Quickbooks Online Pricing
QuickBooks Online is packed with accounting features. But it can get pricey very quickly. Read on to learn what to budget.
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Imagine subscribing to a QuickBooks Online plan, only to realize you don't need its features. That's money you could have used somewhere else.
Not to mention, the other costs can add up very quickly. You need to consider add-ons, integrations, and processing fees in your budget when choosing a plan.
To help you out, we broke down all the prices to consider, the features for each plan, and the type of business they could work with. So you can subscribe to the right one.
Read on to learn about them.
QuickBooks Online Pricing and Features
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Each plan comes with a free trial or a 50% discount for your first 3 months. Unfortunately, you can't have both. But either one allows you to test its features while saving on costs.[1]
This excludes the price for add-ons and integrations. Processing fees also differ depending on the type of transaction. Later, we'll talk about the price of each, so you can avoid surprise fees.
| Self-Employed | Simple Start | Essentials | Plus | Advanced | |
|---|---|---|---|---|---|
| Price (free trial) | $20/mo | $30/mo | $60/mo | $90/mo | $200/mo |
| Price (50% off) | $10/mo | $15/mo | $30/mo | $45/mo | $100/mo |
| Number of users | 1 | 1 | 3 | 5 | 25 |
| Features | |||||
| Invoice & expense tracking | ✔ | ✔ | ✔ | ✔ | ✔ |
| Connect to bank accounts | ✔ | ✔ | ✔ | ✔ | ✔ |
| Mileage tracking | ✔ | ✔ | ✔ | ✔ | ✔ |
| Balance sheet printing | ✘ | ✔ | ✔ | ✔ | ✔ |
| Unpaid bills management | ✘ | ✘ | ✔ | ✔ | ✔ |
| Activity tracking | ✘ | ✘ | ✔ | ✔ | ✔ |
| Inventory management | ✘ | ✘ | ✘ | ✔ | ✔ |
| Advanced reporting | ✘ | ✘ | ✘ | ✘ | ✔ |
| Dedicated customer support | ✘ | ✘ | ✘ | ✘ | ✔ |
QuickBooks Online Self-Employed: $20/mo
Self-Employed costs $20/mo with the free trial and only $10/mo with the 50% discount.
With this plan, you can take snapshots of your receipts. And QuickBooks will automatically sort and categorize everything when you upload them.
This lets you easily keep track of your business expenses and separate them from your personal ones.
With its other features, you can:
- Track business-related mileage
- Calculate quarterly estimated taxes
- Export your Schedule C form
Is it worth it?
QuickBooks Self-Employed is limited to 1 user per account and has the essentials you need to streamline your accounting and bookkeeping without hiking up your costs.
It's perfect for freelancers, sole proprietors, and independent contractors who are running their business solo. It's also great for business owners who file their income tax returns using the Schedule C form.
But it might not be the best choice if you have employees or manage a lot of inventory. In that case, it's better to switch to the other QuickBooks Online plans. Like this next option.
QuickBooks Online Simple Start: $30/mo
Simple Start costs $30/mo with a free 30-day trial. But it's only $15/mo for 3 months if you choose the 50% discount instead.[2]
This plan lets you track income and expenses. So you can see where the money is coming in and out of your business. You can even set tax categories to organize them and save time during tax season.
You can also create and send invoices to your customers. If you have the QuickBooks Payments add-on, they can pay directly through the invoice, making it convenient.
Other features let you:
- Take snapshots and organize receipts
- Track business-related mileage
- Manage cashflow
- Send estimates
- Create general reports
- Add sales tax
- Set 1099 categories for vendor payments
Is it worth it?
The Simple Start plan is limited to 1 user per account. This makes it a great option for new small businesses or solopreneurs.
It can make your workflow more efficient by better organizing your financial documents. This can be helpful when you're applying for small business loans.
But it can also be costly if you don't need all its features. For example, you might not need to track mileage or send estimates.
You can apply for a loan through QuickBooks if you're planning to grow your business. Once approved, you'll receive the funds in your bank account in just 1-2 business days.
