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Quickbooks Online 2023

Scroll down for our reviews of QuickBooks Online software. Click here to compare all QuickBooks products.

Anyone who works with Intuit’s Quickbooks is probably aware that the company has been pushing its online product over Quickbooks Desktop in recent years. Here’s a closer look at Quickbooks Online, how it works, and what its features are.

What is Quickbooks Online?

QuickBooks online is cloud-based bookkeeping software, which means you must have a reliable Internet connection to make it work. Because it is cloud-based, you can access it from anywhere you have an Internet connection, and from any device. QuickBooks online also comes with free support, a free 30-day trial – after which you pay a monthly subscription – and allows for up to 25 simultaneous users.

QuickBooks online has a host of automatic features - including invoice, receipt, and report transactions. It also has automation features for items like email reports, customer billing, and downloading bank transactions.

Intuit is also eager to point out the features that you can only find with QuickBooks online: the ability to automatically schedule and send invoices and work from PC, Mac, smartphone, or tablets at any time; instant file access for accountants, and connection to more than 300 cloud-based apps.

Other features that come at no extra charge with QuickBooks online are the ability to automatically download your bank transactions, automatic backup, access to the latest feature updates, and access for up to five users. Those features are available with the desktop version, but at an added cost.

One feature you won’t find in the online version is the ability to customize certain forms.  Whereas you can track mileage, track inventory, and create industry-specific reports in the desktop version, those functions are limited or nonexistent in the online version.

Quickbooks Online comes with three tiers: Simple Start, Essentials, and Plus. Simple Start comes with one user account, and runs $10 per month; Essentials includes up to three user accounts and costs $20 per month; and Plus includes up to five user accounts and is $35 per month.

As the name implies, Simple Start is basic bookkeeping software, and works well for very small businesses that want to organize and track bank and credit card transactions. Essentials includes a little more, and would work for businesses that need to outsource their bookkeeping duties. Plus comes with the most features – 65 reporting features in all – and lets businesses track inventory, create purchase orders, and prepare and print tax forms.

Overall, Quickbooks Online is probably best for businesses that will need employees to have remote access to bookkeeping and will need for multiple employees to be able to access QuickBooks at the same time, and that want to take advantage of automation.

Advantages and Disadvantages

One of the main advantages to Quickbooks Online is that, because it is cloud-based, it allows multiple users to operate it from anywhere. So if a business in Austin, Texas has a New York-based bookkeeper, both parties can access reports. Bookkeepers and accountants also report that it’s easy to add and remove users.

Being cloud-based also mean automatic backups, so data isn’t lost.

Quickbooks Online’s disadvantages include a sometimes difficult-to-navigate setup, as well as limited access to multiple screens. That can make it hard to switch between reports, bills, and vendors. Some accountants have also reported that Quickbooks Online will sometimes save a client’s entry as a fixed transaction that a CPA cannot correct, should there be an error.

QuickBooks Online Recent Updates

One perk of opting for QuickBooks Online is that its maintenance team is regularly rolling out new features and bug fixes in order to improve your online accounting experience. The following are the most recent additions and updates:

Redesign of “Your Account” Page

With the new layout you can quickly toggle between a list of your client subscriptions, billing details and your personal profile by clicking on the row of tabs below “Your account”. Additional changes have been made under the following tabs:

Client Subscriptions: Newly added client subscriptions statuses will immediately change to “active”. With the new option to subtract multiple clients from your subscriptions, you’re no longer limited to subtracting them one at a time.

Billing Details: Newly designed monthly QB online invoices are itemized by easy-to-scan categories (ex: by product or by client). Each client’s bill as well as your sales tax is now automatically calculated, reducing manual busy work. For more information on the new Online Billing Experience, Intuit has made this easy to follow, animated video.

New Team-Wide Work Notifications

New email and Slack notifications ensure that all team members stay in the loop concerning assignments, updates and due dates. Find the new feature in the “Work” tab of QB Online Accountant and select “Notifications” from the top of the page.

