting in 2021 are still up and running.
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This allows us to rank each software in comparison to the rest while tracking each and every feature. Once the dust had cleared, the winner was QuickBooks with a top score of 4.7 points overall. QuickBooks’ range of over 650 integrations will help you connect your account to useful third-party apps and services.
- QuickBooks Desktop Payroll alternatives, such as QuickBooks Online and Gusto offer stronger tax support at a similar price point.
- QuickBooks Online Self-Employed works very well for people who work for themselves in a service industry and report their business income on Schedule C of their personal income tax return.
- The Plus Plan is $25.50 per month for the first three months, then becomes $85 per month, and adds up to five users.
- You also get access to exclusive premium apps such as LeanLaw, HubSpot, DocuSign, Bill.com, Salesforce, and more.
- This plan gives you extra automation features through assisted payroll.
Although it has the lowest starting price, at $12 per month, it can be a little more difficult to navigate than QuickBooks or FreshBooks. Because there is an unlimited number of users that can use the program, you can maximize its use if you have a team of professionals who need access to your accounting software. For Xero’s Early plan ($13), the number of invoices that users can send each month is capped at 20, but for all other Xero plans, users can send unlimited invoices. Additionally, QuickBooks Enterprise Diamond Assisted Payroll users are limited to four payroll runs per month. QuickBooks Enhanced Payroll is included with QuickBooks Enterprise Gold and Platinum plans, so users are not required to pay the monthly base subscription fee or a monthly per-employee-paid fee.
That makes QuickBooks Online a good alternative for businesses that aren’t quite ready for QuickBooks Enterprise yet. These features are available in every QuickBooks Enterprise subscription. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. You can switch from QuickBooks Self-Employed to any QuickBooks Online plan—except Advanced.
How simple is it to change from one QuickBooks Online plan to another?
Life as a small business owner and freelancer is very different from that of a traditional employee, and your finances will be impacted if you make this kind of career move. Mileage tracking is available on QuickBooks Self-Employed and QuickBooks Online on iOS and Android only. QuickBooks MTD software currently supports Standard, Cash and Flat Rate schemes.
How We Evaluated QuickBooks Online Plans
Once you’ve recorded your billable time, you can add them to your invoice and then send it to your client. This feature is ideal for service-based businesses that charge work by the hour, such as lawyers and independent contractors. Through the categorization, reconciliation, and books close process, your Live Bookkeeper ensures your books are accurate.
If you purchased Desktop software via retail, make sure to place your credit card on file for uninterrupted service. When you move to QuickBooks Online, you’ll create a new account and login. You can migrate your business and payroll data to QuickBooks Online and keep a copy of the original file for your records. Banking services provided by our partner, Green Dot Bank, Member FDIC.
Retailers and wholesalers should choose Plus so that they can track the quantity on hand and the cost of inventory. Contractors should also select Plus to track the profitability of individual projects. Other businesses should consider what is inventory whether tracking P&L by class and location is worth the extra $30 per month. With QuickBooks Essentials, you can track billable time by job and assign it to a specific customer—something you can’t achieve with Simple Start.
With QuickBooks Assisted Payroll, QuickBooks processes your payroll for you and automatically files your payroll taxes. QuickBooks Desktop Assisted handles the payroll setup for you as well. QuickBooks Payroll pricing starts at $45/month + $6/employee per month. Compared to other payroll software options, QuickBooks Payroll pricing is in the middle of the pack — not too expensive, but there are cheaper options available.
The best QuickBooks Online version depends on the size of your business and your particular needs. If you deal with inventory or large projects heavily, Plus is the best option. However, self-employed persons should consider Self-Employed—unless they have an employee, which will require an upgrade to Simple Start. If your business is service-based without any inventory, then Essentials should provide everything you need while saving you $30 per month compared to Plus. Meanwhile, Essentials gives you access to more than 40 reports, including those you can generate in Simple Start.
At a minimum, you will pay $30/month for a QuickBooks Online Simple Start subscription. Between the QuickBooks Online monthly fee, monthly payroll cost, bookkeeping support, payment processing fees, and other integrations, the cost of QuickBooks Online can add up quickly. Compared with QuickBooks, Xero’s plans and pricing structure are simpler and less expensive. Like QuickBooks, Xero offers a free 30-day trial or discounted pricing for the first few months of use. QuickBooks Enterprise Gold, Platinum, and Diamond users are not required to pay the base subscription fee for QuickBooks Payroll, as Enterprise plans include payroll services.