Financials are a major component of business success. Some of the most important business metrics are:
- and, Expenses
If you don’t have a good way of measuring these metrics, you’re decisionmaking could be incongruent to where you are. The financials serve as a GPS that tells you where you should go next in the business, and without a good accounting solution, you won’t have clarity about how much is going out, how much is coming in, and the best decisions to make as a result.
Quickbooks is one of the most popular accounting solutions. They help to compile pertinent metrics, so business owners can have an accurate perspective of their businesses. Though they’re popular, they’re not the best solution for everyone, and they may or may not be the best accounting solution for you. In this Intuit Quickbooks Online review, I will give you:
- What it is
- How it works
- Pros and Cons
- What it does well and what it does not
- What others are saying (good and bad)
- My Recommendation
- And, Alternatives (in case you want to do some comparison shopping)
My goal is to help you decide if Intuit Quickbooks Online is a good fit for you. If you decide at any point you want to skip the remainder of the review and TRY INTUIT QUICKBOOKS ONLINE OUT FOR YOURSELF, you can CLICK HERE TO CREATE YOUR ACCOUNT.
- 1 What is Intuit Quickbooks Online? An Overview
- 2 How Does Intuit Quickbooks Online Work?
- 3 How Do I Get Started with Intuit Quickbooks Online?
- 4 Who is Intuit Quickbooks Online For?
- 5 Intuit Quickbooks Online Tools & Training
- 6 Intuit Quickbooks Online Support
- 7 What Does Intuit Quickbooks Online Do Well
- 8 What Doesn’t Intuit Quickbooks Online Do Well
- 9 Intuit Quickbooks Online Review Roundup
- 10 Intuit Quickbooks Online Price
- 11 My Final Opinion of Intuit Quickbooks Online
- 12 Top Alternatives
- 13 VERDICT: Recommend
- 14 Intuit Quickbooks Online
- 15 Pros
- 16 Cons
What is Intuit Quickbooks Online? An Overview
It’s likely that if you’ve done reading on accounting, you’ve heard of Quickbooks, but it’s less likely you know:
- Intuit was founded in 1983 by Steve Cook and Tom Proulx
- Intuit, the Maker of Quickbooks, is also the creator of TurboTax and Quicken
- Quickbooks launched in 1992, and continues to update their product to be useful to more business owners
- Quickbooks has dominated the market share in accounting software for nearly two decades
- 600,000 accountants use Quickbooks
- Estimates put the company at 80%-90% market share serving over 29 million businesses
After 34 years, Intuit is still reinventing itself in order to remain a market leader in the accounting solution space. Now, they offer an online cloud-based solution as well as a desktop solution. All of their accounting solutions, integrate with hundreds of other software (from tax software, timekeeping, inventory management, etc.), so it makes Quickbooks the optimal choice for many businesses.
How Does Intuit Quickbooks Online Work?
Quickbooks works because it enables you to link bank accounts or manually enter financial data. Once the data is input into Quickbooks, it categorizes the expenses, so you can get a clear view of where you’re money is going. With the data input and the expenses categorized, Quickbooks can be used to make reports like profit and loss statements, cashflow statements, and others that can help you to evaluate your financial standing in the business.
Quickbooks Desktop vs. Quickbooks Online
Some people prefer Quickbook Desktop and others prefer Quickbooks online, so a common question that people considering Quickbooks ask is, “Which one is better Quickbooks Desktop or Quickbooks Online?”. Unfortunately, it’s not a one-size-fits-all answer. They both are great programs with different features. This video really breaks down the differences between Quickbooks desktop and Quickbooks online very well:
To summarize, here are some of the perks that Quickbooks Desktop Offers that Quickbooks Online does not:
- No subscription
- Automatic sales receipts
- Split transactions
- Scheduled invoices
- Must be downloaded, so there’s hardware requirements
- and, location and class categories
In contrast, here are some of the benefits Quickbooks Online Offers:
- Mobility because it’s cloud-based
- Easier collaboration
- Easier to use, less of a learning curve
- Cloud-based so there’s no hardware requirements (accept to print checks)
It’s really a preference based on how you’ll be using the software. For more help deciding if Quickbooks Desktop or Quickbooks Online is best for you, TAKE THIS SHORT QUICKBOOKS QUIZ.
How Do I Get Started with Intuit Quickbooks Online?
Quickbooks does have a learning curve, but if you really want to organize your finances, and understand your financial standing, it’s worth it. To get started with Quickbooks, you have to:
1. Pick Your Plan
Quickbooks has three plans: Simple Start, Essentials, and Plus. Each plan has different features, so you’ll have to choose your plan based on which features you’re likely to use. Quickbooks gives you the option to either have the 1ST YEAR 50% OFF or to have a 30 DAY FREE TRIAL when you go HERE If you want to experiment, try it out, and see which plan would be suitable for your needs, I recommend trying the 30 DAY FREE TRIAL OPTION, so you can give it a test drive.
2. Create Your Account
After you’ve chosen your plan, you’ll need to create your Quickbooks account by entering some personal information such as:
- Company Name
- How long have you been in business
- and more…
3. Customize Your Quickbooks Account
To customize your Quickbooks account, you’ll want to input the details of your business, the color palette, and the logo. Customizing your account will enable you to have continuity in your branding (even on your invoices and estimates). You’ll also be able to link your accounts, so the Quickbooks dashboard can accurately show your business financial metrics.
