Wednesday, February 28, 2018

QuickBooks Online Review: Best Small Business Accounting Software

After much research and analysis of accounting software, we recommend Intuit QuickBooks Online as the best accounting software for small businesses in 2018.

Why QuickBooks Online?

Competitively priced
Of all the accounting software we reviewed, QuickBooks Online offers some of the best pricing, with four service tiers designed to accommodate the needs of different business types. The company offers a 30-day free trial, but if you skip it, you can receive a 50 percent discount on your subscription for six months.

The Self-Employed plan is the most basic and costs $10 per month. Designed for independent contractors and freelancers, it allows you to track mileage, income and expenses, create invoices, accept payments and run reports. This is the only plan that can't be upgraded to a higher tier, requiring you instead to set up a new account.

  • The Simple Start plan supports a single user and costs $15 per month. Like the Self-Employed plan, it allows you to track income and expenses, create invoices, accept payments and run reports. However, you can also send estimates, and it tracks sales and sales tax. 
  • The Essentials plan supports multiple users, costs $35 per month, and includes the features of the previous plan, along with bill management and time tracking.
  • The Plus plan costs $50 per month and can help you track inventory and pay independent contractors that use the 1099 form, in addition to the features of the previous plans.

You can add payroll features to the top three tiers for an additional monthly fee, and these tiers are also suitable for nonprofit organizations that need accounting software.

Image Credit: Intuit QuickBooks

Theresa Todman, Managing Partner/CEO of B&M Financial Management Services, LLC . Theresa works with small business owners and entrepreneurs to assist them with financial management and creating organized systems and procedures. She specializes in bookkeeping, accounting, QuickBooks solutions, small business tax issues and consulting.

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