Are you worried about handling your accounts along with your budding business? Quickbooks is here to rescue. Quickbooks is one of the highest-ranked accounting service providers, well known to solve accounting issues of different orders and types around the globe. Quickbooks have come up with one of the most accurate and efficient solutions to all your problems.
As a small business owner or a freelancer, balancing accounting can be very difficult. Here QuickBooks self-employed plays a huge role. Quickbooks self-employed is accounting software that offers various accounting tools which help them in different accounting activities. The design and plan of Quickbooks self-employed are kept such that it is best suitable for single users such as freelancers, sole proprietors, etc. Also, the accounting software allows you to track your expenses and taxes using a single software. This makes accounting easier for a single-hand user. However, the owners with a larger business group can seek the guidance of a professional accountant via Quickbooks self-employed. Yes, along with accounting tools, it allows you to seek advice and guidance from professionals.
Services Offered By Quickbooks Self Employed
Right after understanding what is Quickbooks? Come to the question of what it offers. Various services offered by Quickbooks self-employed include:
- Mileage tracking
- Expense tracking
- Filling out the tax return
- Classification of expenses into personal and professional
- Profit tracking
- Invoice generation
- Quarterly tax estimation
- Online payment of Quarterly taxes
- Creation of limited reports
And such accounting activities.
Quickbooks Self Employed- Best For Freelancers And Self Employed Professionals
The self-employed version is designed to be best suitable for freelancers and users who wish to use accounting software single handily. Although it is well suited for all the working professionals, the plans of Quickbooks to provide a better classification based on usage and requirements of a user.
The three different plans of Quickbooks self-employed available for the users are
- Quickbooks self-employed- basic
This plan is well suited for the users who wish to perform basic accounting activities such as invoice generation, tracking expenses, or generation of schedules. Also, the users who wish to manage accounts of a small group of activities and seek help in the classification of expenses can be highly benefited from this plan. This plan of Quickbooks self-employed allows access to only one user at a time. The users can get this accounting software by paying 15 dollars every month. This charge includes all the expenses associated with this accounting software for all the services they offer.
- Self-employed tax bundle
This accounting software plan goes right for the users who wish to manage a little more than just personal profit and expenses. Along with the existing features of a basic plan, this plan allows the user to pay quarterly tax via online methods of payment. This accounting software plan allows you to generate quarterly tax returns and such documents. However, the users can only get single access with this plan as well. The user with the portal on QuickBooks can use all the accounting tools without any hindrance. The users have to pay a little more amount which goes up to 25 dollars every month.
- Self-employed live tax bundle
The self-employed live tax bundle is the premium plan. This plan allows the users to utilize all the accounting services available for the users. This plan is well suitable for the users who manage the team as a small business owner or management accounting services as a single partner in a running business. This plan provides access to the users and an accountant. Also, an additional feature offered to the users by self-employed live tax bundles is to get the advice of a professional accountant regarding the tax return documents. The users have to pay 35 dollars each month to avail this plan on their device and Quickbooks application.
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Features Of Quickbooks Self Employed
Features of Quickbooks that makes it the best and the most successful accounting software for freelancers and small business owners include
- Affordable accounting software plans to start from 15 dollars a month
- Appropriate for single users and beginners of accounting
- Graphical and well-directed platform to ensure ease while using
- Can be accessed via the application in addition to the desktop application
- Easily available on QuickBooks application of ios and android platforms
- Ease in filing federal and state taxes via TurboTax directly
- Easy to use features that come with further guidance
And many more such features make the Quickbooks self-employed the first choice of independent professionals.
Advantages Of Quickbooks Self-Employed
The various features found best by the experts include
- Best accounting software for a small group of independent professionals
- Accounting software that offers all the accounting tools under one platform
- Tax support provided by the Quickbooks self-employed software is accurate and efficient
- Easy to use application and desktop user interface
- Easy navigation to different tools and their uses
- Online payment option of quarterly taxes
- Easy classification of expenses from a single bank account
- Tracking mileage and expenses on the same platform
- Availability of option to fill out tax returns directly via TurboTax
Apart from these advantages, the Quickbooks self-employed offers many services preferred by self-employed professionals.
Disadvantages Of Quickbooks Self-Employed
There are some features and characteristics of the QuickBooks software which is not liked by the working professionals. It includes:
- Available for only small size businesses and single users
- Unavailability of access to separate users
- No option to generate or get a balance sheet of expenses
- Limited invoice generation
- A limited number of report generation
- Not able to track unpaid bills
Although these features are counted amongst the disadvantages of Quickbooks, the platform is working on all these to make the accounting software better.
The self-employed version is web-based accounting software and is available on other platforms such as Quickbooks applications. It is well suitable for the accounting services related to small business owners and freelancers. All the users who wish to manage small expenses are classified as personal and professional expenses.