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Is QuickBooks an accounting system? – QuickBooks review

QuickBooks / By

Is QuickBooks an accounting system? Find out what features it offers and how it can help you manage your business.

Is QuickBooks an accounting system? – QuickBooks review Read More »

Some businesses have enough assets and manage enough transactions to need a ten-person accounting department. Others manage their finances through a system that is run by just one or two people. 

But, businesses of all sizes rely on software to coordinate all their team members and finances, such as QuickBooks.

So, is QuickBooks an accounting system?

Let’s find out!

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What is QuickBooks?

Intuit QuickBooks is classified as an accounting system that performs financial tasks ranging from invoicing to expense tracking. 

Even though it is characterized as an accounting system that caters to the needs of businesses in diverse industries and of varying sizes, it also carries out the function of an ERP in many ways through its integration capabilities.

Start your free trial of QuickBooks Online here. 

Is QuickBooks an accounting system?

QuickBooks is an accounting system. It operates like a financial hub for your company that handles everything from basic bookkeeping to complex financial reporting.

That said, QuickBooks functions as an all-encompassing program through its integration options with: 

  • CRMs. 
  • Field service systems.
  • Other popular software solutions.

But in order to answer the question, “Is QuickBooks an accounting system?” more comprehensively, you need to know what it actually does. 

Common QuickBooks use cases for accounting

QuickBooks serves like any other accounting tool, but it does basic functionality better than alternatives while it also offers more advanced features.

It’s a versatile and user-friendly tool for nearly all your accounting tasks, which each represent a critical component of your company’s financial health. For example, it has functions like:

  • Payment processing through credit cards and other payment methods.
  • Time tracking and job costing.
  • Cash flow management.
  • Income, revenue, and profit tracking.

QuickBooks for payroll

In addition to general accounting, QuickBooks doubles as a dedicated payroll processing system. It takes on the role of managing payroll for employees, merchants, and vendors to ensure every payment is: 

  • Accurate.
  • Timely.
  • Compliant with taxes.

Start your free trial of QuickBooks Payroll here. 

QuickBooks for bookkeeping

For bookkeeping, QuickBooks acts in the capacity of a business manager. QuickBooks is commonly referred to as an accounting system because it keeps track of all your transactions to keep your books clean and up to date. It can also handle the data of more than one company at a time.

It works as a central hub for managing accounts payable and receivable, offering cloud-based accessibility and secure data encryption. The software is tailored to serve businesses of all sizes to ensure that every financial aspect is handled efficiently, from sales and payments to bills and bank reconciliations.

QuickBooks for invoices

QuickBooks is known to function as an accounting system, and invoices are no exception. It has the features of a comprehensive invoicing and billing system with customizable templates and secure data encryption. 

In a nutshell, QuickBooks simplifies the process of billing clients and managing accounts receivable.

QuickBooks for tax benefits

QuickBooks is viewed as an accounting system that performs as a proficient tax preparation and filing assistant. It helps manage tax-related transactions to ensure your business stays on top of its tax obligations.

QuickBooks for accounts receivable

QuickBooks also operates as an accounts receivable tracker. It ensures that every invoice you send to customers is accounted for and managed efficiently. 

QuickBooks is described as an accounting system that performs a number of accounts receivable functions for your business. This is mainly because it helps you with your business essentials to help you get paid on time for your products and services.

QuickBooks for banking transactions

QuickBooks is recognized as an accounting system that excels in banking transactions. It performs the function of a banking assistant as it deals with all bank-related activities and reconciliation.

QuickBooks supports freelancers, contractors, and other business owners in their operations — even when they don’t have a large enterprise to manage their finances.

QuickBooks for credit card transactions

QuickBooks falls under the category of accounting systems that manage payments. When handling debit and credit card transactions, it acts as a secure platform that provides businesses the ability to manage sales, expenses, and fees effectively.

Features of QuickBooks

Now you’ve answered, “Is QuickBooks an accounting system?” let’s see what it has to offer.

QuickBooks is loaded with features that serve the accounting needs of a variety of users:

Time tracking

QuickBooks takes the form of a time-tracking tool, letting you manage your team’s schedules and shifts, monitor employee hours, and allocate resources efficiently. Plus, it lets you automatically invoice worked hours.

Financial statements

If you’re still not convinced, QuickBooks is affirmed to be an accounting system because of its financial reporting. 

It behaves as a robust reporting tool that offers businesses a range of reports to gain insights into their financial health. Business owners can see their recorded loss and profit, as well as the details of what drives their growth.

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Online and Desktop versions

With both online and desktop versions, QuickBooks is identified as an accounting system that caters to different user preferences. It offers cloud-based accessibility and multi-user capability.

If you’re a business owner who also assumes the position of salesperson, contractor, PR representative, or any other job that involves changing locations, a flexible solution is a must.

Credit card accounts

For credit card accounts, balance sheets, and more, QuickBooks acts like a comprehensive financial management tool equipped with features to meet your business requirements.

Balance sheets

QuickBooks serves as an essential tool for creating balance sheets and a reliable chart of accounts. 

Since it is considered an accounting system, this solution offers small business owners and accountants the ability to generate detailed reports that reflect the company’s financial position, including: 

  • Assets.
  • Liabilities.
  • Equity. 

These balance sheets are key for analyzing your company’s financial health and are vital to the overall accounting package that QuickBooks provides.

Advanced features

QuickBooks is acknowledged to be an accounting system that’s better than alternatives because it is equipped with advanced features that go beyond basic bookkeeping. 

It includes capabilities like:

  • Budgeting and forecasting.
  • Inventory management.
  • Customizable reporting.

These features make it a comprehensive solution for businesses seeking robust accounting software.

Also, QuickBooks is typically seen as an accounting system that goes beyond traditional limits because of its integration capabilities. You can integrate it with all kinds of software systems to manage your business from end to end.

Accounting solution

As a whole, QuickBooks is labeled as an accounting system that caters to a wide range of financial needs. It acts as a central hub for managing your accounts payable and receivable, and it offers cloud-based accessibility and secure data encryption. 

The software is tailored to serve businesses of all sizes and ensures that you handle every financial aspect efficiently, from payroll processing to tax filing.

Benefits of using QuickBooks for accounting

So, is QuickBooks an accounting system? Absolutely, but how does it help your business? 

Let’s see what benefits it offers:

Automating accounting processes

QuickBooks is defined as an accounting system that simplifies and automates accounting processes. For example, it helps with customer and vendor management by sending out automatic invoices and payments. This saves time that you can reinvest into business growth.

Work on the go

With its mobile app functionality, QuickBooks is acknowledged as an accounting system that enables users to handle accounting tasks on the go. This provides flexibility and convenience to make getting the work done easier.

Real-time reports

QuickBooks delivers real-time reporting capabilities, which offer businesses up-to-date financial information for informed decision-making.

Payroll management

QuickBooks can be categorized as an accounting system that simplifies the payroll management process. The platform ensures accuracy and compliance with all applicable laws and regulations to avoid the liability of incomplete processes.

You can set up automatic payroll deposits, manage your team’s health benefits, and increase transparency with an employee portal.

Ability to handle big data

Despite its affordability, QuickBooks provides the features of an enterprise-level solution.

It can manage large volumes of data and perform automated backups. It offers robust data management and analysis features for businesses of all sizes. As a result, it also plays the role of a document and information management system.

QuickBooks is perceived as an accounting system that excels in managing extensive data. It’s like having a financial analyst who specializes in handling and interpreting large volumes of business data. 

Whether it’s sales, inventory, or expenses, QuickBooks organizes your finances and transforms them into insightful reports and dashboards. This capability ensures that your business, big or small, can make data-driven decisions.

So, is QuickBooks an accounting system? Yes. Is accounting the only thing it can help you with? No — especially with the right integration.

Enhance QuickBooks automation with Method

QuickBooks also integrates with apps like Method CRM to expand its functions. 

This explains why QuickBooks, which is understood to be an accounting system, also serves as a platform for workflow customization, automation, and more. 

Method represents the #1 CRM for QuickBooks due to its real-time, two-way sync.

How much does QuickBooks cost?

QuickBooks offers various pricing plans to suit different business sizes and needs, ranging from $35 to $235 USD a month. 

From basic versions for solo entrepreneurs to more advanced options for larger companies, the price range reflects the versatility and depth of QuickBooks’ features. 

Each plan comes with a detailed breakdown of services to ensure transparency in what you pay for.

Is QuickBooks right for your business?

Whether you’re a freelancer, a small business owner, or running a larger company, QuickBooks offers various versions to meet your requirements. 

It is generally accepted as an accounting system that functions comprehensively for different sectors, as it provides features like: 

  • Payroll processing.
  • Tax filing.
  • Inventory management.

That said, even though the answer to the question, “Is QuickBooks an accounting system?” is yes, you should consider different programs, too, such as Xero. It takes some research to find the best fit for your unique business needs.

Read this article to pick the right software for your business.

Frequently asked questions (FAQs)

Do I need an accountant if I use QuickBooks?

QuickBooks doesn’t replace an accountant. It complements the expertise of financial professionals by offering detailed, organized financial data.

So, is QuickBooks an accounting system that replaces accountants entirely? Definitely not.

What is the difference between QuickBooks Online and QuickBooks Desktop?

The main differences between QuickBooks Online and QuickBooks Desktop are their accessibility and functionality. 

QuickBooks Online, a cloud-based service, gives access from anywhere. 

In contrast, the Desktop version is more robust in data handling and offers specific features suited for businesses that prefer software that’s locally installed.

Is there a free version of QuickBooks?

QuickBooks offers a 30-day trial period. This trial lets you experience how QuickBooks helps manage your finances — before you commit to monthly payments.

QuickBooks gets you started, Method helps you grow. Get free demo.

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How to keep track of inventory: A beginner’s guide

Manufacturing / By

Learn the tips and tricks on how to keep track of inventory. Read this guide to manage your inventory efficiently, from start to finish.

