There are 3 important QuickBooks Online Add-ons that may be important to the way you manage your business with QuickBooks Online. This article will discuss these QuickBooks Online add ons and will provide you with information that you should consider to make an informed business decision. This article will inform you of the additional expenses that may not be apparent when considering the purchase of QuickBooks Online.
Currently, Intuit offers three QuickBooks Online products. These products are QuickBooks Online -free, QuickBooks Online Basic, and QuickBooks Online Plus. Please refer to my other articles that review the features of QuickBooks Online Basic and QuickBooks Online Plus.
Add-On for Credit Card Sales From Customers - To process,approve and record credit card sales you need to purchase QuickBooks Online Merchant. Accepting Visa, MasterCard, American Express and other credit card types can attract new customers, help you get paid faster, and save you time in collecting payments. This ability to accept credit card payments is called a merchant account service. With the QuickBooks Online Merchant account, you are able to authorize and process credit card transactions with either QuickBooks Online Basic or QuickBooks Online Plus. This credit card add-on, processes and records payments from customers, in real time, thereby eliminating the need to manually record credit card sales in your QuickBooks. For this add-on, there is a onetime set up fee of $59.95 and a monthly fee of $19.95, along with standard authorization and credit card fees. If you are able to purchase this from a Certified QuickBooks ProAdvisor there are substantial discounts available for these services.
A cost saving aspect is that the use of QuickBooks Online Merchant does save you money because you do not need to lease phone lines and lease terminal hardware or software. It is also important to note that for in store credit card sales, a merchant service card reader does not work and the use of a credit card reader requires QuickBooks desktop software, 2002 or higher. Intuit designed their online product so you do not have to use a credit card reader. The alternative is not that bad, you have to manually type in the credit card number and enter the customer sale information typically included in an invoice. In a few moments, you are informed if the customer payment is approved or declined by the credit card company. (For example, the other day when I was in a major department store, and they manually inserted my credit card for the credit card imprint into a manual credit card reader,so even large national department stores still have manual processes.)
Payroll Add On- If you have employees including yourself, then you need to have a payroll package or add-on. Intuit, sells a payroll add-on for QuickBooks Online separately and is not included with either QuickBooks Basic or QuickBooks Plus. Intuit sells the following online and payroll products as of the date of this article (a) QuickBooks Online Basic ($9.95 monthly) and payroll ($9.95 monthly) and (b) QuickBooks Online Plus ($34.95 monthly) and payroll ($9.95 monthly),sometimes Intuit offers a 20% discount for Plus version.If you purchase QuickBooks Online Plus from a Certified QuickBooks ProAdvisor there is another 20% discount available to you bringing the total discount to 40%. QuickBooks ProAdvisor discount pricing maybe subject to change.
Inventory Add On- Generally speaking, neither QuickBooks Online Basic nor QuickBooks Online Plus offers an inventory accounting package. Some companies keep their inventories in Excel and record inventory amounts monthly in QuickBooks Online. Alternatively, you can purchase inventory add-ons such as OE Companion which offers inventory accounting with a 30 day free trial or you can obtain inventory add-ons from the Intuit Market Place by going to the Intuit website. I have not reviewed any of these add-ons and make no representations or warranties as to their compatibility, effectiveness and suitability for your needs. On a plus note, Intuit is working on an inventory add on.
This article was written to provide information to a purchaser of QuickBooks Online. The article is introductory and does not attempt to assess your specific business needs. As is the case for any purchase of hardware or software, professional analysis should be undertaken to carefully evaluate your business needs by your accountant, CPA, or a Certified QuickBooks ProAdvisor prior to purchasing any add-on or any software application. - 30544
Currently, Intuit offers three QuickBooks Online products. These products are QuickBooks Online -free, QuickBooks Online Basic, and QuickBooks Online Plus. Please refer to my other articles that review the features of QuickBooks Online Basic and QuickBooks Online Plus.
Add-On for Credit Card Sales From Customers - To process,approve and record credit card sales you need to purchase QuickBooks Online Merchant. Accepting Visa, MasterCard, American Express and other credit card types can attract new customers, help you get paid faster, and save you time in collecting payments. This ability to accept credit card payments is called a merchant account service. With the QuickBooks Online Merchant account, you are able to authorize and process credit card transactions with either QuickBooks Online Basic or QuickBooks Online Plus. This credit card add-on, processes and records payments from customers, in real time, thereby eliminating the need to manually record credit card sales in your QuickBooks. For this add-on, there is a onetime set up fee of $59.95 and a monthly fee of $19.95, along with standard authorization and credit card fees. If you are able to purchase this from a Certified QuickBooks ProAdvisor there are substantial discounts available for these services.
A cost saving aspect is that the use of QuickBooks Online Merchant does save you money because you do not need to lease phone lines and lease terminal hardware or software. It is also important to note that for in store credit card sales, a merchant service card reader does not work and the use of a credit card reader requires QuickBooks desktop software, 2002 or higher. Intuit designed their online product so you do not have to use a credit card reader. The alternative is not that bad, you have to manually type in the credit card number and enter the customer sale information typically included in an invoice. In a few moments, you are informed if the customer payment is approved or declined by the credit card company. (For example, the other day when I was in a major department store, and they manually inserted my credit card for the credit card imprint into a manual credit card reader,so even large national department stores still have manual processes.)
Payroll Add On- If you have employees including yourself, then you need to have a payroll package or add-on. Intuit, sells a payroll add-on for QuickBooks Online separately and is not included with either QuickBooks Basic or QuickBooks Plus. Intuit sells the following online and payroll products as of the date of this article (a) QuickBooks Online Basic ($9.95 monthly) and payroll ($9.95 monthly) and (b) QuickBooks Online Plus ($34.95 monthly) and payroll ($9.95 monthly),sometimes Intuit offers a 20% discount for Plus version.If you purchase QuickBooks Online Plus from a Certified QuickBooks ProAdvisor there is another 20% discount available to you bringing the total discount to 40%. QuickBooks ProAdvisor discount pricing maybe subject to change.
Inventory Add On- Generally speaking, neither QuickBooks Online Basic nor QuickBooks Online Plus offers an inventory accounting package. Some companies keep their inventories in Excel and record inventory amounts monthly in QuickBooks Online. Alternatively, you can purchase inventory add-ons such as OE Companion which offers inventory accounting with a 30 day free trial or you can obtain inventory add-ons from the Intuit Market Place by going to the Intuit website. I have not reviewed any of these add-ons and make no representations or warranties as to their compatibility, effectiveness and suitability for your needs. On a plus note, Intuit is working on an inventory add on.
This article was written to provide information to a purchaser of QuickBooks Online. The article is introductory and does not attempt to assess your specific business needs. As is the case for any purchase of hardware or software, professional analysis should be undertaken to carefully evaluate your business needs by your accountant, CPA, or a Certified QuickBooks ProAdvisor prior to purchasing any add-on or any software application. - 30544
About the Author:
Sandor Lenner,CPA-MBA has been providing accounting services for over 35 years. He is a Certified QuickBooks ProAdvisor and offers discounted QuickBooks software. QuickBooks Online Edition " Starting as low as $9.95 a month. Subscribe to my free monthly newsletter. I will not share your email address with anyone.