New Quickstart Templates

By creating a set of standard templates for the most common accounting workflows that firms use to create projects, Quickstart Templates help to get repetitive client work done as quickly as possible. Use the templates to set up projects such as tasks for monthly bookkeeping, payroll, client onboarding and year-end tax work. Using the templates also ensures consistency across team projects. You can also create custom templates to meet unique project needs. Find the new tool in the “Work” tab of QB Online Accountant and select “Manage templates”. After selecting the template you want, answer a few questions concerning your project, select save and you’re now able to refer back to your template list for smooth project setup.

Direct Bank Feed Now Includes Capital One

In addition to Capital One, Intuit is working to fine-tune their update to meet customer needs of the following banks:

• Chase

• Bank of America

• Wells Fargo

One-Page Payroll Summaries Now Show Clients the Cost of Every Employee

Followed by several request from small business owners, employee wages, deductions, tax data and more are now available for clients to view on a one-page payroll summary. Clients can access payroll summaries in the “Reports” tab of QB Online. The report can be sorted by time period, employee type, work location, etc. After choosing their filters they can then select “Run Report” to receive a quick and clear rundown of each individual employees financial impact.

Improved Item Setup Process

You no longer have to exit your workflow to create. a new account when a new item you’re adding requires one. Now you can choose to add a new account from your current screen. In the dropdown list of existing accounts, the option to “Add new” is available.

The Role of Payroll

If your business uses Intuit’s Payroll, it will work with Quickbooks, but Intuit wants you to buy them bundled together. The company sells two integrated products: Quickbooks with Enhanced Payroll, for $54 per month – with a 50% discount for the first six months – or Quickbooks with Full Service Payroll for $114 per month, also with a 50% discount for the first six months.

As a standalone software, Intuit Online Payroll will export transactions to Quickbooks Desktop and to Quickbooks Online, for those who don’t want or need to buy the already-combined software.

Simple Start

Simple Start Screenshots
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This version is great for:

• People who primarily want to organize and track bank and credit card transactions for their business
• People who do not want to use this software to enter bills and schedule payments

Conclusion:

Online Simple Start is the most basic bookkeeping software Intuit offers and will work for extremely simple businesses that don't require the ability to enter and track bills form vendors. Simple Start now (finally) includes the ability to download transactions from your bank and credit card accounts, which dramatically reduces the time it takes to keep your books up to date. However, you are not able to enter bill from vendors for future payment. if you have a simple business and don't mind only entering expenses when they are paid and not having the ability to enter bills for future payment, Simple Start is a good starting point, and you can easily upgrade to another QuickBooks Online version with more features like Online Essentials or Online Plus at a later time.

 

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Simple Start Features
Price	$30 $15/month
Number of User Accounts	1
Free Trial	30 Days, but
Unlimited Customer Support	Free
Ease of Use
Managerial Features	Very Basic
Number of Reports	20
Online Access
Prints Checks
Creates Invoices
Uploads Bank Files
Tracks Inventory	—
Helps Create Tax Forms	—
Industry-Specific Reports	—

Online Essentials

Online Essentials Screenshots
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This version is great for:

• Any small business that wants access to their books from anywhere with an Internet connection and doesn't need to track inventory
• Small businesses that need to accomplish basic bookkeeping tasks, including the ability to upload bank and other financial files
• Companies that outsource their bookkeeping duties
• Those who wish to give multiple users (up to 3) remote access to the books
• People who want to have copies of their books automatically backed up online

Conclusion:

Online Essentials is an excellent starting point for small businesses that want to have online access to their books. With this version, you will get all of the necessary bookkeeping tools and the ability to easily upload bank and other financial files. Online Essentials gives you unlimited access to phone and email support if you ever have a question or problem. With this software, remote and mobile access is included as well as online backup. If your business has inventory, upgrading to Online Plus will be necessary to give you the ability to track these products. There is no copy of this software that you can work on directly from your computer without an Internet connection, if you don't want the online access capabilities, try QuickBooks Desktop software.

