QuickBooks Accounting Software for Small Business (FAQs) 

October 13, 2022

QuickBooks Accounting Software for Small Business (FAQs) 

QuickBooks is used all over the world and is widely considered one of the best overall accounting platforms for small business owners. In this brief post, we will answer some of the most common questions about QuickBooks accounting software for small business including, how much is QuickBooks? Is QuickBooks good for small businesses? Is QuickBooks desktop being phased out? and much more.

Keep reading for answers to the most common questions about QuickBooks accounting software for small business.  

What is QuickBooks accounting software for small business?

QuickBooks is an accounting software solution designed to assist small business owners with managing their business finances. It helps you keep track of customers, vendors, employees, and inventory, as well as provides financial reporting and analysis tools such as budgets, charts, graphs, and more to help you make better business decisions. If you're looking for a solution to help you manage your small business accounting and finances, then QuickBooks is a great option

What is QuickBooks software used for?

QuickBooks Software is primarily used for managing the financial aspects of a small or medium-sized business. Its features include:

  1. Invoicing: Create and send professional invoices to clients.
  2. Expense tracking: Record and categorize business expenses.
  3. Banking integration: Connect your bank accounts for seamless transaction import and reconciliation.
  4. Payroll management: Calculate employee pay, process direct deposits, and generate tax forms.
  5. Inventory management: Track inventory levels and set reorder points.
  6. Sales tax calculation: Automatically calculate and apply sales tax to transactions.
  7. Financial reporting: Generate customizable reports, such as profit and loss statements, balance sheets, and cash flow reports.

Is QuickBooks good for small businesses?

Yes, QuickBooks has been helping small business owners keep track of their finances for many years and is widely considered one of the best accounting solutions for small businesses. As mentioned above, QuickBooks helps you keep track of customers, vendors, employees, and inventory so you have a complete view of your business. You can also use it to generate reports, track expenses, and create budgets so you can make better decisions, reduce costs, and improve cash flow.

How much is QuickBooks for small business?

Intuit, the company behind QuickBooks, changes its pricing plans every few years, or so it seems. As of 2022, there are four plans you can choose from.

1. The Simple Start Plan is the most basic plan and costs $30 per month

2. The Essentials Plan includes more features and costs $55 per month

3. The Plus Plan is recommended for most small businesses it’s $85 per month

4. The Advanced Plan includes all features and costs $200 per month

How much is a 1-year subscription to QuickBooks?

The cost of a 1-year QuickBooks description depends on the features you need and the plan you choose. Plans range from $360 per year for the simple start plan and go all the way up to $2400 per year for the advanced plan. Most small business owners choose the plus plan, which includes most of the features that a small business accounting team needs. The plus plan costs $1020 per year.

Can I get QuickBooks for free?

Yes! Regardless of which plan you choose; you can try QuickBooks risk-free for 30 days. On the intuit website there is an option for a 30-day trial period. If QuickBooks isn't the right software for you, then you can cancel during that 30-days, and you won't be billed anything. That said, because of how powerful the QuickBooks software is, very few people end up canceling their plans after the trial period.

Also, QuickBooks is available free of charge to some Government agencies, and non-profit organizations. So, if you run a charity for example, then you may be able to get a copy of QuickBooks for free. To learn more about this be sure to get in touch with a customer service and sales agent on the QuickBooks website.

Is QuickBooks a one-time purchase?

QuickBooks offers both subscription-based and one-time purchase options. QuickBooks Online is a subscription-based service, with monthly fees depending on the version and number of users. QuickBooks Desktop, on the other hand, provides one-time purchase options for its Pro, Premier, and Enterprise versions. However, you may need to pay for upgrades and additional services, such as payroll and customer support, separately.

Can I still use QuickBooks after my subscription expires?

You can continue to use QuickBooks after your subscription expires, but you will only be able to use the most basic features. You will not be able to access reporting, inventory tracking, and other essential business management tools. Also, if you decide to continue using QuickBooks after your subscription expires, you will have to manually enter your financial data into the software. This can be very time-consuming and is not a good idea if you run a growing business with a lot of financial data.

Which is better: Excel or QuickBooks?

Excel and QuickBooks serve different purposes and have their advantages. Excel is a versatile spreadsheet software that can be used for various tasks, including basic financial management. However, it lacks the specialized features and automation that QuickBooks offers.

QuickBooks is designed specifically for managing business finances, making it more efficient and user-friendly for tasks like invoicing, expense tracking, and reporting. Moreover, QuickBooks integrates with various third-party apps and services, further streamlining your financial processes. Overall, QuickBooks is a more suitable choice for small businesses looking for a comprehensive and intuitive accounting solution.


QuickBooks is great, but it can’t do everything. If you want to extend the functionality of your accounting team, then you should consider getting LiveFlow as well. LiveFlow has a number of time-saving templates and features powerful tools, such as the new Live Budget vs Actuals tool. As such, the best solution for most small businesses will be a QuickBooks Plus Plan, and LiveFlow.

Best of all, new users can experience everything that LivFlow has to offer with a free 30-minute demo of the platform. So, if you want to optimize your small business accounting process, then be sure to try LiveFlow today. It’s the perfect partner to QuickBooks accounting software for small business.

Book a Demo to add LiveFlow to your accounting software for small business
Automate financial reporting with LiveFlow
Want to eliminate manual updates of your Excel & Google Sheets models?
Yes, show me how

Continue reading

Set your financial reporting on autopilot. Goodbye manual work.

Eliminate manual data entry and create customized dashboards with live data.