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QuickBooks Review

QuickBooks is a flagship product of Intuit INC-11th ranking company according to “Fortune 100 Best companies to work for.” QuickBooks has grown today to over 2.2 million users, mainly because it is tailor-made for every business type and needs.

Individual business endeavors are supported by QuickBooks Self-Employed, while small businesses can utilize their flexible business funding platform QuickBooks Capital. There are various other add-ons for specific functions like QuickBooks Live Bookkeeping to make the accountants work easier, or QuickBooks Desktop for those businesses which prefer traditional accounting methods with unmatched accuracy.

More about QuickBooks

In the present industrialized era, businesses are mushrooming everywhere. While setting up a business, arranging of capital, organization, arranging various resources etc. might be relatively easy tasks, but most entrepreneurs struggle to handle their accounts. Even a well experienced accountant might not be able to efficiently manage the nuances of taxes, invoices, payrolls, managing cash inflow, tracking expenses etc. This is where cloud accounting software such as QuickBooks comes to the rescue of businesses- small startups to established firms. They manage all accounting related tasks and more, all at one place which can be accessed from anywhere in the world.

What is Cloud Accounting Software?

Cloud accounting software is online or web-based software which is hosted on a remote server. The users’ data is sent and processed in ‘cloud’ and output is returned back to the users. The main advantage of using cloud accounting software is that they do not need to be downloaded anywhere but can be accessed on any device through internet. This saves time and data required for downloads and updates. Some of these software even come with an integrated mobile app, enhancing accessibility to your accounts anywhere, anytime. Apart from accurate accounting without having to install any software on each of your company’s desktops, most cloud accounting software come with additional features like business analytics and reports, automated payrolls at the same time every month, automated invoices to recurring customers, and prompt tech support whenever needed.
Why QuickBooks?

PROS:

1. Basic Technical Pre-requisites

Since QuickBooks is cloud-based, it does not require any downloading or installation. However there are desktop (for Windows and Mac) and mobile apps (for iOS and Android) to make it more accessible and enable faster performance.

To access the read forms and print checks features, Adobe Reader 11.0 + or Firefox PDF Plugin is required.

2. One size fits ALL!!!

QuickBooks is available in more than 225 countries with country specific features and plans. Thus, it caters to the need of a wide array of businesses- from small and mid-sized to big shots. It allows access to 5 to 25 users depending on the chosen plan, of course apart from the time tracking-only and reports-only users.

3. User friendly Interface

It has an intuitive and easy to use interface with a well designed and organized UI. One can find and access almost everything from the dashboard with the help of Search transaction button, Help button and the AI chat button which can be enabled in the settings

4. Security

You can trust your business safely in the hands of QuickBooks since it uses 128-bit SSL encryption and multi-factor authentication. There are also Physical Safeguards implemented at the Tier 4 data center, and routine testing to double check user security.

5. Online Integrations and Add-Ons

QuickBooks has increased the number of integrations from 280 to over 650 including about 25 payment processing options.

CONS

1. Poor Customer Service
The customer support was experienced to be very slow and unsatisfactory to many customers making them to wait on line for long hours of time.

2. Bugs and Crashes
QuickBooks is said to experience occasional downtimes and outages which forces customers out of their accounts. A few months back it also had a world-wide outage to the customers’ disappointment.

3. Expensive
QuickBooks is one of the most expensive Cloud accounting software adding to which they recently increased their prices. However frequent discounts are given such as the 50% off running for 3 months currently. One must note that they cannot avail the discount if they opt for the 30- day Free Trial. Alternatively you can check out our QuickBooks coupon codes for additional discount benefits.

4. Unauthorized Charges
Several customers had reported that they were charged amounts without their authorization and it takes long time to resolve these issues and get a refund.

QuickBooks Key Features: What makes QuickBooks Best?

Track Income and expenses

Tracking how you spend each penny you earn becomes easier than ever with QuickBooks. Once you connect it with all your bank accounts, credit cards, PayPal, Square etc. QuickBooks imports and categorizes them for you on the basis of custom rules you yourself set. The mobile app gives additional feature of clicking photos of all your receipts and saving, so that they are automatically matched to an existing transaction.

Easily manage income, expenses, and more

Manage and Pay bills

All your bills are organized and maintained at one place so that you never miss any due dates. You can make payments online, even partially, through credit cards, which you can also use to defer payments to control cash flow.