How to keep track of inventory: A beginner’s guide Read More »

Learning how to keep track of inventory efficiently is crucial for the success of your small business. 

In this guide, you’ll learn all the tips and tricks you need to manage, monitor, and organize your inventory effectively to:

  • Keep accurate records.
  • Prevent inventory shrinkage or surplus.
  • Save time and money. 

You’ll also review the following features of your workflow:

  • SKU (stock keeping unit) tracking: RFID tags, batch tracking, barcode scanning, and expiry date monitoring.
  • Supplier management and lead time: Safety stock levels, inventory turnover rate, reorder point calculations, minimum order quantity (MOQ), and economic order quantity (EOQ).
  • Supply chain management: Multichannel inventory management, inventory valuation (e.g., cost method, market value), and demand forecasting.

So, let’s find out how to keep track of inventory!

What is inventory management?

The first part of learning how to keep track of inventory is recognizing what it actually is. 

Inventory management is the process where organizations oversee and control all aspects of their stock. It involves tracking the flow of goods and materials through these steps: 

  1. Beginning at your supplier.
  2. Moving to your warehouse and shelves.
  3. Shipping to your customers.

Ideally, the team that manages your inventory logs each product entry and exit. They should follow every article through its lifecycle in your warehouse.

Inventory management involves roughly three stages: 

  1. The inventory receiving process (input of goods).
  2. Inventory maintenance and storage.
  3. Order fulfillment (inventory output).

Inventory receiving process

Team members who manage this stage:

  • Inspect and verify the received items’ quality.
  • Review and compare purchase orders to the received lot and document discrepancies.
  • Count and scan the number of received items to manage their storage.
  • Evaluate providers on the basis of the quality of their shipments.

Inventory maintenance and storage

Employees in the warehouse are typically responsible for this stage. They:

  • Measure and register inventory levels.
  • Alert the company when a product restock is needed.
  • Tally, itemize, label, and store goods based on type, expiration date, turnaround time, and other factors.
  • Conduct periodic audits and log the results in robust spreadsheet reports.

Order fulfillment

The team members responsible for this stage:

  • Calculate stock levels after every sale.
  • Check each shipment against its purchase order.
  • Create detailed spreadsheets that report the error rate in the fulfillment process.

These are just a few of the processes involved in inventory management and warehousing. So, learning how to keep track of inventory efficiently takes time. 

Note that some of those processes are unique to organizations that don’t use an inventory management system. Some businesses still carry out their operations manually — with pen and paper or through spreadsheets on a computer. For such companies, the efforts to retrieve valuable information from manual processes are lengthy and sometimes impossible. 

Plus, most businesses don’t even try to archive all their data correctly. What results is revenue loss and a constant leak of your resources. So, it’s essential to learn how to keep track of inventory accurately from the beginning.

Why is tracking inventory important?

Efficient inventory tracking is vital for small businesses in many ways, as it:

  • Reduces overhead costs with efficient management.
  • Streamlines the ordering process.
  • Enables informed decision-making
  • Prevents stock-related issues.
  • Ensures customer satisfaction. 

Inventory management requires a systematic approach. It’s important for businesses to implement best practices when they’re starting out in order to build a reliable foundation for growth. 

Manual processes can work when there are a few orders, but as a company grows, being able to generate information on every task and execute each process consistently are crucial for success. 

This is where your company benefits from modern software tools. For example, an inventory tracking system automatically records everything you need to keep adequate stock levels and capture every sales opportunity. These systems also help you learn how to keep track of inventory by providing you with a roadmap of best practices.

Improved decision-making

Keeping a close eye on your inventory levels empowers you to make informed decisions. With accurate data on product stock, you can:

  • Identify top-selling items.
  • Optimize reorder levels.
  • Increase profitability.

Enhanced customer satisfaction

Running out of popular goods is a lost opportunity to increase your profit and retain customers. By tracking your items, you ensure that you always have in-demand products in stock, which leads to happier customers and repeat business.

Potential for improved productivity

Efficient inventory management means you spend less time dealing with stock issues and more time growing your business. Simplifying your processes leads to increased productivity and reduced operational costs.

How to keep track of inventory

By keeping track of inventory, businesses can:

  • Maintain accurate stock levels.
  • Minimize losses.
  • Optimize operations for sustained growth.

So, here are a few factors you should consider when figuring out how to keep track of inventory.

Choose an inventory management tool

Keeping track of your inventory effectively without inventory management software can be next to impossible, depending on the size of your business.

So, investing in the right inventory management software makes a world of difference. Look for user-friendly software that fits the scale of your business and helps you:

  • Automate tasks.
  • Track sales trends.
  • Keep a real-time view of your stock. 

For example, if your business constantly receives incomplete orders, then you should look for a system that compares physical counts with system records. Or, if your warehouse needs periodic manual counts more frequently than usual, then you should pick a system that categorizes items for better organization and employs RFID tags for automated tracking.

Overall, an effective inventory management system:  

  • Alerts when stock reaches a reorder point.
  • Archives historical data for trend analysis.
  • Avoids stockouts with predictive analytics.
  • Identifies fast-moving items.
  • Syncs with supply chain data and integrates with sales data..
  • Updates in real-time with each sale.
  • Utilizes cloud-based systems for remote access.

Even though you could achieve some of these benefits through manual processes, an inventory management system saves you the hassle and the resources you need to do it.

Focus on forecasting

Predicting demand is key to managing inventory effectively. Ensure your inventory management workflow:

  • Uses historical data and market trends to forecast sales.
  • Adjusts based on seasonal demands.
  • Supports ABC analysis (categorization based on product importance).

This lets you adjust your stock levels accordingly to prevent overstock or stockouts.

Sell goods chronologically

Your inventory management system should support different inventory management methods, such as: 

  • FIFO (first in, first out) method.
  • LIFO (last in, first out) method.
  • JIT (just-in-time) inventory method. 

An efficient software system also maintains a minimum stock level and prioritizes items based on turnover rate to ensure efficient warehousing and sales practices.

This minimizes the risk of perishable goods expiring and the likelihood of holding obsolete items.

Consider the demand for goods

Understanding your customers’ preferences helps you stock items that are likely to sell. You need to regularly analyze sales data to identify fast-moving products and adjust your inventory accordingly.

An inventory management system that integrates with POS systems for real-time updates enhances the communication between different points of your supply chain. 

For example, a POS system streamlines the ordering process and supports your operations in more than one way by capturing information about demand. It also keeps every item in place for when your customers need it.

Perform inventory counts

Regular physical counts help reconcile your recorded stock with the actual items on hand. This practice catches discrepancies early, which prevents inaccuracies that lead to financial losses.

Inventory tracking relies on accurate data entry, so developing a system that incorporates both digital and physical tracking methods — such as the use of an RFID scanner — ensures full visibility over your inventory. This minimizes losses through efficient tracking.

Any warehouse’s operation demands frequent checks and balances, which means it involves regular audits. 

An inventory tracking system that reviews discrepancies immediately ensures no product goes unaccounted for. Picking a system that uses barcodes for easier management reduces the frequency of inventory counts and increase data accuracy.

Audit your inventory for better inventory management

Conduct regular audits to assess the accuracy of your inventory records. This proactive approach helps identify potential issues and ensures that your stock levels align with your recorded data.

Choosing an inventory tracking method

Manual vs. automated tracking systems

Decide whether a manual or automated tracking system suits your business best. Manual systems may work for smaller operations, but as your business grows, investing in automated solutions saves time and reduces errors.

Evaluating effective software solutions for your business

Explore inventory tracking software options tailored to small businesses. Consider factors like: 

  • Ease of use.
  • Scalability.
  • Integration with other business tools. 

Choose a solution that aligns with your specific needs and budget.

Simplify your manufacturing workflows with Method

When you’re learning how to keep track of inventory, you need all the help you can get. Method CRM is the #1 lead-to-cash automation tool for QuickBooks and Xero users.

While you focus on tracking and managing your inventory, Method takes care of generating leads and sales. Now, you can delegate any process that has to do with your customers to your software system, such as:

  • Collecting payments.
  • Sending out estimates and invoices.
  • Following up with clients.

Frequently asked questions

Is inventory management software expensive?

The cost of inventory management software varies, but many affordable options cater to small businesses. Consider the long-term benefits and potential time savings when evaluating this investment.

What is an inventory tracking list?

An inventory tracking list is a detailed record of your stock, including: 

  • Item names.
  • Quantities.
  • Locations. 

It serves as a quick reference for your team and aids in the efficient retrieval of items.

What is ABC inventory analysis?

ABC inventory analysis categorizes items based on their importance and value. Classifying items as A, B, or C helps you prioritize attention and resources where they are most needed. This practice also optimizes warehouse space based on movement.

How can I keep track of my inventory for free?

Several inventory management tools are available for small businesses, and while the best ones aren’t free, some offer a free trial. For example, QuickBooks Online provides a 30-day trial, so you can test it before committing.

Otherwise, you’ll have to resort to spreadsheets, which runs you the risk of making costly mistakes.

Put a Method to your madness. See how.

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How much does QuickBooks cost per year? QuickBooks pricing guide

Pricing Guides, QuickBooks / By

No discussion of top accounting software is complete without mentioning QuickBooks. So how much does QuickBooks cost per year? Find out here!

How much does QuickBooks cost per year? QuickBooks pricing guide Read More »

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.

Get the most out of QuickBooks with Method

Method is the #1 lead-to-cash automation tool for QuickBooks and Xero users. 

Thanks to its two-way, real-time sync with QuickBooks, Method ensures a smooth and hassle-free process with zero double data entry. Plus, the platform offers customization options to adapt QuickBooks to your unique needs.

What’s more is that Method’s mobile app is perfect for businesses on the move. This means you can access your QuickBooks data without being tied to the office.

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How much does CRM cost – CRM pricing comparison guide

CRM / By

How much does CRM cost? Keep reading to find out how different CRMs are priced and how to pick the right option for your budget.

