Best accounting software for small business
Overall, I highly recommend to small business owners because with the amount you pay it's worth it!
For the price, QBO is an absolute must have for small business owners! Pretty much all accounting features are available and it's very user-friendly. For people who have contractors, you do have to pay additional to keep track of their expenses for taxes, but it records and automates everything for you so it was very easy to understand and use during tax season. They provide accountant services as well for anyone who wants to hire an accountant.
I switched from Wave accounting because it had so many syncing issues so QBO has been amazing and has been a lifesaver!
Happy with software but wish company can make products more affordable and functional without the constant upgrades.
Convenient way of keeping all incomes and expenses in one place and in different categories to improve financial management.
Expensive and require frequent update to be compatible with bank download and/or merging options.
A must-have for business owners
The auto-bank download is a must-have in any tax software. The Desktop version requires some steps to manually visit the bank for the download but can be done. QBO is a solid software for small businesses.
Good tutorials available, auto-banking transaction download (though it does not work for some banks or credit unions in BC) is a great feature, easy to MATCH or TRANSFER funds. Easy to set up bills and to invoice out of the program.
A little bit glitchy - sometimes fields get lost, or report titles get shifted and cut-off. Multi-currency requires the user to go online externally to grab exchange rates. It's confusing to issue customer refunds. The tax module (GST, PST) works okay. Bank reconciliations are difficult when there's anything done out of the ordinary, whereas a manual reconciliation would get the job done quicker.
Perfect for small business
Quickbooks is great because I don't have a pile of receipts to type in. I can upload my transactions directly from my bank and code them as they are uploaded. I use it for tracking income and expenses, sending invoices and running reports. I love the payroll function which saves me money because I don't have to pay the accountant to file my tax documents.
I like being able to use the online service where I can log in anywhere I have internet access. This gives me the option to work remotely.
The banking function is good, but it takes several days to sync up to my online banking balance (doesn't show charges until they are posting, and doesnt download pending ones)
Response from Intuit
Hi there, Gloria. We know managing a business doesn't always happen behind a desk. It's great to hear you've been able to easily complete accounting tasks while on the go. You can count on us to have your back for years to come! To find out more about updating your bank feeds in QuickBooks, we recommend this article: https://quickbooks.intuit.com/learn-support/en-us/change-bank-account/how-to-manually-update-bank-accounts/00/186436
Thanks for taking a moment to leave a review!
Morgan, The QuickBooks Team
The proverbial 800 pound gorilla still works!
QBO is the only one with the complete package that includes the ability to write and track checks. Since my business is simple, I need a lighter, "for dummies" mode that could remove a lot of clutter when it is not necessary. As a consignment business, I use software that is specific to the industry. It keeps all of the data I need to meet regulations. For QBO, a payment is a simple transaction. I wish the system could be lighter and less cluttered.
Aside from keeping things in order, it allows someone with no accounting experience to do the basic bookkeeping activities, produce reports, and keep up with the finances. I like that it will connect with the bank and download activities! Best of all, it will print checks!
Connection with the bank can be flakey, depending on the bank. You have to watch the activity because QB does not tell you if there are problems. It should provide an option to warn you when it could not contact the bank overnight. Also, it is very difficult to use the check lineup processes. For some reason, I cannot get the check printing to line up properly and the tools they give do not work well.
Should Be Great...But There Are Some Issues
Overall, the software should be and is quite capable, however, it seems the staff need more resources/training to troubleshoot issues and the pay period settings need to be more customizable.
Quickbooks is the most well-known accounting software on the planet. It's slick, the software is implemented and developed well with no bugs in my experience, and the capability fits any size business via their subscription plans. This was very much needed for me as a small business owner and it's been a great step up from what I was previously doing.
