Known as the industry standard for small-business accounting software, Intuit’s QuickBooks Online is a solid choice for a variety of businesses, especially those that plan to regularly work with bookkeepers or accountants. Its four plans and add-on services offer a high level of functionality, flexibility and scalability.
Robust feature set
There’s a reason that QuickBooks Online is the industry standard for small-business accounting software. Here are a few features that stand out:
Record-keeping and reporting: It’s easy to keep thorough, detailed records with QuickBooks Online. When you’re adding an expense, for example, you have the option of adding reference numbers, permit numbers, attachments and memos. You can also split the expense into multiple categories or items.
You aren’t required to fill out every field in an expense or income entry, but the more detailed your records are, the more useful certain reports can be. For example, with QuickBooks Online Plus and Advanced, you can track inventory and do job costing — that is, you can figure out how much you spent to complete a certain project.
Even without those higher-level plans, you can create custom tags and run reports based on where you make and spend money. These features can help you organize your finances and provide insights such as cost-cutting opportunities or sales trends that you can use to improve and grow your business.
Inventory management: With QuickBooks Online Plus and Advanced, you can track inventory and cost of goods, and set up low stock alerts. You can also create purchase orders, manage vendors and sync your inventory with third-party platforms like Amazon and Shopify.
Competitors like Xero and FreshBooks offer basic inventory tracking for less, but it isn’t as advanced.
Hundreds of app integrations
QuickBooks Online gives you access to an impressive marketplace of over 650 apps — including third-party tools as well as QuickBooks add-ons.
With QuickBooks Time (formerly TSheets), for example, you’ll be able to track employee time directly inside QuickBooks and approve timesheets. Other apps can help you prepare for taxes, get business funding, run payroll, manage customer accounts and generate various financial reports and insights.
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