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QuickBooks Online is a powerful accounting tool that caters to businesses of all sizes. For users currently on the Simple Start or Essentials plans, you might find that your growing business requires more advanced features to keep up with your financial management needs. Upgrading to QuickBooks Online Plus can provide you with enhanced capabilities, ensuring that your business continues to run smoothly and efficiently.
Let’s explore the top ten reasons why upgrading to QuickBooks Online Plus is a smart move for your business.
If you are using QuickBooks Online Simple Start or Essentials and find that you need more robust features to manage your business, upgrading to Plus could be the right move. The Plus plan is designed to offer additional benefits and tools that cater to more complex business needs.
Here are ten compelling reasons to consider making the switch.
QuickBooks Online Plus provides advanced reporting capabilities that are not available in Simple Start or Essentials. With Plus, you can create detailed, customizable reports that give you deeper insights into your business performance. This includes profit and loss reports by class, location, and customer, as well as inventory and project profitability reports. These advanced reports help you make more informed decisions and better understand your financial health.
Moreover, the ability to tailor these reports to your specific needs means you can track key performance indicators that matter most to your business. This level of detailed reporting is crucial for businesses looking to scale and requires a deeper understanding of their financial data.
One of the standout features of QuickBooks Online Plus is project tracking. This allows you to track income, expenses, and profitability for individual projects. Whether you’re managing multiple projects for different clients or simply want to keep track of various aspects of a single project, this feature is invaluable.
With project tracking, you can ensure that all project-related expenses are accurately accounted for, helping you to stay on budget and identify any areas where you might be overspending. This feature also helps you provide more accurate quotes and invoices to your clients, improving overall project management and client satisfaction.
If your business involves selling products, inventory management is a critical aspect of your operations. QuickBooks Online Plus offers robust inventory tracking features that are not available in the Simple Start or Essentials plans. You can track inventory levels, set reorder points, and manage vendors and purchase orders all within QuickBooks.
This level of inventory management helps you avoid stockouts and overstock situations, ensuring that you always have the right amount of product on hand. It also allows you to keep track of inventory costs and profitability, providing a clearer picture of your overall business performance.
Budgeting is an essential tool for any business, and QuickBooks Online Plus makes it easier to create and manage detailed budgets. With Plus, you can create budgets by class, location, and customer, allowing you to monitor financial performance against your goals. This helps you to identify any variances and take corrective action as needed.
Having a robust budgeting tool at your disposal means you can plan for future expenses and revenues more accurately. This proactive approach to financial management helps you stay on track to meet your business goals and make informed decisions about where to allocate resources.
Class tracking is a feature that allows you to categorize income and expenses by different segments of your business. This is particularly useful for businesses that want to track the profitability of different departments, locations, or product lines. QuickBooks Online Plus allows you to set up and track classes, giving you a clearer view of how different areas of your business are performing.
By utilizing class tracking, you can identify which segments of your business are most profitable and which may need more attention. This level of detail helps you make strategic decisions to improve overall business performance.
Similar to class tracking, location tracking allows you to categorize transactions by location. This is ideal for businesses with multiple locations or branches, as it enables you to see how each location is performing individually. QuickBooks Online Plus provides the ability to track and report on income and expenses by location, giving you valuable insights into your business operations.
Location tracking helps you manage and optimize the performance of each location, ensuring that all branches are contributing positively to the overall success of your business. It also helps you identify any locations that may need additional support or resources.
For businesses that bill clients by the hour, time tracking is a crucial feature. QuickBooks Online Plus includes built-in time tracking tools that allow employees to log their hours directly into QuickBooks. This ensures that all billable hours are accurately recorded and invoiced, helping you to maximize revenue and improve billing accuracy.
Time tracking also provides valuable insights into how time is being spent across your business, allowing you to identify any inefficiencies and make improvements. This feature is particularly beneficial for service-based businesses that need to track time spent on client projects.
As your business grows, you may find that more people need access to your accounting software. QuickBooks Online Plus allows you to add up to five users, compared to the single user in Simple Start and the three users in Essentials. This increased user capacity ensures that all key team members have access to the financial information they need to do their jobs effectively.
Having multiple users also allows for better collaboration and division of responsibilities within your accounting processes. You can assign different roles and permissions to each user, ensuring that everyone has the appropriate level of access to sensitive financial data.
QuickBooks Online Plus provides access to a wider range of third-party apps and integrations compared to the lower-tier plans. These apps can help you automate various aspects of your business, from payroll and inventory management to customer relationship management and e-commerce.
Integrating these apps with QuickBooks Online Plus can save you time and reduce the risk of errors by automating repetitive tasks. This allows you to focus on more strategic activities that drive business growth.
When you upgrade to QuickBooks Online Plus, you gain access to priority customer support. This means that any issues or questions you have will be addressed more quickly, ensuring that you can get back to running your business with minimal disruption.
Priority support is especially valuable for growing businesses that rely heavily on their accounting software to manage daily operations. Having quick access to expert assistance can help you resolve any problems promptly and keep your business running smoothly.
For more information, discover the 16 most important features of QuickBooks Online Plus.
If you’re ready to experience the benefits of QuickBooks Online Plus, contact us at Paygration. We offer exclusive discounts, free consultations, and ongoing support to ensure that your transition to QuickBooks Online Plus is seamless. Our team of experts can help you set up and optimize your QuickBooks account, allowing you to take full advantage of the advanced features available in the Plus plan.
To learn more and get started, you can contact Paygration at 866-949-7267 or click the link below.
Just register for the free trial below and we will send you everything you need to evaluate QuickBooks Online including 30-day access, the full 76-page QuickBooks Online Guide (details everything that you can do in the software) plus the video training library. Free end-to-end consultation and support are included so if you need any help along the way, just let us know!