How much does CRM cost – CRM pricing comparison guide Read More »

Ever wondered, ‘How much does CRM cost?’ You’re not alone. In the quest to enhance customer relationships and boost sales efficiency, businesses of all sizes turn to Customer Relationship Management (CRM) systems. 

But with varying features, features and functionalities, the cost of CRM solutions is diverse. This guide breaks down different CRM pricing, revealing the factors that influence cost. Whether you’re a small business or a multinational corporation, understanding CRM costs is crucial for making an investment that aligns with your goals and budget.

What is a CRM?

Before answering the question “How much does CRM cost?” it’s important to define what a CRM is. A CRM (customer relationship management) system is a tool that helps you manage, analyze, and improve your interactions with: 

  • Leads. 
  • New customers. 
  • Loyal clients. 

By consolidating customer information and documenting interactions, a CRM system simplifies sales, marketing, and customer service efforts to make it an essential component for modern business operations.

How much does CRM cost?

A common question among business owners is “How much does CRM cost?” The answer is it depends. CRM costs vary significantly based on several factors, including:

  • Features.
  • Functionality.
  • Deployment.

From subscription models to licensing models, the pricing of CRM solutions is diverse. It caters to a wide range of budgets and business sizes. One-time vs. recurring fees also play a crucial role in determining your overall cost.

Why use a CRM?

Using a CRM saves companies money in the long run by helping you: 

  • Enhance customer relationships.
  • Improve sales efficiency.
  • Provide valuable insights through analytics and dashboards. 

It’s a strategic investment that helps you better understand and serve your customers. Despite the upfront costs, CRMs offer a clear return on investment (ROI) over time.

CRM pricing plans for different needs

Team size and usage volume

A CRM provider often calculates costs based on active users. Plans range from basic options for small teams of people to comprehensive enterprise solutions for larger organizations. Bigger companies typically require a higher number of features and a large number of contacts. 

Note that some providers choose a pricing model that affords small businesses a discounted rate, so keep an eye out for deals like that.

Basic functionality vs. advanced features

CRM systems offer a range of features, from basic contact management to advanced AI and analytics. A CRM provider typically increases its cost with added functionalities and values its premium features at a higher rate. For example, a typical CRM provider includes certain features in the base price and excludes advanced analytics from the basic plan. 

Some companies provide personalized quotes that factor in everything from customization costs to mobile access charges. A quote also assesses additional fees for premium support. This way, the CRM company effectively negotiates pricing for large enterprises to account for the money it spends on R&D to enhance features and more. After all, covering overhead costs is the only way to stay profitable.

Wide range of plans with varying price points

CRM solutions like Salesforce, HubSpot, Freshsales, SugarCRM, and Microsoft Dynamics offer a variety of plans, each with different price points and features, to ensure there’s an option for every business need. They generally follow a subscription plan model, which either costs a specific amount monthly or charges annually based on features.

It’s also common that a CRM includes custom plans for on-premise vs. cloud-based pricing. Finally, you may come across a company that quotes different prices for different regions. Make sure to look into every factor when making your decision.

Hidden costs and additional fees to watch out for

It’s common for companies to make a budget for their CRM expenses that excludes additional fees. However, it’s important to be aware of all the hidden costs, such as:

  • Storage costs.
  • Customization costs.
  • Data migration fees. 

Before choosing a CRM, you may want to check whether it requires additional fees for extra integrations, as these significantly impact your overall budget.

Some CRMs also offer a free trial, but watch out for the end of the trial date, as you may incur an unexpected charge. Not to mention, there may be cancellation fees if you try a software and decide not to continue using it.

Lastly, you may come across a CRM that updates its pricing model periodically or evaluates its pricing annually. If the charges are unreasonable, then it’s worth informing the company, as it’s common that a provider sets its price based on customer feedback. Make sure you look at the most up-to-date pricing information when making your decision.

Software costs vs. other expenses associated with using a CRM

So, how much does CRM cost when factoring in additional expenses? Apart from the software cost, you should also consider:

  • Training and support fees.
  • Setup and implementation costs.
  • Ongoing maintenance expenses.

Average cost of a CRM plan per user per month

The average cost of a CRM plan per user per month ranges based on the complexity and scope of the solution.

Basic plans start as low as $10 per user (or even free), while some systems with extensive features exceed $100 per user. It’s important to consider both the immediate and long-term financial implications of the plan you choose to ensure it aligns with your budget and business growth plans.

What other costs will you pay when implementing a CRM?

CRM training

Ensure that your company allocates funds for training and onboarding so your team can effectively use the CRM. This cost varies depending on the size of the company and complexity of the system.

Overall, quality training reduces the risk of implementation failure and enhances efficiency. So, it’s essential to maximize the return on your CRM investment.

CRM data migration

You incur data migration fees when transferring existing customer data into a new CRM software. This process can be complex depending on the volume and format of the existing data. So, make sure you account for this expense when asking how much does CRM cost for your business. 

Consider the costs for technical expertise and the tools you’ll need to ensure a smooth and secure transfer of sensitive customer information.

CRM configuration and set-up costs

Initial setup and configuration costs are significant, especially for complex systems that need extensive customization. These costs cover the initial implementation, including:

  • System configuration to match your business processes.
  • User setup and permissions.
  • Integrating your CRM with your existing infrastructure.

CRM add-ons

Add-on modules enhance the functionality of your CRM, but come at an additional cost. Some examples include:

  • Advanced analytics.
  • Marketing automation tools.
  • Enhanced customer service features. 

Carefully assess which add-ons you need to avoid unnecessary expenses.

CRM customizations

Customization costs are associated with tailoring your CRM to meet specific business needs. This might involve:

  • Developing unique features.
  • Modifying existing functionalities.
  • Designing and automating workflows.

As always, remember that customizations increase your CRM’s effectiveness, but also add to your overall cost.

CRM integrations

If your company invests in other tools to supplement your system, third-party app integration charges may apply. So, when connecting the CRM with other software products or systems within your business, make sure you stay within your budget.

These integrations are essential for creating a cohesive technological ecosystem, but they often involve additional costs for:

  • Development.
  • Testing.
  • Maintenance.

What factors impact CRM costs

The cost of a CRM system often varies depending on the types of features required and the compatibility with existing software. 

Existing software and required CRM features

If your current systems require extensive modification to work with the new CRM, or if you need advanced features like AI-based analytics, the price will be higher. 

It’s crucial to conduct a thorough analysis of your current technology stack and identify the must-have features to ensure you choose a CRM that aligns with both your technical requirements and budget.

Number of users

User-based pricing means the prices vary based on user count and the cost increases with the number of users accessing the system. This pricing model is common in CRM solutions, making it crucial to accurately assess how many of your team members will need access to the system.

Consider your current staff size and potential future growth, as expanding your user base later can increase costs.

CRM integrations and customizations

Integrations and customizations can significantly increase the overall cost of a CRM solution. The more you need your CRM to integrate with other tools (like email marketing software or customer support platforms), the higher the cost may be. 

Similarly, customizations that tailor the CRM to your unique requirements can add to the expense. It’s important to weigh the benefits of these customizations and integrations against their cost to ensure they contribute to a tangible ROI.

How to choose the right CRM

Define your CRM requirements

Understanding your business needs and customer management requirements is the first step in selecting the right CRM. For example, is your focus on generating leads? Or do you need a powerful mobile app for access on the go? It’s important to drill down your exact requirements so that you get the best value for your money.

Consider things like:

  • Your team’s size.
  • The scale of your customer base.
  • The complexity of your sales processes.

Considering these factors is the first step in figuring out how much does CRM cost. 

Make a list of essential features you will need

Next, identify and make lists of the tools and functions that your business requires, such as contact management, automation, analytics and reliable customer support.

Don’t forget to factor in scalability, integration capabilities with existing systems, and the ease of adding new features or modules in the future. This step ensures that the CRM can grow and adapt with your business.

Consider hidden costs

Ever wondered how much does CRM cost when you take hidden costs into account? Make sure to think about potential costs like integration fees and customization costs when choosing a CRM.

Other areas include additional licenses, data migration, and any other unforeseen expenses that could arise. Being aware of these costs upfront can help prevent budget overruns.

Factor in support and maintenance costs

It’s essential that your CRM budgets for regular updates and support. These maintenance costs are vital for the long-term success of your CRM deployment. Ensure that the vendor offers comprehensive support and maintenance plans that cover:

  • Software updates.
  • Technical support.
  • Security enhancements.

Try demos and free trials

Some CRM providers offer a risk-free way to evaluate a CRM’s usability and functionality. This lets you:

  • Test the software in real-world scenarios.
  • Understand how it integrates with your existing workflows.
  • Identify any potential issues or limitations before making a purchase decision.

Prioritize user experience

A CRM with an intuitive user interface ensures higher adoption rates and user satisfaction. So look for one that offers a user-friendly design, easy navigation, and customizable dashboards. A positive user experience also ensures you don’t need to invest in extensive training.

CRM pricing comparison guide

This section of the blog compares and evaluates the top CRM options. Here you’ll be able to answer the question “how much does CRM cost” when it comes to specific software.   

Method CRM pricing

Method CRM offers three subscription plans:

  • Contact Management: $25 per user per month.
  • CRM Pro: $44 per user per month.
  • CRM Enterprise: $74 per user per month.

Each plan offers varying functionalities and capabilities, depending on the stage your business is in and its unique needs. Method also offers a free trial with no credit card required. 

Salesforce pricing

Image credit: Salesforce

Salesforce determines its price based on market demand, which reflects their position as a high-value provider. 

It’s available in three different plans:

  • Essentials: $25 per user per month. 
  • Professional: $80 per user per month.
  • Lightning Enterprise: $165 per user per month.