Here's the cons: When setting up an employee the software gave me a notification and wouldn't allow me to go further once I selected that I had paid the employee previously and would be paying back taxes on them myself rather than charging those to the employee payroll. The notification wanted me to contact Quickbooks for "special handling". The problem is that the QB staff didn't seem to know what or why it was doing that and in the end basically I just had to bypass that whole question altogether to get the employee in the system and I'll have to figure out the previous taxes come tax time. This was like a 2 week process of asking QB repeatedly about this issue.
The last con is the software's insistence to have me running payroll on the same day as the end of the pay period. I've never worked anywhere that did this and it doesn't make a whole lot of sense considering you don't have the hours for that last day yet. But nonetheless, I cannot find any option to change this and I end up waiting a week later, then running payroll, but the software ends up changing the pay date to the previous pay date after a couple of days, so my records are off. This has been the single most frustrating part of the software and nobody seems to know how to modify this particular aspect of it.
Use QuickBooks to feel Empowered and Efficient while running your business
As an ASL Interpreter, I met many self-employed freelancers in my field. I was very apprehensive about transitioning from staff employment to self-employment. Luckily, I decided to try the Self-Employed option through Quickbooks. It's been a great experience. As a "first generation freelancer", I depend daily on the tracking tools that QuickBooks provides. Before, I faced daily anxieties about whether or not I was documenting my expenses and mileage correctly. Now, I track this information confidently with Quickbooks, and am able to spend more of my cognitive and emotional energy on my actual work and passions.
I mostly use the "QuickBooks:Self-Employed" features of this software. I love the versatility with the mileage tracker that allows me either to have trips automatically tracked or to add and delete trips on my own. Living in a metropolitan area, the mileage tracker will sometimes count rides on public transportation as a car ride. I'm easily able to delete that trip and also check on my transactions to make sure that the money spent on transportation is documented appropriately as business or personal.
One of my VERY favorite features are under the "Reports" section. I love the ability to get a preview of what kind of information I'll be sharing at tax time. I can download an excel spreadsheet that breaks down all of my Schedule C Transactions as a different page for each category (assets, meals, etc.). Before I started using Quickbooks, I didn't even know what most of these terms event meant! Now I'm able to work more freely and confidently as a "first generation freelancer".
When manually adding a trip to the mileage section, you are able to input the beginning address and the end address. However, QuickBooks does not have a feature that will calculate the miles between those addresses. As of now, I have to go back to my Google Maps app to see what the number of miles were. It makes the experience less fluid.
The online version is a decent product but I am sure there are other online accounting software packages that provide the same or much more. Dealing with the online accountant customer service department is a total waste of time. Their management team seems to be concerned with their numbers more than customer appreciation. Terrrrrible! My advice: "Buyer beware!"
The ability to assign classes in creating rules for the electronic bank transaction imports. The desktop version does not offer that function. It's sad because I know that if the QuickBooks Online software code writers can create that functionality in the online version, then they certainly should be able to create that functionality for the desktop versions which most subscribers have been using for decades now.
The unexpected price hikes on your account without formal notification or fair warning. Quickbooks has probably been the worst software vendor in that they always find a way to raise your rates by using creative and deceptive means such as switching online account holders and their client accounts to the Advanced Online version as a trial run without the account holders authorization. They leave the burden on the account holder to cancel the Advanced version trail for each of their online client accounts, which most account holders are not even aware that their clients have been switched. Terrrrrible! I'm sure there are laws that prohibit this type of deceptive behavior. Currently I am switching most of my clients back to the desktop versions until I can find an alternative Accounting software that my clients and I can appreciate.
Great Features. Value for money (at the moment). Poor Customer Service
Quickbooks Online is great for businesses that have inventory, job management, budgetting or a large payroll. While these features are available with other software (such as Xero)...it is often for an additional cost. QBO includes these features in their offering. Great for retail, manufacturing and distribution-type businesses.
For service-based business that focus on services, such as consultants, professionals or creatives I would recommend Xero as a better alternative.
Quickbooks Online (for Australia) has great features. It has been around for a long time and has developed a really good platform. Features, such as inventory and payroll are well developed. The reporting available with QBO is excellent - very detailed and flexible.
