Compare features, pricing, and expert reviews for your business software needs – all in one place. Cassie is a former deputy editor who collaborated with teams around the world while living in the beautiful hills of Kentucky. Focusing on bringing growth to small businesses, she is passionate about economic development and has held positions on the boards of directors of two non-profit organizations seeking to revitalize her former railroad town. Prior to joining the team at Forbes Advisor, Cassie was a content operations manager and copywriting manager. However, automatic bill tracking does not mean you cannot do that manually. You can directly record a manual transaction easily, whether in cash or check.
Accounting Software for Small and Growing Businesses
This subscription plan is specifically for freelancers and independent contractors and is priced at $10 per month, then $20 per month. QuickBooks makes it easier for your business as it calculates your income and expenses automatically as they happen. Our team of experts are here to support you 24 hours a day, Monday to Friday.
QuickBooks will send a personalised reminder email when a customer’s due date is approaching. Schedule invoices to be sent automatically or send invoices in batches to increase efficiency. QuickBooks desktop also supports a migration feature where customers can migrate their desktop data from a pro or prem SKU’s to Quickbooks Online. QuickBooks provides a variety of built-in reports like Profit & Loss, Balance Sheet, Accounts Receivable, Accounts Payable and Cash Flow to gain business insights into your company’s financial health.
Figure out your tax needs
The Chart of Accounts contains your company’s financial information. Checking, savings, dividend, accounts receivable and balance sheets appear within the Chart of Account list. Account balances and other information, including account numbers and contact details, appear within each individual account’s window. The list of accounts appears under the Lists menu in the Chart of Accounts. Generally, deleting an account should be avoided; instead, make the account inactive to provide more accurate tracking. QuickBooks creates several recommended accounts based on your business type.
- However you work, no matter what your business does, QuickBooks has a plan for you.
- QuickBooks allows users to create income and expense accounts to track all money flowing in and out of the business.
- QuickBooks is easy to use and helps automate accounting tasks such as bookkeeping, invoicing, time tracking, expense tracking, inventory tracking with increased accuracy.
- Your accountant can then navigate to the main “Reconcile” page and select the “History by account” button on the upper-right corner.
With QuickBooks Online, you also get the latest security capabilities. Know that your data is protected without downloading and installing product updates. You don’t have to worry about losing everything in a fire or an unforeseen event.
Vendor, Customer and Item Lists
Beyond basics, QuickBooks offers advanced capabilities like multi-currency support, inventory management, payroll services, and 3rd party integrations. We’d also highly recommend FreshBooks, a solution that has almost as many features and comes at a slightly lower price. It’s a particularly attractive pick for ecommerce businesses, since it has inventory management tools across all plans, while QuickBooks lacks this tool across its lowest two plans, Simple Start and Essentials. You’ll also want to add integrations with any other business software service you already use. QuickBooks offers a range of integrations covering areas including sales, compliance, marketing, and cash flow forecasting.
Not sure what you need? We’ll help you find a plan that fits.
QBO centralizes accounting into an integrated system with seamless workflows. This eliminates duplicated efforts from manual hand-offs or working across disparate systems. Everything from invoicing to reporting can be managed efficiently in one place. We’re a headhunter agency that connects US businesses with elite LATAM professionals who integrate seamlessly as remote team members — aligned to US time zones, cutting overhead by 70%. Once you have a handle on the day-to-day use of QuickBooks Online, try adding a few more tips and tricks to help you get the most out of the experience. You can download and get started after spending a couple of hours browsing through the different screens.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. A seasoned small business and enterprise technology writer and educator with more than 20 years of experience, Shweta excels in demystifying complex tech tools and concepts for small businesses.