QuickBooks has a significant history in the realm of accounting software. With the introduction of QuickBooks Online, Intuit has extended its potent accounting solutions to businesses by integrating cloud technology.
QuickBooks Online has tailored options for various business types, including sole proprietors, LLCs, corporations, non-profits, and freelancers. Small businesses can choose from Simple Start, Essentials, Plus, and Advanced plans, while freelancers have the more budget-friendly option of QuickBooks Online Self-Employed. Simple Start and Essentials offer basic features among the small business plans, while growing SMBs may find QuickBooks Online Plus vs. Advanced more helpful.
This leaves us with the need to compare QuickBooks Online Plus vs QuickBooks Online Advanced to access more robust features.
We will focus on the two top-tier versions of QuickBooks Online—Plus and Advanced. We will tackle the key features of both versions to help you weigh their pros and cons and figure out which is better for your business.
Common Capabilities of QuickBooks Online Plus and Advanced
In addition to the standard features included in all QuickBooks Online plans, both QuickBooks Online Plus and Advanced offer additional functionalities that are essential for small and medium-sized businesses looking to expand.
Here are some of the capabilities they have in common:
- Tracking Financial Records: This includes monitoring transactions, invoices, and statements.
- Tax Categorization: Business transactions can be sorted for tax purposes.
- Automated Payment Updates: Payments can be automatically updated and reconciled.
- Mileage Tracking: You can keep track of trip miles for tax deductions and reimbursements.
- Robust Reporting: You can create detailed reports covering sales, inventory levels, profitability, budgeting, and expense management.
- Estimate Conversion: Accurate estimates can be easily converted into invoices.
- Billable Time: You can include billable hours in your invoices and grant secure access to employees for adding their hours.
- Multi-User Access: Multiple users can access the system, with data protection through auto-sync and user-level access controls.
- Project Profitability Estimation: Reports consider factors like labor costs, job-related expenses, and payroll to estimate project profitability.
- Inventory Management: You can track inventory data with Excel and integrate it with popular e-commerce solutions.
QuickBooks Online Plans Comparison: Pricing & Features
| Features | QuickBooks Plus | QuickBooks Advanced |
| Pricing | $90 | $200 |
| Users Included | 5 | 25 |
| Print Balance Sheet | ✓ | ✓ |
| Print Checks | ✓ | ✓ |
| Manage Unpaid Bills | ✓ | ✓ |
| Track Time & Add to Invoices | ✓ | ✓ |
| Track Inventory & COGS | ✓ | ✓ |
| Track Activity by Project, Class & Location | ✓ | ✓ |
| Advanced Reporting | ✓ | ✓ |
| Dedicated Customer Service Representative | ✓ | ✓ |
QuickBooks Online Plus Features
QuickBooks Online Plus includes many enhanced features not available in the lower plans, such as tracking inventory expenses and determining project-specific profit and loss.
In QuickBooks Online Plus, you can enjoy the following key features:
- Customize Invoices
- Handle Contractors, Form 1099
- Manage Unpaid Bills
- Track Income & Expenses by Class/Location
- Monitor Profit & Loss by Location
- Inventory Tracking, COGS Calculation
- Generate Purchase Orders for Vendors
- Administer User Access up to 5 users
QuickBooks Advanced Features
- Deeper insights powered by Fathom.
- Dynamic, presentation-ready report creation.
- Bulk invoicing for efficiency.
- Control over data access.
- Dedicated customer success manager support.
- 5 online class credits for team training.
- Accommodates up to 25 users
While Plus is the best QuickBooks Online option for retailers, wholesalers, and contractors, you should also consider QuickBooks Desktop, which offers more features and flexibility for dealing with inventory and projects. Learn more in our QuickBooks Online vs Desktop comparison.
Bottom Line
The best QuickBooks Online version depends on the size of your business and your particular needs. Whether you choose QuickBooks Online Plus or QuickBooks Online Advanced, Tax1099 seamlessly integrates with both accounting systems. With a simple click, you can effortlessly sync your 1099 vendors from either QuickBooks Online Plus or QuickBooks Online Advanced to Tax1099, making your tax preparation process smoother.