When things go wrong...the service is very poor. I've had overseas staff who did not know the system, or how things work in Australia. I have had customer support staff not get back to me. And I've had them flat out tell me that they can't help.
Quickbooks is trying to buy market share in Australia, so they are offering significant discounts. This makes the software really affordable...but there is no telling how long these discounts will last. The expiration of a 50% discount may be a nasty surprise for a small business when it does go away. Which it will...at some point.
Don't get caught with the Self-Employed Sole Trader version of Quickbooks online. Your Accountant can't view your data, the reporting is poor and you can't migrate your data to other software. It is a very very basic accounting package...that is not very functional and provides no future proofing.
A decent online accounting system, especially for sole traders and SMEs
Overall I’m very happy with QBO, but would prefer a more stable pricing model. The pro is £30 per month ex VAT but too many introductory offers e.g 40% off for a year, then 70% for six months. This inconsistency creates frustration for existing customers.
As long as you go Pro in the three tiers, QBO has a very good quote to invoice flow, that also easily enables the ordering process to you supplier as part of the workflow.
I like how it integrates with HMRC for VAT, easily pull out a quarterly report for the EC sales list, and view cash flow quickly with P+L and Balance Sheet reports.
I don’t think it handle’s multi currency very well as you can only hold products in one currency.
In addition, customising is very limited. Whilst I appreciate that to keep a stable SaaS product means limiting what you can do, it’d still be nice to have a bit more flexibility and options with additional fields and better custom templates (especially purchase orders).
When it doesn't stink, it's awesome
Cloud based accounting. Reliability. Various user roles is nice.
It's up time is tremendous. It's prettier than it used to be and getting a little prettier by the year. (The Benjamin Button of Software). It doesn't crash in the middle of doing stuff. Their support is very responsive. API plugins. Yeah, high marks, mostly.
1. Emailing invoices. They don't have good alerts for when you have a bad email address for a customer and this can kill.
2. They don't have a way of automatically adding late payment penalties into the invoicing process. We had to plug in some outside software through an API to effectively deal with this.
3. Somewhat related to #2, it seems weak on automated collection efforts to me.
4. I've pointed out a bug to them twice and it is still not fixed, 3 yrs or more later. Silliest thing. Used to work beautifully, but when they got prettier, it doesn't work anymore. What? Adding on another invoice to pay to a vendor after you have come to the payment process through the "Pay Bills" process. It wants to subtract instead of add. (the most odd thing) (they hae offered work arounds that are not viable and just won't get it fixed.. or haven't)
5. The block "Ctrl Clicking" in places when it would be really handy to open multiple tabs when editing a bunch of stuff. This forces you to come back to the list, and search again and again instead of keeping the searched list in place. Maybe there is some reason for this burdensome navigation.
Gives My Small Business a Professional Edge and Makes Accounting a Breeze
This software is simply amazing! I was on vacation in California last year and my business is Kansas City, MO. I had a client reach out needing copies of her service invoices sent to her lawyer by the end of business day. I was able to jump on a computer at the place I was staying and log in to my companies Quickbooks and meet my customer's need. I guess I would have assumed it would work since it is online, but to see it work in a situation like the one I was in, made me extremely happy.
Quickbooks Online was a game changer for my business. It has paid for itself 100 times over simply because I can more accurately see where my company is spending money. It also allows me to track where a job came from so I can see, in a matter of seconds, where all my jobs came from and how much I earned. This has helped me stop spending money on marketing or advertising is areas that weren't profitable. The second best thing is that it makes getting customer's copies of their invoices a breeze and looks very professional. We are a small business and referrals are very important and clients feel more secure with a company that has such a professional accoutning system. My third favorite thing is QuickBooks On the Go payment options. It has the lowest processing fee I could find, it is extremely simply to set up and use, and it makes accounting easier because Quickbooks automatically seperates the fee from the profit correctly.
