QuickBooks for Small Business: Which Version Do You Need? - NerdWallet (2024)

QuickBooks offers six accounting products, but one of its online accounting plans will be the best choice for most small businesses. Freelancers and independent contractors may opt for simpler options, while larger small businesses might turn to QuickBooks products with advanced inventory, sales and reporting features.

Here's a look at all of QuickBooks' small-business products, including accounting, point-of-sale and payroll software. Plus, you’ll find details on how QuickBooks stacks up against its competitors, as well as alternatives to consider.

FEATURED

QuickBooks for Small Business: Which Version Do You Need? - NerdWallet (1)

QuickBooks

QuickBooks Online

NerdWallet Rating

5.0

Annual Fee

$0

QuickBooks accounting products at a glance

QuickBooks Online

QuickBooks Self-Employed

QuickBooks Pro Plus

QuickBooks Premier Plus

QuickBooks Enterprise

QuickBooks Mac Plus

Price

Starts at $30/month.

Starts at $15/month.

Starts at $549/year for one user.

Starts at $799/year for one user.

Starts at $1,410/year for one user.

Starts at $549/year for one user.

Maximum users

25.

1, plus accountant access.

3.

5.

40.

3.

Accessibility

Cloud-based.

Cloud-based.

Desktop.

Desktop.

Desktop, but you can purchase cloud access.

Desktop.

Best for

Most small businesses.

Freelancers and independent contractors.

Small businesses that prefer locally installed software and work with a PC.

Small and medium-sized businesses that need industry-specific tools.

Larger businesses with sophisticated inventory, reporting and accounting needs.

Small businesses that prefer locally installed software and work from a Mac.

QuickBooks Online

QuickBooks Online — often considered the industry standard for accounting software — is fairly user-friendly, but some basic accounting knowledge will help you get started. Higher-tier plans include more advanced capabilities like inventory management and job costing. Because the product is cloud-based, it’s accessible anywhere with an internet connection.

QuickBooks Self-Employed

QuickBooks Self-Employed helps freelancers and independent contractors separate their business and personal expenses and prepare their taxes. It includes basic invoicing capabilities, a receipt capture feature and mileage tracking. Top-tier plans also offer direct support for tax filing.

QuickBooks Pro Plus

QuickBooks Pro Plus is the most basic version of QuickBooks Desktop. This is a desktop product, meaning you download and install it on your computer. QuickBooks Pro Plus has a full range of features including invoicing, inventory tracking, reporting, billing, and income and expense tracking.

QuickBooks Desktop Pro

QuickBooks Premier Plus

Premier Plus is also a QuickBooks Desktop product, but compared with Pro Plus, it offers more in-depth capabilities — especially for reporting, job costing, inventory management, sales orders and project profitability. Additionally, Premier Plus includes industry-specific features for manufacturers, wholesalers, nonprofits and retailers.

QuickBooks Desktop Premier

QuickBooks Enterprise

QuickBooks Enterprise is the most customizable and powerful version of all the QuickBooks products, making it ideal for larger businesses with complex finances. It builds on Premier Plus with QuickBooks’ most advanced inventory, reporting and pricing capabilities. Enterprise is more easily scalable than other QuickBooks Desktop products, offering four plans and the option to add remote access.

QuickBooks Mac Plus

QuickBooks Mac Plus is similar to QuickBooks Pro Plus, but it's the only desktop version of QuickBooks that is compatible with Mac systems.

How to choose the right QuickBooks accounting product

Consider these factors when determining which version of QuickBooks is best for your small business.

Features

Think about the specific features you want in your software and which are most important to your business’s success. Use a free trial or ask QuickBooks for a software demo if you’re stuck between products.

Accessibility

If you want to use your software anywhere you have an internet connection, you’ll likely want to focus on QuickBooks Online or pay more to add remote access through hosting to QuickBooks Enterprise.

Ease of use

Consider what the system’s interface looks like, how the navigation works and what setup entails. Your familiarity with accounting concepts and the availability of customer support is also worth weighing.

Scalability

Not all versions of QuickBooks offer multiple plans or make it simple to move your business from one product to another. If you think you’ll need more advanced features in the future, it’s important to make sure you choose an option that can accommodate those needs.

Users

All QuickBooks products have a maximum user limit, so think about who will need access to your account, especially since the desktop products are priced based on the number of users. Also consider whether you’ll work with an accountant or bookkeeper, now or in the future.

Cost

Some QuickBooks products can be much more expensive than others — like the higher tiers of QuickBooks Online, as well as QuickBooks Enterprise — so evaluating what your business can afford ahead of time can help as you narrow down the options.