QuickBooks Online Essentials: $60/mo
The Essentials plan costs $60/mo, while the discounted price is $30/mo for 3 months. It has all the features of the Simple Start plan, with a few additional ones.[3]
With Essentials, you can:
- Manage and pay your bills
- Manage employees and track billable hours
- Create enhanced reports
All your bills are displayed in one dashboard, so you can avoid missed or delayed payments. You can pay everything using checks or direct deposits.
You can also assign employee cost rates and automatically add their time to invoices. That way, you can make payments quickly and easily, resulting in happy employees.
It also provides enhanced reports, including detailed reporting for P&L, accounts receivable, and accounts payable.
Is it worth it?
The Essentials plan is best for growing or service-based small businesses. You can have up to 3 users per account, which is enough for a small team.
The features are great if you work with multiple vendors or contractors. You can optimize everything using the bills feature.
If you're a growing company, tracking employees' billable hours will also help because you can compare budgeted and actual working hours.
QuickBooks Online Plus: $90/mo
QuickBooks Online Plus costs $90/mo. But you can get it for just $45/mo for 3 months if you choose the discount.
It has all the features of the Essentials plan. But now, you can also:
- Track inventory
- Track project profitability
- Create more comprehensive reports
Tracking your inventory includes your products and the cost of goods. You'll also get notified when you're low on inventory. This makes it easier to keep things in stock.
On the other hand, the profitability tracking feature lets you view details such as labor costs, expenses, and income. So you can see how much you're making from each project.
Is it worth it?
If you have an online store, the Plus plan can be best for you. It seamlessly integrates with your store so you can track and fulfill orders from all sales channels. You can also make changes across channels simultaneously.
You can have up to 5 users per account with this plan. So everyone on your team, online and offline, can use it to manage your store.
5. QuickBooks Online Advanced: $200/mo.
The Advanced plan usually costs $200/mo at a regular price. But you can get it for only $100/mo for 3 months with the discount.
It has everything from the Plus plan but with more integrations and customizations. For example, you can set up automatic workflows and backups for better efficiency and productivity.
You'll also get free online training with this plan, which can benefit you and your employees.
Other new features let you:[5]
- Integrate QuickBooks with Excel
- Create invoices and expenses in batches
- Track employee expenses
- Customize employee access
- Integrate with premium applications
- Connect with a dedicated account team
Is it worth it?
QuickBooks Online Advanced is better for large and established businesses because it can have up to 25 users per account.
The reports are all customizable and presentation-ready. And you can also sync your spreadsheets for better accuracy.
Plus, because there's more automation and batch work, it makes your workflow more efficient.
Add-ons and Integrations
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When planning your budget, take note that the price of each plan is only the starting cost. Add-ons and integrations will add to the total amount if you subscribe to them.
QuickBooks has several add-ons to choose from and over 750 integrations. Here are some of them:
QuickBooks Live Bookkeeping: $200/mo.
QuickBooks Live Bookkeeping partners you with a live bookkeeper who can help you clean up and update your books. They will review your chart of accounts and ensure that your past transactions are well-organized.
They will also update your P&L and balance sheets. After the initial setup, you'll still receive regular bookkeeping support.
Pricing:[6]
You can get a free consultation before you start. But there's a cleanup fee for the first month of your subscription.
The full-service bookkeeping service typically costs $200/mo. But this varies depending on your business's average monthly expenses. They may offer a different price after the initial consultation.
QuickBooks Payroll: Starts at $75/mo.
QuickBooks Payroll is an add-on for both QuickBooks Online and QuickBooks Desktop. It provides payroll services, HR features, and employee benefits.
The features include:
- Tax penalty protection (up to $25,000)
- Automatic filling and payment of taxes
- Automatic payroll
- Same-day direct deposit
- Time-tracking
- 1099 e-file and pay
You can also talk to an HR advisor through Mineral. That way, you're updated on the wage and overtime laws for your business.
You'll also learn more about handling hiring, termination, and other HR processes within your company.
With QuickBooks Payroll, you can also offer health benefits and 401(k) plans to your employees. Health benefits come from SimplyInsured and include medical, dental, and vision insurance packages. Group health benefits are also available.
Meanwhile, retirement plans are offered through Guideline. You can set up automatic contributions or let your employees decide how much they'll allot for it.
