What Version of Quickbooks Should I Get for My Scaling Business
For over twenty years, Intuit’s Quickbooks has been a staple in the bookkeeping of small to medium-sized businesses. With over 4.3 million users and counting, it has become an essential aspect in the management of many a person’s finances. As your business grows, however, it might be time to consider Quickbooks’ other options.
In this article, we are going to talk about Quickbooks’ various offerings as well as the benefits each one offers.
The different desktop plans
There are three desktop plans you can choose from: Desktop Pro, Desktop Premier, and Desktop Enterprise.
Desktop Pro features a user-friendly interface that has tracking tools that allow you to monitor the performance of your business. It also allows you to manage up to 1099 contractors. Buying the license allows you to install the software on up to three computers.
Desktop Premier includes features that allow you to forecast your cash flow, remind customers when payments are due, and help you manage your inventory in addition to the features boasted by the Desktop Pro. The license permits installation on up to five computers.
Desktop Enterprise includes all the aforementioned features, but now includes inventory barcode scanning, advanced access options, and tax filing preparation. The license also allows you to install it on a whopping 30 computers with varying levels of access.
Quickbooks
The difference between the desktop and the online version of this software is that the desktop version is bought with a one time fee. The online version on the other hand uses a cloud-based system that requires a monthly subscription instead. Currently, there are four online price plans, all of which offer a three-day free trial for those who are interested.
Here are these plans:
Simple Start allows you to track the income and expenses of your business. It also lets you create and send customized invoices, manage estimates, and track miles. Another major perk is that these features can be connected to your bank account.
Essentials includes all those previous features, adding bill payment and management as an option. It can also be used to create instant sales reports.
Plus is a better option for medium-sized businesses, as they include inventory tracking. It also allows you to manage up to 1099 contractors connected to your business.
Self Employed can track mileage, allows invoicing, and keeps your business and personal bank accounts separate while calculating your estimated quarterly tax deductions. It also helps maximize your Schedule C deductions, making the filling out of your tax forms a much easier process.
Final thoughts
The best version for you all depends on the needs and scale of your business, but remember that all of these options offer trials for you to try out the product before making a financial commitment. The online options have three-day trials, while the desktop options have 30-day trials. While it is important to have plenty of options, it is just as important to make sure you are paying only for what you need.
Should the needs of your business do change, consider upgrading your plan in order to catch up with your growing operations.
If you still need help with QuickBooks, send us at Totally Booked a message. As New York-based financial experts, we have the expertise to help you get your finances in order and your business positioned for success!