The only cons are based off of user error and personal lack of Quickbooks software and accounting. However, I have an amazing accountant who handles our Quickbooks. He is patient and also helps me learn how to use the basic functions.
Overall Quality Accounting Software
Quickbooks is the industry standard for accounting needs and the cloud based apps know this. Thus, they make integration to the accounting tool very easy. Quickbook is very easy to set up and the invoicing looks very professional. If you are looking for an overall great accounting software that will require minial training look no further than Quickbooks Online.
Quickbooks Online is a very accessible accounting software. It is straightforward to use and understand. The reporting in the software is powerful and can be customized and compared to your needs. It integrates very well with hundreds of other apps and softwares.
Quickbooks is limiting when it comes to adding products or services. Once they are created it is extremley difficult to modify or edit them. This happens across the board with vendors, customers, and other charecteristics of items in the Quickbooks. This makes the need to create new ones necessary and more tedious reporting.
Top notch customer service and good option for people without much accounting experience!
QBO helped our medical practice immensely during our first year of business. I feel like QBO enabled our business operations to run smoothly and efficiently. Working with QBO also taught me a lot about accounting in general and gave me confidence as a practice manager. I strongly recommend QBO for individuals who are new to accounting. I have always felt like a valued customer and I am glad that we chose to use QBO for our accounting needs.
We opened our medical practice about one year ago and started out with QBO from the very beginning. As a practice manager with limited accounting experience, I was really intimidated at first. I give credit to QBO for turning this around, however. The QBO interface is very clean, easy-to-use and intuitive. On top of that, there are several well made educational webinars & instructional videos/articles that simplified my understanding QBO & accounting in general. To go even further, the customer service is amazing. I have called them with questions on a number of occasions and the QBO reps have been some of the most professional, knowledgeable, patient, articulate, and courteous phone agents I have encountered. Even with challenging situations, I have always felt well taken care of by QBO.
We have run into a couple of minor glitches, but nothing major. For about a month, we kept receiving automatic error emails that told us something was wrong with our account billing when there wasn't. It stopped after a while, but we did have to call multiple times and try different fixes with the reps. The only other problem is that a couple of months ago our transactions stopped automatically streaming into QBO. We weren't able to fix our bank connection through QBO and it became a hassle getting our bank involved. I do want to note, however, that our bank was difficult and unpleasant to work with, but that QBO was really great and I felt that the QBO representatives truly took the time and effort to go above and beyond to help resolve the bank account reconnection issue.
QB Online goes Everywhere with you and is User Friendly
QB Online has given our company the capability to work remotely and still be able to access all we need through this software. Often times, we have found ourselves needing for draw up bid proposals, check past invoices, and submit payroll while away from the office desktop. QuickBooks Online allows this flexibly to access this information from anywhere with wifi. It also allows several employees to access the information at the same time from varying locations. We have been using this software for nearly 8 years and we have not intentions on using anything else. All accounting duties are done through QB, reconciliations, payroll, payroll taxes, balance sheets, monthly reports, etc. Beyond that we use it for providing bid proposals to our clients. We can easily access past proposals and create invoices directly from them. It has offered us a perfect solution for our accounting and pre-construction daily tasks. QB Online also has the capabilities to sync with TSheets, an employee tracking software that has made the usage of QB online even more user friendly when importing timecards and customer reports.
Overall, the software is great, however, we would like to see more variety in the bid proposal formatting.
Great Service for Accounting
It's the best at what it does, but I wish the customer service was better.
It's very clean and once you get the hang of it, it's easy to use.
Customer service is rough. It's hard to get someone on the phone, and when you do, if an issue is not resolved, it's hard to come back to the original problem and find someone to help. I don't like having to start over.
