While QuickBooks Online is only 50 cents more than Xero, note that that is the introductory cost for the first three months. QuickBooks Online goes to $30 per month after that and is easily our most expensive option. While QuickBooks Online is very popular among business owners, some have problems with the system. Problems stem from the complexity of making simple fixes, such as miscategorizations or duplicate entries. Support is limited, so users are left reading help articles rather than getting a live person to help. A seasoned small business and technology writer and educator with more than 20 years of experience, Shweta excels in demystifying complex tech tools and concepts for small businesses.

Also, any expense entered can be marked as billable and assigned to a customer. As with time, these billable expenses will be available to add to the customer’s current and noncurrent assets next invoice. Each can help small-to-mid-sized business owners get a handle on their company’s accounting.

The desktop version installed directly on Windows or Mac machines. Let’s get started understanding exactly what QuickBooks is all about and whether it should be the accounting platform powering your small business. Intuit’s Lacerte and ProConnect Tax Online tax preparation software for professional accountants who prepare tax returns for a sales and use tax living integrates with QuickBooks in this way. Cassie is a former deputy editor who collaborated with teams around the world while living in the beautiful hills of Kentucky.

QuickBooks Online Vs. Desktop: What’s The Difference?

This subscription plan is specifically for freelancers and independent contractors and is priced at $10 per month, then $20 per month. Tax time is one of worry and hassle for more reasons than one. QuickBooks makes it easier for your business as it calculates your income and expenses days sales of inventory automatically as they happen.

Seamless accounting software

Both versions offer automatic syncing with your bank so you can categorize transactions. Add payroll to QuickBooks Online starting at $45 per month, or to Desktop starting at $50, plus $2 per employee, per month. When signing up for QuickBooks Online, it only gives options for paying monthly. However, once you’ve signed up, navigate to your account settings, and you can switch to annual billing to save 10%. All Online plans include receipt capture, QuickBooks support and more than 650 app integrations with apps such as PayPal, Square and Shopify.

Find better features for building your business

1. Mistakes made in calculating paychecks can result in steep penalties and unhappy employees.
2. You can even scan and store receipts and track mileage through the mobile app.
3. Banking services provided by our partner, Green Dot Bank, Member FDIC.
4. The best QuickBooks product depends on your needs and the size of your business.

QuickBooks Online has several subscription levels you can choose from. Most of the QuickBooks Online subscription levels also offer multi-currency features. This is useful for businesses working with international customers and suppliers. Since your software for accounting is connected to the cloud, they can use their own login to access reports like the general ledger, balance sheet, or cash flow statement whenever they need.

If you make the switch from Desktop to Online, you can import your data and access your original company file at any time. QuickBooks, on the other hand, is a software dedicated only to accounting. It has features required specifically for accounting like income and expense tracking, payroll management, invoicing and inventory management. Currently, QuickBooks is offering two different specials; you can either try it free for 30 days or sign up and get a 50% discount on your first three months.