However, they also say that accessing the software on mobile devices is extremely difficult and navigating the software menu can be confusing at times. Completing tasks within the platform was as simple as filling out simple forms and following instructions that walked me through how to complete tasks (like connecting my bank account). Reports offered instructions to help me interpret them and easy filtering options to customize them to my needs. It also offers strong budgeting functionality to assist with financial planning. All of these features combined make NetSuite how to process an invoice a very capable option for businesses of a suitable size.
Is QuickBooks Online Right for You or Your Business?
For example, I can easily add a project by filling out a simple form, then access the project’s financial reporting and cost/income tracking from the left-hand “projects” menu tab. I could then send invoices from this page and record expenses and bills. From the same page, I could view project profitability reports, time cost reporting and estimates versus accrual reporting. With its straightforward accounting software, QuickBooks is an easy favorite amongst freelancers, and not just because many of them bundle it when filing their own taxes with TurboTax. QuickBooks Online automates tasks, making accounting less time-consuming and less stressful for small business owners.
For this reason, many small business owners hire bookkeepers or accountants to maintain or review their books. Cloud-based accounting software allows businesses to share their accounting data with their bookkeepers or accountants. Accounting software reduces the amount of time spent on manual data entry by allowing users to sync their business bank accounts and credit cards with the software. Once synced, bank transactions flow into the accounting software, which can be categorized into various accounts. This process can also reduce human error and make a time-consuming task more efficient.
These options were also always available to me wherever I was in the platform via a slide-out left-hand menu. Next, I clicked on the “Projects” menu item from the left-hand menu. On the “projects” page, I clicked online free ending inventory accounting calculator on “create new” and was given the option to create a flat-rate or hourly project. After clicking the “hourly project” option, I was taken to a new project template and prompted to enter a client, total hours worked, a project name, a project end date and the service rendered.
Is FreshBooks or QuickBooks better for a small business?
- Plus, software can help keep your books in compliance, which can save you time and money in the long run.
- You can also create custom rules so expenses are sorted in the system properly.
- NetSuite’s pricing is custom, so you’ll need to speak with a sales team member for a quote.
The full-service payroll option is offered through Gusto and starts at an additional $40 monthly plus $6 per employee. The Advanced subscription adds many features, including expense management, exclusive premium apps, a dedicated account team, and on-demand training. All plans allow integration with third-party apps such as Stripe or PayPal. QuickBooks Online’s app store breaks down its apps by function and provides helpful examples of each app’s benefits. We picked QuickBooks Online because of its wide use among small business accounting professionals and its numerous online training resources and forums to get support when you need it. Plus all accounting tools and features can be conveniently accessed through one main dashboard, making bookkeeping more fluid and efficient.
FreshBooks
QuickBooks Solopreneur is another Intuit product with a cloud-based online interface and a mobile app. This software was created to help freelancers stay organized each year for tax season. Features of QuickBooks Solopreneur include tracking mileage, sorting expenses, organizing receipts, and estimating and filing taxes through TurboTax.
I found the software to require a small learning curve, particularly in terms of finding needed features. Features were listed on the left-hand menu once I signed in to my account. Because many features had submenu items, it was not always instantly clear where to go to access needed features. Intuit QuickBooks has a 4.3-star rating and a 4.4-star variable and fixed cost in accounting rating on Capterra and G2, respectively, with over 6,700 reviews on the two platforms. Users say the software is comprehensive in its accounting features and easy to use.
Essential Features
When I clicked “invoice” from this drop-down, I was taken to an invoice template with my company information already populated. It was easy to click fields to add items and adjust invoiced amounts. Designated fields allowed me to choose due dates, list terms and conditions and input notes to the client. I clicked “edit dashboard” and was given the means to deselect reports I didn’t want to appear on the dashboard. Unfortunately, I was not able to add reports that I wanted to see there.
We found that this made some of our most important tax deductions substantially easier to identify. QuickBooks allows you to track expenses and profitability and manage inventory to help you stay on top of cash flow. Stay updated on the latest products and services anytime anywhere. Want to learn a little more about bookkeeping and accounting before you dive into our top reviews? Most of our top accounting software picks include a free trial, so don’t be shy about trying a few different brands if you don’t hit on your favorite right away.