QuickBooks for Small Business: Which Version Do You Need?

Small businesses that prefer locally installed software and work with a PC. With QuickBooks Online, you can send, track and file 1099 forms for independent contractors. In fact, we found QuickBooks’ workflow for preparing 1099 forms to be exceptionally straightforward – it takes just three steps. I could also click “new vendor contact” to input the contact information of key individuals at the vendor company. In this episode, Harlem chocolate Factory founder Jessica Spaulding recalls a few of her early money management mishaps, and three revenue and expenditure accounts overview office of the washington state auditor big lessons learned. Grow confidently when you’re ready with our easy-to-add solutions.

Accounting software can improve productivity by automating time-consuming tasks, such as invoicing and tracking payments. This frees up your time so you can focus on running your business. Plus, software can help keep your books in compliance, which can save you time and money in the long run. When determining the best accounting software for your business, it’s important to consider support, security and integration with your current applications, as well as cost and features. Neat offers several key features, including extensive document management features, its patented optical character recognition (OCR) software and its mobile application. Intuitively, at the top of this screen was a link accounting basics that gave me the option to add a custom widget (or “Insight”).

FreshBooks vs. QuickBooks Features

Once I clicked a menu tab, all the tools I needed to use to complete relevant tasks were included in the resulting page. From there, once I landed on the dashboard, I received a checklist of items to complete account setup and customization. I could also access a continually updating list of shortcuts to tools I most use in the platform.

QuickBooks accounting products at a glance

This adaptability extends to bank connections, integrating with over 9,600 financial institutions across the U.S. and Canada. This ensures that businesses have a singular view of their finances, with the ability to zero based budgeting advantages and disadvantages review, edit and reconcile records efficiently. NetSuite’s accounting software is all about automation, which can be a huge time-saver (and stress-reducer) for businesses. Automation features include creating journal entries and statement reconciliation. AccountEdge has a 4.3-star rating on Capterra with 93 user reviews and a 3.7-star rating on G2 with 23 reviews.

QuickBooks Desktop Premier

1. With QuickBooks Online, you can send, track and file 1099 forms for independent contractors.
2. Between the two, FreshBooks is the better-priced product, although QuickBooks is a good value for what you get.
3. Some say they have experienced delays in product functioning, specifically when working with large data sets.
4. From the same page, I could view project profitability reports, time cost reporting and estimates versus accrual reporting.
5. When I tried testing this software on a Mac computer, I experienced one glitch after another with installation, making it impossible to even download the software and get it going.

However, not all actions were as useful as they would seem at first glance. When I clicked “+ create,” then “invoice,” I was taken to a long form to fill out to create an invoice. It was highly customizable, allowing me to answer details about the invoice that would aid in filing it in my storage system and making it searchable. For example, I began by entering basic invoicing information, such as the vendor’s name, the invoice number, the date and the amount and due dates. I tested OneUp on a MacBook Pro computer using the Safari browser. I found the software to be extremely easy to set up and start using.

QuickBooks’ personalized models for expense reporting is one big reason it’s so easy to use. The program recommends categories for a few of your expenses and uses your answers to automate how it classifies future transactions. We were highly impressed with this feature, as it made for more organized, accurate categorization.

While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. Our partners cannot pay us to guarantee favorable reviews of their products or services. We believe everyone should be able to make financial decisions with confidence. You can also personalize the invoices with your company’s brand images and color schemes, thereby keeping your brand at the forefront of all communications. Invoices can be sent manually or scheduled to be sent automatically on a recurring basis, which we found especially useful.

It had fields where I could name the folder and choose where it would be stored in “my cabinet,” allowing me to add a new top folder or create a subfolder to another existing folder. Once I finished answering the setup questions, I was given access to the platform. The first screen I saw was the “all files” screen, which allowed me to see any files I had stored in my Neat account. As I tested the software, it was clear that the platform was designed primarily for the purpose of storing financial documents.