Pipedrive pricing

Pipedrive screenshot

Image credit: Pipedrive

Pipedrive offers a range of pricing plans that all emphasize sales-focused features, but have varying levels of functionality. Pipedrive has five pricing plans available:

  • Essential: $14.90 per user per month.
  • Advanced: $24.90 per user per month.
  • Professional: $49.90 per user per month.
  • Power: $64.00 per user per month.

Enterprise: $99.00 per user per month.

Nutshell pricing

Image credit: Nutshell

Nutshell also compares favorably with other CRM solutions and lists its pricing transparently on its website. Its pricing structure caters to businesses seeking advanced features, with each plan designed to meet diverse business needs and scalability requirements.

Here are its pricing plans:

  • Foundation: $19 per user per month.
  • Pro: $49 per user per month.
  • Power AI: $59 per user per month.
  • Enterprise: $79 per user per month.

HubSpot CRM pricing

HubSpot product shot

Image credit: HubSpot

HubSpot determines your cost based on individual bundles or “hubs” you purchase. This depends on how many business tools you need. Remember to ask, “How much does CRM cost, including the add-on modules cost?” before you invest, as the final cost quickly adds up.

HubSpot’s Starter plan begins at $20 per month, but its Professional plan jumps to $1600 per month. If you’re looking for an Enterprise plan, costs start at $5,000 a month.

Individual hubs include:

  • CRM.
  • Sales.
  • Marketing.

Note that HubSpot CRM is recognized for its versatility and discounts its services for non-profits. This discount lets non-profits leverage advanced CRM tools for better stakeholder engagement and operational efficiency, which is often challenging with limited budgets.

Wrap-up

In conclusion, navigating CRM pricing can be daunting, but understanding the nuances is key to making an informed decision. While options like Salesforce, Pipedrive, Nutshell, and HubSpot cater to various needs and budgets, Method stands out as a compelling choice. Its flexible subscription plans, ranging from essential contact management to comprehensive enterprise solutions, are designed to grow with your business. Coupled with its user-friendly interface and customizable features, Method offers a perfect blend of functionality and affordability. 

Frequently Asked Questions

How much should I budget for CRM?

CRM pricing ranges from basic to enterprise pricing and varies widely depending on other factors. So, there is not one answer to, “How much does CRM cost?” 

You want your budgeting estimates to be within a certain range that assesses: 

  • Software costs.
  • Additional fees.
  • Ongoing expenses like support and updates. 

Also, look for potential CRM deals or discounts. It’s not unusual that a company decreases its price during promotional periods, so you’ll want to watch out for that as well.

Is CRM free to use?

You may come across a CRM provider that offers free web versions with limited features, which is suitable for small businesses or those just starting with CRM. You may also come across a company that offers discounts for longer commitments. 

However, note that with CRM software, you get what you pay for. The best solutions come with a cost, but save you time and money in the long run.

How much do companies spend on CRM?

How much a company allocates to CRM depends on various factors. When asking, “How much does CRM cost a company?” it’s important to consider aspects like:

  • Company size.
  • Needs.
  • Values. 
  • The solution’s complexity.

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Does Google have a free CRM? Best CRMs for Google users

CRM / By

Does Google have a free CRM? In this blog, find out and learn about the best CRMs for small businesses in the market.

Does Google have a free CRM? Best CRMs for Google users Read More »

As a small business, you know the importance of every dollar. You’re likely using free Google Workspace tools like Gmail and Google Sheets to kickstart your business without breaking the bank. 

But as your business expands, you must nurture customer relationships for loyalty and growth. Since you’re already familiar with Google Workspace, you may wonder: Does Google have a free CRM? 

In this blog, you’ll find out if Google provides a free CRM and look at the best CRMs for Google users. 

Let’s get started! 

What is a CRM?

CRM, or customer relationship management, is a software system that helps you: 

  • Track customer interactions. 
  • Create invoices, quotes, and mailing lists. 
  • Manage sales, marketing, and customer service. 

CRM software is all about nurturing customer relationships using the data you have at your fingertips. 

Does Google have a free CRM?

Now that we’re up to speed about CRMs, let’s answer: “Does Google have a free CRM?”

The answer is no — Google is not a company that develops its own CRM software. However, a number of small businesses use Google Workspace tools like Gmail, Contacts, and Calendar as a basic CRM. But managing customer relationships this way is not sustainable, especially for a growing business.

Fortunately, there are many third-party CRMs that offer Google Workspace (formerly G Suite) compatibility, and some providers even offer free vs. paid versions. These CRMs enhance Google’s tools to give you the best of both worlds.

Best CRMs for Google users

Now that we know the answer to, “Does Google have a free CRM?” let’s check out the best CRMs for Google users. 

Method CRM — #1 CRM for QuickBooks and Xero users

Through its powerful, two-way sync, Method introduces a new CRM platform for users of QuickBooks or Xero. It automates tasks within its CRM and lets you tailor it to your needs with customizable dashboards. 

Method also provides strong customer support and the team consistently values user feedback for CRM improvements.

As a cloud-based platform, Method offers third-party app integrations with Google Workspace so you can:

  • Invite contacts and track opportunities from your inbox. 
  • Sync Google Calendar with Method for better planning.
  • Import Google Sheets data directly into the software. 

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HubSpot CRM

Screenshot of HubSpot dashboard.

Image credit: HubSpot

HubSpot CRM offers a comprehensive CRM solution that manages customer relationships through its platform. It integrates seamlessly with other business tools like Google Workspace so you can: 

  • Track emails. 
  • Manage documents. 
  • Synchronize calendars. 
  • Consolidate contacts and leads. 

Plus, HubSpot grants access to CRM analytics, which offer deep insights into your customer interactions.

Pipedrive

Pipedrive screenshot

Image credit: Pipedrive

Pipedrive provides CRM services to businesses of a smaller scale, specifically entrepreneurs and small-to-midsize companies. With a user-friendly interface, Pipedrive promotes the use of its CRM for sales teams in all sorts of industries.

Pipedrive’s integration with Google Workspace: 

  • Categorizes contacts and leads systematically.
  • Schedules reminders and follow-ups for users.
  • Monitors user interactions for better insights.

While Pipedrive is budget-friendly, its scalability for growing businesses is limited.

Zoho CRM

Screenshot of Zoho CRM dashboard.

Image credit: Discover CRM

Zoho features a CRM in its suite of tools called Zoho CRM. It updates its CRM with new features regularly. 

This solution supports businesses with CRM tools that help boost sales and marketing processes. 

Plus, Zoho CRM integrates with Google apps like Gmail, Google Calendar, and Google Drive. This integration: 

  • Tracks customer interactions efficiently. 
  • Organizes customer data in a user-friendly manner. 
  • Stores vast amounts of customer data securely. 

As a bonus, Zoho often discounts its CRM services during promotions and gifts premium CRM features occasionally. This ensures that businesses have the necessary resources to manage all cases and files.

Features of a Google CRM

Now that you’ve answered, “Does Google have a free CRM?” let’s dive into the exciting features you can expect from a Google CRM.  

Native integrations

Top-notch CRMs thrive on seamless native compatibility. This includes integration with the full suite of Google services, such as Google Sheets compatibility.

Additionally, Google CRMs prioritize mobile app integration. This ensures flexibility and accessibility on the go. 

Reporting

Every successful company knows the importance of analytics and reporting. 

Google-integrated CRMs offer features like data import/export and list creation, which enable real-time report generation. These functionalities turn data into actionable insights to drive strategic planning.

Additionally, some CRMs integrate with Google Looker Studio for data visualization.

Email marketing

Emails are the cornerstone of effective customer interaction. 

A top-tier Google CRM includes: 

  • Email templates. 
  • Email tracking. 
  • Marketing automation capabilities. 

Sales automation

Sales automation stands out as a key component of Google CRMs.

This functionality empowers businesses to:

  • Monitor the sales pipeline. 
  • Eliminate menial tasks.
  • Facilitate calendar syncing. 
  • Manage product tracking. 

Sales automation ensures that your sales force stays on top of every opportunity to drive deals. It gives your team more time and resources to spend on value-adding activities.

Pipeline management

Pipeline management is key in a CRM. This involves several operational pipelines, such as: 

  • Sales. 
  • Customer service. 
  • Marketing. 
  • Project management. 

Pipeline management optimizes efficiency and ensures that no opportunity slips through the cracks.

Contact management

Google CRMs offer a more advanced approach to managing contacts like leads and clients than standard tools. These systems consolidate contact information to provide a detailed view of each customer.

Interaction management

For meaningful customer engagement, interaction management is essential. 

Most CRMs help this with features that track all communications between sales reps and customers. 

Also, by improving task management, a good CRM ensures that you personalize every interaction. 

Employee management

An ideal CRM enhances employee management with key features, like:

  • Task, meeting, and goal tracking: Enables team members to keep track of their responsibilities and objectives.
  • Collaboration tools: Facilitates participation through integrated tools for comments, notes, and collaboration.
  • Task management and scheduling: Lets project leads schedule team members and assign them to tasks for optimal efficiency.

For managers, a Google CRM provides a complete overview of team performance and milestones.

Lead management

When it comes to lead generation, a top-tier CRM: 

  • Helps you identify prospects. 
  • Manages contacts and customers. 
  • Nurtures leads with detailed information. 

Beyond Gmail, effective Google CRMs capture leads from websites and social media platforms like LinkedIn. 

Security

Security and privacy features are essential in a CRM, especially when integrated with Google. A quality CRM should enhance Google Drive storage and ensure secure access for team members. For example, look for a CRM with user permissions and access controls.

Benefits of a Google CRM

When exploring the question, “Does Google have a free CRM?” it’s key to understand the benefits of a CRM for Google:  

  • Better organization: Organize all your customer data for accurate, up-to-date records.
  • Improved loyalty and relationships: Deepen customer connections and align your teams for effective engagement. 
  • Insightful analytics: Leverage Google analytics for actionable, data-driven insights. 
  • Task automation: Simplify your workflow and boost team morale by automating repetitive tasks.
  • Customization: Tailor your CRM to fit your business needs for a personalized solution.
  • Security: Protect confidential information like customer finances and prevent cyberattacks.

