Introduction

Quickbooks Self Employed is a cloud-based accounting software designed specifically for freelancers, independent contractors, and self-employed individuals. It offers a range of features to help users manage their finances, track expenses, and prepare taxes. In this review, we will take a closer look at the key features of Quickbooks Self Employed and evaluate its overall performance.

Features of Quickbooks Self Employed

Quickbooks Self Employed is a cloud-based accounting software designed specifically for freelancers, independent contractors, and self-employed individuals. It offers a range of features that help users manage their finances, track expenses, and prepare taxes. In this article, we will review some of the key features of Quickbooks Self Employed.

One of the most important features of Quickbooks Self Employed is its ability to track income and expenses. Users can connect their bank accounts and credit cards to the software, which automatically categorizes transactions and tracks income and expenses in real-time. This feature saves users time and effort by eliminating the need to manually enter data into spreadsheets or other accounting software.

Another useful feature of Quickbooks Self Employed is its mileage tracking tool. This feature allows users to track their business-related mileage automatically using their smartphone’s GPS. The software calculates the mileage deduction based on the IRS standard mileage rate, which can save users money on their taxes.

Quickbooks Self Employed also offers invoicing and payment processing capabilities. Users can create professional-looking invoices and send them directly to clients from within the software. Clients can then pay invoices online using a credit card or bank transfer. This feature helps users get paid faster and simplifies the payment process for both parties.

The software also includes a tax preparation feature that makes it easy for users to prepare their taxes. Quickbooks Self Employed automatically calculates estimated quarterly taxes based on income and expenses, and provides users with a year-end summary report that can be used to file taxes. This feature saves users time and reduces the risk of errors when preparing taxes.

In addition to these features, Quickbooks Self Employed also offers a mobile app that allows users to manage their finances on-the-go. The app includes all of the same features as the desktop version, including income and expense tracking, mileage tracking, invoicing, and tax preparation. The app also includes a receipt capture feature that allows users to take photos of receipts and store them in the software for easy reference.

Overall, Quickbooks Self Employed is a powerful accounting software that offers a range of features designed specifically for self-employed individuals. Its ability to track income and expenses, mileage, and invoicing make it a valuable tool for managing finances and preparing taxes. The software’s mobile app also makes it easy to manage finances on-the-go, which is essential for busy freelancers and independent contractors.

In conclusion, if you are a self-employed individual looking for an easy-to-use accounting software, Quickbooks Self Employed is definitely worth considering. Its range of features, including income and expense tracking, mileage tracking, invoicing, and tax preparation, make it a valuable tool for managing finances and preparing taxes. Additionally, its mobile app allows users to manage their finances on-the-go, which is essential for busy freelancers and independent contractors.

Simplifying Finances with Quickbooks Self Employed: A Comprehensive Review

Are you a self-employed individual looking to simplify your financial management? If so, you’re not alone. Managing expenses, invoicing clients, and staying on top of taxes can be overwhelming. Thankfully, Quickbooks Self Employed is here to help. In this comprehensive review, we’ll dive deep into Quickbooks Self Employed, exploring its pricing plans, user interface, integration options, customer support, and how it stacks up against other accounting software. So, let’s get started!

Pricing Plans for Quickbooks Self Employed

Choosing the Right Plan for You

When it comes to accounting software, pricing is a crucial factor. Quickbooks Self Employed offers three pricing plans tailored to different needs:

Self-Employed Plan – At $15 per month, this is the basic option. It allows you to track income and expenses, create invoices, and calculate quarterly estimated taxes. You can also connect your bank accounts and credit cards for automatic transaction imports.
Self-Employed Tax Bundle Plan – Priced at $25 per month, this plan includes all the features of the Self-Employed plan. Additionally, it enables you to file your federal and state taxes directly through the software. You also gain access to a tax expert for any tax-related queries.
Self-Employed Live Tax Bundle Plan – The most comprehensive option, this plan costs $35 per month. It offers all the features of the Tax Bundle plan, along with the valuable perk of having a certified public accountant (CPA) review your tax return before filing. This added layer of expertise provides peace of mind.

All three plans offer a 30-day free trial, allowing you to test the software before committing to a subscription. Quickbooks Self Employed also offers a discount for the first three months of any plan, making it even more budget-friendly for newcomers.

