Choosing Between QuickBooks Online Plus and Advanced: What You Need to Know

If you're a small to medium-sized business owner looking for reliable accounting software, it's likely that QuickBooks Online has caught your attention. Among its offerings, the two plans that stand out are QuickBooks Online Plus and QuickBooks Online Advanced. Understanding these plans is crucial in deciding which one will best meet your business needs. In this post, we will walk you through the key differences, helping you determine which QuickBooks plan is the right fit for you.

User Capacity

One of the first considerations when choosing a software plan is the number of users it will support. QuickBooks Online Plus accommodates up to 5 users, making it an excellent option for smaller teams. On the other hand, QuickBooks Online Advanced can handle up to 25 users, catering to larger organizations that require more collaboration. If your business is on a growth trajectory and you anticipate requiring more users, the Advanced option could save you future headaches.

Customization and Reporting

Customizing your accounting tools is important for effective data management. In QuickBooks Online Plus, you can create up to 10 custom fields. However, if you need more complexity, QuickBooks Online Advanced allows for 20 custom fields, giving you enhanced control over how you track data.

When it comes to reporting, Plus provides standard reporting capabilities, which might be sufficient for smaller operations. However, Advanced users enjoy advanced reporting features, enhanced customization options, and integrated business analytics with Excel. This means you can generate sophisticated reports that help unveil actionable insights, potentially leading to more informed business decisions. In the long run, effective reporting can save you money by identifying trends and areas for cost reduction.

Automation and Workflow

To keep your business running smoothly, automation is key. QuickBooks Online Plus offers essential automation tools to make daily operations simpler. Still, for businesses that deal with complex workflows, QuickBooks Online Advanced offers features such as workflow automation, batch invoicing, and streamlined expense management tools. This can significantly reduce the time your team spends on repetitive tasks, ultimately leading to cost savings and increased productivity.

Support and Training

Every business needs support, especially when they encounter issues or have questions about their software. QuickBooks Online Plus comes with standard support services. Conversely, QuickBooks Online Advanced provides a dedicated account manager, priority support, and even free access to online training courses and webinars. The latter can help your team become proficient in using the software efficiently and effectively, potentially saving you training costs in the long run.

Integration and Scalability

As your business grows, so does the need for software that can expand alongside you. QuickBooks Online Plus integrates with standard third-party applications, which may work for smaller businesses. However, QuickBooks Online Advanced offers premium app integrations with essential platforms like HubSpot, Docusign, and Salesforce. This capability ensures that as your business scales, your accounting software can seamlessly sync with other tools, thereby streamlining your operations and reducing errors.

Pricing

Pricing is always a concern for small business owners. QuickBooks Online Plus is priced more affordably, making it ideal for small to medium-sized businesses with basic accounting needs. In contrast, QuickBooks Online Advanced costs more, reflecting its expanded features and capabilities. The key takeaway is to evaluate whether the advanced features are worth the investment for your specific business model.

Conclusion

In conclusion, for small to medium-sized businesses with basic accounting needs and a limited number of users, QuickBooks Online Plus offers a cost-effective solution. It may very well meet your current accounting needs without breaking the bank. However, if you are a growing business that requires sophisticated features, greater customization, and enhanced support, then QuickBooks Online Advanced provides the tools necessary to manage complex financial operations. Though it comes at a higher cost, the potential for long-term time and money savings through efficiency gains cannot be overlooked.

Choosing the right plan is a pivotal step in streamlining your business operations, and with these insights, you can make an informed decision tailored to your growth ambitions.