Pricing:[7]
| QBO Plans | Cost with Payroll Core (with free 30-day trial) | Discounted Cost (3 months) |
|---|---|---|
| Simple Start | $75/mo + $6/employee/mo | $37.50/mo + $6/employee/mo |
| Essentials | $105/mo + $6/employee/mo | $52.50/mo + $6/employee/mo |
| Plus | $170/mo + $8/employee/mo | $85/mo + $8/employee/mo |
These plans come with both health and 401(k) benefits. But you'll still have to choose the specific packages for each one.
QuickBooks Payments: Starts at $30/mo.
This add-on lets you add a "Pay Now" button to your invoices. This makes payments more convenient, which can lead to quicker payoffs.
With QuickBooks Payments, you can accept credit and debit card payments, ACH transfers, and Apple Pay payments. Customers can also pay with eChecks. You can track the invoices you sent for status updates.
Aside from that, you can set up automatic and recurring invoices for regular suppliers or vendors. That way, you can focus on your business without worrying about billing.
Pricing:[8]
- Simple Start: $30/mo
- Essentials: $90/mo
Rates per transaction:
Processing fees can be hidden fees businesses fail to consider. Take note of the following rates when determining your budget:[9]
- ACH payments: 1%
- Keyed-in payments: 3.5%
- Invoiced payments: 2.99%
- Card reader: 2.5%
If you want to avoid these fees, you can just manually record payments. You can also use other payment processors QuickBooks integrates with.
For example, you can use Freedom Merchants, Melio, or Expensify with QuickBooks Online.
Some business owners get surprised by price increases QuickBooks makes. For the most recent changes in 2022, they've made price increases for all QBO plans and payroll core fees per employee. This is due to additional features such as automation of recurring payments and new integrations.
If some features aren't essential, you can always change your plan at any time. Downgrading it can also save you some long-term costs.
QuickBooks Time: Starts at $20/mo.
QuickBooks Time is an app you and your employees can use to track time. You can view employee time data from any device, which is convenient if you have remote workers.
You can use it with your tablet as a punch clock for your office, so your employees can clock in and out of it easily. It's available for Android and iOS.
Employees can also take breaks and add timesheet details on it. If they use their smartphones, the app can alert them if they ever forget to clock in or out of the office.
Its other features let you:
- Compare actual to budgeted hours per project
- Track business-related miles
- View the activity feed for projects
- Set employee schedule by shifts or jobs
Pricing:[10]
You can get a free 30-day trial for QuickBooks Time. It offers two pricing plans:
| Plan | Cost |
|---|---|
| Premium | $20/mo + $8/user/mo |
| Elite | $40/mo + $10/user/mo |
The Premium plan is enough if you only plan to track the time and attendance of your employees. But the Elite plan allows real-time collaboration as well.
Tax Forms & Support: starts at $17.99
Intuit sells pre-printed tax forms and kits to businesses who need them. You can order from them directly using your QuickBooks Online account.
Their kits are designed to work seamlessly with QuickBooks Online. So you don't need to spend hours figuring out how to convert the data from your accounting software to your tax forms.
Pricing:[11]
- Starts at $17.99 per kit
QuickBooks Checks: starts at $46.24
You can order QuickBooks-compatible checks from Intuit at an additional cost. The available options range from basic voucher checks to secure premier voucher checks.
What's more, your financial records and accounting software are updated instantly when you print checks using your QuickBooks Online account.
Not only does this save you time and effort in handwriting checks. But also with manually updating your accounting data to ensure everything matches.
Pricing:[12]
- Starts at $46.24 for 50 pieces (basic voucher checks)
QuickBooks Capital
Eligible users can apply for a business loan directly from their QuickBooks Online account.
QuickBooks only offers this to qualified users. So you can get a decision in minutes and receive the funding in just a couple of days after getting approved.
You can also receive an APR as low as 9.99% with payment terms of 6 to 24 months. You can pay monthly or weekly, depending on what's in your loan agreement. Plus, there are no origination fees, prepayment penalties, or collateral with their loans.
QuickBooks Integrations
There are over 750 business software that integrate with QuickBooks Online. They enhance its existing features, such as making payments, managing customers and projects, running payroll, etc.
