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Is QuickBooks worth it for small businesses?
QuickBooks has been an industry standard software ever since the advent of accounting software in the accounting and finance industry. It has streamlined the needs of businesses of all types. QuickBooks definitely provides services and benefits for small businesses. However, as QuickBooks offers solutions for your business’s accounting needs, it also comes with a hefty price tag. It is essential to consider whether your businesses will benefit from QuickBooks’ services, from price to performance comparison. It all depends upon the personal criteria of a small business. Let’s find the answer to the question of whether QuickBooks is worth it for small businesses.
Understanding the Need for QuickBooks for Small Businesses
It is important to note that QuickBooks provides a range of services for small businesses. This is further categorized according to whether your needs are self-employed or QuickBooks Desktop which is for small businesses. The QuickBooks self employed version is for individuals like free lancers or sole proprietorship businesses that incorporate a lot of finances on an individual basis. The QuickBooks desktop facilitates features for a company like a corporation or a small business.
Moreover, QuickBooks online is better suited for focusing on tracking hours and other invoiced services.
QuickBooks online accounting software for small businesses
For small business owners, both version of QuickBooks offer a variety of services. An accountant at your business can use QuickBooks for tracking income and expense tracking, invoicing, tax reductions and calculations, inventory management, bookkeeper tasks and managing overall workflow as well.
Seamless integration with other tools
One of the better reasons for choosing QuickBooks is its functionality and easy integration with other accounting tools. Furthermore, QuickBooks also has a mobile-friendly app that allows small business accounting employees to scan and upload receipts where necessary. It also provides an exceptional interface that is easy to use. This is beneficial for people who are not familiar with accounting. QuickBooks can be seamlessly integrated with other software, such as customer relationship management software and customer support software.
How QuickBooks contrasts with other business accounting software
QuickBooks is always ranked better than its competitors its detailed feature set, easy to use interface and one of the best and most consistent customer support as compared to other accounting software’s. It is also important to note that some other accounting software’s might some exclusive benefits like Xero or Drake accounting, QuickBooks provides you with a balanced suite of features that are useful for everyone.
QuickBooks cost for small business needs.
It is essential for a small business to consider accounting software that fits their business requirements, including their budget. The subscription costs for different versions of QuickBooks vary, and you can choose a packet that fits your needs. Following are the pricing and subscription segments of QuickBooks discussed in detail:
QuickBooks online brings forth a vast range of pricing options due to the ever growing problems regarding that QuickBooks is not ideal for small business accounting needs because it is costly.
The basic plan of QuickBooks starts at $25 per month. The intermediate plan termed the “Essentials Plan,” costs $50 per month and includes additional features like managing expenses, time tracking, etc. The premium version of QuickBooks starts at $80 per month and consists of detailed features like inventory management monitoring and project management. The most premium version, termed ” Advanced,” starts at $180 per month and seeks to solve the business needs of large corporations, like comprehensive reporting options, etc.
Furthermore, there are additional costs for QuickBooks services in terms of payroll services and other additional expenses linked with QuickBooks Online. QuickBooks payroll is all about the automatic and accurate calculation of a company’s massive payroll data.
Cost Reflection
As we now know, QuickBooks provides multiple packages for a business’s needs, and there are also additional costs for payrolls and other add-ons as well. Additionally, QuickBooks payments can be made using credit cards and bank debits as well. The subscription methods are based on a monthly payment basis, and adding additional charges can make it a significant expense for small businesses. Therefore, if you are choosing QuickBooks as the accounting solution for your small business needs, it is essential to prioritize the right tools that can help you make the right decision in terms of business growth.
Cons of QuickBooks
Customer Support Problems
Many QuickBooks Users have experienced difficulties related to the QuickBooks customer support department. These issues are associated with QuickBooks’s lack of professional customer support, insufficient resolution, and longer loading times in terms of processing, which can make things complicated for people who want quick-responding accounting software. This is a significant problem for small business owners that use the accounting software for all of their accounting operations. Therefore, investing in the right accounting software is essential without any hiccups. A good way to cater to this problem is by buying the services of a QuickBooks consultant who can provide software solutions and accounting solutions for your business operations.
Conclusion
Therefore, as you can see, QuickBooks is an all-in-one solution for your accounting endeavors and seeks to solve them accurately and in a time-effective way. More importantly, to make sure that your accountants can completely use the flexibility of accountants, you can use the Intuit courses to train your employees. These courses provide online certification, online courses, and a community of trained and aspirant QuickBooks consultants who can provide you with valuable insights. QuickBooks has also created a community where accountants can relate to their problems and cater to queries of other people having similar issues.
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