QuickBooks Online Review

Editor’s note: Quickbooks Online, not any of the other Quickbooks products. Other reviews and accounts tend to mix up all of the different versions of Quickbooks which can be confusing to most readers. Overall, I found Quickbooks Online to be deserving of its position as the top small business accounting solution, but it certainly comes with a hefty price tag. Small business owners will need to decide whether or not to pay a bit extra for a really smart and intuitive accounting platform – Quickbooks Online.

How Does QuickBooks Online Work?

While QuickBooks Online doesn’t offer a free trial, getting started with the software is quite easy:

1. Head on to the company’s website and choose the right plan for your needs. QuickBooks online comes with 4 options: Simple Start, Essentials, Plus, and Advanced.

2. Once you select the plan, you would have an option to add Payroll functionality. Here, you can choose between Payroll Core, Payroll Premium, and Payroll Elite. While having your accounting and payroll needs handled in one place is very convenient, it isn’t a must. You can skip the Payroll add-on altogether.

3. Finally, you can checkout and start using QuickBooks Online! Here is an example of what the monthly price would look like for the Plus plan with the Payroll Premium add-on. Note that QuickBooks Online offers a 50% discount for the first 3 months, which is a nice bonus.

4. Once you click on the “Checkout” button, you will be asked to create a new Intuit account (or sign into the existing one) and provide your payment information. From there, you can start using your QuickBooks Online immediately.

While there is no free trial, QuickBooks Online does offer a free demo for customers to test-drive the platform with pre-filled data. Upon starting the demo, you will see the convenient dashboard with shortcuts to all the most important functionality, such as “Add receipt”, “Add bill”, “Pay bill”, “Track time”, and more. Another way to access the accounting tasks is through the menu on the left-hand side.

QuickBooks Online is incredibly functional and customizable and comes with over 650 integrations. Among these are 25 different payment processing options like QuickBooks Payments. The Advanced plan also comes with a built-in Fathom integration and allows subscribers to access premium apps.

When using QuickBooks Online, you do not need to worry about online security: the platform has a number of measures in place to keep your information safe, including multi factor authentication, 128-bit SSL encryption, physical safeguards, and routine testing.

QuickBooks Online Main Features

One thing worth mentioning in this QuickBooks Online review is that the plan you choose will determine the features you have access to. Here are a few that stand out:

Record-Keeping and Reporting

With QuickBooks Online, keeping thorough, detailed records is easier than ever. For example, when you are adding an expense, you have an option to add permit numbers, reference numbers, attachments, and memos. You can even split the expense into several items or categories.

Here is an example of an Accounts Receivable Summary generated by QuickBooks:

Inventory Management

The Plus and Advanced plans of QuickBooks Online come with an inventory management feature, which allows you to track inventory and cost of goods, as well as set up low stock alerts. You can also manage vendors, create purchase orders, and sync your inventory with third-party platforms like Shopify or Amazon.

To give you an idea, here is how the inventory quantity adjustment window looks like:

Payroll

As the most popular add-on, the Payroll feature allows you to run payroll and access other benefits from the same place. This includes computing taxes and accessing correct forms, as well as using the next-day direct deposit feature.

QuickBooks Online Pricing

QuickBooks Online comes with four pricing tiers: Simple Start, Essentials, Plus, and Advanced. With the most basic plan, Simple Start, you get all the basic accounting tools a small business might need. This includes income and expense tracking, invoicing and payments, financial reports, cash flow management, and more. 

The more extensive plans include all the features of the Simple Start plan, as well as more in-depth reporting, advanced tools, and additional users. 

Additional QuickBooks Online Costs

While QuickBooks Online includes most of the typical features of an accounting software, there are a few add-ons you can purchase at an additional cost. One of the most popular ones is QuickBooks Payroll, with prices ranging from $45 to $125 per month, plus $5 to $10 per month per employee.

You can also pay for e-filing services starting at $14.99 or purchase a custom invoice template for $4.99. In addition, QuickBooks Contractor Payments is a relatively new add-on that is recommended for businesses that pay 1099 contractors. The service cost starts at $15/month for up to 20 contractors.

Finally, QuickBooks offers a convenient QuickBooks Live Bookkeeping service. With this service, for $200 to $600 per month, you will be matched with a personal Certified QuickBooks Advisor and accounting expert. The Advisor will take care of your bookkeeping tasks, such as reconciling accounts, categorizing transactions, closing the books, and reviewing your financials.

QuickBooks Online Ease of Use

Without a doubt, getting started with QuickBooks Online involves a rather steep learning curve. Some features are hidden in settings and might be difficult to find at first. However, once you get comfortable, you will find QuickBooks intuitive and easy to use. Plus, you can always make use of the built-in help button in case you can’t find what you need.

QuickBooks Online Customer Service

Wondering how to create an invoice in QuickBooks Online or how to delete an account in QuickBooks Online? Whatever your question, the dedicated customer support team from Inuit will be happy to help you. While QuickBooks Online doesn’t offer email support, they do provide phone customer service available from 6am to 6pm PST, Monday through Friday. The phone support is also available on Saturdays, from 6am to 3pm PST.

As for the quality of customer service, the users of QuickBooks Online have split opinions. Some find that they receive the needed assistance quickly and efficiently. Others, however, complain about not receiving clear answers and getting cut off during the phone call.

QuickBooks Online User Reviews

QuickBooks Online receives many positive reviews from the users. While Inuit is not accredited by the Better Business Bureau, it has an A- rating. QuickBooks Online, specifically, has 4 / 5 stars on G2 Crowd and 4.3 / 5 starts on GetApp. The mobile apps are also ranked highly with iOS users (4.7 / 5) and Android users (4 / 5) alike.

Happy reviewers mention the platform’s extensive integrations, convenient online access, and detailed reports. The few negative QuickBooks reviews focus on expensive monthly costs, subpar customer support, and issues with the mobile app.

QuickBooks Online Alternatives 

When comparing QuickBooks Online to two of its two top competitors, Patriot Accounting and FreshBooks, there are a few instances where QuickBook undoubtedly wins. As such, QuickBooks offers a huge selection of features, customization options, and add-ons. 

Out of the three alternatives, FreshBooks is the most restricted platform. For example, both QuickBooks and Patriot employ accrual and cash-basis accounting methods, while FreshBooks only works with the accrual method. Furthermore, FreshBooks can only be used by one person, while QuickBooks can be expanded to be used by up to 25 users, and Patriot has no user limits at all.

It is worth noting that QuickBooks Online is one of the more pricey options on the market. To compare, QuickBooks may cost you between $30 and $200 per month, while FreshBooks comes with a more budget-friendly price tag of $15 to $55 per month. Similarly, Patriot Accounting costs between $15 and $25 per month.

Bottom Line

While relatively expensive, QuickBooks Online offers a broad range of features and has a selection of complex accounting capabilities that a small business owner might need. As seen in this QuickBooks review, the software offers an impressive number of integrations and add-ons, and you will be able to find the right monthly plan for your needs. Plus, the software comes with convenient iOS and Android apps to keep track of your accounting on-the-go.

So, if the accounting features and on-the-go usage are at the top of your priority list, QuickBooks Online might be just the right option for you.