Do you want to compare QuickBooks Products to choose the best one for your small and mid-sized business? In such a case, you need to know about all the Products of QuickBooks first. But before that, you should know what QuickBooks is actually about.
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What is QuickBooks?
QuickBooks, an accounting software, comes with a bundle of products that fits perfectly for all your small and mid-sized business needs. You can use it for managing income and expenses. Hence, it will help you in keeping the track of the financial health of your business. Furthermore, Quickbooks is a perfect solution for paying bills, preparing taxes, customer invoicing, and generating reports.
We will tell now tell you about various QuickBooks products along with their advantages and disadvantages so that you can compare QuickBooks products and select the most suitable option for you.
Also Read: QuickBooks Running Slow: How To Speed Up Your QuickBooks?
Then Know: How To Set Up Automatic Backup In Quickbooks Desktop? (Full Guide)
What Are Various Types Of QuickBooks Products?
There are several QuickBooks products you can compare and pick the right one according to your business needs. Here is the list of a few of these products:
- QuickBooks Online
- QuickBooks POS
- QuickBooks Desktop
- QuickBooks Enterprise
- QuickBooks For Mac
- QuickBooks Pro
- QuickBooks Premier
- QuickBooks Self-Employed
What Is QuickBooks Online?
QuickBooks Online is a perfect solution for small businesses and is it’s now popular amongst 2 million people. It was launched in 2004 with features of strong accounting capabilities, 650+ integrations, and fully-featured mobile applications. It’s the perfect software for you if you wish to do the following things:
- Create estimates and invoices
- Track sales and cash flow
- Manage customers and suppliers
- Monitor tax and want to make tax return effortless
- Understand your company’s performance
- Plan budget
What Are The Pros And Cons Of QuickBooks Online?
Whenever you compare Quickbooks products, then the pros and cons are the very first thing that helps you differentiate among each of them. Here are a few pros and cons of QuickBooks Online:
Pros of QuickBooks Online
- It is Cloud-based
- It provides the benefits of Mobile apps
- 650+ integrations are available in it
- It comes with an excellent UI
Cons of QuickBooks Online
- It is quite tricky to use
- It is potentially costly
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What Is QuickBooks POS?
QuickBooks POS (Point of Sale) is a combination of hardware and software for letting small business owners run multiple transactions. Intuit QuickBooks offers its POS service as a combination of QuickBooks desktop software and some separate pieces of QuickBooks POS hardware. This QuickBooks product is perfect for you if you have a retail business.
What are the advantages and disadvantages of QuickBooks POS?
Here are some advantages and disadvantages of QuickBooks POS:
Advantages of QuickBooks POS
- Perfect for sales optimization
- Offers secure processing payment facilities
- Hassle-free inventory management
- Helps in keeping a track of employees
- Customer support is available
Disadvantages of QuickBooks POS
- It is difficult to use and you sometimes need expert advice to use it
- It is quite expensive
What Is QuickBooks Desktop?
Launched in 1992, the QuickBooks Desktop is the older product of Intuit QuickBooks. It is one of the most preferred choices of accountants worldwide. Today, it is available in three different sub-products and they are:
- QuickBooks Desktop Pro for small businesses
- QuickBooks Desktop Premier for medium-sized businesses
- QuickBooks Desktop Enterprise for large-sized businesses
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What are the good things and bad things about QuickBooks Desktop?
Just like the two sides of a coin, QuickBooks POS also has good things and bad things. Here are they.
Good Things About QuickBooks Desktop
- Suitable for accounting professionals who like to do traditional accounting
- Comes with impeccable security
- Have an advantage of 200+ integrations
Bad Things About QuickBooks Desktop
- It is only supported by different versions of Windows
- Remote access or mobile apps is not available
- Comes with an expensive license structure
- It has less automation than QuickBooks Online
What Is QuickBooks Enterprise?
