About QuickBooks

Category: AR/AP
Providing you can afford its premium features, QuickBooks is excellent for your accounts payable and receivable needs. You can set rules to minimize manual input with an AI-powered transaction matching system. Above all, it is highly regarded in the accounting industry, supporting all commonly used payment options.

Company: Intuit

QuickBooks is an intuitive platform that businesses of all sizes can use to manage their accounts payable and receivable needs. Designed by Intuit Inc., this software helps companies digitalize operations like invoicing, accounts payable, accounts receivables, auto tax computing, and customer data management. It also boasts of winning the Canstar Blue’s Most Satisfied Customers Small Business Accounting Software in 2020 and offers an excellent range of features. QuickBooks is the most popular accounting tool for small as well as large businesses.

In-Depth Analysis

0 Price
0 Features & Functionality
0 Ease Of Use
0 Customer Support

Pros

  • Cloud-based, requires no prior installations
  • Flexible AP/AR operations
  • Flexible AP/AR operations
  • AI powered reconciliations

Cons

  • Average customer support
  • Quite expensive for small businesses
  • Additional cost for better features
Plans & Pricing

Intuit QuickBooks offers five unique plans for intending users or businesses: the Simple Start, the Essentials, the Plus, the Advanced, and the Self-employed. Depending on the category that best suits your venture, you can choose from any of these plans.

Self-Employed
$7.50
/mo
30-day FREE trial
60-day money-back guarantee
Simple Start
$12.50
/mo
30-day FREE trial
60-day money-back guarantee
Essentials
$25
/mo
30-day FREE trial
60-day money-back guarantee
Plus
$40
/mo
30-day FREE trial
60-day money-back guarantee
Advanced
$90
/mo
30-day FREE trial
60-day money-back guarantee

Self-Employed

This QuickBooks package is designed for entrepreneurs who want to take their accounts payable and receivable operations a notch higher than average. It costs $7.50 per month and allows business owners to track their miles and cash flows, manage receipts and quarterly task estimates, and run elementary reports.

Simple Start

This package is designed for small startups that would rather digitalize a fraction of their accounts payable and receivable operations. It costs $12.50 per month and allows users to track their income and expenses, pay bills, receive payments, manage cash flows, and maximize tax deductions. Users can also control their receipts and 1099 contractors, track their miles and sales tax, and run basic reports on this plan.

Essentials

In addition to the features of the Simple Starts package, the QuickBooks Essential Package allows three users to manage bills and track transaction time. It costs $25 per month and is ideal for small businesses with average accounts payable and receivable needs.

Plus

The QuickBooks Plus package features everything captured in the Essential package. However, it comes at a monthly cost of $40 and allows up to 5 users to track business inventory and project profitability.

Advanced

QuickBooks Advanced allows up to 25 users to access the full features of the Plus plan alongside other features. At $90 per month, users can process batch expenses and invoices, automate workflows, and customize individual access based on roles. Businesses that subscribe to this plan also enjoy analytics and forecasts, online training, and private account teams.

Ease of Use

QuickBooks is a cloud-based solution and requires no server downloads or file installation before use unless you intend to use the Desktop version. With good internet connectivity and a supported browser, you can access your QuickBooks account from wherever you are.
QuickBooks also has desktop and mobile applications for Macs and Windows and Android and iOS, respectively. It is relatively easy to use, and you can quickly locate its different features from its dashboard. And while some features may need some extra effort to find, the ‘help’ button can help you locate whatever you want within a short time.

Customer Support

Intuit offers a range of options in terms of customer support. And while a lot of users attest that the support could be better, users still get to enjoy premium support in the following ways:

Additional support includes:

Blog:
QuickBooks users can also get more information through educational blogs published on the website.

Resource center
QuickBooks also has a resource center where users can gain insights into different business-related issues.

