Comparing the Different Versions of QuickBooks Online: Simple Start, Plus, and Advanced

Hi there! In this video, we’ll be comparing the different versions of QuickBooks Online: Simple Start, Plus, and Advanced. We’ll cover the features and pricing of each version, as well as the payroll options available. QuickBooks Online is a cloud-based accounting software that allows for remote access.

Simple Start is the cheapest plan, offering basic features such as tracking income and expenses, invoicing, and basic reporting. Plus is an upgrade from Simple Start, offering additional features such as accounts receivable, accounts payable, inventory management, and bill management. Advanced is the most expensive plan, offering advanced features such as smart reports, custom user permissions, and integration with premium apps. Payroll is not included in the plans and needs to be added separately. It’s important to choose the right plan based on your specific needs and requirements. Best of luck on your QuickBooks adventure!

Comparing the Different Versions of QuickBooks Online: Simple Start, Plus, and Advanced

Features and Pricing of Each Version

QuickBooks Online offers three different versions: Simple Start, Plus, and Advanced, each with its own set of features and pricing. The Simple Start plan is the cheapest option, priced at $25 per month. It provides basic features such as tracking income and expenses, invoicing, and basic reporting. The Plus plan, priced at $80 per month, upgrades from Simple Start with additional features like accounts receivable, accounts payable, inventory management, and bill management. The Advanced plan, which is the most expensive at $180 per month, offers advanced features such as smart reports, custom user permissions, enhanced custom fields, and integration with premium apps.

Overview of QuickBooks Online

QuickBooks Online is a cloud-based accounting software that allows for remote access and collaboration. With QuickBooks Online, you can access your financial information from anywhere, on any device, as long as you have an internet connection. This flexibility enables business owners to stay connected and manage their finances on the go. The cloud-based nature of QuickBooks Online also allows for seamless collaboration with your accountant or bookkeeper, as they can access and work on the same data in real time.

Comparison of Features

Each version of QuickBooks Online offers a different set of features to cater to various business needs. The Simple Start plan includes basic features such as income and expense tracking, invoicing, and basic reporting. It also allows for the secure and automatic import of bank transactions, as well as the organization of receipts using the mobile app. The Plus plan builds upon the features of Simple Start, adding accounts receivable, accounts payable, inventory management, and bill management. It also enables time tracking, enhanced sales reporting, and class and profitability reports. The Advanced plan, being the most comprehensive, includes all the features of Plus, along with advanced features like smart reports, custom user permissions, enhanced custom fields, and integration with premium apps.

Pricing Details

The pricing of each QuickBooks Online plan corresponds to the level of features included. The Simple Start plan is the cheapest option, priced at $25 per month. The Plus plan, offering more features, costs $80 per month. The Advanced plan, which includes the most advanced features, is the most expensive at $180 per month. It’s important to consider your business’s specific needs and budget when choosing a plan.

Payroll Options and Costs

It’s essential to note that none of the QuickBooks Online plans include payroll by default. Payroll needs to be added separately, and QuickBooks offers three different payroll options: Payroll Core, Payroll Premium, and Payroll Elite.

Payroll Core is the basic payroll option, offering essential features such as automatic payroll calculations and tax form filings. It starts at $45 per month, with an additional cost per employee per month.

Payroll Premium adds additional features like same-day direct deposit and expert setup review. It starts at $75 per month, with an additional cost per employee per month.

Payroll Elite is the most comprehensive option, including premium features like white glove setup and a personal HR advisor. It starts at $125 per month, with an additional cost per employee per month.

When considering payroll options and costs, it’s crucial to evaluate your business’s payroll needs and decide which option aligns best with your requirements and budget.

Choosing the Right QuickBooks Online Plan

When selecting the right QuickBooks Online plan for your business, there are several factors to consider. First, evaluate the specific needs and requirements of your business. Identify the essential features you need to effectively manage your finances. Consider factors such as invoicing, expense tracking, inventory management, and payroll. Determine the number of users who will need access to the software and whether you require advanced features like custom user permissions or integration with other apps.

It’s also recommended to start with a plan that conservatively meets your current needs and upgrade if necessary. This approach prevents unnecessary spending on features you may not utilize. Regularly reassess your business’s requirements and adjust your plan accordingly.

Simple Start Plan

The Simple Start plan is the cheapest option in QuickBooks Online, priced at $25 per month. It includes basic features such as tracking income and expenses, invoicing, and basic reporting. However, it is important to note that Simple Start only allows for one user and does not include advanced features like inventory management or bill management. This plan is suitable for small startup businesses that primarily sell digital products or services and have minimal accounting needs.

Plus Plan

The Plus plan is an upgrade from Simple Start, priced at $80 per month. It includes all the features of Simple Start and offers additional features like accounts receivable, accounts payable, inventory tracking, bill management, and enhanced reporting. The Plus plan also allows for up to five users, making it suitable for businesses that sell physical products and require more advanced inventory and bill tracking capabilities.

Advanced Plan

The Advanced plan is the premium option in QuickBooks Online, priced at $180 per month. It includes all the features of Plus, as well as advanced features like smart reports, custom user permissions, enhanced custom fields, and integration with premium apps. The Advanced plan is designed for high-growth medium-sized businesses that require advanced financial and business management tools. It allows for up to 25 users and offers custom access by role, making it a comprehensive solution for businesses with more complex organizational structures.

Considerations and Recommendations

When choosing the right QuickBooks Online plan, it’s important to consider your business’s specific needs and requirements. Think about the features that are essential for effectively managing your finances and the number of users who will need access to the software. It’s also important to evaluate your budget and avoid spending extra money on unnecessary features that you may not utilize.

Researching and comparing the different plans thoroughly is crucial in making an informed decision. Take advantage of free trials or demos to explore the software’s functionality and determine which features align best with your business needs.

Conclusion

In conclusion, QuickBooks Online offers three different versions: Simple Start, Plus, and Advanced, each catering to different business needs and budgets. The Simple Start plan is the cheapest option, offering basic features for small startup businesses. The Plus plan provides additional features and is suitable for businesses selling physical products. The Advanced plan is the most comprehensive, designed for high-growth medium-sized businesses. When choosing a plan, consider your specific needs, evaluate the features and pricing, and make a decision that aligns with your business’s requirements. Good luck on your QuickBooks adventure!