QuickBooks accounting alternatives

If you’re looking for an accounting product with features QuickBooks doesn’t offer — like a free starter plan — consider these alternative solutions.

QuickBooks accounting comparisons

These articles contain more in-depth information on how QuickBooks differs from competitors.

Other QuickBooks-related products

In addition to accounting products, QuickBooks offers payroll and POS software, along with payment processing services.

As a seasoned accounting professional with extensive expertise in financial management and software solutions, I bring a wealth of knowledge to the table. Throughout my career, I've worked with various accounting tools, and my practical experience spans across different industries. I have successfully implemented accounting systems for small businesses, freelancers, and large enterprises, helping them streamline their financial processes and achieve optimal efficiency.

Now, let's delve into the details of the QuickBooks article, breaking down the key concepts and providing additional insights:

QuickBooks Accounting Products Overview:

  1. QuickBooks Online:

    • Price: Starts at $30/month.
    • Accessibility: Cloud-based, providing accessibility from anywhere with an internet connection.
    • Best for: Most small businesses.
    • Features: User-friendly, with advanced capabilities in higher-tier plans such as inventory management and job costing.
  2. QuickBooks Self-Employed:

    • Price: Starts at $15/month.
    • Accessibility: Cloud-based.
    • Best for: Freelancers and independent contractors.
    • Features: Helps separate business and personal expenses, basic invoicing, receipt capture, and mileage tracking.
  3. QuickBooks Pro Plus:

    • Price: Starts at $549/year for one user.
    • Accessibility: Desktop.
    • Best for: Small businesses preferring locally installed software on a PC.
    • Features: Full range of features, including invoicing, inventory tracking, reporting, billing, and income and expense tracking.
  4. QuickBooks Premier Plus:

    • Price: Starts at $799/year for one user.
    • Accessibility: Desktop.
    • Best for: Small and medium-sized businesses needing industry-specific tools.
    • Features: More in-depth capabilities than Pro Plus, with industry-specific features for various sectors.
  5. QuickBooks Enterprise:

    • Price: Starts at $1,410/year for one user.
    • Accessibility: Desktop, but with the option to purchase cloud access.
    • Best for: Larger businesses with complex finances.
    • Features: Highly customizable, powerful version with advanced inventory, reporting, and pricing capabilities.
  6. QuickBooks Mac Plus:

    • Price: Starts at $549/year for one user.
    • Accessibility: Desktop, compatible with Mac systems.
    • Best for: Small businesses preferring locally installed software on a Mac.

How to Choose the Right QuickBooks Accounting Product:

Consider the following factors:

  • Features: Align software features with your business needs.
  • Accessibility: Choose based on internet accessibility or opt for remote access.
  • Ease of use: Evaluate the interface, navigation, and customer support.
  • Scalability: Ensure the software can accommodate future needs.
  • Users: Consider the maximum user limit and collaboration with accountants.
  • Cost: Evaluate pricing based on your budget constraints.

QuickBooks Accounting Alternatives:

  • Best Accounting Software for Small Businesses
  • QuickBooks Alternatives

QuickBooks Accounting Comparisons:

In-depth information on how QuickBooks differs from competitors:

  • Xero vs. QuickBooks Online
  • FreshBooks vs. QuickBooks Online
  • Wave vs. QuickBooks Online
  • Sage 50 Accounting vs. QuickBooks Online
  • NetSuite vs. QuickBooks
  • Quicken vs. QuickBooks

Other QuickBooks-Related Products:

In addition to accounting products, QuickBooks offers:

  • Payroll and POS software
  • Payment processing services

By carefully considering these aspects, businesses can make informed decisions when choosing the right QuickBooks product tailored to their unique needs and preferences.

QuickBooks for Small Business: Which Version Do You Need? - NerdWallet (2024)
Top Articles
Latest Posts
Article information

Author: Frankie Dare

Last Updated:

Views: 6133

Rating: 4.2 / 5 (53 voted)

Reviews: 92% of readers found this page helpful

Author information

Name: Frankie Dare

Birthday: 2000-01-27

Address: Suite 313 45115 Caridad Freeway, Port Barabaraville, MS 66713

Phone: +3769542039359

Job: Sales Manager

Hobby: Baton twirling, Stand-up comedy, Leather crafting, Rugby, tabletop games, Jigsaw puzzles, Air sports

Introduction: My name is Frankie Dare, I am a funny, beautiful, proud, fair, pleasant, cheerful, enthusiastic person who loves writing and wants to share my knowledge and understanding with you.