QuickBooks Online Plus is a robust cloud-based accounting software solution developed by Intuit, tailored for small and medium-sized businesses. Positioned between the Essentials and Advanced versions, QuickBooks Online Plus offers a comprehensive set of features designed to meet the needs of growing businesses that require more functionality than the Essentials version but may not need the advanced capabilities of the Advanced version.
In this article, we’ll explore what sets QuickBooks Online Plus apart and when it’s the better choice over upgrading to the Advanced version.
QuickBooks Online Plus Overview
QuickBooks Online Plus provides businesses with a suite of tools to manage their finances, invoicing, expenses, and more, all accessible from any internet-connected device. With features like advanced reporting, inventory tracking, and project profitability analysis, QuickBooks Online Plus empowers businesses to make informed decisions, streamline operations, and drive growth. Plus, it offers integration with hundreds of third-party apps, providing businesses with additional functionality and flexibility. Now, let’s delve into instances where QuickBooks Online Plus is more than enough and suitable compared to upgrading to the Advanced version.
Up to Five Users
One instance where QuickBooks Online Plus is sufficient is when a business requires access for up to five users. While QuickBooks Online Advanced offers access for up to 25 users, many small to medium-sized businesses may not need that level of access. QuickBooks Online Plus provides ample user access for most growing businesses, allowing up to five users to collaborate and work simultaneously in the software. This makes it ideal for small teams or businesses with a few employees who need access to the accounting system without the need for extensive user permissions.
Cost Considerations
For many businesses, cost is a significant factor when choosing accounting software. QuickBooks Online Plus offers a more affordable option compared to QuickBooks Online Advanced, making it suitable for businesses with budget constraints. While QuickBooks Online Advanced provides additional features and capabilities, businesses that do not require those advanced features may find QuickBooks Online Plus to be a cost-effective solution that meets their needs.
Customizable User Permissions
QuickBooks Online Plus offers customizable user permissions that allow businesses to control access to sensitive financial information. Although QuickBooks Online Advanced provides more advanced user permissions and role customization, QuickBooks Online Plus provides sufficient control for many businesses.
With Plus, businesses can assign specific roles and permissions to users, restricting access to certain areas of the software. This feature is beneficial for maintaining data security and compliance, especially in industries with regulatory requirements, without the need for the extensive user permission options offered in the Advanced version.
Project Profitability Tracking
For businesses that need to track project profitability, QuickBooks Online Plus offers sufficient functionality. While QuickBooks Online Advanced provides more advanced project management features, such as custom fields and enhanced project reporting, QuickBooks Online Plus still allows businesses to track income and expenses by project.
Plus enables businesses to assign transactions to specific projects, track project costs and revenues, and generate basic project reports. This is suitable for businesses that need project tracking capabilities but may not require the extensive features offered by the Advanced version.
Advanced Reporting
QuickBooks Online Plus offers advanced reporting capabilities that are sufficient for many businesses. While QuickBooks Online Advanced provides more customizable reporting options and industry-specific templates, QuickBooks Online Plus still offers a wide range of standard reports and customizable templates.
Plus enables businesses to generate reports such as profit and loss, balance sheet, and cash flow statement, as well as customize reports to meet specific needs. This makes it suitable for businesses that require robust reporting capabilities but may not need the extensive customization options offered by the Advanced version.
Inventory Management
QuickBooks Online Plus allows businesses to track quantities and values of inventory items. Plus enables businesses to manage inventory levels, track stock movements, and create purchase orders. This makes it suitable for businesses with basic inventory needs that do not require the advanced inventory features offered by the Advanced version.
Learn more about inventory management in QuickBooks Online Plus and Advanced.
Budgeting
QuickBooks Online Plus includes budgeting tools that are sufficient for many businesses. While QuickBooks Online Advanced offers more advanced budgeting features and forecasting capabilities, QuickBooks Online Plus allows businesses to create, track, and compare budgets against actual performance. Plus enables businesses to set up budgets for income and expenses, track budget vs. actuals, and make adjustments as needed. This makes it suitable for businesses that require basic budgeting functionality without the need for the advanced features offered by the Advanced version.
Integration with Third-Party Apps
QuickBooks Online Plus offers integration with a wide range of third-party apps, providing businesses with additional functionality and flexibility. While QuickBooks Online Advanced offers more extensive integration options and custom app development, QuickBooks Online Plus still integrates with popular apps such as Shopify, PayPal, and TSheets. Plus enables businesses to sync data between QuickBooks Online Plus and other business tools, automate tasks, and streamline workflows. This makes it suitable for businesses that need integration with third-party apps but may not require the advanced integration capabilities offered by the Advanced version.
Explore the top 16 most important features of QuickBooks Online Plus.
Conclusion
QuickBooks Online Plus offers a comprehensive set of features and capabilities that are sufficient for many small and medium-sized businesses. With user access for up to five users, customizable user permissions, project profitability tracking, advanced reporting, inventory management, budgeting, integration with third-party apps, and cost considerations, QuickBooks Online Plus provides businesses with the tools they need to manage their finances efficiently.
To experience the benefits of QuickBooks Online Plus, businesses can contact Paygration for a free demo and consultation by calling 866-949-7267. With the right software and support, businesses can streamline their financial operations and drive success with QuickBooks Online Plus.
