If you are self-employed and report income on Schedule C of your personal income tax return, the QuickBooks Self-Employed plan will likely make the most sense. The QuickBooks Online plan that’s best for you largely depends on the number of users who will be using the program, the size of your business and your particular needs. Learn more in our complete guide to QuickBooks alternatives. For Xero’s Early plan ($13), the number of invoices that users can send each month is capped at 20, but for all other Xero plans, users can send unlimited invoices. Because there is an unlimited number of users that can use the program, you can maximize its use if you have a team of professionals who need access to your accounting software. Although it has the lowest starting price, at $12 per month, it can be a little more difficult to navigate than QuickBooks or FreshBooks. Xero is most often used by small to medium-sized businesses (SMBs). Its basic plan is in line with QuickBooks Simple Start, at $15 per month. It is incredibly user-friendly and easy to navigate, so if you are a sole proprietor looking for basic accounting software, FreshBooks will meet your needs at a relatively low cost.
QuickBooks is an excellent option for growing businesses and larger companies, especially if they want project management tools, the ability to allocate billable hours to specific clients or manage a large amount of inventory.įreshBooks is great for self-employed individuals, sole proprietors and independent contractors. Phone and email support, live chat, knowledge base and help centerĮxtensive online tutorials and 24/7 online supportĪlthough QuickBooks Online is a great cloud-based accounting platform, it isn’t the only one. One (additional $10 per month for each additional user)Ģ0 per month for $13 Early plan (Unlimited for all plans) Self-employed, sole proprietors and independent contractors Growing small businesses and larger businesses It covers up to 25 users and provides dedicated customer support and advanced reporting features.Ħ0-day moneyback guarantee for annual QBO subscriptions This plan significantly extends the functionality of the other plans by offering features such as a dedicated account team to help, workflow automation, data restoration, batch invoices, and on-demand online training. Larger businesses with substantial accounting teams may want to consider the QuickBooks Advanced plan.
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Because the Plus plan enables users to view and track projects, including project expenses and labor costs, users can accurately track a project’s profitability and generate relevant reports on project progress. Midsized businesses with several customers or clients might benefit from the ability to track profitability with QuickBooks Plus. It also includes up to five users per account. QuickBooks Plus is the most popular plan for businesses since it includes features such as inventory tracking, project management and tax support. Additionally, QuickBooks Essentials will send reminders regarding upcoming bills to be paid so that you don’t miss a payment. A key added feature of the QuickBooks Essentials plan is the ability to manage unpaid bills and allocate billable time and expenses to a specific customer. The plan offers up to three users all the features of QuickBooks Simple Start, plus the ability to track hours worked and manage bills. Small businesses that are growing may want to use QuickBooks Essentials. To manage and pay bills, you’ll need QuickBooks Essentials. Although you can track expenses, QuickBooks Simple Start doesn’t enable users to pay bills. The Simple Start plan provides a single user with all the necessary tools you need to manage your company’s accounting, including the ability to monitor income and expenses, create invoices and payments, claim tax deductions, collect receipts, and track mileage. If you report income on Schedule C of your personal income tax return, this cost-effective option might be best for you. As a bonus, it also includes invoicing tools.
QuickBooks Self-Employed is suitable for freelancers and independent contractors who want to be able to track all their business expenses (such as rent or marketing) in one place. Larger businesses that want access for up to 25 users, advanced reporting and dedicated customer support Self-employed users and independent contractors who report income on Schedule C of their personal income tax returnīusinesses that need inventory tracking, project management and access for multiple users Create budgets and cash flow estimationsĮverything offered with Simple Start plan, plus the following:Įverything offered with Essentials plan, plus the following:Įverything offered with Plus plan, plus the following: Live chat, video tutorials, phone and email supportĮverything offered with Self-Employed plan, plus the following:
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