Get the Finder app 🥳

Track your credit score, free

Free

QuickBooks Inventory Management

&

Last updated:  

QuickBooks helps you manage your accounts, including sending invoices, tracking expenses, managing payroll and even completing your tax.

If you run a small business and you'd like to manage your accounting with ease, then QuickBooks is an option worth thinking about.

The platform has a host of features that are supported by a clear dashboard where you can track your business finances in real-time. Plus, by choosing a premium plan you'll access some useful inventory processes.

Read on to find out more about QuickBooks and compare four of its plans side-by-side.

What is QuickBooks?

QuickBooks is accounting software that makes balancing your books easier - it synchronises with your bank account and automates certain accounting actions.

You can use QuickBooks to create professional invoices for your business, track expenses, pay employees, complete your tax and connect to your business apps. You get to choose from various pricing plans that QuickBooks offers, according to your business needs.

QuickBooks is owned by the American business and software company Intuit which operates in nine countries across the globe, including Australia.

Pricing and packages

If you want to test the water before taking the plunge, it's worth considering the 30-day free trial offer. Unlike most free trials, QuickBooks doesn't ask for your credit card details up front.

If you're considering moving to the paid version after the free trial, it's important to remember that you can tailor the version you get to the type of business you run. Below is a breakdown on pricing and packages.

QuickBooks Self-EmployedSimple StartEssentialsPlus
Monthly plan$10.50$14$24.50$35
No. of users1 user1 userUp to 3 usersUp to 5 users
Features
  • Track incoming and outgoing GST
  • Mileage tracking
  • Separate business and personal transactions, including expenses
  • Reporting
  • Send invoices from your phone
  • Snapped, sorted and stored receipts
  • Track GST and generate reports which can be lodged at tax time
  • Send custom invoices and quotes
  • Manage payroll - up to 4 staff
  • Income and expense management
  • Cash flow planning tool
  • Snapped, sorted and stored receipts
  • Mileage tracking
  • Reporting
  • Connect to your bank
All features of the Simple Start plan, plus:

  • Bills and payments management
  • Multi-currencies supported
  • Set up recurring transactions
All features of the Essentials plan, plus:

  • Stock management
  • Track projects and locations
  • Manage budgets

What features does QuickBooks offer?

  • Sync with your bank account. You can connect QuickBooks to your bank accounts and keep track of purchases, cash withdrawals and fund transfers. Since you can download all the required information directly from your linked accounts, you don't have to make manual entries.
  • Create professional invoices. You can create customised invoices with company branding in QuickBooks and choose whether you want to accept payments with PayPal or bank transfer.
  • Track expenses. The option of capturing and saving receipts using your phone makes tracking expenses easy.
  • Connect to apps. Integrating QuickBooks with apps your business already uses should not be difficult. Some of the platforms you can integrate with QuickBooks include PayPal, Square and Microsoft Power BI among others.
  • Bill payments. Recording and paying vendor bills is easy when you use QuickBooks, and you can also schedule recurring payments if required.
  • HMRC self-assessment. QuickBooks can be used to take the hassle out of preparing and filing your tax.
  • Online reports. QuickBooks Online gives you access to various reports that can give you a clear indication of how your business is doing. These include company snapshots, profit and loss statements, as well as balance sheets.
  • Pay employees. QuickBooks Payroll gives you an easy way to sort out timesheets and payslips. You simply have to enter employee hours and the software does the rest. Note this service requires an additional fee.

Pros and cons of QuickBooks

Pros

  • Synchs with your bank to easily track your income and expenses
  • Helps to prepare and file your tax
  • 30-day free trial is available and offers flexibility
  • live chat and phone support offered

Cons

  • Payroll services cost extra
  • You can't upgrade from the Self-Employed plan
  • Not all features are available on mobile devices

How to apply

You can start the application process via QuickBooks' website or by calling their sales team. Existing customers can typically import their data from another version of QuickBooks (most current versions will convert and upload), or start from scratch.

Frequently asked questions

Can I add optional features later?

Yes, you can add any features to your QuickBooks Online service at any time.

Can I import data from non-Intuit applications?

Yes, but to import information from another accounting system you will have to contact customer service for assistance.

What are the system requirements for using QuickBooks Online?

  • Internet connection required (high-speed connection recommended)
  • Supported browsers: Chrome, Firefox, Internet Explorer 10, Safari 6.1
  • Also accessible via Chrome on Android and Safari on iOS 7
  • QuickBooks Online mobile app works with the iPhone, iPad, and Android phones and tablets
  • Not all features are available on mobile devices

Will QuickBooks back up my data?

Yes. QuickBooks automatically backs up your data daily, and also maintains two copies of your data on its firewall-protected servers.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site