The most notable difference, aside from price, between QuickBooks Online and QuickBooks Desktop is the Online version is cloud-based. $45 per month ($22.50 per month for the first three months during the current promotion) Starts at $50, plus $2 per employee, per month $30 per month ($15 per month for the first three months during the current promotion)įor an additional fee per user, up to 40 users Features include mileage tracking, basic reporting, income and expense tracking, capture and organize receipts and estimation of quarterly taxes.įor an extra $50, sign up for a one-time live Bookkeeping setup with any of its plans. If you’re a freelancer, stick with its Self-Employed plan, which is $15 per month 9after the three-month discount at $7.50). It includes up to 25 users, business analytics and insights, manage employee expenses, customize access by role, exclusive app integrations, a dedicated account team, on-demand online training, automate processes and tasks and restore company data from backups. Its highest-tiered plan is the Advanced option, which costs $100 per month for the first three months, then $200 per month after that. Upgrade to Plus for $42.50 per month for the first three months, then $85 per month afterward, and you will receive access for up to five users, inventory tracking and the ability to track project profitability. For one user, pay $15 per month for the first three months, then $30 per month thereafter for its Simple Start plan.įor $27.50 per month for the first three months, then $55 per month after that, get up to three users, manage and pay bills and track time with its Essentials plan, which is its most popular plan. Wave’s payment processor rate is 2.9% + $.30 per transaction, while QuickBooks Payments charges 2.5% + $.25 per transaction.With QuickBooks Online, track income and expenses, send invoices, accept payments, get the most tax deductions, track sales and sales tax, upload and categorize receipts, manage 1099 contractors, run reports, track mileage and send estimates. One area where Wave does have an advantage is credit card payment processors. All in all, there are nearly 300 add-on and integration software programs available for QuickBooks users, but less than 10 applications for Wave users. These include Method CRM, Intuit’s customer management software, as well as Agiliron, an integrated customer management, inventory management and point of sale program. QuickBooks offers businesses significantly more in the way of add-ons and integrated programs. Wave also has limited inventory analysis compared to QuickBooks, making it less useful for companies that market products, as opposed to service-oriented companies. These include crucial features such as project cost accounting, purchase order management and integrated tax management.įor example, many users consider Wave’s lack of ability to analyze the effectiveness of individual projects through project cost accounting to be a major weakness. One of the primary advantages of QuickBooks is the many extra features. QuickBooks Online offers free support via email, chat or phone, while Wave users must pay $19.99 a month to have access to support quickly via chat or phone. While both accounting software programs are easy to use, QuickBooks offers an advantage for users who require regular support. Support is another differentiating factor between the two programs. Another major difference that affects many Canadian businesses is that QuickBooks is available in both French and English, while Wave is only available in English. While QuickBooks is supported by more than 600 software application partners, Wave has less than 20 connected apps.Īn additional difference to note is that QuickBooks offers both cash basis accounting and accrual accounting, however, Wave offers only accrual accounting. In contrast, Wave requires separate apps for separate tasks.Īs well, app support is a major difference between the two programs. QuickBooks’ cloud accounting is more easily accessible, since a single app supports both Android and IOS devices. QuickBooks Online and Wave both offer cloud-based bookkeeping and accounting services.
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