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What to consider when choosing a CRM for Google

When choosing a CRM for Google, here are some things to consider: 

  • Integration with Google Workspace: Ensure the CRM offers seamless integration with key tools like Gmail and Calendar. 
  • User experience: Choose a CRM with an intuitive interface that feels like an extension of familiar Google tools. 
  • Scalability: Select a CRM that evolves with your business and adapts to new tasks. 
  • Sales automation and reporting: Opt for a CRM with strong sales automation and reporting capabilities to leverage Google data effectively.
  • Support: Look into the support options available, such as help desks, Intercom, or Help Scout. Quality customer service can mean the difference between successful adoption and abandonment.
  • Pricing: Balance features with affordability to provide value without straining your budget.

In assessing cost-effectiveness, sometimes a CRM: 

  • Costs nothing for its basic CRM version.
  • Prices its advanced CRM features competitively.
  • Waives fees for startups using its CRM.

Additionally, reading reviews from other users offers invaluable insights. They provide real-world examples of how the CRM performs in various places. 

So, while the answer to “Does Google have a free CRM?” is no, that doesn’t mean you’re without options. What’s next is to determine which CRM features align best with your business needs.

Frequently asked questions (FAQs)

Does Gmail offer a CRM?

Gmail does not offer a CRM system, but it’s designed to work seamlessly with various third-party applications. This integration is key as it launches CRM functionalities for its users.

If you’re wondering, “Does Google have a free CRM through any of its other apps?” the answer is unfortunately not.

What CRM connects to Gmail?

A variety of CRM platforms integrate with Gmail. In this blog, you’ve looked at:

  • Method CRM.
  • HubSpot CRM.
  • Pipedrive.
  • Zoho CRM.

Other CRM solutions that connect to Gmail include: 

  • Agile CRM.
  • Bitrix24.
  • EspoCRM.
  • Freshworks.
  • OroCRM.
  • SugarCRM.
  • vTiger CRM.
  • Zurmo.

How do I use Google Mail as a CRM?

To transform Google Mail into a CRM, you can take advantage of add-on tools like Method:Sidebar or Streak. 

These tools integrate CRM functions like sales and project management directly into your Gmail interface. This means you can manage customer relationships without having to leave your inbox.

How do I create a simple CRM in Google Sheets?

While it’s not recommended, you can create a simple, makeshift CRM by setting up a spreadsheet with columns for: 

  • Contact details.
  • Interaction logs.
  • Sales pipeline stages. 

Then, you can use the platform’s various functions and formulas to manage your data. 

Can we use Google Workspace applications as a CRM?

Although you’ve addressed, “Does Google have a free CRM?” it’s worth noting that a lot of people still use Google Workspace as a CRM. 

For example, you can combine Google Contacts, Calendars, Sheets, and Gmail to: 

  • Manage contacts.
  • Schedule follow-ups.
  • Track interactions.
  • Store customer information.

For enhanced CRM capabilities, consider integrating a third-party CRM system with Google.

Optimize your Google Workspace with a robust CRM. Start your free trial of Method. 

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Can QuickBooks replace an accountant? All you need to know

QuickBooks / By

Can QuickBooks replace an accountant? Is an accountant a must for financial operations? Find out in this blog.

Can QuickBooks replace an accountant? All you need to know Read More »

Keeping your finances in order is crucial for any business, but figuring out how to do it takes work. Relying entirely on an accountant might make your life easier, but it will also be tough on your budget. 

Alternatively, an accounting system like QuickBooks can support your financial operations for a fraction of the price, but to what extent can QuickBooks replace an accountant?

In this blog, you’ll explore when you need an accountant and when you can let your accounting software take over. The right software system can render you the services you need and might even be the better option, as it:

  • Provides features that rival professional accounting services.
  • Streamlines financial processes without human intervention.
  • Can be a cost-effective alternative to hiring an accountant.
  • Offers a comprehensive solution for small business financial management.
  • Can handle financial data and analysis like an expert.

So… can QuickBooks replace an accountant entirely? Let’s find out!

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What is QuickBooks?

QuickBooks is a popular accounting software that many businesses use to manage their finances. With QuickBooks, you can keep track of income, expenses, invoices, and more — all in one place.

It has the capability to perform accounting tasks such as:

  •  Payroll management.
  •  Regulatory compliance.
  •  Data accuracy and validation.
  •  Cash flow analysis.
  •  Maintaining audit trails.

That said, can QuickBooks replace an accountant with these tools?

Can QuickBooks replace an accountant?

The short answer to “Can QuickBooks replace an accountant?” is it depends. 

QuickBooks is a game-changer for some businesses, but it’s not a one-size-fits-all solution. For example, you can’t use QuickBooks as a substitute for a certified accountant (CPA), especially for complex financial matters and tax planning.

Let’s take a closer look at when you can use QuickBooks to supplant an accountant.

When can QuickBooks be a suitable alternative to hiring an accountant?

Software can compete with the services an accountant offers, but can QuickBooks replace an accountant fully? It gets close in these two cases:

Small businesses with simple financial operations

QuickBooks might be all you need if your business has straightforward financial operations. For example, if you have a small construction firm with few expenses and clients, QuickBooks can handle your:

  • Invoicing.
  • Expense tracking.
  • Financial reporting. 
  • Basic inventory management.

In this case, your accounting system lets you manage finances without a dedicated accountant. It also might reduce errors commonly made in manual accounting. Because it integrates advanced features that challenge traditional accounting roles, your business stays more productive and accurate. As a plus, this means the software may reduce the need for manual accounting oversight. 

In other words, QuickBooks offers tools that mimic traditional accounting processes so you can focus your attention on bringing in clients and growing your business. 

Its cloud-based accessibility also makes it a convenient option, since you can access it from anywhere with an internet connection.

Cost savings for small business owners

If you’re trying to grow your company, you know making smart investments and saving costs where you can boost your revenue. 

One of the most significant advantages of using QuickBooks is the cost savings. Hiring an accountant or bookkeeper is expensive. In contrast, bookkeeping software is designed to be cost-effective, especially for growing businesses.

Despite being cheaper, QuickBooks simplifies complex accounting tasks with automation and offers insights and reports similar to those generated by accountants. It can support you in setting up your financial operations for success.

Accounting software systems outperform accountants in some ways, but a professional’s expertise is hard to surpass. So, even if you don’t need an accountant for your daily operations, consulting with one on some issues helps you avoid mistakes and keep your information in order. After all, there’s no way to eclipse human expertise and consultation needs.

Advantages of QuickBooks for businesses

Now that you know when QuickBooks can assume your accounting responsibilities, let’s explore how.

Automation of financial processes

Some accounting systems offset the need to hire someone to manage your finances because they can automate many tasks typically done by an accountant. 

QuickBooks allows businesses to manage finances without a dedicated accountant, as some of its features emulate an in-house professional’s responsibilities. The software offers:

  • Budgeting and forecasting tools.
  • Accounts payable and receivable functionality.
  • Customizable financial statements.
  • Invoicing capabilities.
  • Tax preparation features.
  • Financial analysis tools.
  • Bank account integration.

QuickBooks can also categorize expenses, reconcile bank transactions, and even remind you when bills are due. 

Financial software automation lets you replicate the benefits of having accounting employees, which frees you up to focus on growing your business.

It also comes with other benefits, such as a recurrent security and data backup to avoid information loss and reduce duplicate documents.

Improved transparency and visibility in financials

QuickBooks gives you a clear view of everything you need to track, including your:

  • Sales numbers.
  • Purchase orders.
  • Taxes.
  • Vendor payments. 

It generates reports that show you where your money is coming from and where it’s going so that you succeed in controlling your finances. This transparency helps you make informed decisions to improve your bottom line.

Streamlined data entry and accounting tasks

Manual data entry and paperwork cause mistakes in your accounting. QuickBooks simplifies these tasks to make it easier to keep accurate records. You can also connect your bank accounts and credit cards for real-time data import. 

This way, you’ll overtake the companies in your field in providing positive experiences and become the top choice for prospective customers.

Access to professional tax advice and support

QuickBooks has dedicated individuals to advise you on managing your taxes. Their tax consultants displace the need to hire people as full-time accountants, since they consistently outdo themselves to bring value to your company.

While QuickBooks can’t replace a certified tax professional, its consultation services can. They help you organize your financial data for tax season, which makes it easier for you to submit accurate reports on time and match the quality of those submitted by accountants.

Ability to customize your financial reports

Every business has unique financial needs. QuickBooks lets you customize your financial statements to fit your specific requirements. The accounting software has you covered, whether you need:

  • Detailed profit and loss statements.
  • A visual cashflow chart.
  • An overview of how each article is performing.

Increased efficiency in invoicing, billing, and payment processing

Invoicing can be a time-consuming task for small business owners. Luckily, QuickBooks makes it a breeze by automating the process. You can create professional invoices and set up recurring billing for your regular clients. It also offers multi-currency support so that you can grow your business internationally with the same ease.

Easier inventory tracking and management

If you deal with inventory, you can use QuickBooks’ tools to track and manage your stock. To avoid inventory shrinkage, you can: 

  • Monitor stock levels.
  • Set reorder points.
  • Generate reports.

Comprehensive real-time reports

QuickBooks provides you with real-time insights into your business’ financial health. You can access reports on: 

  • Cash flow.
  • Profit and loss.
  • Balance sheets — and more. 

This data empowers you to maximize your resources.

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Finding the right balance: Using QuickBooks in conjunction with an accountant

So, can QuickBooks replace an accountant? In some cases, it can. We’ve talked about the advantages of QuickBooks and how it’s a valuable tool for small businesses. But it’s not an all-or-nothing decision. 

QuickBooks bridges the gap between software and professional services, so if there’s something you can’t do through QuickBooks, your accountant can help, and vice versa. Here are some tips to find the perfect balance.

