QuickBooks small business accounting: Review and pricing

Quickbooks helps you manage your accounts, including sending invoices, tracking expenses, managing payroll and even filling in your tax return.

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QuickBooks

What is QuickBooks?

QuickBooks is accounting software that makes balancing your books easier – it synchronises with your bank account and automates certain accounting actions.

You can use QuickBooks to create professional invoices for your business, track expenses, pay employees, file your self-assessment and connect to apps your business uses. You get to choose from various pricing plans that Intuit (the maker of QuickBooks) offers, according to the type of business you run.

Pricing and packages

If you want to test the water before taking the plunge, it’s worth considering the 30-day free trial offer. Unlike most free trials, QuickBooks doesn’t ask for your credit card details up front.

If you’re considering moving to the paid version after the free trial, it’s important to remember that you can tailor the version you get to the type of business you run. Below is a breakdown on pricing and packages.

Self-employedSimple StartEssentialsPlus
Monthly plan£3£5£8£12
No. of users1 user1 userUp to 3 usersUp to 5 users
Features
  • HMRC self-assessment
  • Income tax estimates
  • Multiple bank and credit card connections
  • Income and expense management
  • Mileage tracking
  • Reporting
  • Unlimited invoicing
  • Snapped, sorted and stored receipts
  • Separate personal and business transactions
  • Free chat messaging support
  • Making Tax Digital for VAT submissions
  • SmartScan™ error checker for VAT
  • Unlimited pay-enabled invoicing
  • Multiple bank and credit card connections
  • Income and expense management
  • Cash Flow PlannerNEW
  • Snapped, sorted and stored receipts
  • Mileage tracking
  • Reporting
  • CIS calculations
  • Free UK phone support
All features of the Simple Start plan, plus:

  • Bills and payments management
  • Multi-currencies supported
All features of the Essentials plan, plus:

  • Stock management
  • Employee time tracking
  • Project profitability tracking
  • Budgeting

Features and benefits

  • Sync with bank. You can connect QuickBooks to your bank accounts and keep track of purchases, cash withdrawals and fund transfers. Since you can download all the required information directly from your linked accounts, you don’t have to make manual entries.
  • Create professional invoices. You can create customised invoices with company branding in QuickBooks and choose whether you want to accept payments with PayPal or bank transfer.
  • Track expenses. The option of capturing and saving receipts using your phone makes tracking expenses easy.
  • Connect to apps. Integrating QuickBooks with apps your business already uses should not be difficult. Some of the platforms you can integrate with QuickBooks include PayPal, Square, Receipt Bank, Stripe, Fundbox, Microsoft Power BI, Gusto and LivePlan.
  • Bill payments. Recording and paying vendor bills is easy when you use QuickBooks, and you can also schedule recurring payments if you need to.
  • HMRC self-assessment. QuickBooks can be used to take the (considerable) hassle out of preparing and filing your tax self-assessment.
  • Online reports. QuickBooks Online gives you access to various reports that can give you a clear indication of how your business is doing. These include company snapshots, profit and loss statements, as well as balance sheets.
  • Pay employees. QuickBooks Payroll gives you an easy way to sort out payslips, pensions and statutory pay. You simply have to enter employee hours and the software does the rest. Note this service requires an additional fee.

Customer reviews of QuickBooks

Reviews for QuickBooks are generally positive across the board.

Trustpilot Google Play App store

★★★★★

4.6 out of 5
Based on 5,089 reviews

★★★★★

4.2 out of 5
Based on 35,328 reviews

★★★★★

4.7 out of 5
Based on 17,500 reviews

Customers love the ease-of-use of both the desktop and app versions and praise the customer service, but some report consistent tech issues with the app.

Pros and cons of QuickBooks

Pros

  • Synchs with your bank to easily track your income and expenses
  • Helps to prepare and file your HMRC self-assessment
  • 30-day free trial available, without entering credit card details

Cons

  • Payroll services cost extra
  • Not all features are available on mobile devices

Frequently asked questions

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