You can check if you can connect apps you already use. This makes it easier to adjust if you're new to QuickBooks.
Some examples of these integrations are Mailchimp, Etsy, Square, Amazon, and Veem. These apps are free, but there are Premium apps that require additional fees.
QuickBooks Online vs. QuickBooks Desktop
You might wonder what's the difference between QuickBooks Online and QuickBooks Desktop.
QuickBooks Online is a cloud-based accounting software. You can access it anytime, anywhere using your account as long as you have an internet connection.
While QuickBooks Desktop is software you need to download and install on your computer. You can only access it on that device unless you install it in another one. Or pay extra for online/cloud access. A lot of business owners prefer it over QuickBooks Online.
Here's a closer look at their differences:
| QuickBooks Online | QuickBooks Desktop |
|---|---|
| Pricing starts at $30/mo | Pricing starts at $799/yr (equivalent to $67/mo) |
| Customizable | Customizable |
| Integrations available | Integrations available |
| Stores information online, which is accessible anytime from any device | Stores information on a local server and does not need the internet to function |
| Automatic backups available for QBO Advanced plan | Online backup is available for all plans through Intuit Data Protect |
| Individual subscriptions are needed for each company | You can manage multiple company files with one license |
QuickBooks Desktop Pricing[13]
To help you decide which option is best for you, here are the currently offered pricing plans for QBD:
| Plan | Cost | No. of Users |
|---|---|---|
| QuickBooks Desktop Premier Plus | $799/yr | Up to 5 users |
| QuickBooks Desktop Enterprise | $1,410/yr | Up to 40 users |
QuickBooks vs. Competitors
There are other accounting software available for your business. Comparing the costs can help you decide if QuickBooks Online pricing is worth it.
We compared it with Xero, FreshBooks, and Wave Accounting.
- Xero
This is best if you want an unlimited number of users at no additional cost. Pricing starts at $15/mo[14]. - FreshBooks
This is better if you're a new entrepreneur or freelancer who wants an easy-to-use accounting software. Prices start at $17/mo[15]. - Wave Accounting
Wave is best if you want a free and straightforward accounting app with all the essentials for your business. You can get started for free[16].
| Features | QuickBooks | Xero | FreshBooks | Wave Accounting |
|---|---|---|---|---|
| Track income and expenses | ✔ | ✔ | ✔ | ✔ |
| Create and send invoices | ✔ | ✔ | ✔ | ✔ |
| Create and send estimates | ✔ | ✔ | ✔ | ✔ |
| Tax categories or filing features | ✔ | ✔ | Tracks sales taxes only | ✔ |
| Snapshot and manage receipts | ✔ | ✔ | ✔ | ✔ |
| Track mileage | ✔ | ✔ | ✔ | ✘ |
| Manage cashflow | ✔ | ✔ | ✔ | ✔ |
| Create reports | ✔ | ✔ | ✔ | ✔ |
| Manage employees and set billable hours | ✔ + integrates with QuickBooks Time | ✔ | ✔ | ✔ |
| Other payroll features | QuickBooks Payroll | Gusto Payroll Software | Gusto Payroll Software | ✔ |
| Track inventory | ✔ | ✔ | ✔ | ✘ |
| Track project profitability | ✔ | ✔ | ✔ | ✔ |
| Integrations | ✔ | ✔ | ✔ | ✔ |
| Accept payments | QuickBooks Payments | ✔ | ✔ | ✔ |
Free Accounting Software for Small Business
- Simple, reliable, and secure
- Easily manage cash flow
- Be ready for tax time
Free Invoice Software for Small Business
- Send professional invoices
- Get paid fast via credit card
- Let Wave send overdue reminders
Which QuickBooks Online plan is best for me?
QuickBooks Online offers several plans, all of which are designed mainly for small businesses.
To determine which is the right plan for you, make sure you consider the following factors:
- Features
Make sure you get the plan that has everything you need. That way, you don't have to pay extra for more features. Or spend more on ones that you won't actually use.
For example, Self-Employed or Simple Start are good choices if you only have basic accounting needs. Both can help you efficiently keep track of and organize your business expenses.