Response from Intuit
We're thrilled to know you've enjoyed using QuickBooks, Harley! You can continue to rely on us for all of your accounting needs for years to come. For an alternative route to reach support, we recommend checking out the Community. Here, you'll find a variety of articles, and if you don't see exactly what you're looking for, you can post your own unique question to receive helpful advice from fellow users and QuickBooks Team members: https://community.intuit.com/
Thanks for stopping by to leave a review!
Morgan, The QuickBooks Team
QBO is the way to go.
Glad we made the switch from the desktop version to QBO. QBO makes entering transactions simple, allowing a user to process transactions and create invoices from smartphones. Happy to use the product as it's a HUGE time saver. Love that it's cloud based and accessible from practically anywhere.
User friendly, able to us on the go on a smartphone. Login from anywhere. Software engineers are constantly fixing small bug issues. Makes accounting/book keeping easy.
Although bugs are fixed, there seem to be quite a few bugs that happen often. Other than that there is not much that can be said that is liked least about the software.
Just what small businesses need!!!
I just love how easy everything is to do with this software and how considerate the creator of this tool is. I get work done much faster using this in comparison to my old method.
1.I love the fact that if you cancelled your account intentionally or by mistake all your data is kept safe for up to 12 months from the day of cancellation, however resubscribing within those 12 months reactivates your account.
2.The dashboard reminds you daily of your income and you previous month expenditures using a donut chart . The home dashboard screen also shows you how much money was earned over the last 30 days. I personally think this is an awesome feature especially if you are trying to reach higher sales targets in the upcoming months and lower your expenditures.
3.Creating new customers are effortless.
4.Adding new products and services and even removing them is just as easy as creating a new customer.
5.Easy to navigate through.
6.The fee Per month is affordable so that's another plus
7. Customer service are reliable and fast.
1. There are times when I would be working on some big estimates that took alot of time to put together and i would be logged out of my account while still working on it without auto saving my work then i had to start all over this can be frustrating.
Great for our small business
We access QuickBooks through our accountant who has a cloud setup for our business For our Macs, we have to use a separate application to run the program. I believe this is because of the nature of our accountant’s system. It is very easy to use, and actually makes me look forward to assessing our financials periodically (as opposed to before, when we monitored everything through excel workbooks!). It is easy to categorize all of our expenses and if I ever am unsure of where to log an expense there is an “ask my accountant” option. Overall, switching to QB has been an awesome decision for our business. I’m sad we waited so long!
QuickBooks saves our business *days* (not just hours) of time per year in regards to our financial keeping. It is very quick to go through our monthly statements to double check our revenue and expenditures (roughly 5 minutes for a month). We pay our payroll by just clicking a few boxes. As a small business, time is a huge factor. My most favorite feature is the mileage tracker. I have used several mileage trackers/recorders, and QuickBooks is my favorite in terms of format and accuracy.
There are A LOT of features. For our small business, there is so much stuff in QB that we do not utilize and make sure it slightly confusing. However, once you learn what portions you need for your business and what you need, it’s very easy to navigate.
Powerful and Flexible
We like the ease of use and powerful reporting functions
We use QuickBooks Online (QBO) for our bookkeeping for our small tourism destination. We like that we can use it on desktop computers and our mobile devices to track expenditure and revenue. lots of useful reports. It integrates well with our booking software and banking.
We converted over from Quickbooks desktop and it has been a steep learning for us and a lot of extra work getting it set up and working properly.
Response from Intuit
It's great to hear QuickBooks Online has been a helpful tool for your business. Whether you're on the computer or on the go, you can count on our software to get the job done. For tips on getting the most out of QBO, be sure to check out our Community page (http://community.intuit.com/).
All the best,
Jen, The QuickBooks Team
I've been using quickbooks in various forms for over 8 years and they have made great improvements in functionality over the years. Using software that is put out by a company always looking to improve is important to me. Quickbooks online is subscription based but worth it since I can access my invoices and banking anywhere anytime. The desktop version works great for the printing company I work for and being able to seamlessly move from estimate to invoice is a huge plus for us.