User Interface and Navigation of Quickbooks Self Employed

Simplicity at Its Best

Quickbooks Self Employed offers a user-friendly interface that simplifies financial management. The dashboard provides a clear overview of your income, expenses, and tax obligations. Navigating the software is a breeze, thanks to the intuitive menu bar on the left side of the screen, which gives you easy access to various sections like transactions, invoices, mileage tracking, and taxes.

One standout feature is the automatic categorization of transactions. When you link your bank account or credit card, Quickbooks Self Employed automatically categorizes each transaction based on its type, saving you time and ensuring accuracy. If needed, you can manually adjust categories, add notes, and attach receipts for reference.

Mileage tracking is another handy feature. You can input starting and ending odometer readings for trips, and the software calculates the distance traveled and the associated tax deduction. This feature is especially useful for self-employed individuals who often need to track business-related travel.

Quickbooks Self Employed also simplifies the invoicing process. You can customize invoices with your logo and branding, choose from various templates, and track their status. Automatic reminders for unpaid invoices help ensure you get paid on time.

Integration with Other Apps and Services

Streamlining Your Workflow

Quickbooks Self Employed shines when it comes to integration with other apps and services. It seamlessly connects with popular payment platforms like PayPal and Square, automatically importing transactions into your account. This integration saves you from manual data entry and potential errors.

TurboTax integration is another noteworthy feature. It simplifies tax preparation by transferring financial data from Quickbooks Self Employed to TurboTax, reducing the risk of errors and saving you precious time during tax season.

Do you use other business-related apps? Quickbooks Self Employed has you covered, with integration options for over 50 popular apps, including Shopify, Etsy, and Stripe. This integration streamlines the process of importing sales data into Quickbooks Self Employed, making it easier to track income and expenses.

The mobile app for Quickbooks Self Employed, available on both iOS and Android devices, allows you to manage your finances on the go. You can track mileage, create invoices, categorize expenses, and more, all from the convenience of your smartphone or tablet.

Customer Support for Quickbooks Self Employed

Help When You Need It

When it comes to customer support, Quickbooks Self Employed offers multiple options:

Help Center: Accessible via a question mark icon in the top right corner of the screen, the Help Center provides answers to frequently asked questions and step-by-step guides.
Phone Support: Available Monday through Friday from 6 am to 6 pm Pacific Time, you can call a toll-free number for assistance.
Chat Support: Also available during the same hours as phone support, the chat feature lets you chat with a representative in real time.
Email Support: You can send an email to the support team and typically receive a response within 24 hours.

While Quickbooks Self Employed’s customer support options cover a wide range of needs, some users have reported long wait times when calling for support. To avoid delays, chat or email support may be preferable for non-urgent issues.

Pros and Cons of Using Quickbooks Self Employed

Is Quickbooks Self Employed Right for You?

Pros:

Ease of Use: Quickbooks Self Employed offers an intuitive interface that simplifies financial management tasks.
Time-Saving: Automation of expense tracking, invoicing, and tax estimation frees up your time for core business activities.
Mobile App: The mobile app allows you to manage your finances on the go, with access to all desktop features.
Tax Preparation: Quickbooks Self Employed simplifies tax preparation by automatically categorizing expenses and generating reports.
Affordability: Despite its features, Quickbooks Self Employed offers competitive pricing, starting at $15 per month.

Cons:

Limited Features: It may lack some advanced features required by larger businesses with complex accounting needs.
No Double-Entry Accounting: Quickbooks Self Employed uses single-entry accounting, which may limit your ability to track assets and liabilities accurately.
No Payroll Management: If you have employees, you’ll need to handle payroll manually.
Limited Integrations: While it integrates with essential apps, it may not cover all the software you use.
Customer Support: Some users have reported long wait times when calling for support.

Comparison with Other Accounting Software for Self-Employed Individuals

Finding the Right Fit

Quickbooks Self Employed is a strong contender, but it’s essential to consider how it compares to other accounting software options for self-employed individuals.

FreshBooks: Like Quickbooks Self Employed, FreshBooks offers invoicing and expense tracking. It also includes time tracking and project management tools, making it suitable for freelancers who bill by the hour or work on multiple projects.
Wave: Wave offers invoicing and expense tracking similar to Quickbooks Self Employed. However, it stands out with its free basic accounting features, making it an attractive option for budget-conscious self-employed individuals.

