With QuickBooks Online, you’ll be able to pay bills, send invoices, manage contractors and even more. It’s more expensive, but it comes with far more features than the rather bare-bones QuickBooks Self-Employed. While we like both QuickBooks Online and QuickBooks Self-Employed, for most businesses, QuickBooks Online is the better option. ![]() Since accountants and tax preparers charge an average fee of $192 to prepare a federal Schedule C tax return, these packages are in line with what you’d pay for outside support. In our opinion, it’s only worth it to pay for the tax bundles if you regularly use a CPA for filing your taxes. Adds on live CPA support and a final CPA review of your taxes. Self-Employed Live Tax Bundle: $40 per month (current promo is $20 monthly for the first three months).Adds on the ability to pay quarterly estimated taxes from QuickBooks and free state and federal tax return filing. Self-Employed Tax Bundle: $30 per month (current promo is $15 monthly for the first three months).Includes transaction/receipt import, Schedule C deductions, quarterly estimated tax calculation and automatic mileage tracking. Self-Employed: $20 per month (current promo is $10 monthly for the first three months).QuickBooks Self-Employed has one base plan as well as two tax bundle options if you don’t want to file your taxes on your own: Includes data sync with Excel, employee expenses, batch invoicing and much more. Advanced: $200 per month (current promo is $100 monthly for the first three months).Includes inventory and project profitability. Ups you to five users and unlimited sales channels. Plus: $90 per month (current promo is $45 monthly for the first three months).Increases you to three sales channels and three users. Essentials: $60 per month (current promo is $30 monthly for the first three months).Includes one sales channel, contractor payments, estimates and invoicing. Simple Start: $30 per month (current promo is $15 monthly for the first three months). ![]() Here’s how much the four QuickBooks Online plans cost: Invoicing in QuickBooks Self-Employed is relatively straightforward-though you may have to manually mark each one as paid unless you also use QuickBooks Payments.īoth versions of QuickBooks come with multiple plans with promo pricing for the first three months. And when the time comes, it’s easy to convert any estimate into an invoice. You can customize these estimates to fit your brand and business needs, as well as accept mobile signatures. Estimates and Invoicingīoth versions of QuickBooks let you send invoices-but Online is the only one that lets you send estimates. QuickBooks Self-Employed offers none of this, so if it seems like something your business would need, you’ll need QuickBooks Online. It sends you notifications when product levels are low and also lets you track the gross cost of goods. The revenue from each store is separate so you know where you’re profitable and where you’re not.Īs for inventory tracking, this feature is also available in the Plus plan. While you can only connect one online store in the base plan, the Plus plan lets you have unlimited storefronts. It can help you track sales tax on every invoice, which is especially helpful if you sell in different locations. QuickBooks Online surpasses QuickBooks Self-Employed in physical sales. Sales Tax Tracking, Inventory Tracking and E-Commerce Support Many freelancers just base them off of what they paid the previous year, or you can plug your income so far into a tax calculator. That said, estimating quarterly taxes is not exactly rocket science. QuickBooks Online does a lot of things, but calculating quarterly estimate taxes is not one of them. However, if you want to pay these taxes directly through QuickBooks, you’ll need to upgrade to a special tax prep plan. Not only that, but it also reminds you when payments are due. One of the selling points of QuickBooks Self-Employed is its ability to calculate your quarterly estimated taxes for you. We’ll go into deeper comparisons of these key differences below. While they both also feature mileage tracking and expense tracking, that’s about all the similarities they share. Unfortunately, you can’t do both electing for the trial will result in paying full price at the end of the 30-day period, or you can skip the free trial and pay 50% off for the first three months. (nullifies 50% discount on first three months)īoth services offer either introductory pricing or a free trial so you can test them out. $10 per month ($20 after first three months) ![]() ![]() $15 per month ($30 after first three months)
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