24/7 Help & Support
24/7 Help & Support
There is 24/7 support available to all users.
Phone Support
Phone Support
Support via phone calls by calling the QuickBooks sales center.
Live Online Chat
Live Online Chat
Online support via live chat is also available for users
Video Tutorials
Video Tutorials
Video tutorials & webinars to help users navigate the platform.
FAQ
FAQ
FAQs are also available to provide quick answers about software.
Features & Functionality
General Features

Accounts Payable features:

Purchase Orders

With QuickBooks Online, you can initiate purchase orders and also convert them to bills. You can also readily record your payments for future use.

Check Creation and Printing

Irrespective of how your vendors or suppliers want their checks – electronic or paper – QuickBooks has you covered. By simply entering the details of your payment checks, you can create and send checks without leaving your QuickBooks page. And if your vendors would rather have paper checks, the ‘Print Checks’ option of this software allows you to easily convert your e-checks to paper checks for flexibility.

Vendor Dashboard

QuickBooks offers an easy way to stay on top of your payments. The vendor dashboard shows you your purchase orders and bills at a glance. From this dashboard, you can figure out the bills that are open, paid, or unpaid.

Accounts Receivable features:

Sales Receipts

This software generates a receipt for transactions on which your customers have paid you. Instead of manually recording your sales or writing out receipts, the software automatically creates a receipt for your customers’ payments.

Client Portal

QuickBooks creates a unique page for your business on your customers’ portal to eliminate delays from your receivables. From this page, they can assess and respond to the invoices you send to them without hesitation.

Features
  • 1099 Preparation
  • Accounts Payable
  • Accounts Receivable
  • ACH Payment Processing
  • Approval Process Control
  • Approval Workflow
  • Bank Reconciliation
  • Billing & Invoicing
  • Billing Portal
  • Bookkeeping Services Integration
  • Cash Management
  • Check Processing
  • Check Writing
  • Client Management
  • Contact Database
  • General Ledger
Advanced Features

Invoicing

In addition to providing six different customizable invoice templates, QuickBooks runs several invoice automation for the users. You can import your current templates and edit them as required.

With QuickBooks invoicing, you can automate recurring invoices, send batch invoices, and auto-schedule already-created ones. Invoicing on this software is also very interesting because you can send and track invoices in six languages, English inclusive, and send friendly reminders to clients.

Features
  • Financial Reporting
  • Mobile Payments
  • Multi-Currency
  • Online Invoicing
  • Recurring Invoicing
  • Quotes/Estimates
Billing Features
Features
  • Hourly Billing
  • Multi-Period Recurring Billing
  • Multiple Billing Rates
  • Project Billing
  • Recurring/Subscription Billing
Tax Preparation
Features
  • Accountant-prep Friendly/Accessible
  • Manage Tax Calculations/Reporting
  • Tax Compliance
Add-Ons

QuickBooks gives you the freedom to use the apps your business relies on for smooth running. It allows integration with over 650 different business solutions. With the QuickBooks Advanced package, you also get to enjoy Fathom integration free of charge. Furthermore, developers can carry out other customizations on this software using API.

Features
  • Payment Processing
  • Payroll Processing
  • Project Management
  • Time tracking
  • Third-party Integrations
Devices Supported
Features
  • Android
  • iPhone/iPad
  • Linux
  • Mac
  • Web-based
  • Windows
Pricing Model
Features
  • Monthly Payment
  • One-Time Payment
  • Annual Subscription
Verdict

Of the numerous accounts payable and receivable solutions on the market, QuickBooks ranks among those that consider small-scale entrepreneurs in their design. Its intuitive, flexible design also allows small businesses to thrive amidst competition without neglecting their accounting needs. Its ability to complete AP/AR processes efficiently also makes it an excellent choice for businesses.
The broad integration circle of this software also makes it worthwhile. You can actively receive and make payments via your choice platforms and view your checks and invoices in your choice formats. Its vendor and customer data management, alongside its tax and payroll management, makes it stand out among several similar software.

Murad Jaffery
Author: Murad Jaffery
Murad Jaffery is a chartered accountant specializing in the field of accounting and finance. He has been writing on these areas for nearly a decade, and is also an accounting tutor. He holds master’s degrees in accountancy and English literature. Murad enjoys traveling and reading.
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