Choosing the correct version of QuickBooks Online for your business is a pivotal decision that can significantly influence your financial management efficiency, scalability, and overall success. This choice becomes particularly crucial when transitioning from QuickBooks Desktop or selecting your first accounting software. The array of QuickBooks Online versions—Simple Start, Essentials, Plus, and Advanced—offers a spectrum of functionalities tailored to various business sizes and needs.
Here, we delve into each version in detail, highlighting the considerations for migrating from Desktop to Online and offering insights to ensure you make the most informed decision for your business.
Detailed Overview of QuickBooks Online Versions
Understanding the capabilities and limitations of each QuickBooks Online version will guide you in choosing the one that best fits your business’s unique requirements.
QuickBooks Online Simple Start: For the Solo Entrepreneur
Simple Start is the entry-level version designed for very small businesses or sole proprietors who need to manage basic accounting functions. It supports a single user and offers features like income and expense tracking, invoice creation, and receipt organization. While it covers the fundamentals, its capabilities are too limited for businesses with any more than one person or very basic accounting needs.
QuickBooks Online Essentials: The Small Business Starter
Building upon Simple Start, Essentials offers additional capabilities such as bill management and time tracking. It supports up to three users and introduces the ability to manage bills and track time, making it a more suitable option for small businesses that require multi-user access and more than just basic accounting features. Still suited for a very small business, this can be an entry point for some, but most businesses find Online Plus a better starting point, especially for the small difference in price between the two.
Additionally, many people moving to QuickBooks Online are coming from desktop Pro and Premier which is a more robust software. Most of these businesses will find that Essentials is lacking in comparison and doesn’t give them the features that they have been used to. This is the main reason that Plus is the starting point for most businesses choosing QuickBooks Online.
QuickBooks Online Plus: The Growth-Focused Solution
For small to medium-sized businesses ready to take their financial management to the next level, Plus offers enhanced functionalities, including inventory tracking, project profitability analysis, and the ability to organize transactions by class or location. Supporting up to five users, Plus is ideal for businesses that need detailed financial oversight and are looking to optimize their operations for growth. As mentioned above, this is the bare minimum standard for most businesses with the ones looking for advanced features, functionality, and integrations choosing QuickBooks Online Advanced.
Learn the differences between QuickBooks Online Essentials and Plus.
QuickBooks Online Advanced: The Comprehensive Powerhouse
Advanced is the most feature-rich version, designed for growing businesses that require advanced accounting capabilities. It supports up to 25 users and offers extensive functionalities, including:
- Automated Fixed Asset Tracking: Simplify the management of fixed assets with automated tracking and reporting.
- Excel Data Syncing: Effortlessly sync data with Excel for enhanced reporting and analysis.
- Advanced Employee Expense Tracking: Monitor and manage employee expenses with greater control and efficiency.
- Enhanced User Permissions: Tailor access and permissions with custom user roles, ensuring data security and operational integrity.
- Workflow Automation: Automate complex workflows to streamline operations and reduce manual tasks.
- Revenue Recognition: Accurately recognize and report revenue, adhering to accounting standards.
- Built-in Training Resources: Access comprehensive training materials to maximize the utilization of QuickBooks Online.
- Data Restoration: Unique to Advanced, this feature allows you to restore your company data in case of loss or errors and is the only version in the QuickBooks Online lineup that allows for this. If you are currently a QuickBooks Desktop user, this is many times a decision-maker for Advanced because desktop users are used to having this ability and don’t feel comfortable not having this option as a “safeguard” for their data.
See our comparison of QuickBooks Online Plus and Advanced.
Transitioning with Confidence
The move to QuickBooks Online should be strategic and informed. Concerns such as feature compatibility, user access needs, and potential scalability should be at the forefront of this decision. QuickBooks Online Advanced offers a robust solution that addresses these concerns by providing comprehensive features and support for business growth.
How We Can Help
We understand the importance of this decision and know that making the right decision is not always easy and simple. Because of that, are committed to offering resources that make the transition as smooth as possible. Our offerings include:
- Free 30-Day Live Demo: Experience the capabilities of QuickBooks Online firsthand.
- Over 100 Free Training Videos: Ease the transition and enhance software proficiency.
- Free Lifetime Consultation and Data Conversion Assistance: Ensure a seamless migration from QuickBooks Desktop to Online.
- Exclusive Discounts and Unlimited Support: Benefit from our expertise and support throughout your QuickBooks Online journey.
Make Your Move to QuickBooks Online
The right version of QuickBooks Online can revolutionize your business’s financial management. By providing a detailed comparison of each version and understanding the unique needs of your business, we aim to empower you with the knowledge to make the best choice.
To explore more about how QuickBooks Online can fit your business and to access our exclusive resources, contact our experts at 866-949-7267.
