QuickBooks Online Review
As we approach the end of another financial year, many small business owners will be faced with the prospect of sorting through their receipts and organising their accounts in order to present them to HMRC in a timely fashion. This time last year I had the same daunting task ahead of me, so I decided that the time had come to set up a more manageable and ongoing computerised accounts system. After much research, I decided to give popular service QuickBooks Online a try, and boy am I glad that I did.
In this QuickBooks Review, I’ll explain just how the program has helped me out and why I am now no longer stressing at the thought of doing my accounts each year.
Ease of Use
One of the things that has impressed me most about QuickBooks Online is just how easy it has been to use. You can quickly input suppliers, receipts, invoices, sales and so much more with just a few clicks of a button. For any other features such as linking bank accounts and things like that, I found that the QuickBooks team were very quick to help out when I encountered any issues, whether it was chatting with them through their online support system, or else over the phone. The overall platform is very easy to wrap your head around and you don’t need any prior accounting experience to get started, as there are lots of online videos and tutorials to help you set up your company on the QuickBooks system and get started with taking control of your accounts.
The Quickbooks Mobile App
One of the most useful features for me personally has been the QuickBooks Mobile App. I have to admit here that organisation is probably not one of my strongest attributes. For years my receipts used to get stuffed in a draw, only to present me with a nightmare when it came to making sense of them all at the end of the year. The ability to be able to use QuickBooks through a mobile app, however, has meant that these days, whenever I get a receipt from any kind of business purchase, I just photograph it and upload the details to QuickBooks immediately. This has really helped me to keep my receipts and the rest of my accounts organised as I go, rather than getting flustered at the end of the financial year. I also keep a digital copy of my receipts this way too, just in case something happens to the physical ones. You can also control many other aspects of your online accounting through the mobile app too, not just receipts.
Linking Bank Accounts – Including PayPal
One of the most important features I looked for when deciding which online accounting system I should go for was the ability to be able to link it straight to my PayPal account, as I have a lot of business transactions running through PayPal. I really didn’t want to have to waste time inputting all of the transaction details if I could avoid it by having a system that could do the hard work for me. In this one area, I’ve found QuickBooks Online to be priceless! QuickBooks seamlessly links with your PayPal account and recognises all of the transactions. I can then choose to disregard a transaction, or to add it to the system. This one feature alone has saved me A LOT of time. You can also link QuickBooks to your business and personal accounts too.
Another thing I’ve really found useful in QuickBooks is the online reports you can produce. I only subscribe to one of the more basic online accounts packages QuickBooks has to offer, but this still allows me to create profit and loss reports and others like it. On the homepage – when you are logged in – there are also some bar charts to give you a quick overview of your monthly income and expenses, so you can get a quick idea as to your current financial position.
The Cost of Quickbooks Online
If you want to give QuickBooks a try then you have two great offers by which you can do so, depending on which works best for you.
Firstly, you can choose to try QuickBooks Online Free for 30 days, and then after that – if you like it – you will then start paying the full monthly cost. At the time of writing, the full monthly cost ranges from £6 to £25 per month depending on what kind of account features you will require.
The other way is to trial QuickBooks for 12 months and benefit from a 12 month rolling discount of up to 40%. If you choose this option then the monthly cost comes down to between £4.80 and £15 per month.
For the benefits that QuickBooks has provided me personally, I would say that it is well worth the money, and don’t forget that you can cancel at any time if you decide that it’s not for you. It’s also good to remember that anything you spend on a QuickBooks subscription is 100% tax deductible as a business expense.
As you can probably tell from this personal QuickBooks review, I’ve had a very positive experience of using the QuickBooks Online service and I really do think that the service is worth the money. I haven’t used all of the features, as some of them are not really applicable to my business, and I therefore only needed the basic package. The parts I have tried, however, I have been very impressed with, and I’m sure that you will have a positive experience with whichever package you choose to go for.