QuickBooks Online has recently made some changes to its pricing plans for both new and existing customers. The price change has affected all the QuickBooks Online versions, from Simple Start to QuickBooks Online Advanced.
Let’s take a look at this pricing change along with other recent changes in the QuickBooks ecosystem.
Why is QuickBooks Online Raising its Price?
Over the years, QuickBooks Online has become a solid platform for businesses to manage their finances. Intuit, the maker of QuickBooks, has been adding new features, tools, and reports, that help business owners gain important business data and insights. To continue helping many businesses to thrive and to further boost their service, QuickBooks Online has made some price updates to the platform.
What’s the new QuickBooks Online Pricing?
The table below shows the previous and new pricing plans for each QuickBooks Online plan.
The price changes went into effect according to the schedule below.
- July 1, 2022, for existing client-billed Simple Start and Essentials users
- July 18, 2022, for all new QuickBooks Online users
- August 1, 2022, for existing client-billed subscriptions of Plus and Advanced users
- September 1, 2022, for existing firm-billed QuickBooks subscriptions
What are other significant changes?
In addition to the increased pricing of QuickBooks Online, Intuit has also announced other significant updates.
- Smart Reporting by Fathom was no longer available since June 1
- Updated pricing of QuickBooks Contractor Payments. The monthly price changes from $4 per contractor with direct deposit enabled to a total monthly fee of $15 for up to 20 contractors and then $2 per additional contractor with direct deposit enabled. The pricing change went into effect on May 9 for new users and July 5 for existing subscribers.
- The price of QuickBooks Online Payroll is also changing from $4 to $5 for Payroll Core.
What if I have promotional discounts?
Your discounted price won’t be affected until the time it expires. Currently, Online is offering a $50 discount for three months. If you want to get a better discount, purchase QuickBooks Online from us and we will apply a 40% discount for the first-year subscription as opposed to three months only.
What value do I get from the price change?
Some of the benefits of the price increase include:
- Improved QuickBooks speed by 12%
- Better customer support with reduced wait times
- New QuickBooks Online Advanced integrations, such as Centage, PandaDoc, and Spreadsheet Sync
- New automated recurring payments
- Enhanced migration process and new onboarding guides for moving files from QuickBooks Desktop to Online
- QuickBooks Online for Accountants is equipped with New Books and Transaction Collaboration tool for more efficient collaboration with clients