When choosing accounting software, your specific needs should guide your decision. Do you require advanced project management tools like FreshBooks offers? Are you looking for a cost-effective solution like Wave? Or does Quickbooks Self Employed’s balance of features and ease of use suit you best?

Overall Review and Recommendation for Quickbooks Self Employed

A Powerful Ally for Self-Employed Individuals

In summary, Quickbooks Self Employed proves to be a reliable and efficient tool for managing finances as a self-employed individual. Its user-friendly interface, automatic expense tracking, and tax estimation features simplify financial management and save you valuable time.

While it may have a relatively higher cost and limited customer support in some cases, the benefits it offers make it an excellent investment for those looking to streamline their financial management processes. The choice ultimately depends on your specific needs and budget, so consider your requirements carefully when deciding if Quickbooks Self Employed is the right fit for you. With the right software, you can simplify your financial management and focus on what you do best – running your business.

Frequently Asked Questions (FAQ)

Got questions about Quickbooks Self Employed? We’ve got answers! Check out our FAQ section for insights into common queries about this accounting software.

1. What is Quickbooks Self Employed, and who is it designed for?

Quickbooks Self Employed is cloud-based accounting software tailored for freelancers, independent contractors, and self-employed individuals. It offers tools to help manage income, expenses, invoicing, and tax-related tasks efficiently.

2. How does Quickbooks Self Employed simplify expense tracking?

Quickbooks Self Employed streamlines expense tracking by allowing users to connect their bank accounts and credit cards. The software automatically categorizes transactions, saving time and ensuring accurate expense records. Users can also manually categorize transactions and attach receipts for reference.

3. Can Quickbooks Self Employed help with tax preparation?

Yes, it can! Quickbooks Self Employed estimates quarterly taxes based on your income and expenses, making tax planning more manageable. Additionally, it integrates with TurboTax, simplifying the process of transferring financial data for tax filing.

4. What pricing plans are available for Quickbooks Self Employed?

Quickbooks Self Employed offers three pricing plans:

Self-Employed Plan at $15 per month.
Self-Employed Tax Bundle Plan at $25 per month.
Self-Employed Live Tax Bundle Plan at $35 per month.

Each plan offers a 30-day free trial, and there are discounts available for the first three months.

5. How does Quickbooks Self Employed handle invoicing?

Quickbooks Self Employed makes invoicing a breeze. Users can create professional invoices, customize them with branding, and send them directly to clients. The software also offers automatic reminders for unpaid invoices to help you get paid promptly.

6. Does Quickbooks Self Employed offer mobile access?

Yes, Quickbooks Self Employed has a mobile app available for both iOS and Android devices. It provides access to all desktop features, allowing users to manage their finances on the go.

7. What integrations are available with Quickbooks Self Employed?

Quickbooks Self Employed integrates with various apps and services, including popular payment platforms like PayPal and Square. It also connects with TurboTax for seamless tax filing. Additionally, it offers integration options with over 50 other business-related apps, simplifying data import and workflow automation.

8. Is there customer support available for Quickbooks Self Employed?

Yes, Quickbooks Self Employed offers customer support through multiple channels. Users can access a Help Center with FAQs and step-by-step guides. Phone and chat support are available during business hours, and email support typically provides responses within 24 hours.

9. Are there any limitations to Quickbooks Self Employed?

While Quickbooks Self Employed is an excellent tool for self-employed individuals, it may have some limitations, such as:

Limited features compared to more comprehensive accounting software.
No double-entry accounting for tracking assets and liabilities.
Lack of payroll management (manual payroll calculations may be required).
Limited integrations with other software.
Some users have reported long wait times for phone support.

10. How does Quickbooks Self Employed compare to other accounting software for self-employed individuals?

Quickbooks Self Employed competes well with other options like FreshBooks and Wave. The choice depends on your specific needs. For example, FreshBooks offers time tracking and project management tools, while Wave stands out with its free basic accounting features. Consider your requirements carefully when deciding which software is the best fit for your business.

If you have more questions or need further assistance, don’t hesitate to reach out to Quickbooks Self Employed’s customer support for personalized guidance.

Quickbooks Self Employed Review