QuickBooks Online

QuickBooks Online is the most flexible accounting software solutions to link multiple users and locations to their business finances-anytime, anywhere. It has the accounting functionality of QuickBooks desktop software, but instead of installing it on a hard drive, you and your clients access it from any PC with a high-speed Internet connection.

You’ll also appreciate the time you can save–and the control you’ll gain–by having each of your clients’ complete financial information in one easy-to-reach place right on the Web.

Video Overview

Your clients will value how easy it is to manage their business finances–and the low investment of time and money required to do so!

QuickBooks Online Edition is ideal for your clients who:

• Want to work on their finances from multiple locations
• Have multiple users who need to access the books
• Need access to their books while traveling
• Have a high-speed Internet connection
• Are service-based or don’t track inventory in their books
• Want their accountant, bookkeeper, or employees to have remote access
• Invoice the same clients regularly (weekly, monthly, etc.)

What Version of QuickBooks Online Is Right For You?

QuickBooks Online comes in four different packages that vary in functionality offerings depending on your business needs. All versions will be able to track income and expenses, capture and organize receipts, maximize tax deductions, and invoice and accept payments.

What version your business needs depends on the number of required users, the size of your business (the number of invoices and payments you handle each month), and the type of reports you require.

QuickBooks Online Simple Start

As the name implies, QuickBooks Online Simple Start is great for businesses who are just getting started. With the exception of the Self-Employed version (for Freelancers), QuickBooks Online Simple Start is the most basic online version of QuickBooks available. The software will be able to handle the basic accounting capabilities users have come to expect within the brand.

With QuickBooks Online Simple Start, you’ll be able to see your income, track your expenses, and know where your business stands, all in one place. The software is intended as a basic replacement for businesses using spreadsheets and looking to bring automation into their day to day operations.

Included with Simple Start include the ability to track miles, manage cash flow, run general reports, send estimates, track sales and sales tax, and manage 1099 contractors. Similar to it’s desktop counterpart (QuickBooks Pro), Simple Start only allows access for 1 user. If your business desires bill pay capabilitiy, time tracking, or access for more users, you’ll want to look at the Essentials version.

QuickBooks Online Essentials

QuickBooks Online Essentials gives you the ability to track bill status, record payments, and create recurring payments, all from the app. You can also pay multiple vendors and bills at the same time as well as create checks from anywhere to be printed when you’re ready.

QuickBooks Online Essentials helps manage the growing small business through automated billing features. It includes all of the features of Simple Start along with the ability to manage and pay bills, track time, and allow access for up to 3 users.

Businesses looking for inventory tracking capabilities and project profitability reports will want to consider the Plus version.

QuickBooks Online Plus

QuickBooks Online Plus includes all of the features included with Essentials along with the ability to manage inventory and track project profitability. This makes the version a great fit for project-based businesses such as contractors, or for businesses dealing with difficulties managing their stock.

QuickBooks Online Plus helps you manage labor costs, payroll, and expenses with job costing–allowing you to see project profitability with clear dashboards and reports. The inventory capabilities will let you monitor product levels, cost of goods, and recieve notifications when inventory is low so you can order more.

QuickBooks Online Plus can handle up to 5 users. Businesses looking for advanced business analytics and insights, access for up to 25 users, batched invoices and expenses, and more will want to consider an upgrade to QuickBooks Online Advanced.

QuickBooks Online Advanced

The most powerful of the QuickBooks Online versions, QuickBooks Online Advanced has the most customization and power of any available plan. The accounting software will still let you manage bills, track income and expenses, invoice customers, manage contracts, pay workers, and track project time and costs. Yet it is a bigger and better QuickBooks for growing businesses that provides more tools, more users, and more supports than lower levels of QuickBooks Online.

This powerful version of QuickBooks Online is meant to rival QuickBooks Enterprise–the most advanced on-premise version QuickBooks has available. This is possible through powerful features not found in other versions of the online product, including smart reporting for charting and graphs that help make business decisions, accelerated invoice automation, and access for up to 25 users with user permission settings.

QuickBooks Online Feature Breakdown

These features can be found in a variety of packages offered by QuickBooks Online:

Accounts Payable

QuickBooks Online Basic offers you everything you will need to track your expenses and print professional checks. With QuickBooks Online Basic, you will simply need to assign the appropriate customer to each expense allowing you to invoice for all billable expenses. The system will automatically fill in all vendor information on each check you write, saving you countless hours. All information about checks written is then automatically stored for tracking, cleint billing and reporting purposes.

Capabilities Include:

• Write and print checks
• Enter and pay bills
• Set the due date on invoices and bills
• Track credit card use
• Track cash purchases
• Keep a list of vendors and their contact information

Accounts Receivable

QuickBooks Online gives you everything you need to invoice for your goods or services. The system will allow you to create customer accounts to store information for each customer, allowing invoices to be quickly made. The system will then allow you to customize your invoices with your own logo. After you are satisfied with the appearance of the invoice and print it, QuickBooks Online Basic will then track the invoice until it is resolved. QuickBooks Online Basic can ensure that all of your receivables are actually received and your business is capturing every dollar it has earned. You can even set up automatic invoicing for continuous customers, saving even more time for your staff. Recurring invoices can be setup to bill daily, weekly, monthly or yearly, or by any other date range you choose. If it is your desire, the system is capable of automatically emailing these invoices.

