Is QuickBooks Online The Best Bookkeeping Software?
Introduction
The accounting software landscape has changed significantly in the last few years. There are more choices than ever before, and each one offers its own unique mix of features and price points. In this post we'll discuss some of the most popular options out there: QuickBooks Online, Xero, Freshbooks, Wave, Zoho Books and Sage Business Cloud Accounting. We'll compare their respective strengths and weaknesses so you can make an informed decision about which solution is right for your company's accounting needs.
QuickBooks
Are you looking for an accounting software that can help you manage your business? QuickBooks is the most popular accounting software out there, and it has a lot of features. If you're someone who uses Excel to keep track of your finances, then QuickBooks may be just what you need.
QuickBooks is easy to use and comes with many templates so that users don't have to start from scratch when setting up their books. There are also lots of resources available online if users get stuck on any part of their bookkeeping process.
One downside is that QuickBooks isn't cheap; in fact, it's one of the more expensive options available right now! But if you're willing to spend money on something like this then maybe this isn't such a big deal after all? Other downsides include: less flexibility than other solutions; limited support options; no cloud backup option (you'll need an external hard drive).
Xero
You may have heard about Xero from your friends, but what exactly is it? Xero is a cloud accounting software that helps small businesses manage their finances and grow their business. It's easy to use, and it is available on the web and on mobile devices. With this software, you can keep track of your receipts as well as invoices for all your clients, making sure that all transactions are up-to-date in real time so nothing falls through the cracks or gets lost in translation!
Freshbooks
FreshBooks is a cloud-based accounting software designed for small businesses. It is available as a subscription service with a free trial, and allows you to track time and expenses, send invoices, track payments and more.
Freshbooks' intuitive interface makes it easy to use for bookkeeping beginners or experienced users alike. The software also includes several features that make tracking finances easier than ever before:
Automatic sync between desktop and mobile apps
Real-time notifications when an invoice has been paid or an expense has been submitted for reimbursement
Wave
Wave is a cloud-based accounting software. It is ideal for small businesses, freelancers and independent contractors. Wave offers all the basic features you would expect from an accounting software, including invoicing, time tracking and budgeting. You can also get invoicing and accounting for free.
Wave offers free invoicing.
Look professional.
Create customized invoices that reflect your unique brand.
Send automated reminders.
Apply to enable credit card, bank payments, and Apple Pay directly from your invoices.
Wave also offers free accounting.
Get unlimited income and expense tracking.
Add unlimited partners, collaborators, or accountants.
Know if you should charge clients more just by glancing at your dashboard.
Make unlimited bank and credit card connections.
Access helpful reports like Overdue Invoices & Bills and Profit & Loss.
Zoho Books
Zoho Books is an easy to use and affordable accounting software that's secure, flexible and powerful.
The interface is simple and intuitive, so you can get started right away. And with a free trial, you don't have to pay anything until you're ready! The built-in invoicing feature makes it easy for your clients to pay their bills online too—no more chasing down payments or waiting for checks in the mail. Plus, since Zoho Books has both mobile apps and web access options, there are no limits on where you can work from: whether at home or while traveling on vacation; at the office or out of town at a client meeting.
Here are some cool features that come with Zoho Books
1 User + 1 Accountant
Manage Clients
Manage Invoices (Up to 1,000 per annum)
Client Portal
Online/Offline Payments
Automate Payment Reminders
Multi-lingual Invoicing
Credit Notes
Recurring Invoices
Expenses & Mileage Tracking
Add Multiple Bank and Credit Card Accounts
Import Bank and Credit Card Statements
Bank Rules & Reconciliation
Chart of Accounts & Sub-accounts
Manual Journals
Reports
Invoice Customization
Manage 1099 Contractors
Payment Gateways
Schedule Reports
Sage Business Cloud Accounting
Sage Business Cloud Accounting is perfect for accounting and bookkeeping needs. Sage Business Cloud Accounting can help you manage your business finances. It’s a comprehensive accounting solution with features including invoicing, accounts payable, accounts receivable, inventory management, payroll services and much more!
Sage offers 2 plans: Sage Accounting Start and Sage Accounting. Here are some of the features you can find with Sage.
Entry-level accounting software. Ideal for self-employed and micro-businesses.
Create and send invoices
Track what you're owed
Automatic bank reconciliation
Automatically snap and post receipts
Supports unlimited users
Send quotes and estimates
Forecast cash flow
Manage purchase invoices
Can I access my accounting software anywhere?
With QuickBooks Online, you can access your accounting software from anywhere. You can use a desktop or laptop computer, but you don't have to. You can also use mobile devices like smartphones and tablets—even the ones with small screens.
Finally, if all that isn't enough for you, there's still more! With QuickBooks Online, you can even access your accounting software in the cloud using a browser—no local installation required!
What software do accountants use?
Accountants, as you probably know, use different software depending on their business.
Quickbooks is the most popular accounting software for small businesses. It’s also used by freelancers and consultants because it’s very easy to set up and use. Xero is another popular option for small businesses because it combines invoicing with bookkeeping all in one place, but it can be difficult to learn if you’re new to this type of software. Sage Business Cloud Accounting is used by accountants who want something more robust than Quickbooks but still need an easy-to-use solution that has some automation built in (such as auto-categorization)
Is it scalable?
The number of users you can have on your QuickBooks Online account depends on your subscription plan. If you're a solo entrepreneur, start with the Simple plan and upgrade to Essentials or Plus as your business grows. If you're part of a team and need more than one billing address attached to your account, consider upgrading at least once or twice before getting right up against the limits.
We have seen small, start-up entrepreneurs use QuickBooks online, and we have seen large, 100 employees, $10 million annual revenue use QuickBooks online. So YES! It is scalable.
Does it have the features I need?
Your first step is to see what kind of accounting software you need. You might be surprised to find that QuickBooks Online does not offer all the features you need.
Is it easy to use? If it doesn't offer a simple interface, you'll have to spend time learning how to use it which can take away from the time you should be spending on growing your business.
Does it have the features I need? If your bookkeeping software doesn't have everything under control, then it's not going to help your business grow at all.
Is it scalable? There are times when a lot more than one person will need access to this information or when someone needs access from multiple locations at once (like an accountant working remotely).
Is secure? Your financial data should always be kept safe and secure for both ethical and legal reasons—and if there are breaches in security, then this could lead to fines from state regulators or even lawsuits from those affected!
Does customer service stand behind their product? A company with good customer service will go above and beyond what's required by law in order to keep their customers satisfied; they'll also make sure that any bugs that come up get fixed quickly so they don't affect other clients either financially or emotionally (by keeping them up-to-date with current events).
How much does it cost?
As you can see, QuickBooks Online is a pretty versatile piece of software. It's not the cheapest option out there, but it does offer a lot for the price. You can get started with just one user for $15 per month or go all out and add payroll services and up to five users for $150 per month. If that sounds too rich for your blood, don't worry: there are also three other tiers between those two extremes ($30-$60 per month).
QuickBooks Online doesn't come cheap—but if you're looking for an online accounting solution that can handle most small business needs without breaking the bank, then this might be exactly what you're looking for!
Conclusion
The best accounting software for your business depends on what your needs are. Do you need something that is easy to use, but not too expensive? Or do you want something that has all the bells and whistles? The answer is different for every company—there’s no one-size-fits-all solution when it comes to bookkeeping software.
