QuickBooks Online Review: Pros, Cons, Features & Pricing
QuickBooks Online is an accounting software designed to streamline accounting and financial management for businesses. It best serves small to medium-sized enterprises, freelancers, and accountants who need efficient bookkeeping automation.
In this article, you'll learn about QuickBooks Online's features, pros and cons, best and worst use cases, and pricing. Whether you're an accountant or a small business owner, this review will help you find the right fit for your financial goals.
QuickBooks Online Evaluation Summary
- From $19/user/month
- 30-day free trial
Why Trust Our Software Reviews
QuickBooks Online Overview
In my opinion, QuickBooks Online is a valuable solution for small to medium-sized businesses looking for reliable accounting software. It offers advanced features that handle everyday accounting tasks efficiently, though it can be pricey compared to some competitors.
The software’s ease of use and integration capabilities make it suitable for businesses that want a straightforward solution without the need for extensive customization. However, if you're seeking more advanced project management features, you might find it lacking.
Overall, QuickBooks Online is a dependable option for those prioritizing a user-friendly interface and detailed support.
pros
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It offers advanced reporting tools for better financial insights.
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Your team will appreciate the intuitive and user-friendly interface.
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You can easily track expenses and income in real-time.
cons
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You might find the customer support response times can be slow.
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You may experience limitations with the mobile app's functionality.
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Some users report occasional glitches when navigating complex features.
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How We Test & Score Tools
We’ve spent years building, refining, and improving our software testing and scoring system. The rubric is designed to capture the nuances of software selection and what makes a tool effective, focusing on critical aspects of the decision-making process.
Below, you can see exactly how our testing and scoring works across seven criteria. It allows us to provide an unbiased evaluation of the software based on core functionality, standout features, ease of use, onboarding, customer support, integrations, customer reviews, and value for money.
Core Functionality (25% of final scoring)
The starting point of our evaluation is always the core functionality of the tool. Does it have the basic features and functions that a user would expect to see? Are any of those core features locked to higher-tiered pricing plans? At its core, we expect a tool to stand up against the baseline capabilities of its competitors.
Standout Features (25% of final scoring)
Next, we evaluate uncommon standout features that go above and beyond the core functionality typically found in tools of its kind. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.
We also evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Tools offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.
Ease of Use (10% of final scoring)
We consider how quick and easy it is to execute the tasks defined in the core functionality using the tool. High scoring software is well designed, intuitive to use, offers mobile apps, provides templates, and makes relatively complex tasks seem simple.
Onboarding (10% of final scoring)
We know how important rapid team adoption is for a new platform, so we evaluate how easy it is to learn and use a tool with minimal training. We evaluate how quickly a team member can get set up and start using the tool with no experience. High scoring solutions indicate little or no support is required.
Customer Support (10% of final scoring)
We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Tools and companies that provide real-time support score best, while chatbots score worst.
Customer Reviews (10% of final scoring)
Beyond our own testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the tool again for the core functionality. A high scoring software reflects a high net promoter score from current or past customers.
Value for Money (10% of final scoring)
Lastly, in consideration of all the other criteria, we review the average price of entry level plans against the core features and consider the value of the other evaluation criteria. Software that delivers more, for less, will score higher.
Core Features
Expense Tracking: You can easily monitor and categorize your business expenses in real-time. This helps in maintaining accurate financial records and simplifying tax preparation.
Invoicing: Create and send customized invoices to your clients quickly. This feature lets you track payments and manage cash flow effectively
Reporting: Generate comprehensive financial reports that offer insights into your business's performance. With this feature, you can make informed decisions based on real-time data.
Bank Feeds: Connect your bank accounts to import transactions automatically. This saves you time and reduces manual data entry errors.
Payroll Management: Manage your team's payroll with ease, ensuring timely and accurate payments. You can also handle tax calculations and filings seamlessly.
Inventory Management: Track your inventory levels and manage stock efficiently. This helps you avoid stockouts and overstocking.
Ease of Use
QuickBooks Online is generally user-friendly, but you might find certain features slightly challenging at first. Its intuitive user interface helps you navigate tasks like invoicing and expense tracking with ease. However, complex functions like advanced reporting can take a bit longer to master.
Despite this, the platform's overall layout simplifies your accounting tasks, making it a solid choice for those who prefer straightforward solutions. Your team will appreciate the time saved on routine financial management.
Integrations
QuickBooks Online integrates natively with Amazon Business Purchases, PayPal, Square, Etsy, Amazon Seller, eBay, Shopify, SOS Inventory, QuickBooks Time, and Gusto.
QuickBooks Online also offers an API and connects with third-party integration tools like Zapier.
New Product Updates from QuickBooks Online
QuickBooks Online Checking Account
This release brings banking, saving, and payments into QuickBooks Online so you can manage money and bookkeeping without switching apps. Here are the details:
- QuickBooks Checking account: Simplifies banking by letting you open and manage a business checking account directly inside QuickBooks.
- Instant deposits with no extra cost: Funds from QuickBooks Payments go into your account immediately without any fees.
- Envelopes for savings and 3.00% APY: Helps you set aside money for expenses while earning interest, supporting your financial goals.
Visit QuickBooks Online's website for more details.
QuickBooks Online: Dispute Protection, Invoice Tips, Excel Sync
QuickBooks has rolled out new updates designed to give businesses more protection, flexibility, and efficiency in handling payments and reporting. The latest features cover automatic dispute protection, invoice tipping options, and Excel integration for advanced data management. Here's a look at each in more detail:
- Dispute Protection: QuickBooks now automatically covers credit and debit card disputes (chargebacks) with no documentation required, offering up to $10,000 per dispute and $25,000 annually, with a small added processing fee.
- Tips on Invoices: Customers can now leave tips directly on invoices, keeping all payments in one place, making it easier for clients to show appreciation and ensuring accurate bookkeeping.
- Excel Sync: QuickBooks Online Advanced can now sync with Excel, allowing users to add or edit data in bulk, use templates, build multi-company consolidated reports, and refresh data instantly for more powerful reporting.
Visit QuickBooks Online’s official sitefor more details.
QuickBooks Online Specs
- 2-Factor Authentication
- Accounts Payable
- Accounts Receivable
- API
- Balance Sheet
- Billing/Invoicing
- BitCoin
- Budgeting
- Calendar Management
- Contact Management
- CRM Integration
- Customer Management
- Dashboard
- Data Export
- Data Import
- Data Visualization
- Expense Tracking
- External Integrations
- Forecasting
- General Account Ledger
- Inventory Tracking
- Multi-Currency
- Multi-User
- Notifications
- P&L
- PayPal
- Payroll
- SAP Integration
- Stripe
- Supplier Management
- Tax Management