But if you need more advanced functions, like project management or activity tracking, it might be better to upgrade to Essentials or higher.
- Number of Users
Each QuickBooks Online plan has a limit on the number of people who can use it per account. So make sure to go for the plan that can accommodate everyone who needs access to your accounting software.
If you're the only user, Self-Employed and Simple Start are more than enough. For 3 to 5 users, Essentials and Plus are your best bet. If you have a larger team, QuickBooks Online Advanced can accommodate up to 25 users per account.
- Integrations
QuickBooks Online integrates with over 750 third-party apps. So you can easily connect your accounting with your favorite business tool for a more comprehensive system.
However, only QuickBooks Online Advanced can integrate with premium apps like DocuSign or HubSpot. So if you want to connect these with your accounting app, you need to upgrade to this plan.
Considering these, which plan is right for you? Here's a quick rundown of the plans and who they're best for:
| Plan | Best for |
|---|---|
| Self-Employed | Freelancers and independent contractors |
| Simple Start | New small businesses and solopreneurs |
| Essentials | Growing small businesses |
| Plus | Small business with physical and online stores |
| Advanced | Large and established businesses |
Frequently Asked Questions
- How much is a 1-year subscription to QuickBooks?
Annual subscriptions are available for QuickBooks Desktop, which starts at $799/yr. If you subscribe to QuickBooks Online, you'll have to choose from one of their monthly plans. It starts at $30/mo, which equals $360 per year. - How much is QuickBooks Online every month?
This depends on the plan you choose. The Simple Start plan costs $30/mo. The Essentials plan starts at $60/mo. The Plus plan costs $90/mo. And the advanced plan is $200/mo.But this is just the starting price. You'll also need to consider processing fees and add-ons.
- Does QuickBooks Online have a yearly fee?
At the moment, QuickBooks Online only offers monthly subscriptions. But you can multiply the monthly cost by 12 to see how much it'll cost you in a year. That said, annual fees typically don't have discounts. - Is QuickBooks Online a one-time purchase?
Unfortunately, there is no one-time payment for QuickBooks Online. It's a monthly subscription that you can upgrade or downgrade at any time. Add-ons also require subscriptions, And some integrations may have additional fees. - Can I use QuickBooks Online for free?
Yes, you can try QuickBooks Online for free. You can sign up for a 30 day free trial. There is no credit card required and you can cancel anytime.
The Bottom Line
QuickBooks Online can end up costing you more than you planned. That's why it's best to know the ins and outs of its pricing, including the cost of processing fees, add-ons, and integrations.
It's an expensive option compared to its competitors. But you can save on costs for 3 months with their 50% off discount.
Keep in mind that you can downgrade your plan if you've decided some features aren't essential and only upgrade as needed.
References
- ^ Intuit QuickBooks. QuickBooks Online, Retrieved 8/26/23
- ^ Intuit Quickbooks. Simple Start, Retrieved 12/6/23
- ^ Intuit Quickbooks. Essentials, Retrieved 12/6/23
- ^ Intuit QuickBooks. QuickBooks Self-Employed, Retrieved 8/26/23
- ^ Intuit Quickbooks. Power your business with productivity, Retrieved 12/6/23
- ^ Intuit QuickBooks. QuickBooks Live, Retrieved 3/6/23
- ^ Intuit QuickBooks. QuickBooks Payroll Pricing, Retrieved 8/26/23
- ^ Intuit QuickBooks. QuickBooks Payments Pricing, Retrieved 3/6/23
- ^ Intuit Quickbooks. Payment Rates, Retrieved 12/6/23
- ^ Intuit QuickBooks. QuickBooks Time Pricing, Retrieved 8/26/23
- ^ Intuit. Tax Forms, Retrieved 12/02/2023
- ^ QuickBooks. Voucher Checks, Retrieved 12/02/2023
- ^ Intuit QuickBooks. QuickBooks Desktop, Retrieved 8/26/23
- ^ Xero. Pricing Plans, Retrieved 3/6/23
- ^ FreshBooks. Pricing, Retrieved 3/6/23
- ^ Wave. Accounting software, Retrieved 3/6/23
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