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Intuit Quickbooks

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Intuit Quickbooks
Introduction

QuickBooks, from Intuit, is one of the most widely used accounting software packages in the world. It handles invoicing, expense tracking, reporting and payroll, giving a small business a full set of books in one place.

Who it suits

QuickBooks fits a small business that wants established, feature-rich accounting software and works with an accountant who knows the platform well.

What you get

  • Invoicing, expenses, bank reconciliation and reporting.
  • Payroll and tax features depending on the plan and region.
  • A large ecosystem of integrations and accountant familiarity.
  • Cloud access from anywhere.

Pricing

QuickBooks is a monthly subscription, priced in US dollars, with tiers by features and users. Check current plans and, importantly, how well it supports South African tax and VAT for your needs before committing.

Our take

QuickBooks is powerful and popular, but for a South African SME it is worth checking local tax support and comparing against locally-strong options. See our accounting and business tools, and remember that clean tax and accounting is what makes you fundable and compliant.

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Related: Tax and accounting  ·  Cash flow  ·  More business tools

Main Features

Invoicing: Create professional custom invoices, send payment reminders, and match payments to invoices, automatically.

Bank Feeds: QuickBooks enables you to connect your bank account with your QuickBooks account. List of banks available include ABSA Bank, Capitec Bank, First National Bank, Investec, Nedbank, and Standard Bank.

VAT Compliance: Easily organise expenses into tax categories and track VAT on income and expenses, so you know where you stand and how much you owe.

Insights and Reports: Access insights to see how your business is doing and get an advance snapshot for 90 days ahead, with a range of popular reports and the cash flow planner.

Inventory Tracking: QuickBooks inventory management software keeps an eye on your stock levels with real time information and low stock alerts.

Capture and Organise Receipts: Use your phone to take photos of receipts. Match these to expenses to stay organised and ready for tax season with everything in one place.

Mobile App: Manage your business and access your accounting records directly from the QuickBooks app. The app is available to download on Google Play and the App Store.

Multi-currency Support: Send invoices, record transactions and adjust reports in different currencies and assign specific currencies to each customer.

Intuit Intelligence: Intuit Intelligence is the generative AI-powered assistant built directly into QuickBooks. Acting as a digital teammate, it automates financial tasks, categorises bank feeds, personalises insights, and answers queries on your behalf.

Pricing

QuickBooks has four pricing plans available. Each plans has a free 30-day trial and unlimited customer support. Currently, QuickBooks is running a 90% off sale for the first 6 months.

Simple Start Plan – R32,20 per month or R1738,49 on the yearly plan. The Simple Start plan features:

  • 1 user plus access for your accountant
  • Access to Intuit Intelligence to categorise your transactions quickly and accurately, access to online chat for instant insights (limited queries) and delegate tasks to AI
  • Income and expense tracking
  • Invoice and quotes

Essentials Plan – R50, 80 per month or R2742,99 on the yearly plan. The Essentials plan features everything on the simple start plan, plus:

  • 3 users plus access for your accountant
  • Intuit Intelligence access includes spotting transactions that need immediate attention, clean up your books with Accounting AI, chat for instant queries and delegate tasks to AI
  • Bill management tools
  • Support for multiple currencies

Plus Plan – R70,79 per month or R3822,99 on the yearly plan. The Plus plan includes everything in the essentials plan, plus:

  • 5 users plus access for your accountant
  • Intuit Intelligence access to Accounting AI, surfacing profits and loss insights, source leads through Customer AI, chat for instant queries and delegate tasks to AI.
  • Inventory tracking
  • Project profitability
  • Class and location tracking

Advanced Plan – R114,40 per month or R6177,49 on the yearly plan. The Advanced plan features everything on the plus plan, and:

  • 25 users plus access for your accountant
  • Access to Intuit Intelligence to Project Management AI, tailored financial insights with Financial AI, chat for instant queries, and delegating tasks to AI.
  • Customise platform access by role
  • Unlimited classes and locations
  • Custom report builder
  • Workflow automation
  • Data synchronisation with Excel
Pros and Cons

Pros

Integration with local banks
Has local pricing
All plans have comprehensive features
Compliant with local VAT reporting regulations

Cons

Free plan allows for only one user
No inventory management on cheapest plan
Cost to add users
FAQs

No, QuickBooks is cloud-based and accessible on all your devices. There’s nothing to download. All you need is a subscription and an internet connection.

No, QuickBooks is designed to be user-friendly, even for those without formal accounting experience. They offer tutorials, guides, and webinars to help you learn the ropes.

Yes, QuickBooks allows you to import data from various accounting software programs. The specific import process will vary depending on the software you used previously.

Yes, you can manage multiple businesses with one login with QuickBooks multi-files. Run multiple accounts with one login, one password, and at a discounted rate. Learn more about QuickBooks multi-files.

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