This movie explains the differences between the three editions of QuickBooks Online: QuickBooks Online Simple Start, QuickBooks Online Essentials, and QuickBooks Online Plus, including the number of reports, how many people can access data simultaneously, and features such as managing bills and tracking inventory.
- You're still here? Great, that means you've decided to go with Quickbooks Online. Your next step is choosing the online edition that meets your bookkeeping needs and budget. Quickbooks Online comes in three flavors, Simple Start, Essentials, and Plus. The Simple Start edition is bare bones, it might work if you have a mom and pop shop with the simplest of bookkeeping needs. You know, recording and printing checks, creating and sending invoices, and tracking performance with a handful of built in reports.
With Simple Start only one person can access your data at the same time, but it's price tag is about half that of the Essentials edition. Speaking of Quickbooks Online Essentials, it's the most popular choice. In addition to the basics, you can schedule recurring transactions, you can also manage bills from your vendors and set them up to pay later. This edition has about twice as many built in reports as Simple Start, and up to three people can use your Quickbooks Online account simultaneously.
You can also control what each user can do. Quickbooks Online Plus is the third choice and the one with the most features. You can create purchase orders for the goods you buy, you can track inventory, to an extent, you can create and print 1099's, and employees and sub contractors can record the time they work. In addition to a few other nice to have's and even more built in reports, up to five people can access your data simultaneously.
Those are the differences between the online editions in a nutshell. If you're not sure your best bet is to start with Quickbooks Online Essentials, if you find you need more bookkeeping horsepower, you can always upgrade to Online Plus, or move to Quickbooks Desktop.
- Choosing a QuickBooks Online edition
- Creating an account
- Setting up customers and vendors
- Setting up products and services, billable expenses, and time tracking
- Paying bills
- Creating invoices
- Receiving payments
- Handling refunds
- Setting up online banking accounts
- Running reports
- Paying sales tax
- Automating recurring transactions