Although QuickBooks Enterprise has features almost similar to Pro and Premier, it allows access for up to 40 users and a lot more storage space. Amongst the six-industry-specific QuickBooks products, it nearly meets the requirements of any large business. The other things the QuickBooks Enterprise includes are:
- Capacity of 1 million customers
- 45 custom fields
- Excellent payroll tools
What are the benefits and drawbacks of QuickBooks Enterprise?
Enlisted are the benefits and drawbacks of QuickBooks Enterprise.
Benefits of QuickBooks Enterprise
- Offers strong accounting
- Comes with advanced inventory and features
- Industry-specific reports and features
- Provides customer support
Drawbacks of QuickBooks Enterprise
- Costly software
- Has a steep learning curve
- Works in PC only
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What Is QuickBooks For Mac?
QuickBooks for Mac is another product you can add to your QuickBooks product comparison list if you are a Mac user. Its usability features almost match up to that of QuickBooks Online, Pro, and other QuickBooks products. A few more features of this QuickBooks software are:
- Invoicing
- Contact Management
- Expense Tracking
What are the merits and demerits of QuickBooks for Mac?
Given below are the merits and demerits of QuickBooks for Mac:
Merits of QuickBooks For Mac
- Convenient to use
- Strong accounting
- Specifically designed for Mac
Demerits of QuickBooks For Mac
- Integration is not available
- Users are Limited
- No mobile apps
What is QuickBooks Premier?
QuickBooks Premier is your one-stop accounting solution if you run a medium-sized business. It comes with a plethora of features and 200+ integrations. While comparing QuickBooks products for industry-specific needs, you can always keep it on the top of the list. Its specialized editions include:
- QuickBooks Contractor
- QuickBooks Manufacturing & Wholesale
- QuickBooks Non-Profit
- QuickBooks Accountant
- QuickBooks Retail
What are the advantages and disadvantages of QuickBooks Premier?
There are certain advantages and disadvantages of QuickBooks Premier. Let’s explore what are they.
Advantages of QuickBooks Premier
- Effective accounting
- 200+ integrations
- Industry-specific reports & features
Disadvantages of QuickBooks Premier
- Steep learning curve
- Compatible with PC only
- No mobile apps
What is QuickBooks Pro?
QuickBooks Pro is the software that was launched way back in 1992. It’s one of all the products QuickBooks offers. It features tools for contact and lead management, project management, accounts payable, expense tracking, invoicing, etc. This QuickBooks product is an ace when it comes to boasting a chart of accounts, bank reconciliation, journal entries, and a lot more.
Which merits and demerits of QuickBooks Pro you can check?
Here are a few merits and demerits of QuickBooks Pro for your QuickBooks Product comparison:
Merits of QuickBooks Pro
- Effective accounting
- 200+ integrations
- Potentially more budget-friendly
Demerits of QuickBooks Pro
- Steep learning curve
- Users are limited
- Compatibility is only for PC
- No mobile apps
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What is QuickBooks Self-Employed?
QuickBooks Self-Employed is quite different from other QuickBooks products. It is not much accounting software and is actually a tax software that helps freelancers to manage their finances. It is convenient-to-use software based on clouds with mobile apps integration. Are you a freelancer and don’t have business bank accounts? Then, you can effortlessly separate your business and personal expenses using it.
What are the pros and cons of QuickBooks Self-Employed?
Have a look at a few pros and cons of QuickBooks Self-Employed before you decide to add it to your buyer list:
Pros of QuickBooks Self-Employed
- Designed for freelancers
- Excellent tax support
- Convenient to use
- TurboTax integration
Cons of QuickBooks Self-Employed
- State tax support is not available
- Unscalable
Wrapping it up,
You can now compare QuickBooks products easily with the help of the above guide. Whether you choose QuickBooks Online for small businesses or go for QuickBooks Premier for mid-sized businesses, the idea is your accounting convenience.
One more thing that you can do is to get a suitable QuickBooks hosting provider if you opt for QuickBooks Online. Do you still need some expert guidance in choosing the right QuickBooks product and hosting for your business? Always feel free to give us a call.