I like that I can create an estimate for my client and seamlessly turn it into an invoice and email it out in one easy platform.
Navigation on the desktop version is a little more complicated than QB Online, I use both for two different companies and definitely prefer the online layout.
Response from Intuit
Hey there, Holly. Empowering you with the tools you need to easily manage each company's finances is what we're here for. We're thrilled to know you've enjoyed using QuickBooks for quite some time now to do just that! To learn navigational tips and tricks for the Desktop version, we recommend checking out the Community. You'll find a variety of how-to articles, as well as guidance from fellow users and QuickBooks Team members: https://community.intuit.com/
Thank you for a great review!
Morgan, The QuickBooks Team
I, as an accountant, appreciated bookkeeping in the cloud
QuickBooks has everything you need for accounting: the ability to generate reports, monitor revenues and expenses for each of the projects and many other useful functions. It pleased that the developers introduced a multi-user mode - it's great to simplify the work, when I can distribute tasks between employees and monitor their implementation.
The program is presented only in English, but these are trifles. The main question to the developers is why there is no notice whether the personal data is being collected. And one more thing - a too slow technical support service.
Response from Intuit
Thank you for reaching out, Nataly. While global versions of QuickBooks have language settings which you can edit (community.intuit.com/articles/1713838), I'm glad you enjoy the flexibility our cloud-based product offers. As for your personal data, please know we take your security seriously. You can review the steps we take to keep you safe at https://security.intuit.com/, and I encourage you to send me an email directly ([email protected]) should you have questions.
In the meantime, find us on Facebook (Intuit QuickBooks) and Twitter (QBCares) when you get the chance. We have product experts on standby, and they have the tools and technical expertise to get you squared away. As an added benefit, they're open M-F from 8 a.m. until 10 p.m. and you can expect quick responses within that time-frame.
Jess, The QuickBooks Team
Quickbooks Online for Small Business
We have a pretty simple business and Quickbooks Online is satisfying our ability to run that business at this point. If you we do grow/expand then it may prove to be a bit limiting, but for small businesses with minimal employees and straightforward accounting practices it is a good relatively inexpensive program.
Quickbooks online was very easy to set up for my business and has a very easy, user friendly interface. The invoice and payment aspect is straightforward. The payroll feature is quite easy to use and they take care of all the payroll tax reporting/payments which is one less thing I have to worry about. I also like the fact that it is cloud based so I can access it from anywhere.
The banking feature is good, but could be better. I constantly have connection issues between Quickbooks and my bank accounts/credit card accounts. The reporting section is quite primitive and could make better use of easy to read graphs, etc to easily compare different aspects of the business. We use a lot of contractors and access to 1099s and other documents to pass onto vendors is not very user friendly.
Good Balance of Ease and Flexibility for Non-advanced Users
- Simple accounting for business owners who want to avoid hiring dedicating expensive accountants to manage their daily finances
- Very easy to set up payroll
- Simple and quick e-file for taxes
- As a single-member S-Corp consulting business, QuickBooks Online was more than enough for me to manage my own finances and payroll. It's extremely friendly for non-accountants.
- At the end of the year, you will easily find many certified QuickBook accountants who can do your business taxes by simply inviting them to your account
- Large community with many Q&A available in their public forums. If you run into unusual situations, the community will help you correctly record it in your account. They're friendly to beginners and those who are not familiar with tax laws.
- Lastly, most impressive, when I decided to shutdown my business. QuickBooks Online had a feature to export all of your finances and records! Other competitors who I had tried in the past, had only "import" feature and then they lock you in by not allowing you to export or view your records unless you pay the monthly subscription fees. QuickBook has really impressed me with this ethical mindset.
- I was unhappy that they somewhat made it a hassle to reach support by making it available via phone only. With busy schedule, I appreciate writing my inquiries via email and forget about them to focus on my other tasks. QuickBooks Online forces you to call support by phone for inquiries
- I believe their pricing needs to be updated with rise of competition, especially for payroll features.