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QuickBooks Online (QBO) can save your small business lots of time and money. It is a cloud-based solution designed to streamline finance functions such as bookkeeping and tax preparation.
Keep in mind that improper accounting can lead to cash flow problems and trouble with the taxman. Choosing the right accounting software can help you avoid such risks.
The best features to expect with QuickBooks Online include invoicing, expense tracking, and tax preparation. These functions can help you enhance cash flow and reduce costs.
Beyond that, you can track your business expenses in real-time. You can quickly review income, optimize tax deductions, and send estimates.
Intuit, the brand behind QuickBooks has a good reputation for safeguarding financial data. Millions of people use Intuit’s apps.
QuickBooks Online’s robust security features include firewalled servers, Verisign scanning, and password-protected login. It also uses the 128-bit SSL encryption technology popularly used by top banks.
QuickBooks Online is reportedly great for large enterprises. However, it also gives access to subscription levels that fit small businesses, such as sole proprietorships.
If money is a problem, you are in luck. QuickBooks Online has a free trial plan that runs for a whole month. After that, you can access its premium features for just $15/month.
Beyond thoughtful pricing, here are more reasons to consider QuickBooks online for your business.
As a cloud-based solution, QBO allows you to access your finances on the go. It can support multiple users at any time of day. It’s good for remote working.
Perhaps unsurprisingly, QBO’s user interface is quite intuitive. Anyone can quickly learn to use it, even if they are not accountants. And another thing, the app provides useful tutorials for beginners.
The software elevates automation in the process of invoicing. Put it this way: it organizes transactions and helps speed up bank account reconciliation, inventory management, and expense tracking. It makes bookkeeping an easy task.
Despite the above advantages, there are a few drawbacks to expect with QuickBooks Online:
It goes without saying that you need a stable internet connection to enjoy all of QBO’s features and benefits. Entrepreneurs with slow internet connectivity may be disadvantaged.
Reports and other features that boost QBO's capability have limited customization compared to desktop versions, making it unsuitable for some organizations.
The accounting software has four pricing plans
$15/Month: The Simple plan carries basic features such as invoicing, reporting, expense tracking, and tax preparation.
$42.50/Month: The “Plus” plan gives you all the above, plus project planning and the ability to share the account with five users.
$100/Month: The “Advanced” plan gives you all the features of the Plus plan, business intelligence features, and the ability to collaborate with 25 users.
Even though QuickBooks has issues such as limited customization, it continues to be the most preferred accounting software for many small business owners. This software is user-friendly, cheap, safe, and designed to maximize tax savings.
QuickBooks Online (QBO) can save your small business lots of time and money. It is a cloud-based solution designed to streamline finance functions such as bookkeeping and tax preparation.
Keep in mind that improper accounting can lead to cash flow problems and trouble with the taxman. Choosing the right accounting software can help you avoid such risks.
The best features to expect with QuickBooks Online include invoicing, expense tracking, and tax preparation. These functions can help you enhance cash flow and reduce costs.
Beyond that, you can track your business expenses in real-time. You can quickly review income, optimize tax deductions, and send estimates.
Intuit, the brand behind QuickBooks has a good reputation for safeguarding financial data. Millions of people use Intuit’s apps.
QuickBooks Online’s robust security features include firewalled servers, Verisign scanning, and password-protected login. It also uses the 128-bit SSL encryption technology popularly used by top banks.
QuickBooks Online is reportedly great for large enterprises. However, it also gives access to subscription levels that fit small businesses, such as sole proprietorships.
If money is a problem, you are in luck. QuickBooks Online has a free trial plan that runs for a whole month. After that, you can access its premium features for just $15/month.
Beyond thoughtful pricing, here are more reasons to consider QuickBooks online for your business.
As a cloud-based solution, QBO allows you to access your finances on the go. It can support multiple users at any time of day. It’s good for remote working.
Perhaps unsurprisingly, QBO’s user interface is quite intuitive. Anyone can quickly learn to use it, even if they are not accountants. And another thing, the app provides useful tutorials for beginners.
The software elevates automation in the process of invoicing. Put it this way: it organizes transactions and helps speed up bank account reconciliation, inventory management, and expense tracking. It makes bookkeeping an easy task.
Despite the above advantages, there are a few drawbacks to expect with QuickBooks Online:
It goes without saying that you need a stable internet connection to enjoy all of QBO’s features and benefits. Entrepreneurs with slow internet connectivity may be disadvantaged.
Reports and other features that boost QBO's capability have limited customization compared to desktop versions, making it unsuitable for some organizations.
The accounting software has four pricing plans
$15/Month: The Simple plan carries basic features such as invoicing, reporting, expense tracking, and tax preparation.
$42.50/Month: The “Plus” plan gives you all the above, plus project planning and the ability to share the account with five users.
$100/Month: The “Advanced” plan gives you all the features of the Plus plan, business intelligence features, and the ability to collaborate with 25 users.
Even though QuickBooks has issues such as limited customization, it continues to be the most preferred accounting software for many small business owners. This software is user-friendly, cheap, safe, and designed to maximize tax savings.
