No discussion about top accounting software is complete without mentioning QuickBooks. It’s a staple in business accounting that’s recognized for its robust features and versatility.
But here’s a question that often slips through the cracks: how much does QuickBooks cost per year? Understanding this will help you budget and choose the right plan for your business goals.
Keep reading to discover:
- The prices of different QuickBooks plans.
- How to save on QuickBooks Online.
- Which plan fits your budget best.
Let’s dive in!
What is QuickBooks?
QuickBooks is a versatile accounting software designed for small and medium-sized businesses. It simplifies financial tasks, such as:
- Tracking expenses and sales.
- Invoicing.
- Payroll and payment processing.
- Tax preparation.
- Financial reporting.
Whether you prefer cloud-based or desktop versions, QuickBooks has you covered, as you can choose which different edition type (e.g., Pro, Premier, Enterprise) works best for your business. This variety, along with its easy-to-use interface, is why QuickBooks compares favorably with other accounting software.
Start your free trial of QuickBooks here.
How much does QuickBooks cost per year?
Are you wondering: how much does QuickBooks cost per year? It’s a common question, especially as your company evaluates its pricing strategy each year.
Having extensively used the product, our team estimates the yearly cost to be within a range of $420 to $4,668. This depends on several factors, including:
- Competitive pricing: QuickBooks updates its pricing model based on competition and varies its pricing based on market demand.
- Feature-based pricing: Intuit largely prices its services based on features and tiers.
- Version and users: Pricing also depends on your QuickBooks version and number of users, catering to all business sizes.
- Feedback-driven pricing: The platform partly determines its yearly price based on customer feedback.
- Add-on costs: There are additional fees for add-ons in QuickBooks, such as integrated payment solutions for credit cards and PayPal transfers.
It’s all about choosing the right fit for your operations based on a balance between costs and perceived value.
QuickBooks pricing plans
QuickBooks quotes a different price for desktop vs. online versions. It ranges from basic to enterprise pricing annually. Let’s explore each plan to determine which fits your accounts best!
Note: All prices are listed in USD.
QuickBooks Online Simple Start plan
The QuickBooks Online Simple Start plan is priced at $35 per month. However, QuickBooks offers a 50% discount for your first three months at $17.50 per month.
The Simple Start plan offers essential tools for small businesses to:
- Track income and expenses.
- Create estimates and invoices.
- Manage taxes.
- Print checks.
- Automate bookkeeping processes.
Note that QuickBooks excludes advanced analytics from the basic yearly plan.
QuickBooks Online Essentials plan
The QuickBooks Online Essentials plan is priced at $65 per month. However, QuickBooks offers a 50% discount for your first three months at $32.50 per month.
The Essentials plan goes beyond what Simple Start offers to bring added functionality to your business. It:
- Accommodates up to three users.
- Simplifies bills and payments.
- Supports multiple currencies.
- Enables time tracking.
QuickBooks Online Plus plan
QuickBooks Online values its premium offerings higher with the Plus plan.
It’s priced at $99 per month. However, QuickBooks offers a 50% discount for the first three months at $49.50 per month.
The Plus plan offers an expanded suite of features for growing businesses. It:
- Accommodates up to five users.
- Enables project profitability tracking.
- Manages inventory.
- Supports budget creation and management.
- Tracks classes and locations.
Note that QuickBooks assesses additional fees for add-ons.
QuickBooks Desktop Enterprise
Unlike the Online version, QuickBooks Desktop Enterprise charges an annual subscription fee. Users like Enterprise because it:
- Calculates the annual cost based on user tiers.
- Lists its annual pricing transparently on its website.
- Negotiates special rates for large enterprises.
- Subscribes users to a yearly plan by default.
QuickBooks Desktop Enterprise offers three plans: Gold, Platinum, and Diamond. Each offers a different level of functionality, and the following pricing for the first year:
- Gold plan: Essential functionality at $1,922 per year.
- Platinum plan: Advanced features for $2,363 per year.
- Diamond plan: Top-level automation and tools at $4,668 per year.
Despite varying functionalities, each plan includes certain features in the annual subscription:
- Up to 30 users, or 40 with the Diamond plan.
- Bank integration and built-in payroll.
- Cloud access.
- Secure online backup data storage.
- Advanced reporting tools.
- Multi-company management.
When considering, “How much does QuickBooks cost per year?” assess your business’ unique needs. Choose a plan that aligns with your operations and budget to ensure a meaningful return on investment (ROI).
QuickBooks Online vs. QuickBooks Desktop
When asking, “How much does QuickBooks cost per year?” another aspect to consider is the comparison between QuickBooks Online and Desktop.
The main differences between the Online vs. Desktop version are in:
- Accessibility.
- Functionality.
