Many small to mid-sized business owners decide between QuickBooks Online Plus and Advanced to simplify their accounting tasks. These two programs are both powerful accounting software, but there are notable differences that are worth noting. For instance, QuickBooks Online Plus is designed with small businesses in mind, while Advanced is for those that need more features, capabilities, and automation.
This article compares QuickBooks Online Plus and Advanced to see which software is better for you in 2023.
What is QuickBooks Online Plus?
QuickBooks Online Plus is a substantial upgrade compared to the first two entry-level plans, Simple Start and Essentials. It offers features such as the ability to track income and expenses, create and send invoices, manage and pay bills, track inventory, and generate financial reports.
It also includes additional features like project profitability tracking, budgeting, and preparing 1099s for contractors. As a cloud-based software, Plus allows you to access your financial data from anywhere, collaborate with your team members, and integrate it with other software programs to streamline their processes.
When should I use QuickBooks Online Plus?
Suppose you only need access to up to five users and require features like inventory management, multi-location tracking, budget forecasting, and project profitability tracking. QuickBooks Online Plus might be enough. It offers most of the core features of QuickBooks Online, but as your business grows, you might eventually outgrow Plus and will need more users and enhanced tools and automation features. This is where you will need to upgrade to QuickBooks Online Advanced.
What is QuickBooks Online Advanced?
QuickBooks Online Advanced is the most powerful cloud-based accounting solution today. It offers more features for improved customization, deeper insights, and premium support to help your business thrive and succeed.
Advantages of QuickBooks Advanced Vs. Plus
- User Limits: QuickBooks Online Plus allows up to five users, while QuickBooks Online Advanced lets you add up to 25 users. This makes Advanced more suitable for larger businesses with multiple users who need access to the software.
- Customization: Advanced offers more customization features than QuickBooks Online Plus, such as custom fields and custom user permissions. This can be useful for businesses with specific needs and require more flexibility in their software use.
- Automation: Advanced offers more automation tools, such as workflow automation and batch transaction entry. These features can help businesses save time and reduce the risk of errors. For instance, it allows you to send invoices to multiple customers in one go (batch invoicing in QuickBooks Online Advanced). This eliminates the need to complete forms individually, which can be time-consuming.
- Reporting: Advanced offers more advanced reporting features than QuickBooks Online Plus, such as custom reporting and industry-specific reports. This can be helpful for businesses that need more detailed insights into their finances.
- Integration with Best-In-Class Apps: Advanced integrates with a wide range of premium third-party apps and services to help you streamline your business processes even further and improve your productivity. For example, it integrates with Bill.com to help you gain more control over your accounts payable (A/P) process by creating customized workflows for faster bill pay approvals. Learn the best-in-class apps that integrate with QuickBooks Advanced.
- Dedicated Success Manager: With Advanced, you’ll get access to a dedicated success manager who will work closely with you to help you accomplish your accounting tasks and achieve your business goals.
- Training for Staff: You’ll also have complimentary access to free on-demand, online training (valued at $3,000) to help you and your team get a good grasp of the QuickBooks features and how to leverage them for your business success.
Plus might be enough for small businesses with a few users, but it’s not scalable and may not grow with your business. If you’re looking for a more robust accounting solution that can provide the best value for your business, QuickBooks Online Advanced might be the right choice.