Collaborate effectively

Work closely with your accountant to ensure that they have access to your QuickBooks data. This collaboration lets them provide timely advice and insights.

Regular check-ins

Schedule regular check-ins with your accountant. Discuss your business’: 

  • Financial health.
  • Goals.
  • Upcoming challenges. 

These meetings help you stay on track and make informed decisions.

Tax season support

When tax season begins, your accountant can use your QuickBooks data to prepare accurate tax returns. This collaborative effort ensures you take advantage of all available deductions and credits while complying with tax regulations.

Strategic planning

Your accountant can help you create a long-term financial strategy. They can: 

  • Analyze your financial reports.
  • Identify trends.
  • Recommend ways to improve profitability and cash flow.

So, can QuickBooks replace an accountant? It can boost your financial operations and eliminate the need for a full-time accountant. However, it’s best to use a professional’s expertise along with QuickBooks.

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Method CRM simplifies your entire sales process, from capturing leads to closing deals and getting paid. With Method, you can register leads and customers separately, and track each transaction to keep your records in order.

So, the question isn’t “Can QuickBooks replace an accountant?” Instead, it’s, “How can I use QuickBooks to its fullest?” The software can automate many more processes than accounting when you integrate it with third-party applications, such as Method. 

So, using QuickBooks might not fully eliminate your need for an accountant, but it can support your operations and boost your revenue in many other ways.

Frequently asked questions

Do accountants use Excel or QuickBooks?

Accountants use various tools, and it often depends on the specific needs of their clients. While some accountants might use Excel for particular tasks, many opt for QuickBooks because of its efficiency and comprehensive features. 

As a designated accounting software, QuickBooks is the more robust option. It:

  • Simplifies financial management.
  • Reduces the risk of errors.
  • Helps with more things than bookkeeping.

Do CPA firms use QuickBooks?

Many CPA (certified public accountant) firms use QuickBooks for their clients. It helps accountants manage financial data effectively and handle several clients’ information at a time. CPA firms also use QuickBooks to generate insights and collaborate with clients.

Is QuickBooks as good as an accountant?

QuickBooks is a powerful tool, but it’s not a replacement for a qualified accountant. It’s essential to understand that QuickBooks can:

  • Handle many routine financial tasks.
  • Automate processes.
  • Provide real-time insights. 

However, an accountant brings: 

  • Special expertise.
  • Strategic financial planning.
  • A deep understanding of tax laws. 

It’s often best to use QuickBooks with an accountant for optimal results.

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Can QuickBooks handle multiple companies?

QuickBooks / By

This software simplifies operations and manages finances, but can QuickBooks handle multiple companies? Click here to find out!

Can QuickBooks handle multiple companies? Read More »

No matter who you are, managing multiple companies is daunting and difficult. But the key to success lies in finding the right tools to:

  • Simplify your operations.
  • Stay organized.
  • Keep your financials in check. 

This brings us to a crucial question: “Can QuickBooks handle multiple companies?” 

In this article, you’ll discover how QuickBooks rises to this challenge. Whether you’re juggling different currencies or locations — or just trying to keep multiple business entities organized — find out how to make QuickBooks your best business ally.

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What is QuickBooks?

QuickBooks is a leading accounting software developed by Intuit designed to manage financial processes for small businesses and larger enterprises alike. 

It provides an intuitive interface through both an online browser and desktop version, so you can handle business activities whether you’re in the office or on the go. QuickBooks gives you the tools to easily: 

  • Track transactions.
  • Organize accounts.
  • Administer business activities. 

For businesses operating in more than one country or dealing with multiple currencies, QuickBooks Online offers comprehensive support. 

It also offers features for multi-company accounting and lets you tailor your accounting to the specific location of each business you operate.

Get started with your free trial of QuickBooks Online here. 

Can QuickBooks handle multiple companies?

A common question among users is, “Can QuickBooks handle multiple companies?” The answer is yes — with QuickBooks, it’s easy as it supports multi-company operations. 

However, although QuickBooks can be set up for various company profiles, each company file creation requires a separate QuickBooks Online subscription. 

Despite the cost, this setup is ideal for business owners operating several entities, as QuickBooks:

  • Offers vendor and customer lists segregation.
  • Facilitates the tracking of transactions across different businesses.
  • Allows for multiple business integrations.
  • Offers multi-currency support per company.
  • Supports multi-company data backup and restoration. 
  • Provides insights of software performance with multiple company files through advanced reporting. 
  • Streamlines operations for multiple businesses.

How to set up multiple companies in QuickBooks Online

Now you know that the answer to, “Can QuickBooks handle multiple companies?” is yes, but how do you set them all up? Copy the steps below for the perfect solution to coordinate multiple operations.  

Step 1: From your computer, go to the QuickBooks Online website. In your browser window, click on the “Sign Up” option to start the process of creating a new account. 

Step 2: Choose the version of QuickBooks Online that best fits the needs of your new company: Simple Start, Essentials, Plus, or Advanced. Pick the one that aligns with your business requirements and budget.

Step 3: The “Start interview” process guides you through entering crucial details such as your business name, industry, and company structure. Fill in these details accurately, as this step simplifies the process of multi-company bookkeeping and financial reporting.

Step 4: Once you’ve created your account, navigate to the “Settings” drop-down menu. Here, you can enter or edit your company information, such as your business address, tax details, and fiscal year.

Step 5: Configure your account settings to suit your business operations. This includes:

  • Setting up your chart of accounts.
  • Defining products and services.
  • Customizing invoices and other financial documents.

Step 6: If you need to give access to other team members or your accountant, go to the “Manage Users” section in your settings. Here, you can invite users and assign specific roles and permissions based on your team members’ responsibilities.

Step 7: For simplified financial tracking and separate financial reporting, connect your company’s bank accounts. This enables automatic imports for your transactions to save time and improve accuracy.

If you need to set up more companies, repeat the above steps for each new entity. Remember that you need a separate subscription for each one.

Once your companies are set up, QuickBooks makes it easier to switch between company profiles than having to sign out. Click on your company name at the top right of the screen, and a list of your companies will appear. Then, you can simply select the one you want to work on.

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Benefits of using QuickBooks for multiple businesses

Centralized management

QuickBooks Online centralizes financial data from various businesses for easier oversight, as it offers a dashboard view for multiple companies. It lets you see all your businesses through a single platform for a holistic view of your financial health. Overall, it integrates data from different company accounts and has the capacity to accommodate multiple business structures to simplify your operations — no matter how many. 

Consistency in accounting

A significant problem business owners face is dealing with financial errors. QuickBooks helps you minimize errors and ensures consistent accounting practices across several entities. This is because it lets you apply uniform accounting standards across all your businesses. This is crucial for accurate comparison and analysis of business performance. 

Efficient data import/export

QuickBooks simplifies operations by facilitating efficient data import and export, including cross-company data transfer. This means you can transfer data between different company accounts, as well as external systems. This is a huge benefit when you’re consolidating reports or sharing data with external stakeholders.

Integrated features like payroll and invoicing

If you’re wondering, “How can QuickBooks handle multiple companies when it comes to payroll and invoicing?” With QuickBooks, you enjoy powerful functionality for these processes with integrated features such as customizable invoice templates per company and separate payrolls.

Customization for each company

Customize every aspect of your QuickBooks experience, including budgeting and forecasting for each entity.

Every business is unique, and QuickBooks lets you personalize every aspect of your QuickBooks experience. This way, you cater to the specific needs of each company, whether it’s:

  • Custom invoicing.
  • Budgeting and forecasting.
  • Specialized reporting.
  • Dashboards and unique chart of accounts setups.

Individual access control and permissions

With QuickBooks, you can govern user access control per company to grant specific permissions to different accountants or users. This lets you regulate and supervise who accesses specific information, which is vital for maintaining data security for each company.

Extend the power of QuickBooks with Method

When you pair QuickBooks with Method CRM, supercharges your business management capabilities — especially if you handle multiple companies. Here’s how:

  • Seamless integration: Effortlessly sync with QuickBooks to ensure real-time data consistency.
  • Enhanced customer relationship management: Coordinate and organize client interactions to improve customer service and retention.
  • Multi-tenancy support: Manage multiple QuickBooks accounts to simplify supervision and control across different entities.
  • Customizable workflows: Tailor business processes to fit your specific company needs.
  • Centralized data access: Get a unified platform to view and analyze data from all companies, which aids strategic decision-making.

Method empowers you with advanced tools for effective multi-company management so you can focus on growing your business, instead of just running it.

Frequently asked questions

How many companies can I have on my QuickBooks account?

A common question among users is “Can QuickBooks handle multiple companies?” The answer is yes. In fact, QuickBooks can accommodate an unlimited number of companies. 

QuickBooks’ dashboard is intuitively designed, making it simple and direct for people running multiple businesses. With its easy-to-navigate tabs and clearly labeled folders, you can organize your company files efficiently.

Simply follow the login process with your user ID and password, and you’ll have access to your company files — each with its individual chart of accounts and financial reporting. However, every company requires its own subscription. 

Which QuickBooks is best for multiple businesses?

For handling multiple businesses, QuickBooks Online is the best choice for customers. It offers more comprehensive options and provides tools for overseeing several companies, such as:

  • Integration with other software per company.
  • Multi-company dashboard with multi-company data analysis and insights.
  • Advanced reporting, including budgeting and forecasting per entity.
  • Inventory tracking per company.
  • Tax preparation for each entity.
  • Bank account linking per company. 
  • Increased user access.

So, can QuickBooks handle multiple companies, really? Yes, it’s the most ideal accounting solution that is capable of managing multiple entities. Each tab on your dashboard provides quick access to different aspects of your business, from income statements to the different ways to manage vendors. You can also access detailed guides on their pricing page.

What is the cheapest way to use QuickBooks?

For cost efficiency, QuickBooks Simple Start is the most inexpensive plan. However, when managing multiple companies, it’s important to note that you need to balance costs with the specific needs of each business. A more advanced plan may be more cost-effective in the long run, depending on the complexities of your businesses.

