In this day and age, 82% of small businesses are taking advantage of cloud-based or on-premise accounting software. So if you want a more efficient accounting system, this Quickbooks review will help you with your decision-making. Here’s all the details that you need to know about the end-to-end accounting software.
Quickbooks Software Overview
Intuit QuickBooks Enterprise provides the necessary tools to make your accounting easier. It has a user-friendly interface that lets users organize books, track sales, manage inventory, and run payrolls. Quickbooks is more than your average software as it aims to be a one-stop solution for all business management needs.
Most customers describe Quickbooks as a “great account software” for small companies. Overall, the software received a 4-star review from customers across different platforms. Its features include a general ledger, invoice customization, payment processing, in-depth reporting, and analytics.
Quickbooks Review: Pros
Easy to Use
You don’t have to be a tech-savvy wonder to use Quickbooks. It has a relatively easy-to-use interface with organized features. The software keeps everything “in the right place” so you can access necessary data whenever you need it. It also provides essential webinars, documentation, and videos to help train users.
Great for Small Business
Quickbooks is specially designed with small businesses in mind. It provides powerful business management tools to help small businesses grow.
Quickbooks lets users create invoices and receipts based on real-time data. It helps owners easily keep track of all payments and bills for each transaction.
Insightful Accounting Reports
Access business reports on Quickbooks in a matter of seconds. You can see how your business is growing by a range of information provided by the software. It also allows users to customize what to show in the report so you can see the details that matter most in your company.
By fully utilizing Quickbooks’ insights, you can properly analyze and make the correct business decision. It organizes relevant data to help you grasp a bigger picture of your business. Specifically, it generates an accurate statement of your profits and loss over a specific period in time.
Available for Multiple Device Usage
Verified Quickbooks users mostly commend the software as they can access it through any convenient devices. Users can easily access the software via desktop or any mobile.
As it primarily caters to small businesses, Quickbooks has an affordable pricing plan that starts as low as $16 per month.
Essential For Day-to-Day Operations
As it aims to be a one-stop-shop, the software has the essential tools for day-to-day business operation. In addition, it provides convenience in payroll services, inventory tracking, and combining all purchases and financing accounts.
Quickbooks Review: Cons
Not for Large Enterprises
If you’re not a small business, Quickbooks’ features can be seen as lacking. Overall, the accounting software’s target market is small business growth. So, if the company is successfully grown into a larger enterprise, there can be instances where the software is seen as “lacking.”
Lack of Business-specific Features
Some users mostly commented on the lack of industry-specific features. For example, Quickbooks is limited to accounting and business management tools, so it doesn’t provide eCommerce solutions.
Limited Users Per Plan
Quickbooks has a limited number of users per plan. So if you’re subscribed to the cheapest monthly plan, it only allows one user account plus access for your accountant.
Inventory Management Issues
Quickbooks tends to be problematic whenever addressing inventory management concerns. So if inventory management is crucial for your small business, this might be a disadvantage for you. However, as a business grows, naturally, the volume will slowly start to increase. So it’s better if you source an appropriate software designed for robust inventory management.
Can’t Highlight Specific Entries
One of the disadvantages of using Quickbooks’ general ledger, it’s hard going through a large file. In addition, some users pointed out that it’s difficult going line by line when using the software.
Quickbooks Review: Price per plan
Quickbooks offers a 30-day free trial to help users discern if the software is the perfect fit for their business.
Simple Start Plan
The Simple Start Plan is worth $16 per month. It includes tracking your businesses’ expenses, sales and profits. You can also create and send unlimited invoices to clients. Also, track and manage your business’ sales tax without any hassle. The plan works on PC, Mac, or mobile and can be accessed by one user, plus your accounting staff.
Quickbooks’ Essential Plan costs $25 per month. It includes all features available in the Simple Start Plan. Other than that, you can securely manage and pay all your bills through the software. It also gives you the convenience of transacting in multiple currencies available and generates a sales quotation. This plan can be accessed by three users, plus your accounting staff.
The Plus Plan will help grow your business at a price of $34 per month. It includes all features from the Essentials Plan. In the Plus Plan, you can track your business inventory, purchase orders and closely track your project’s profitability. The account can be accessed by five users, plus your accounting staff.
To help you decide which accounting software is the best for your business, here’s a small list of alternatives. For a more extensive guide in choosing accounting software for your small business, read more here.
Wave is coined as the “award-winning software” specially designed for entrepreneurs.
#2 Zoho Books
Zoho Books assist users in managing finances and automate the workflow of their business.
FreshBooks is an excellent solution if you want to create a recurring invoice for your business.
Workday prides its software as an “all-in-one system” used for closing deals, accounting, and analyzing business.
Xero is a cloud-based software that allows users to connect to your bank account conveniently. It also offers your accountant a better way to do work.
Quickbooks is indeed one of the best accounting software that’s best suited for growing small businesses. It’s perfect if you want to use an all-in-one business management software that offers a solution for your accounting needs. Besides, Quickbooks is shortlisted as one of the top-performing accounting software for 2021.