What kind of accounting software do you recommend?
I have been asked many times over the past 14 years in my Bookkeeping business. “What type of accounting software do you use or recommend? This is a great question and I know there are many out there to choose from.
I typically always refer everyone to QuickBooks. I have used QuickBooks for well over 14 years in my own business. It really is user friendly and has a wide range of functionality that certainly can support you in keeping your finances and day to day accounting in order.
QuickBooks has you covered for all the basic functions of accounting, such as tracking your income & expenses. More advanced functions such as: invoicing clients and accepting payments, running reports, sending estimates, tracking sales & sales tax, managing bills, managing 1099 contractors, paying employees, tracking inventory, and more.
Not every business requires all the functions listed above. Chances are that if you are a service-based business, you won’t need to track inventory. Alternatively, if you are a larger company or in the retail industry you may need to track inventory, pay employees and more.
QuickBooks Desktop is a one-time purchase accounting software to be installed on your desktop computer. The Desktop version is great for those that either don’t want or need the availability to have your accounting accessible on the go. Although most people these days are online with most of their daily lives, some absolutely do not want to have their personal or business data online for the potential risks involved.
“What’s the difference between QuickBooks Desktop and QuickBooks Online?
QuickBooks Desktop is a one-time purchase accounting software for businesses who need robust inventory management, job costing, and industry-specific features and reporting.
While many of the features are similar, QuickBooks Online is our cloud-based subscription service that provides the flexibility to take care of business anytime, anywhere.
QuickBooks Online is a cloud-based subscription service. You can access QuickBooks Online from a laptop, tablet, or mobile device. It also supports multi-user access to enable more than one person to access your account with ease. This includes 2 accountant users. Which could be a bookkeeper and an accountant.
It is a great option and has really come a long way as far as the ease of use and functionality. Up until the past year or two, I absolutely never wanted to use the online version. I was so stuck to the desktop version, knew all the ins and outs, and loved all the functions available. QuickBooks really listened to the feedback and stepped up to the plate to offer a great accounting platform.
One of the best features, and biggest time savers I really love about the online version is the ability to import transactions from your bank, credit card, PayPal, Square and more accounts. This saves a GINORMOUS amount of time!! Seriously y’all. I love, love, love that there is no more entering each expense, line by line, item by item by hand. The information is brought over (or synced/transferred over) for you. All you have to do is make sure the vendor name and expense account are correct and hit the ”Add” button. It really is that simple – LOVE IT!
Pricing for the desktop version is a one-time fee and should be renewed for best practices every 3 years to keep up with the latest updates. After 3 years, intuit stops supporting older versions and suggests you purchase the newest version for all the features available.
Alternatively, the online version is a monthly subscription based fee that typically offers a 30-day free trial option and a discount for the first 3 months. Prices vary depending on the level of accounting needs you have.
I use QuickBooks Online to run a better business. Use my referral link to get up to 50% off and a $50 Visa® Card to help with your business needs when you sign up! https://www.referquickbooks.com/s/Lisa448. Yes, this is an affiliate link, I use QuickBooks online for my bookkeeping business and wanted to pass the savings on to you if you are able to use it 😊
QuickBooks also offers a payroll platform to help keep you in line with paying your employees on time, filing your tax reports, paying your payroll taxes, and issuing year end W-2’s required. This works hand in hand with the online version and has all your information in one place.
Of course, to me these are all great features and easy to use. But let’s be real, I’ve been using this platform for many years and know it quite well. If you have the time and the desire to learn, you can be working in this in no time. There is free training and of course always YouTube…you can find anything on YouTube. Or you can hire a knowledgeable bookkeeper to help you get started or handle it for you.
Either way, I urge you to keep track of your business finances throughout the year to make tax season much easier for you and your CPA. QuickBooks really is a wonderful tool to provide all you need for your accounting needs.
**From the Intuit site: https://quickbooks.intuit.com/products/