In this case, you should opt for QuickBooks Online, which offers subscription costs per company and a range of scalable solutions for businesses of all sizes.

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How to process ACH payments in QuickBooks Online

QuickBooks / By

How to process ACH payments in QuickBooks Online? It’s easy. Learn how to handle payments in just a few steps and simplify your finances!

How to process ACH payments in QuickBooks Online Read More »

Simplifying your payment processes is crucial to maintaining your company’s financial health and a stable cash flow. To do this, you need to be able to process as many payment types as possible, including:

  • Debit card payments.
  • Credit card payments.
  • Direct deposit.
  • ACH transactions.

In this blog article, you’ll learn all about how the QuickBooks software processes online ACH payments, from dealing with individual sales receipts and online invoices to setting up recurring payments.

Follow these quick steps to learn how to set up ACH payments in QuickBooks Online and enhance your business’s financial operations.

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What is an ACH (Automated Clearing House) payment?

ACH payments are electronic payments made directly between banks through the Automated Clearing House network. It’s a popular form of payment to transfer money without using: 

  • Paper checks.
  • Wire transfers.
  • Cash.

This method works for business-to-business (B2B) and business-to-consumer (B2C) transactions, such as vendor payments.

How to process ACH payments in QuickBooks Online

Here’s how to process ACH payments in QuickBooks Online:

Process a sales receipt or invoice

Image credit: Intuit QuickBooks

You can process payments using bank transfer for new invoices or sales receipts and for recurring sales receipts. 

Here’s how:

  1. Click on “+ New.”
  2. Choose either “Receive Payment” (for an invoice) or “Sales Receipt” (for a sales receipt).
  3. In the “Customer” drop-down menu, pick the customer’s name.
  4. In the “Payment method” drop-down menu, choose either “Check” or “QuickBooks Payment – Bank.”

How to set up recurring ACH payments in QuickBooks

You can also set up recurring ACH payments in case you need to schedule payment or automate transactions by following these steps:

  1. In your settings (gear icon), select “Recurring Transactions.”
  2. Go to “New” and choose “Sales Receipt” for the “Transaction Type.”
  3. Enter a name in the “Template Name” field and choose “Scheduled” as the “Type.”
  4. Select “ACH” for the “Payment Method.”
  5. Fill out the other required details following the onscreen steps and click “Save Template.”

Make sure you’ve set up members as customers.

How to process recurring sales receipts in QuickBooks

Screenshot showing scheduled recurring transactions in QuickBooks Online, highlighting the "credit card on file" icon.

Image credit: Intuit QuickBooks

Once you schedule ongoing ACH payments, you’ll receive the funds every period, provided your customer has sufficient funds in their bank account.

Here’s how you set them up:

  1. Navigate to “Settings” or click the gear icon, then select “Recurring Transactions”.
  2. Locate the recurring sales receipt for your customer and click “Edit.”
  3. In the “Payment method” drop-down list, select “Check” or “Credit card type”

If you need to update a recurring sales receipt, click “Save template” to keep the customer’s payment details.

Enter customer’s banking details

  1. Click on “Enter Bank info.”
  2. Input your customer’s:
    • Name
    • Account type
    • Account number
    • Routing number
  3. Choose “Use this account information in the future,” and you’re done! You’ll automatically receive your customer payments when they’re due.

Get authorization from the customer

Before saving any details, ensure you have your customer’s consent. Print an ACH authorization form and have the customer complete and sign it. 

QuickBooks automatically generates this form based on the details you just entered. You can easily download and reupload it once your customer has signed.

Process the payment

  1. On the transaction form, tick the checkbox beside “I have authorization and would like to process this transaction.”
  2. Review the transaction, then click “Save and send.”
  3. Modify the email message to your customer if necessary, then select “Send and close.”

That’s it! Now you know how to set up ACH payments in QuickBooks Online.

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What are the types of ACH payments?

There are two types of ACH payments — you can think of them as “pulls” and “pushes.”

ACH debit (pull)

An ACH debit is a type of ACH payment that pulls funds electronically from a bank account. In QuickBooks Online, businesses commonly use this method to collect bank payment from clients.

ACH credit (push)

An ACH credit is the opposite of an ACH debit. Here, you push funds from your bank account to another account. You can use this method to:

An ACH credit is the opposite of an ACH debit. Here, you push funds from your bank account to another account. You can use this method to:

How long does it take to process ACH payments in QuickBooks Online?

ACH deposits take between two and seven business days. Recurrent ACH payments take less time after the first transaction with an account.

Save time with the best QuickBooks payment processing integration

QuickBooks helps you with online payments and accounting processes. Method CRM helps you grow your business and get new customers. Together, they make an unstoppable team.

Method’s powerful integration with QuickBooks ensures you manage your business from end to end. It makes it easier to convert prospects into clients and make the most of every sales opportunity. Method offers:

  • A reliable, two-way sync with QuickBooks to keep your customers’ payment info up to date and accessible.
  • Invoice automation and direct payment collection across several channels.
  • Customer management to track all client interactions and improve communication.

Process ACH payments QuickBooks Online: FAQs

Are there fees associated with the QuickBooks Online ACH payment process?

QuickBooks charges a 1% processing fee for every ACH transaction. QuickBooks deducts this transaction fee immediately after funds reach your account. You may also get a notification to your email address about other fees, which QuickBooks deducts on the fifth business day of next month.

What is the difference between EFT vs. ACH?

EFT stands for electronic funds transfer and is a broader term for all digital payments. ACH is a specific type of EFT that is run between financial institutions through the Automated Clearing House network.

Does QuickBooks Online allow split ACH payments?

Yes, QuickBooks Online can handle split ACH payments, which lets you divide payment between different accounts. You can see your split payments under “Transaction List with Splits” in the “Reports” tab.

See how you can extend the limits of QuickBooks with Method. 

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Person paying with credit card

QuickBooks Online payment fees: What you need to know

Accounting, QuickBooks / By

Are you considering QuickBooks for your accounting needs? Keep reading to learn more about QuickBooks Online payment fees.

QuickBooks Online payment fees: What you need to know Read More »

When choosing your accounting software, it’s smart to keep an eye on your wallet. After all, the goal is to save time and money.

You might consider QuickBooks as your solution, but do you know about QuickBooks Online payment fees? These aren’t included in the monthly subscription fee, but they’re just as crucial to budget for. 

Keep reading to learn more about: 

  • The ins and outs of QuickBooks Online payment fees. 
  • Steps to send, record, and receive payments in QuickBooks Online. 

Let’s get started! 

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QuickBooks Payments

Screenshot of QB Payments from an invoice

Image credit: QuickBooks

To get a handle on QuickBooks Online payment fees, you first need to understand QuickBooks Payments. 

QuickBooks Payments is a one-stop solution for handling all your payments. It handles:

  • Credit cards. 
  • Debit cards.
  • PayPal.
  • Venmo. 
  • ACH bank transfers.

With QuickBooks Payments, you can: 

  • Accept credit cards, debit cards, and digital wallet payments. 
  • Accept bank payments and electronic checks. 
  • Easily enter payments on your mobile device. 
  • Automate your invoices for recurring payments.
  • Use the QuickBooks card reader and mobile app. 

Note that to access these features, you must budget for the additional cost of QuickBooks Online payment fees. 

QuickBooks Online payment fees

QuickBooks Payments includes additional fees for credit card processing. Payment processing fees are necessary for QuickBooks to:

  • Securely handle online transactions.
  • Maintain the payment system.
  • Deal with multiple payment channels.
  • Offer customer service. 
  • Comply with regulations.

Simply put, payment fees are key to a reliable and secure electronic payment system.

The extra cost of QuickBooks Online payment fees varies based on your:

  • Pricing plan. 
  • Sales volume.
  • Transaction type. 

So, what are the different types of QuickBooks Online payment fees?

Different types of payment and service fees

Here are the types of QuickBooks Online payment fees and their percentage amounts compared to other payment processors, like Square and Stripe. 

ACH fees

ACH (automated clearing house) fees apply to ACH bank transfers. These are electronic fund transfers between banks that move money from your customer’s bank account to yours. 

ACH payment fees per transaction: 

  • QuickBooks: 1%. 
  • Square: 1% with a minimum of $1. 
  • Stripe: 1.2%. 

Keyed-in payment fees

Keyed-in payment fees occur when you manually enter a customer’s credit card information for a transaction. For example, when you take a payment over the phone. 

Keyed-in transaction payment fees per transaction: 

  • QuickBooks: 3.5%. 
  • Square: 3.5% plus $0.15.
  • Stripe: 3.4% plus $0.30. 

Invoicing fees

These fees apply each time a customer pays an invoice or quick request online. 

Invoicing payment fees per transaction: 

  • QuickBooks: 2.99%. 
  • Square: 2.9% plus $0.30. 
  • Stripe: 2.9% plus $0.30. 

Card reader fees

Card reader fees apply each time your customer taps or inserts a card as their chosen payment method. These can be debit or credit card fees.

Card reader payment fees per transaction: 

  • QuickBooks: 2.5%. 
  • Square: 2.6% plus $0.10. 
  • Stripe: 2.9% plus $0.30. 

According to our research, QuickBooks Online payment fees are more cost-effective than other providers. This means lower rates and more money in your pocket. 

What’s more is that you also enjoy: 

  • No set-up fees. 
  • No monthly fees. 
  • No statement fees.

QuickBooks Payroll fees

Screenshot of QuickBooks payroll dashboard

Image credit: QuickBooks

Payroll is separate from payments, but it also has associated fees you need to be aware of.

QuickBooks Payroll is a separate package from Intuit that operates on a monthly plan. The Online version (QuickBooks Online Payroll) has three pricing options with different levels of functionality, while the Desktop version just has one.

These plans all carry fees for additional users. The most affordable option (Core) is $6 per user, while the most advanced plan (Elite) is $10 per user.

