Is QuickBooks the right solution for your small business accounting needs? Find out with this helpful FAQs guide as we answer some of your most common questions.
Is QuickBooks The Best Accounting Software For Your Small Business?
QuickBooks is a versatile and popular payroll and accounting program from Intuit Software. It offers a variety of levels, each offering its own specialized tools.
Depending on the needs of your business, it’s easy to choose the version that’s right for your needs. QuickBooks will grow with you: As your business expands in size and complexity, you can opt for a more advanced version. For details, go to https://quickbooks.intuit.com/ca/
How much does QuickBooks cost?
There are multiple levels of QuickBooks, with varying feature sets and monthly price:
| QuickBooks Version | Monthly Cost* |
| Self-Employed | $10.00 |
| Easy Start | $20.00 |
| Essentials | $35.00 |
| Plus | $50.00 |
*Prices shown in Canadian dollars. QuickBooks also offers discounts for new users as well as free trials.
In addition, QuickBooks users can add such extensions as GoPayment, a POS option with a mobile card reader.
Is QuickBooks easy to use?
Absolutely! QuickBooks has an intuitive interface, designed for people with no previous accounting experience. It allows you to spend your time and attention on running your business, while you simply enter income and expenses.
There are free demo versions available from the website, which also offers video tutorials and webinars.
Is QuickBooks the best program for small business?
Yes! The program has been designed for small business users – from one-person operations to those with multiple employees. It’s easy to learn, even for those without a background in accounting.
But it can also grow and adapt as the needs of your business change.
Does QuickBooks eliminate the need for an accountant?
Although QuickBooks is a highly sophisticated and specialized program, it does not take the place of a certified accountant, fully versed in such areas as the changes and nuances of Canadian tax legislation.
In fact, using QuickBooks can make your accountant’s work easier, by providing the data he or she needs immediately.
What’s the difference between QuickBooks and Sage Bookkeeping? Which is better?
Sage 50 Bookkeeping is another popular cloud-based program. It offers many of the same features and benefits of QuickBooks, along with tools designed to help with project management and inventory control.
While there is considerable overlap between the two programs, QuickBooks tends to focus more on bookkeeping and accounting, while Sage is rich in tools for project management.
Each program has varying levels, and each offers a free demo. It’s also possible to open data from one program in the other; if your needs change, you’re not “stuck” with your initial choice of software.
Do I need a certain kind of computer to use QuickBooks?
Not at all … QuickBooks will run on a Windows PC, Macintosh computer, tablet or smartphone. And it’s all integrated.
If you’re on the road, you simply enter data on your phone (IOS and Android each have their own mobile QuickBooks app), and the data on your home PC or Mac will be automatically updated.
Because QuickBooks is cloud-based, your data is secure, synched across all devices, and always accessible.
How about my bank accounts and credit cards?
Again, QuickBooks is designed to integrate fully and efficiently with your existing or future bank accounts, credit cards, PayPal, etc.
This will cut down on mistakes as well as the drudgery of data entry. Users can also add to the “power” of QuickBooks using a variety of specialized apps (see below).
QuickBooks can also alert you when payments come in, as well as when they’re required. This can help protect your credit rating.
Is QuickBooks designed for Canada?
It certainly is. In fact, QuickBooks Canada has its own site, quickbooks.intuit.com/Canada, which operates in both English and French. For example, the software uses Canadian currency, and recognizes HST.
In addition, Intuit has a Canadian head office and support team, fully versed in Canadian financial practices and legislation. And if your business were to expand to another country, there are QuickBooks versions tailored specifically for it.
What are some of the features in each version of QuickBooks?
| Self-Employed | Designed for freelancers …
Tracks income & expenses, sales and sales tax Captures, organizes receipts Tracks milage automatically Runs reports Generates invoices & accepts payments Sorts business and personal transactions |
| EasyStart | Designed for small business owners, with all the above, plus …
Progress invoicing Sends estimates Maximizes tax deductions Standard and advanced payroll add-on |
| Essentials | All the above, plus …
Accommodates multiple users Manages bills and payments Supports multiple currencies Tracks time |
| Plus | All the above, plus …
Tracks project profitability Tracks inventory |
What about third-part apps?
Because QuickBooks is a popular and versatile program, there are more than 1,200 apps designed to expand and enhance its capability.
Examples include ReceiptBank, TSheets, Fathom, Practice Ignition and Aero, each designed to increase QuickBooks’ power and tailor it to individual needs.
Do I need to download QuickBooks to my hard drive?
Not necessarily. There are both online and desktop versions of the software, and they synch with each other.
Can I afford QuickBooks?
Individual freelancers can make use of QuickBooks starting at just $10 per month (and take advantage of free trial demos and discounts).
If your needs increase, it’s easy to upgrade – or conversely, opt for a less advanced version at a later date. There’s no yearly contract. In most cases, QuickBooks will be a deductible business expense.
Is QuickBooks dependable?
Business owners need a bookkeeping/accounting program that is stable, secure and reliable. Intuit has a solid reputation in the area of financial software, with thousands of satisfied users who can attest to QuickBooks’ rock-solid dependability.
How do I learn more about QuickBooks?
To Learn more about QuickBooks, visit their Canadian website. It’s easy to navigate, with trained staff available to advise you on choosing the version that suits your needs best.
In Summary
We hope you found some helpful information in this article. If you have any questions on how Quickbooks would work with your specific business, please contact us by phone: 519-758-0021, or send us a message. We’ll be happy to help!