Choosing the best software for bookkeeping depends on your business size, reporting needs, and how much automation you want in your financial process.
I might be a little biased because I’m QuickBooks ProAdvisor certified, but I think that QuickBooks Online is the best software for bookkeeping. While, I “grew up” using QuickBooks Desktop, and can use QuickBooks Desktop and QuickBooks Online pretty much with my eyes closed, I strongly prefer QuickBooks Online to QuickBooks Desktop for many reasons.
As a bookkeeper, you can easily see all your clients books in QuickBooks Online. As a business owner, you can look at your books whenever you want, and there is even a QuickBooks Online app that enables you to make an invoice on-site, or pay a bill from your phone. With QuickBooks Online you can connect all your bank accounts and credit cards and it will download the transactions automatically into the banking section of QuickBooks Online which is a holding area. You simply go in there and categorize the transactions. If you have a small company and not a lot of time to do your bookkeeping yourself, if you connect the bank accounts and credit cards that you want to track and, later, go back a few months all the information is there without doing hours of data entry that you would have to do in QuickBooks Desktop or other software.
Of course, there are more bookkeeping software platforms, such as Xero, Freshbooks, and others. I’ve used quite a few of them, but I still prefer all of the functionality offered by QuickBooks Online. The customer service, integrations, and apps that work with QuickBooks Online are so user friendly that I recommend it over the others.
There are different prices for different levels of Quickbooks Online. If you’re a brand-new company, you would want to sign up for QuickBooks Simple Start.
Quickbooks has an ugly stepchild called QuickBooks Self-Employed that I dislike immensely, as most bookkeepers do. I would not recommend that option unless you have a side hustle and you are selling things on Etsy and only need to know if the expenses are business or personal. That is about all you can do with Self-Employed, and I would take that one off the table and just start with QuickBooks Simple Start, the least expensive one at about $25 a month.
If you have a company making millions of dollars a year, you’re going to want QuickBooks Online Advanced because you have more transaction types that you need to track.
There are also different versions in between, as well as Payroll, which you can get separately. There are many different functions that integrate with Quickbooks Online.
I’m a QuickBooks Online nerd, guru, hanger-onner. I love it.
Let me know if you need any help with your Quickbooks or switching to Quickbooks Online!
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Maya Weinreb | Founder & CEO
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Frequently Asked Questions
What is the best bookkeeping software for small businesses?
The best bookkeeping software depends on your business needs, transaction volume, reporting requirements, and budget. QuickBooks Online is a popular choice because it offers strong accounting features, integrations, automation, and accessibility for both business owners and bookkeepers.
Is QuickBooks Online better than QuickBooks Desktop?
Many businesses prefer QuickBooks Online because it is cloud-based, allows access from anywhere, connects easily with banks and apps, and makes collaboration between business owners and bookkeepers easier.
Can I do my own bookkeeping with QuickBooks Online?
Yes. QuickBooks Online is designed to help business owners manage income, expenses, invoices, and reports. However, proper setup and categorization are important because incorrect bookkeeping can lead to inaccurate financial information.
What are some alternatives to QuickBooks Online?
Other bookkeeping software options include platforms such as Xero, FreshBooks, and other accounting tools. The right choice depends on your business size, industry, required features, and how you prefer to manage your finances.
Is QuickBooks Self-Employed the same as QuickBooks Online?
No. QuickBooks Self-Employed is designed for simpler situations, such as tracking income and expenses for freelancers or side businesses. Businesses that need full bookkeeping features, financial reports, and growth support may benefit from QuickBooks Online.
Should I set up my bookkeeping software myself or hire a bookkeeper?
While many business owners can set up bookkeeping software themselves, professional setup can help ensure accounts are structured correctly from the beginning. A bookkeeper can also help with ongoing categorization, reconciliations, and accurate financial reporting.
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