QuickBooks Online also gives you the ability to classify income and expense accounts into various ýclasses.ý This is perfect for any business that would like to categorize Income and expenses by department, type of business or any other way. This in turn, allows you to create Profit & Loss Statements by class.

Capabilities Include:

• Create, print, and email invoices that are right for your business
• Customize the style of your invoices, to include your company logo.
• Create automatic or recurring invoicing schedules.
• Create charges, billable expenses, and time activities that flow on to invoices
• Compute discounts on invoices
• Setup recurring invoices for continuous customers
• Set the due date on invoices and bills
• Keep a list of customers, contact information, and detailed notes
• Track expenses by customer
• Access customer information quickly and easily
• Create a recurring template for invoices

Employee Time Tracking by Customer

The Employee Time Tracking by Customer feature of QuickBooks Online enables you to allow an unlimited number of employees to have time-entry access, meaning they are able to enter their time independently in the system. This allows you to easily track time so that you can accurately bill for that time worked and pay your employees.

Your employees or contractors will simply fill out their time sheets via any Internet connected PC. You can choose to assign each particular time activity to a project or customer and choose whether to bill your customers for that time. Based on whether or not hours are billable, and the rate that you assign, time information will automatically appear on customer invoices, automating the cumbersome process of finding the right data to bill for and billing for it.

General Ledger

QuickBooks Online has a general ledger that will give you the ability to track your transactions, report on results and produce budgets. Information on both income and expenses is collaboratively recorded. This information can then be used for a variety of functions.

With QuickBooks Online you are able to better understand your business through the use of budgets. These budgets can be used to estimate future expenses and revenues. Furthermore, using ýwhat if?ý scenarios you are able to find where your business is most vulnerable and what areas require the most improvement. Budgets are created in just a few minutes using transactional data. You can create budgets for any way you choose (e.g. location, class, customer, etc.). To further help save time you can base your budget on any past fiscal year or any past budget. All you are required to do is enter a few annual or quarterly amounts and let QuickBooks Online calculate the monthly averages in-between them.

Reporting with QuickBooks Online is the simplest way to achieve true insight into your business’ finances. Online reports can be customized to fit your unique business needs in a matter of minutes. Every entry on every report can be drilled down to the transactional level, meaning you can analyze the numbers that make up every number on a report. Reports can be created on both a cash or an accrual basis. Some of the reports available in this system include:

• A/P Aging
• A/R Aging
• Account Listing
• Balance Sheet
• Bill Payment List
• Check Detail
• Collections Report
• Customer Balance
• Customer Contact List
• Customer Phone List
• Deposit Detail
• Employee Contact List
• Employee Phone List
• Expenses by Vendor
• General Ledger
• Income by Customer
• Invoice List
• Journal
• Profit & Loss
• Recent/Edited Transactions
• Reconcile Reports
• Sales by Customer
• Sales by Product/Service
• Statement of Cash Flows
• Terms Listing
• Transaction Detail by Account
• Transaction List by Customer
• Transaction List by Date
• Transaction List by Vendor
• Transaction List with Splits
• Trial Balance
• Unbilled Charges
• Unpaid Bills
• Vendor Balance
• Vendor Contact List
• Vendor Phone List

Payroll for QuickBooks Online

Payroll for QuickBooks Online is an add-on solution that allows you easily process payroll with either QuickBooks Online Basic or QuickBooks Online Plus. As is the case with QuickBooks Online, Payroll is available at anytime from anywhere you have an Internet connection. The system is available for $19.95.

Payroll for QuickBooks Online will give you a step by step guide instructing you how to process payroll. The system will allow you to easily print paychecks or use the free direct deposit portal. The system will automatically calculate employee earnings, payroll taxes and deductions. You can always ensure that your taxes are paid on time, with the automatically updated federal and state payroll tax tables. All taxes are then instantly calculated when processing payroll, eliminating what could be hours of calculations. Some of the additional features of this add-on include:

• The system will track the amount of payroll taxes you owe to the federal government.
• Tracks and alerts you as to when you should file tax forms.
• File Federal tax forms electronically using E-File
• Email reminders available.
• Username and Password secure sensitive payroll data.
• Phone support available from a team of payroll specialists
• Reports Include:
  • Payroll Summary by Employee
  • Payroll Summary Totals
  • Payroll Liability Balances Summary
  • Paychecks by Employee
  • Paycheck Detail
  • Payment and Deduction Detail
  • Federal Tax Summary
  • State Tax Summary
  • Vacation Plan Summary
  • Vacation Plan Detail by Employee
  • Sick Plan Summary
  • Sick Plan Detail by Employee
  • Employee Contact List
  • Employee Taxes Listing
  • Employee Payments and Deductions Listing
  • Compensation Listing
  • Tax Listing
  • Other Payments and Deductions Listing
  • Pay Schedule Listing
  • Recent/Edited Time Activities

QuickBooks Mobile

Create invoices and access customer data on the go

• Add and view customer information
• Manage outstanding balances
• Create & email invoices, estimates, and receipts

Available for iPhone and Android.