Having the right Quickbooks Online subscription for your business is essential. You certainly don’t want to pay more than you need, nor do you want to cut yourself short. QBO subscriptions are available in a wide range of pricing, and although the cost might be a consideration, it shouldn’t be the sole determining factor. Each business has its own set of bookkeeping essentials that should be tracked. Compare the subscriptions below to see which solution is right for you.

Simple Start

First, I am going to go through the “Simple Start” subscription of QuickBooks Online. This is only $25 per month, and it is best suited for small businesses. If your business is a one-man show, this would be perfect for you. Even though you only have access to one user, you are still able to track income and expense, maximize tax deductions, manage cash flow, create invoices, and run general reports! You are also able to manage your 1099 contractors with this subscription. If you want your new small business to start off on the right foot, this would be a perfect subscription for you. You will have access to all the basics you will need to get your business up and running smoothly.

Simply Start Overview

  • $25 per month
  • 1 user
  • Track income and expenses
  • Maximize tax deductions
  • Manage cash flow
  • Create invoices
  • Run general reports
  • Manage 1099s
  • For small businesses

Essentials

The “Essentials” subscription is for a small to medium-sized business. Here, you will receive all of the benefits from the “Simple Start” subscription, plus a few additional perks. With Essentials, you are granted the ability to have 3 users, instead of only one. This is great if you have separate employees for Accounts Receivable and Accounts Payable. Here, you are also able to manage and pay bills, track your employee’s time, or track billable hours by the client. The Essentials subscription will cost $40 per month.

Essential Overview

  • $40 per month
  • 3 users
  • Simple Start benefits`
  • Manage and pay bills
  • Track employee’s time
  • Track billable hours by the client
  • For small to medium-sized businesses

Plus

The most popular subscription within QuickBooks Online is their “Plus” subscription. If your business is rapidly growing, this package might suit your business the best. The Plus subscription is currently priced at $70 per month. Businesses using the Plus subscription are allowed up to 5 users. You will also have all the benefits from “Essentials” plus some. Get it? A few additions you will receive with the Plus subscription are inventory tracking, project profitability tracking, and location tracking. Another benefit of the Plus subscription is the ability to create classes for different departments or locations. If your main goal for your company is to start streamlining some tasks and increase profitability, this subscription would be for you. Then, you will have the advantages of tracking inventory and paying your bills, and you will have so much more time to spend with your family!

Plus Overview

  • $70 per month
  • 5 users
  • Essentials benefits
  • Track inventory
  • Project profitability tracking
  • Location tracking
  • Classes
  • For businesses that are growing rapidly

Advanced

The final QuickBooks Online subscription is called “Advanced”. Priced at $150 per month, the Advanced subscription will blow you away with all the features. Along with the features in the Plus and Simple Start packages, a few extras you will receive are automated workflows, business analytics, and insights, restore company data, premium apps, and online training. This subscription allows up to 25 users, and therefore it would be best suited for larger companies.

Advanced Overview

  • $150 per month
  • 25 users
  • Plus benefits
  • Automated workflows
  • Business analytics and insights
  • Restore company data
  • Premium apps
  • Online training
  • For large companies

Last Thoughts

No matter which subscription works best for your business, you will still be able to give access to your accountant or bookkeeper. There is also no contract with any of the packages, so you can upgrade or downgrade whenever you feel a change is needed. 

Call Pooley Accounting Services today to assist you in selecting the right QuickBooks Online subscription for your business.  

For updated pricing on QB Subscription, click here.