QuickBooks Payroll also charges a $150 cancellation fee for every instance, which negatively impacts your balance.

Now that you know about QuickBooks Online payment fees, let’s answer some key questions about payments. 

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How to receive payment in QuickBooks Online

Great job on making that sale! Now let’s get that payment into your account. 

Whether it’s from a card reader or an online invoice, receiving payments in QuickBooks is straightforward. 

Here’s how to receive payment in QuickBooks Online: 

  1. Go to “+ New” and select “Receive payment.”
  2. Select the name of your customer from the “Customer” dropdown list.
  3. Pick the payment method from the “Payment method” dropdown menu.
  4. In the “Deposit to” dropdown list, choose the account where you deposited the payment.                      

Tip: If you need to group the payment with others, select “Undeposited Funds” from the dropdown list.

  1. In the “Outstanding Transactions” section, mark the checkbox for the invoice you’re recording the payment for.
  2. Enter the “Reference no.” and “Memo” if needed.
  3. Once complete, hit “Save and close.”

And that’s it! You’ve now mastered how to receive payment in QuickBooks Online. 

How to send payment in QuickBooks Online

Paying bills to suppliers and vendors is a big part of running your company. QuickBooks Online makes this process smoother to keep every merchant on your good side. 

Here’s how to send payments in QuickBooks Online: 

  1. Go to the “Bill pay online” widget. 
  2. Click on “Make a payment.” 
  3. Enter the payment details for the payee. 
  4. Click “Choose delivery method.” 
  5. Click “Bank transfer” or “Check.” 
  6. Select “Review and submit.” 
  7. Select “Submit payment.” 

When you submit a payment, QuickBooks Online automatically creates a bill in the background for you. 

How to record QuickBooks payment fees

When dealing with QuickBooks payment fees, it’s important to know how to record them. 

QuickBooks automatically records deposits and fees for transactions made through QuickBooks Payments. But if you’re using a third-party payment processor like PayPal or Stripe, you’ll need to manually record these fees in QuickBooks. 

Here’s how to record QuickBooks payment fees: 

1. Create a sales receipt

To record QuickBooks Online payment fees, start by creating a sales receipt: 

  1. Click the “+ New” icon, then choose “Sales receipt.” 
  2. Select the customer from the “Customer” dropdown. 
  3. In the “Select a product/service” dropdown, select the product or service you sold. 
  4. Click “Save.”

2. Create an expense

Next, create an expense record for the fees you incurred from the sale. 

  1. Click “+ New,” then choose “Expense.”
  2. Choose the payment processor from the “Payee” dropdown. 
  3. In the “Category” column, pick the expense account and enter the amount. 
  4. Select “Save and close.”

3. Match your sales with your deposits

Now, match your sales with your deposits: 

  1. Click the “+ New” button and then select “Bank Deposit.”
  2. Select the account from the “Account” dropdown. 
  3. Check off the payment to include in the deposit. 
  4. In the “Add funds to this deposit” section, input payment fee details for “Received from” and “Account.”
  5. Select “Save and close.”

Get the most out of QuickBooks Online with Method

Method is the #1 lead-to-cash automation tool for QuickBooks users. Through its two-way sync with your accounting software, you’ll receive payments faster and keep your cash flow healthy. 

Say goodbye to the hassle of manual data entry — Method automates everything from approval workflows to customer management to eliminate tedious tasks. 

You can access your QuickBooks data from any location with an internet connection with Method’s mobile app. Plus, you get report generation tools to drive actionable insights on performance and enhance cash flow planning.

Whether it’s recurring billing or one-time transactions, Method ensures stress-free payment processing. 

QuickBooks Online payment fees: Key takeaways

Understanding QuickBooks Online payment fees is crucial. These processing fees vary based on factors like sales volume and transaction type.

While QuickBooks Online makes it easier to handle payments, you’ll need to manually record transactions done through third-party processors. 

For a smoother QuickBooks payment process, consider integrating with tools like Method. You can receive payment in QuickBooks Online and Desktop easily and automate tasks like manual bookkeeping for a better bottom line. 

See how Method simplifies your payment processing today. 

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How to record credit card payments in QuickBooks Desktop 

Accounting, QuickBooks / By

Want to learn how to record credit card payments in QuickBooks Desktop? Our simple guide covers just that and more.

How to record credit card payments in QuickBooks Desktop  Read More »

Are you tired of the endless hassle and confusion that comes with managing credit card payments? The good news is that you don’t have to do it alone. QuickBooks Desktop is a powerful ally to simplify your accounting processes. 

In this blog, you’ll dive into the essentials of how to record credit card payments in QuickBooks Desktop.

You’ll learn:

  • How to enter credit card payments in QuickBooks Desktop. 
  • How to reconcile your credit card account. 
  • Why you should enter credit card payments in QuickBooks Desktop. 

By the end, you’ll be able to navigate your financial transactions and enter credit card payments easily — even without any accounting experience. 

Let’s get started!

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How to add credit card charges in QuickBooks Desktop

The first thing you’ll want to know when learning how to record credit card payments in QuickBooks Desktop is how to add credit card charges. 

Luckily, this process is easy and the same whether your customer has made a full or partial payment. Just follow this step-by-step guide for adding charges in the Desktop version:

  1. Navigate to the “Banking” menu and select “Enter credit card charges.”
  2. Choose the relevant card account from the credit card drop-down menu. By default, the type is set to “Purchase/charge.” To record a credit or refund, select “Refund/credit.”
  3. Check under vendors from the “Purchased From” dropdown and select the right one.
  4. Choose the date of the transaction.
  5. Optionally, add a memo description to explain the charge or credit card refund.
  6. Under the “Expenses or Items” tab, enter the details of the expenses or items you wish to track.
  7. When you’re done in the Expenses tab, select “Save & close” to record the transaction. 

How to reconcile credit card account

Before covering how to record credit card payments in QuickBooks Desktop, it’s important to stress the significance of account reconciliation. Neglecting it leads to inaccurate finances and even legal trouble.

So, reconciling your credit card account is a crucial process. It involves matching your individual transactions from your bank statements with those in QuickBooks. Here’s how to do it:

  1. To start off, double-check that your opening balance is accurate.
  2. Ensure you’ve entered all transactions for the statement period.
  3. Go to the ”Banking” menu bar and select “Reconcile.”
  4. Match the transactions on your bank statement with those in QuickBooks, checking off each as you go.
  5. Once you have a $0.00 difference between your statement and QuickBooks data, you’re all done. 

How to record credit card payments in QuickBooks Desktop

Now, let’s dive into how to record credit card payments in QuickBooks Desktop:

  1. From the “Banking” menu, select “Write checks.”
  2. From the dropdown menu, choose the bank account you’ll use to pay the credit card.
  3. Select the bank account payment date.
  4. Choose the credit card company from the “Pay to the order of” dropdown.
  5. Enter the payment amount.
  6. Under the “Expenses” tab, select your credit card account.
  7. Save and close the transaction

How to record a credit card payment from an overpayment

In case of an overpayment on a credit card, you can adjust the reconciliation process one of two ways. You can:

  • Enter the ending balance as a negative amount during reconciliation to carry it over to the next month.
  • Split the banking transaction by assigning multiple payees and amounts as needed.

Here’s how:

1. Find the transaction that reflects the overpayment in your QuickBooks Desktop ledger.

Choose to “Split” the transaction.

2. In the split transaction window, assign portions of the overpaid amount to different payees or expense categories as needed. For example, if the overpayment is to be allocated to future expenses, you can assign it accordingly.

3. Assign the appropriate amounts to each split to accurately reflect how the overpayment should be allocated.

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Why enter credit card payments in QuickBooks Desktop?

There are several benefits when you enter payments from credit cards in QuickBooks. Here are some reasons why it’s worth learning how to enter credit card payments in QuickBooks Desktop. 

First, it simplifies the reconciliation process. By learning how to enter credit card payments in QuickBooks Desktop, you can easily compare your QuickBooks records against your credit card statements to keep them aligned. This ensures that you track and account for all transactions, which is crucial to maintain accurate records and identify discrepancies quickly​​.

Also, with credit card transactions you’ve recorded in QuickBooks, it’s easier to spot billing errors. You can compare your QuickBooks data against credit card statements to quickly find any: 

  • Unauthorized charges.
  • Duplicate entries.
  • Discrepancies in amounts charged. 

This keeps your data up to date and protects against fraudulent activities​​.

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What else do you benefit from once you learn how to enter credit card payments in QuickBooks Desktop? Managing credit card payments in QuickBooks allows for centralized tracking of your financial transactions. 

This simplifies your record-keeping process and provides valuable insights into overall business performance. As a result, you get better control over your finances, where you:

  • Accurately track expenses and income.
  • Manage cash flow more efficiently. 
  • Make informed decisions based on comprehensive financial and accurate reports. 

Also, learning how to enter credit card payments in QuickBooks Desktop saves you from wasted time and common errors. This is largely because QuickBooks’ automated system reduces the need for manual data entry, which is especially beneficial if you have a high volume of credit card transactions.

Lastly, QuickBooks is able to integrate with various applications like PayPal and Square to enhance its functionality. This makes it easier to run your business and collect payments, as you can seamlessly manage financial transactions across different platforms​.

Wrap-up: How to enter credit card payments in QuickBooks Desktop

Knowing how to enter credit card payments in QuickBooks Desktop is an essential practice for efficient financial management. The benefits you gain include:

  • Simplified reconciliation and error detection for accurate reports and data.
  • Better control over finances and reduced manual errors.
  • Great integration with other apps.

If you’re looking to extend the capabilities of your accounting software, Method is a powerful integration for QuickBooks. The platform gives you:

  • Powerful two-way sync with QuickBooks to reduce double-data entry time and errors.
  • Enhanced customer management for a 360-degree view of your clients.

Customizable workflows tailored to your business needs.

Don’t let the limits of QuickBooks hold you back. Check Method out.  

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