Cash flow Management

QuickBooks unique Cash flow Planner can forecast money-in and money-out for up to 90 days ahead so that you can plan your budget wisely. All the transactions get synced from all your accounts to Dashboard making your business balances available for monitoring, all at one place.

Generate Financial reports

QuickBooks gives you real-time business insights and analytics in the form of customized reports like income statements, balance sheets, cash flow statements etc. to facilitate business decision making. Moreover, reports like Customer Balance Summary and Accounts Receivable Ageing Summary will give you a glance on open invoices and due amounts.

Maximize Tax Deductions

Using QuickBooks can help you with additional tax savings than any traditional accountant. It automatically sorts out all your business expenses into categories so that they are easily accessible for tax. It also presents a Sales Tax Liability Report which can keep you abreast with all taxable and non-taxable sales. It also provides for Quarterly tax calculations in addition to the year-end ones to help you plan accordingly.

Easily manage Projects inventory, invoices at one place

You can send online professional invoices , customized with your logo and colors to your customers within minutes and manage your inventory at once at QuickBooks.

Pay Employees

QuickBooks Payroll feature lets you approve accurate payrolls at any time anywhere. It also comes with a tax penalty protection up to $25,000 in case you make an error and get a payroll tax penalty.

And many more like tracking time, sending estimates, allowing multiple users, Live online Bookkeeping, Tracking inventory etc.

Get Capital

You can also avail small business loans starting from $5,000 to $150,000 with terms from 6-18 months having no origination fees, prepayment penalties or hidden charges.

Accept Payments

QuickBooks offers more payment options like credit cards, debit cards and ACH bank transfers, which makes your payments reach at least 2 times faster and that too with no hidden charges or upfront costs.

Free trial for 30 days

Explore QuickBooks Services & Plans

QuickBooks offers the following Services and Plans:

QuickBooks Plans Pricing

QuickBooks offers a free 30 Day Trial, after which you can select any of the following 4 plans:

Self-Employed Plan

$15/month with all basic features like tracking income & expenses, capturing & organizing receipts, estimating quarterly taxes, invoice and accepting payments, tracking miles and running basic reports with access to only one use.

Simple Start Plan

$17.50/month includes unlimited invoices, Estimates, Expense Tracking, Live Bank Feeds etc. but gives access to only one user.

Plus Plan

$49.50/month offers all features of the Simple Start Plan along with Inventory, Project profitability tracking, Time tracking, Manage and Pay Bills and 5 users.

Advanced Plan

$117.50/month and offers everything in the Plus Plan and additional benefits like Business Insights & Analytics, Batch invoices & expenses, Dedicated account team, on-demand Online Training etc. With customizable access to up to 25 users. Check our coupon code for additional discounts

Simple Start	Plus	Advanced
$17.50/month	$49.50/month	$117.50/month
1 User Track income & expenses Maximize tax deductions Mileage tracking Manage cash flow Unlimited invoice & accept payments Run reports General Send estimates Track sales & sales tax Capture & organize receipts Manage 1099 contractors	Up to 5 User Track income & expenses Maximize tax deductions Mileage tracking Manage cash flow Unlimited invoice & accept payments Comprehensive Run reports Send estimates Track sales & sales tax Capture & organize receipts Manage 1099 contractors Manage & pay bills Track time Track project profitability Track inventory	Up to 25 User Track income & expenses Maximize tax deductions Mileage tracking Manage cash flow Unlimited invoice & accept payments Powerful Run reports Send estimates Track sales & sales tax Capture & organize receipts Manage 1099 contractors Manage & pay bills Track time Track project profitability Track inventory Customize access by role Batch invoices & expenses Business analytics & insights Enhanced custom fields Premium Apps Dedicated account team On-demand online training Automate workflows Restore company data
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QuickBooks Pros & Cons

Pros

Cons

Our Verdict…!!!

QuickBooks is one of the best billing and invoicing software when it comes to planning and organizing all your accounting matters under one umbrella. The large array of integrations and add-ons make it even more reliable and useful. However, one cannot ignore the fact that it is much more expensive as compared to the counterparts and that too with limited number of users. Nevertheless QuickBooks is a viable option if you want a strong, secure and trustable cloud accounting software.