QuickBooks has become a household name in the accounting software industry. With various versions, it can be challenging to determine which version suits your needs. In this post, we'll compare QuickBooks Desktop and QuickBooks Self-Employed to help you make an informed decision.
QuickBooks Desktop
QuickBooks Desktop is the traditional version that has been around since 1992. It is an on-premise accounting software that you install on your computer. It offers more features and flexibility than QuickBooks Self-Employed, making it an ideal choice for medium to large-sized businesses.
Features
QuickBooks Desktop offers a wide range of features. Here's a breakdown of some of the main features:
- Invoicing
- Payroll processing
- Inventory tracking
- Bank reconciliations
- Budgeting and forecasting
- Job costing
- Purchase order creation
- Time and expense tracking
Cost
QuickBooks Desktop offers four plans:
- Pro ($399.99)
- Premier ($649.99)
- Accountant ($799.99)
- Enterprise (Custom pricing)
The prices listed are for a one-time purchase, and you can use the software for three years. You can choose to pay annually and choose a subscription plan that offers additional services at an extra cost.
QuickBooks Self-Employed
QuickBooks Self-Employed is a cloud-based version of QuickBooks designed for sole proprietors, freelancers, and independent contractors. It offers basic bookkeeping features for tracking income and expenses, making it an ideal option for small businesses.
Features
QuickBooks Self-Employed offers the following features:
- Invoicing
- Expense tracking
- Mileage tracking
- Estimated tax payments
Cost
QuickBooks Self-Employed offers two plans:
- Self-Employed ($15/month)
- Self-Employed Tax Bundle ($25/month)
The tax bundle plan includes TurboTax, which makes tax filing easier.
Comparison
Here's a side-by-side comparison of the two versions:
| Feature | QuickBooks Desktop | QuickBooks Self-Employed |
|---|---|---|
| Invoicing | ✓ | ✓ |
| Payroll processing | ✓ | |
| Inventory tracking | ✓ | |
| Bank reconciliations | ✓ | |
| Budgeting and forecasting | ✓ | |
| Job Costing | ✓ | |
| Purchase order creation | ✓ | |
| Time and expense tracking | ✓ | |
| Expense tracking | ✓ | |
| Mileage tracking | ✓ | |
| Estimated tax payments | ✓ | |
| Price | $399.99-$799.99 | $15-$25 |
As seen from the comparison table, QuickBooks Desktop offers advanced features suitable for medium to large-sized businesses. In contrast, QuickBooks Self-Employed is a basic version suitable for small businesses.
Conclusion
In conclusion, when choosing between QuickBooks Desktop and QuickBooks Self-Employed, the decision comes down to the size and complexity of your business. Companies that have multiple users, complex inventory tracking, and payroll processes will find QuickBooks Desktop advantageous. QuickBooks Self-Employed is ideal for sole proprietors, freelancers, and independent contractors.
References
- Intuit. (n.d.). QuickBooks Desktop. Retrieved August 10, 2021, from https://quickbooks.intuit.com/desktop/
- Intuit. (n.d.). QuickBooks Self-Employed. Retrieved August 10, 2021, from https://quickbooks.intuit.com/self-employed/