Whether you are a tax accounting firm owner or a CPA, good accounting software can significantly improve work productivity and efficiency. Choosing the right and best accounting software for a small business to manage your finances is complex. There are many accounting software programs on the market, but what suits the needs of your business is essential. QuickBooks accounting applications have many versions, like QB Pro and QB Premier. Are you looking for QuickBooks Pro hosting on your systems? If yes, check out the detailed information about QB.
According to a report, QuickBooks has captured 66.58% of the accounting software market share. This is followed by Sage 50 at 10.30% and Xero at 9.80% market share. Intuit’s QuickBooks has over 29 million business operations, with 80% of the customers coming from the USA and 5% coming from neighbouring Canada. Additionally, over 62% of the QB users are from small and medium businesses.
In this blog, we will learn about the online accounting software for small & medium businesses.
Top Industries that use the QuickBooks Software.
Source: Business Dasher
What is QuickBooks Online Accounting Software?
QuickBooks is a popular cloud-based accounting software across the globe, especially in the United States. It is considered the best accounting software for small businesses. Though QB does not offer a free version of its software, through a trial, you can try QB free accounting software for small businesses and then take a subscription. Through QuickBooks hosting, you can access the application on your systems.
Since QuickBooks is hosted remotely on the cloud, you get the option to access the application from any location at any time. This makes team collaboration and communication efficient. QuickBooks accounting is best for managing your financial operations and cash flows, paying invoices, and managing accounts payable and receivable. You can keep track of the expenses, get financial reports, and learn tax filing figures and compliance mandates within the software itself.
QuickBooks’ market share compared to that of other competitors.
Source: InfoClutch
Also Read: QuickBooks Error 15276 Solution: Resolve Update Issues Quickly
Why is QuickBooks the Best Accounting Software for Small Businesses?
- Offers Seamless Integration
QB accounting software is very flexible and allows over 500 third-party app integrations. This makes it easier for small businesses to connect to other applications within QuickBooks. It makes the task quicker and more productive.
- Enhanced Customization Options
One of the major reasons small business owners choose QB is that it offers customizable invoice templates, reports, and a chart of accounts. The higher customization option makes it easier to curate tasks according to business needs and requirements.
- Cost & Time Saving
With quicker tasks and automation features, tiring manual data entry work is eliminated, reducing long data entry time consumption. Moreover, QB’s application is pocket-friendly and has subscriptions to suit every business need.
- Real-time Insights and Analysis
QuickBooks provides crucial insights on financial reports and accounting parameters, making it easy for small business owners to make informed decisions. Did you know? Over 76% of QB users think real-time insights and analysis are good for their business decisions.
- Tax Optimization Benefit
Another prime benefit of using QB accounting is getting tax-related savings and deductions information. Filing taxes with QBs has become a lot easier and smoother with tax-saving insights and a future action plan.
- Free Mobile App
QuickBooks offers a free mobile application to its users. It saves time, and users can quickly capture receipts and payments on the go.
QuickBooks Accounting Products You Should Know
| QuickBooks Online | QuickBooks Pro Plus | QuickBooks Premier Plus | QuickBooks Enterprise | |
| Pricing Plans | Starts at $35 per month. | Starts at $549 per year for one user base. | Starts at $799 per year for one user base. | Starts at $1410 per year for one user base. |
| Number of Users per plan | Up to 25 users. | Up to 3 users. | Up to 5 users. | Up to 40 users. |
| Form factor | Cloud-based. | Desktop-based. | Desktop-based. | Cloud-based as well as Desktop-based. |
| Suitable for | Small business types. | Small businesses. | Small & medium businesses that require industry-specific tools and integrations. | Large business setup with a huge inventory and reporting mandate. |
| Note: You can also get QuickBooks Solopreneur and QuickBooks Mac Plus products with many features and functions. | ||||
Countries that use QuickBooks Accounting Software for Small Businesses.
Source: Enlyft.
Conclusion
QuickBooks is one of the most popular accounting software programs in the United States and elsewhere. It offers many accounting features, over 500 integration options, enhanced customizations, and flexibility. This is why users blindly trust QBs’ accounting applications. The QuickBooks application has many features like invoice payments, report generation, tax compliance, accounts receivable, and financial operations management. Moreover, QB products are pocket-friendly and designed to suit the needs of small, medium, and large business types. Amazingly, the United States has the maximum percentage of QuickBooks users. Businesses can also get QuickBooks hosting on their existing systems.
FAQs (Frequently Asked Questions)
What is the simplest accounting software for a small business?
Intuit’s QuickBooks Online is the simplest accounting software for a small business. It offers many features like third-party app integrations, reporting, managing finances, and invoicing.
Is QuickBooks worth it for small businesses?
Absolutely. QuickBooks is a good choice for small businesses looking to manage their finances smoothly. It offers a free mobile application to make the task easier for users.
Which software is best for a small business?
There are many accounting software brands in the market, but QuickBooks Online accounting software is the most trusted and popular application designed for small businesses. QuickBooks accounting software for small businesses is the best. Other accounting software brands are Xero and Zoho Books.
What is the most commonly used accounting software?
QuickBooks version of QB Online is the most commonly used accounting software across the globe. However, over 62% of QuickBooks users are solely from the United States.
