Benefits Of QuickBooks Online For Startups


1. QuickBooks Online offers affordable pricing.
Most startups have to work within a tight budget in the early days of operation, so choosing an accounting system with affordable monthly fees is a necessity. QuickBooks is one of the least expensive options on the market, offering pricing plans that start from a very low price per month with robust accounting features. As your business grows and you need to add more users to your QuickBooks plan, it’s easy to switch to a higher pricing plan without losing any of your data. Unlike some COTS accounting software, QuickBooks does not lock your startup into a lengthy contract: You’re free to switch or cancel your subscription at any time, and you won’t need to commit to paying a lump sum upfront.

2. QuickBooks Online includes a wide range of features.
Not only does QuickBooks Enterprise Hosting offer affordable plans, it also provides good value for startups. QuickBooks’ bookkeeping features include all the basics most startups need, including income and expense tracking and essential reporting, including your monthly financial statements (profit and loss statement, or P&L, balance sheet, and statement of cash flow). For growing businesses that have more advanced finance needs, you can easily add extra capabilities and features like bill pay (accounts payable), invoicing (accounts receivable), inventory tracking, and sales reporting by upgrading to QuickBooks Online Pro plan. To see how QuickBooks’ feature set compares with other popular bookkeeping software platforms, take a look at our accounting software comparison for startups.


3. QuickBooks Online integrates with many other financial tools.
Most startups use a number of financial tools to manage the various aspects of their accounting processes, including payroll software, bank accounts, credit card accounts, and invoice and bill pay tools. Particularly as your business grows, you may need specialized finance tools that can handle a higher level of complexity for each function. Some accounting software options only integrate with a handful of other platforms and limit the other finance tools from which you can choose. QuickBooks Online integrates with over 650 other business tools—including Bill.com, Expensify, Justworks, PayPal, and Gusto—and automatically syncs all your data, so you can understand the full picture of your startup’s financial health and streamline your month-end close process.

4. QuickBooks Online is easy to use.
Many startups and small businesses alike begin with using QuickBooks Online because of its user experience; QBO is one of the easiest accounting software platforms to implement and provides users with greater functionality than spreadsheets. More complex platforms like NetSuite or Sage can require several months of setup before you can use the software and cost tens of thousands of dollars for a third-party expert to migrate your data. With QuickBooks Online, you can start using the platform within the first day, and full data migration and setup only takes a few days (depending on how long your business has been in operation).
The QuickBooks Online interface is user-friendly and intuitive, so even founders with limited finance experience can find the information they need to start carrying out basic bookkeeping. QuickBooks offers video tutorials, including a virtual orientation process and other online lessons, that explain how to use the platform.

5. QuickBooks Online is popular with bookkeepers, accountants, and finance firms.
When you’re choosing a bookkeeper, accountant, or finance firm to work with your startup, it’s important to know if they have experience with your accounting software. If they aren’t familiar with your chosen platform, you are more likely to end up with errors or missed opportunities in your accounting processes. Especially if you choose uncommon or brand-new accounting software, it can be challenging to find finance professionals with the right experience to manage the software, and still provide the expert advice and guidance your business needs. One of the benefits of using QuickBooks is that it is a well-established and popular choice among accounting professionals.


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