QuickBooks Plus

What is QuickBooks Plus?

QuickBooks Plus offers advanced bookkeeping features tailored to meet the needs of growing businesses. These tools empower business owners to efficiently manage accounting, invoicing, finances, inventory, and project profitability with added functionalities.

It provides users with an intuitive online interface, enabling them to:

• Track income, expenses, inventory, and project profitability.
• Generate comprehensive reports.
• Prepare invoices.

Automating these processes not only enhances efficiency but also saves significant administration time for businesses.

QuickBooks Plus securely stores information digitally in the cloud, eliminating the need for manual entry of customer or business information with each transaction. This feature not only streamlines operations but also reduces the risk of human errors.

Who is QuickBooks Plus best for?

QuickBooks Plus caters to businesses on the growth trajectory, offering advanced features for enhanced financial management, inventory tracking, and project profitability analysis. It is particularly suitable for small to medium-sized businesses looking for comprehensive accounting solutions.

Customer support from QuickBooks is available to assist with the initial setup and utilization of the software, which can be particularly beneficial for first-time users. In addition, QuickBooks provides a robust learn and support community where businesses can find answers to queries regarding the software’s features.

As businesses expand and their bookkeeping, inventory, and project management needs become more complex, QuickBooks Plus provides the necessary features to meet evolving requirements. It offers additional functionalities such as bill management, inventory tracking, and project profitability analysis, enabling businesses to streamline their accounting processes effectively.

What does QuickBooks Plus include?

With QuickBooks Plus, businesses gain access to a wide range of bookkeeping, inventory management, and project profitability features, including:

• Income and expense tracking: Download business transactions from bank and credit card accounts and organize them efficiently as business records.
• Receipt management: Capture and upload photos of receipts using a smartphone, saving time by matching uploaded receipts to corresponding expenses.
• Advanced reporting: Access over 65 general business reports, including profit and loss statements, balance sheets, and more.
• Estimates: Create custom estimates and convert them into invoices seamlessly.
• Mileage tracking: Effortlessly track business mileage using your smartphone’s GPS for accurate expense tracking.
• Sales and sales tax tracking: Accept credit card payments and other electronic payments on invoices, with QuickBooks Plus automatically computing sales tax.
• 1099 contractor management: Stay compliant with 1099 reporting requirements and upload documents directly from the software for hassle-free filing.
• Invoicing: Create customizable invoices tailored to send to customers, enhancing professionalism and efficiency in billing processes.
• Project profitability analysis: Track and analyze the profitability of individual projects or jobs to optimize resource allocation and maximize returns.

Compare QuickBooks Simple Start, QuickBooks Essentials, and QuickBooks Plus:

1. Features and Capabilities:
   • QuickBooks Simple Start: Offers fundamental bookkeeping features such as income and expense tracking, basic reporting, invoicing, receipt management, and mileage tracking. It’s designed for freelancers and small businesses with straightforward accounting needs.
   • QuickBooks Essentials: Builds upon Simple Start by adding more advanced functionalities like bill management, time tracking, and more comprehensive reporting options. It caters to growing businesses that require additional features beyond basic accounting.
   • QuickBooks Plus: Provides the most comprehensive set of features among the three editions. In addition to all the features available in Simple Start and Essentials, Plus offers inventory tracking, budgeting tools, and the ability to create purchase orders. It’s suitable for businesses with complex accounting requirements and inventory management needs.
2. Price:
   • QuickBooks Simple Start: Typically the most affordable option, ideal for businesses on a tight budget or those with basic accounting needs.
   • QuickBooks Essentials: Priced slightly higher than Simple Start due to its expanded feature set. It offers more advanced capabilities at a reasonable price point.
   • QuickBooks Plus: Generally the most expensive option among the three editions, reflecting its comprehensive feature set. It’s priced higher than Simple Start and Essentials but offers enhanced functionality suitable for larger businesses.
3. Suitability for Business Size and Complexity:
   • QuickBooks Simple Start: Best suited for solopreneurs, freelancers, and very small businesses with minimal accounting requirements. It provides a simple and easy-to-use solution for basic financial management.
   • QuickBooks Essentials: Geared towards small to medium-sized businesses that require more advanced features to manage their growing operations. It offers a balance between affordability and functionality for businesses with moderate accounting needs.
   • QuickBooks Plus: Designed for larger businesses with complex accounting needs and inventory management requirements. It’s suitable for businesses that need advanced features like inventory tracking and purchase orders.
4. Scalability:
   • QuickBooks Simple Start: While suitable for small businesses and freelancers, it may lack the scalability needed as businesses grow and their accounting requirements become more sophisticated.
   • QuickBooks Essentials: Provides scalability for businesses as they expand, offering more advanced features to accommodate growing needs.
   • QuickBooks Plus: Designed to scale with businesses as they grow, providing robust features and capabilities to handle complex accounting tasks and inventory management efficiently.

In summary, QuickBooks Simple Start is ideal for small businesses and freelancers with basic accounting needs, QuickBooks Essentials offers more advanced features for growing businesses, and QuickBooks Plus provides comprehensive functionality for larger businesses with complex accounting requirements and inventory management needs. The choice between the three editions depends on factors such as business size, budget, and the level of functionality required to effectively manage finances.

QuickBooks Online Challenges

For many business owners, the complexities in mastering QuickBooks can prove to be a daunting challenge. Amidst the myriad responsibilities that come with running a successful business, seeking assistance with QuickBooks becomes not just a convenience but a strategic necessity.

The expertise of professionals in navigating the intricacies of this software not only ensures accurate financial reporting but also frees up crucial time for business owners to focus on strategic decision-making and the growth of their ventures. In essence, recognizing the need for help with QuickBooks is a step toward to achieving financial efficiency and long-term business success.

Sheldon Bookkeeping Can Help You

We offer support and service for all things related to QuickBooks Online. You have likely already chose to use QuickBooks Online as your accounting software.

Be assured we know QuickBooks Online.