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Online Essentials Features
Price	$55 $27.50/month
Number of User Accounts	3
Free Trial	30 Days, but
Unlimited Customer Support	Free
Ease of Use
Managerial Features	Beginner
Number of Reports	40
Online Access
Prints Checks
Creates Invoices
Uploads Bank Files
Tracks Inventory	—
Helps Create Tax Forms	—
Industry-Specific Reports	—

Online Plus

Online Plus Screenshots
(Click Thumbnails for Larger Images)

This version is great for:

• Any small business that needs to track inventory and wants remote, online access to their books
• Bookkeepers and accountants who want the added guidance of setting up tax forms through their bookkeeping software
• Small businesses that need to accomplish basic bookkeeping tasks, including the ability to upload bank and other financial files
• Companies that outsource their bookkeeping duties
• Those who will need to give multiple users (up to 5) remote access to their books
• People who want to have copies of their books automatically backed up online

Conclusion:

QuickBooks Online Plus is the most robust Online version that QuickBooks offers and includes more than 65 reporting features. It has all of the features of Online Essentials, plus the ability to track inventory, create purchase orders, and prepare and print tax forms. This software automatically backs up all of your bookkeeping data. Online Plus also includes unlimited phone and email support as well as remote and mobile access. One downside with all QuickBooks Online versions is that you cannot work with your business’ books without an Internet connection. If you want to have this ability, you'll have to go with one of the QuickBooks Desktop products.

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Online Plus Features
Price	$85 $42.50/month
Number of User Accounts	5
Free Trial	30 Days, but
Unlimited Customer Support	Free
Ease of Use
Managerial Features	Advanced
Number of Reports	65
Online Access
Prints Checks
Creates Invoices
Uploads Bank Files
Tracks Inventory
Helps Create Tax Forms
Industry-Specific Reports	—

QuickBooks Alternative Xero Standard

Xero Standard Screenshots
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This version is great for:

XERO IS NOT OWNED BY INTUIT OR AFFILIATED WITH QUICKBOOKS. IT IS AN ALTERNATIVE, COMPETING PRODUCT.

• Small businesses that have employees on payroll and need a full featured bookkeeping tool. Xero includes both services in their plans.*
• Xero is touted as being more intuitive than QuickBooks Online, so it is a good option for people seeking an alternative
• Remote access and multiple users make it great for remote teams with offsite or outsourced bookkeeping
• Businesses with simple inventory management needs (more advanced inventory management available through Xero app store for additional fees)
• If you use multiple currencies, or have more than five employees on payroll, you'll need to upgrade to a higher level of service.

*Payroll services only offered in these states: Alaska, Arizona, California, Colorado, Florida, Georgia, Hawaii, Illinois, Indiana, Maryland, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, North Dakota, South Dakota, Tennessee, Texas, Utah, Virginia, Washington and Wyoming.

Conclusion:

Xero Standard is a legitimate alternative to QuickBooks Online Plus. The service includes every major feature offered by Online Plus, is less expensive AND provides payroll services for up to five employees for no additional fee. Xero's service is intuitive and flexible and offers over 500 integrations through their app marketplace. The only significant drawbacks to Xero are the lack of phone support and the fact that they aren't QuickBooks, which means they are still a relatively tiny (but growing) competitor in the bookkeeping industry.

 

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Xero Standard Features
Price	$32/month
Number of User Accounts	9999
Free Trial	30 days
Unlimited Customer Support	Free
Ease of Use
Managerial Features	Advanced
Number of Reports	40
Online Access
Prints Checks
Creates Invoices
Uploads Bank Files
Tracks Inventory
Helps Create Tax Forms
Industry-Specific Reports	—