- Pricing.
Let’s compare and contrast these two options.
QuickBooks Online
QuickBooks Online is a flexible software that’s ideal for general accounting tasks. It:
- Is cloud-based.
- Allows for real-time collaboration.
- Excels with mobile app integration.
- Operates on a monthly subscription.
- Allocates additional fees for premium support.
- Has usage limits depending on your subscription.
- Budgets for regular software updates in the cost.
QuickBooks Desktop
On the other hand, QuickBooks Desktop offers a more traditional solution for complex accounting needs. It:
- Is self-hosted.
- Has data storage limits.
- Sets a fixed price for the entire year that includes cloud access and hosting fees.
- Bills annually unless a monthly plan is chosen.
- Requires a yearly renewal for continued access.
- Increases its annual fee for advanced features (e.g., job costing, industry-specific tools).
- May require additional upgrade and update charges.
Shared aspects
Despite the differences in self-hosted vs. cloud-hosted pricing, QuickBooks Desktop and Online share several aspects. Both have:
- Customer support and training costs included.
- Add-on services (e.g., payroll, advanced inventory).
- Third-party app integration charges.
- Data migration and setup fees.
- Customization and integration fees.
Who is QuickBooks best for?
If you’re asking, “How much does QuickBooks cost per year?” you might be interested in knowing who QuickBooks is best suited for.
QuickBooks is an ideal choice for a broad range of users, including:
- Small-to-medium businesses (SMBs): QuickBooks caters to SMBs seeking efficient financial management.
- Contractors: It offers specific tools for project management and job costing.
- Entrepreneurs: QuickBooks’ simple interface and basic plans are perfect for cost-conscious entrepreneurs and self-employed individuals.
- Growing businesses: Advanced plans provide features like inventory management and detailed reports to drive growth.
- Accountants and bookkeepers: The software’s comprehensive features make it a favorite among financial professionals for managing customers.
To sum up, QuickBooks’ versatility makes it suitable for all sorts of business sizes and types.
How to save on QuickBooks Online
Looking for ways to save on QuickBooks Online is a smart move when considering, “How much does QuickBooks cost per year?”
While monthly fees and add-on costs add up, there are several ways to manage and reduce these expenses.
Let’s explore some practical tips for saving money on QuickBooks Online.
Check for QuickBooks Online sales and discounts
To maximize savings on QuickBooks Online, keep an eye out for sales and discounts. QuickBooks’ 30-day free trial and initial discounts are great starters.
Additionally, QuickBooks discounts its annual subscription during promotions, so keep an eye out for those.
For further savings, it’s worth reaching out to their sales team. Sometimes, QuickBooks affords small businesses a special rate and offers discounts for multi-year commitments — meaning Intuit decreases its price if subscribed for multiple years.
Make sure you are using the right QuickBooks plan
Picking the right QuickBooks plan makes all the difference. Opt for a QuickBooks plan that fits your business needs, and stay away from extra bells and whistles to avoid paying for unneeded extras.
Cancel the unused QuickBooks integrations
If you’re content with QuickBooks Online’s out-of-the-box features, consider canceling any unused integrations.
For example, if you’re not using a particular invoicing tool or time-tracking feature but are paying for it, canceling idle integrations cuts costs without impacting your operations. This simplifies your setup and ensures you’re not paying extra for what QuickBooks already covers.
Remember to review QuickBooks Online’s cancellation and refund policies before making any changes — it’s a smart step to stay informed and cost-efficient!
Check for a QuickBooks Online and Payroll bundle discount
For new companies, consider bundling QuickBooks Online with QuickBooks Payroll to access potential discounts. Intuit often offers savings on these kinds of bundles, especially when coupled with contract discounts (e.g., multi-year commitment).
QuickBooks Payroll comes at an additional cost. It offers these three pricing plans, with a 75% discount on your first six months:
- Payroll Core: $25 per month.
- Payroll Premium: $55 per month.
- Payroll Elite: $80 per month.
From leveraging discounts to finding the right plan, these cost-saving strategies are key when asking, “How much does QuickBooks cost per year?”
Which QuickBooks Online pricing plan is right for me?
Once you’ve tackled the question, “How much does QuickBooks cost per year?” the next step is finding a plan that aligns with your needs.
The ideal plan depends on your:
- Budget.
- Team size.
- Business type.
- Features needed.
- Employee access levels.
To ensure you make the right choice, take advantage of trial and demo availability for your preferred solution. Also, don’t forget to check out the reviews for each plan — they’re excellent for helping you pinpoint the ideal choice or figure out if it’s time to seek alternatives.
Remember: It’s essential to have precise information on hand, as everything from pricing to products impacts your decision.
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Image credit: Ketut Subiyanto via Pexels
