QuickBooks® Online Pricing & Free Trial Official Site

It’s also a better pick if you have numerous big projects in the works that you want to assess for profitability. Protect sensitive data with user-level access to specific features and share reports with up to 3 log-ins. Automatically sort business expenses into the right tax categories to keep more of what you earn at tax time. Automatically sort transactions from connected accounts into tax categories for easy organization. Show detailed sales, accounts receivable, and accounts payable reports to make better decisions.

Check For A QuickBooks Online + Payroll Bundle Discount

It’s especially beneficial for those in the construction industry who must manage multiple projects, track expenses accurately, and maintain streamlined financial records. The features that are available in QuickBooks Plus but not QuickBooks Essentials include inventory management, project profitability and financial planning. You also get more users and sales channels, going from three of each to five users and unlimited channels. The Plus plan comes with everything in the Essentials plan plus inventory management, project profitability and financial planning. The inventory management feature is for e-commerce businesses or other product-selling businesses, as it tracks stock levels, creates purchase orders and manages vendors.

QuickBooks Online

However, there are a few useful reports only Plus has that you might expect to find in Essentials, such as uninvoiced time, 1099 transactions and budget overviews. It’s worth taking a closer look at the included reports list to see if there’s anything you’d be missing out on if you chose Essentials over Plus. Paying your freelancers is also easy thanks to 1099 contractor management features. Come tax day, Essentials lets you send out 1099s right from the app.

Getting Started with QuickBooks Essentials

1. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
2. All plans (except QuickBooks Simple Start) come with an unlimited number of time-tracking-only users.
3. QuickBooks Online’s simple, understandable user interface makes it easy to create records for customers and vendors and track transactions.
4. The app even sends you notifications when your inventory is low so you can reorder promptly.
5. QuickBooks now offers a free small business checking account called QuickBooks Checking (formerly known as QuickBooks Cash).
6. However, there are a few useful reports only Plus has that you might expect to find in Essentials, such as uninvoiced time, 1099 transactions and budget overviews.

Plus, on the other hand, is for product- or service-based businesses that want to keep track of inventory, create purchase orders and manage project profitability. Because of these added functions, it also comes with slightly more advanced reporting. If so, QuickBooks is one of the most popular names in the game.

The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships. QuickBooks Solopreneur (formerly known as QuickBooks Self-Employed) costs $20/month or $120 for the first year. This software is best suited for freelancers, allowing them to track income and expenses, track mileage, estimate quarterly taxes, and run basic reports.

QuickBooks Online Essentials and QuickBooks Online Plus offer distinct features tailored to different business needs. The Essentials plan suits businesses in any industry that have just surpassed the start-up phase, needing a few more accounting features than a base plan offers. Coupled with the additional features is more users and sales channels. You go from three to five users and three to unlimited sales channels. The unlimited sales channels, in particular, add to this plan being calculate estimated tax payments and associated penalties for e-commerce businesses. When it seems like there is a business software application for everything, it pays to be choosy.

Let’s build your business together

It can track bills, capture receipts, send invoices and accept what is the difference between an unadjusted trial balance and an adjusted trial balance payments. You also get three users and three sales channels — an upgrade from one each in the base plan. If you’ve never used a cloud-based financial solution – or any accounting application at all – it would be wise to invest some time and money in a credible QuickBooks course. Ease-of-use has always been one of QuickBooks distinguishing features, and the new user interface launched recently for the online version simplifies it even more.

The table shows that Essentials has basic accounting features for businesses in any industry. As you go up to the Plus plan, you get inventory management, unlimited sales channels and other features tailored to e-commerce businesses. QuickBooks is a well-established accounting software that is widely used by businesses from a variety of default on a payment definition and meaning industries.

QuickBooks Essentials quickly stood out as an essential tool for managing the business efficiently. Its intuitive design and features, like easy receipt scanning and financial management through an app, made it a perfect fit for Nicole’s busy lifestyle. The software enabled her to keep all her finances in one accessible place, streamlining the management process and saving valuable time. The Plus plan, on the other hand, caters to larger teams that need more advanced features, such as inventory management and financial planning.