This video by a Quickbooks Pro Advisor is helpful if you’re considering Quickbooks, but you want to see how you would set it up:
Who is Intuit Quickbooks Online For?
Quickbooks works best for:
- Small and medium-size businesses
- Those who need an accounting solution
- Those who have tried a software like Freshbooks, but have found it too simple
- People who want to organize their business finances
- People who want to easily create financial statements
- Those who want an easy way to manage business finances for others
Intuit Quickbooks Online Tools & Training
Quickbooks offers a blog and several video training tutorials to help you learn to use Quickbooks effectively. You can TAKE A LOOK AT THEIR VIDEO TUTORIALS HERE.
Intuit Quickbooks Online Support
Quickbooks is working to improve their customer support. Currently, they offer a blog, resource center, live chat, phone support, and classes to help customers and potential customers navigate challenges with Quickbooks.
What Does Intuit Quickbooks Online Do Well
- There’s a large network of accountants who are familiar with Quickbooks
- Quickbooks enables you to give access to your accountant, so they can work on your books remotely
- They integrate with very popular softwares like tax software, CRM software, HR software, and others to make operating your business easy
- They’ve made a cloud-based solution so you don’t have to download software if you don’t want to
- Performs cash basis and accrual accounting
- Invoice tracking
- Schedulig invoices
- Quickbooks is very versatile across industries
What Doesn’t Intuit Quickbooks Online Do Well
- Customer complaints suggest that it’s difficult to transition from Quickbooks to another accounting software after regular use
- Customers say that the support options aren’t adequate, so it’s slow to reach a support representative
- Reviews suggest that Quickbooks doesn’t work as well in Manufacturing-style businesses
Intuit Quickbooks Online Review Roundup
As the market leader in accounting software, Quickbooks has lots of customer reviews. They have 1716 reviews at 3.9-star average rating on G2Crowd. 10.9K ratings with an average 4.4/5 on Itunes. Here’s a roundup of reviews I’ve found on Quickbooks that I think would be helpful for you as you’re making a decision to choose quickbooks or not.
Most Helpful Positive Intuit Quickbooks Online Review
A reviewer named Sherry G. at Capterra said this about Quickbooks:
“I’ve been using Quickbooks since 1995”
Pros: I like how easy it is to keep track of my check register, vendors, customers, do my payroll every week, enter and pay bills and find things when necessary. It is a reliable accounting software that is used by millions of people, so it is pretty easy to take my reports in to my accountant each year and have her do my taxes. I own a small business with 4 or more employees and QuickBooks has made it possible for me to do my own books all these years and keep better track of what is going on with our finances.
Cons: I am not wild about the way that the payroll add on renews. You have to buy an additional module or what ever you want to call it to keep the payroll tables updated. For some reason the updating can be very iffy and I will go to do my payroll and suddenly can’t do it. Of course, this only happens when there is a time crunch and I need to quickly whip out some paychecks. But, for the most part the software works so well that I forget about this problem fairly easily.
Overall: I’ve had a wonderful experience with QuickBooks over the years. I have to buy the updates, but I find somewhere online that I can get the latest for less than buying it direct and I am able to keep my version pretty up to date. Using a different and early DOS accounting software was so complex that I couldn’t even figure out how to open up the software and get started! I cut my losses and purchased QuickBooks. I took a local course on how to use QuickBooks and was off to the races immediately. If you are not really terrific with software, it might be a good idea just to pay someone like an Enrolled Agent to come in and install the QuickBooks for you and get your accounting set up. Later on, when you’ve been working on the software for years, it is worth it to have started out correctly with some professional help.
I have my accountant come into my office every year or two and go over my books to make sure everything is looking good, entrances are correctly attributed and so on. That gives me a good feeling that I know I can rely on my information in QuickBooks. Anyway, I do recommend this software.
I am a computer professional, a web developer, but was a CPA secretary, went through a Word Processing course in the early 1980s, then became a Paralegal and continued my computer education at the University here, then went into business with my husband, so I’m quite familiar with QB.
Most Helpful Negative Intuit Quickbooks Online Review
A Capterra reviewer by the name of Perry G. left this review:
Pros: QuickBooks does everything I need it to do, simple input (after my accountant set it up), some nice reports, easy to read screens, and easy for me to produce P&L for myself and taxes.
Cons: Terrible support. I had issues with some items and waited for hours on hold, spoke to people with such strong accents I could not understand them. I was actually stuck and could not work and asked to be escalated to North American support- – they said they could not do that. The offered me a manager and hung up on me. I called the corporate office and even sent letters, and never got any responses. Very frustrating when you spend this kind of money and the support is not there.
Overall: I actually stopped using it and moved over to Sage software. When the program would not open to wait for 90 minutes on hold for support is not business functional. The product is good when it works, but if you have any issues, be prepared to stop your business.
Intuit Quickbooks Online Price
Quickbooks Online has 4 pricing options: simple, essentials, plus, and self-employed. They range in price from $5-30 per month unless you add additional features like basic or full-service payroll. SEE MORE ABOUT QUICKBOOKS PRICING.
My Final Opinion of Intuit Quickbooks Online
Overall, Quickbooks is a market leader for a reason. They have a very good software that’s helpful to millions of small business. The software is versatile across industries, so it can work well for construction companies and retail companies alike, which makes it ideal for accounting professionals managing several clients. If you’re interested in giving Quickbooks a try, SIGN UP FOR A 30-DAY FREE TRIAL HERE.