QuickBooks Self-Employed Review & Tutorial 2024

The best thing about QuickBooks’ pricing is that it’s transparent and affordable. Yes, QuickBooks Online offers good value for its price across all plans. Plans start at $20 per month, currently discounted to $10 for the first three months, and go up to $235 per month, currently discounted to $117.50 for the first three months. But with the right accounting or invoicing software for small businesses, filing tax information can be a simple and streamlined process. QuickBooks makes this process even easier thanks to a huge range of integrations and plug-ins you can use, with familiar names such as PayPal, Shopify, and MailChimp all present and accounted for.

QuickBooks Checking

If you think your business will grow into a medium to larger entity, you’re better off choosing Quickbooks Online. QuickBooks Self-Employed doesn’t allow customization (even on invoices), but the QuickBooks Online version does. Many apps integrate easily with QuickBooks Online, but not with the Self-Employed version. By providing feedback on how we can improve, you can earn gift cards and get early access to new features. The QuickBooks Solopreneur app is free to download from the QuickBooks website.

Key QuickBooks Self-Employed drawbacks

Freelancers with recurring clients who need a system for ongoing automated invoicing and international payments. QuickBooks Self Employed is an excellent option for handling finances as a freelancer or contractor, but not the only one. There are several other software solutions on the market that can quickbook self employed cost provide value to freelancers. QuickBooks Self Employed is a competent accounting solution, but that doesn’t guarantee it’s the right fit for your business.

Intuit QuickBooks Self-Employed

When you click on Quarterly, you see your quarterly tax schedule for the current year, with figures for both recommended payments and what you have already paid. If you have used Intuit QuickBooks Self-Employed in previous years, then you can view your historical data on this same page. The site also projects your annual profit based on your actual income and deductions to date. And, you can click a link to fill in your 1040-ES payment voucher that you can submit with your payment. The Transactions page is the heart of the Intuit QuickBooks Self-Employed experience.

The allowable expenses you can claim under Self Assessment must be for business use only and they vary depending on the business you’re in. You can read more about this in our blog, check out the list of allowable expenses on HMRC’s website or speak to an accountant. Take a look at our blog post understanding income tax for advice about expenses and completing Self Assessment. Our team can give you technical advice about downloading the figures you need from your QuickBooks account, but for other advice, https://milliescollections.com/topic-no-751-social-security-and-medicare/ please consult an accountant.

• You can send invoices, but you can’t customize them, set recurring invoices, or schedule automatic late payment reminders.
• For example, it brings a dedicated account manager, priority customer support, customer user permissions, and online training courses.
• Instead of fumbling for receipts or trying to brainstorm other items I was entitled to write off, I was able to easily provide all of my deduction data, which added up to be quite a substantial amount.
• This easy-to-use and feature-rich software is ideal if you have no bookkeeping experience and want top-notch customer support.
• Besides getting QuickBooks Self-Employed, we recommend these simple solutions to save you the most time while working for yourself.
• QuickBooks Solopreneur is a new and improved offering that helps address challenges faced by many self-employed businesses.

All your data is stored in QuickBooks’ cloud and you’ll be able to access it anywhere on any device. QuickBooks Desktop, on the other hand, is locally installed with a license pricing model. For a one-time fee (which is no longer publicly listed online, as of January 2025, but used to cost $50), QuickBooks Live Bookkeeping will set you up with an expert for one session. The custom price varies depending on the size of your business but starts at $300 per month. Formerly the Self-Employed plan, this is available for $20 per month (currently discounted to $10 per month for the first three months) – and supports a single user. We spend hours researching and evaluating each accounting software system we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings.

• It lets you track income and expenses, mileage to and from clients, and file your taxes with its QuickBooks Self Employed Quickbooks.
• And I must keep good records of my contacts and the financial applications I’ve covered.
• Users can also add QuickBooks Time Elite for $5/employee each month.
• You can even have the rule apply to past transactions, which is unusual in this class of applications.

After linking your accounts, you can customize your expense categories. You can create tags for different types of expenses, making it easier to run reports later. Industry-specific editions, inventory management, advanced reporting, job gym bookkeeping costing, priority customer service and more. If minimizing cost is a top priority, you can also see our list of the best free accounting software. We believe everyone should be able to make financial decisions with confidence.

You can also create a supplier database and generate purchase orders to help manage your accounts payable. Solopreneur automatically sorts your business and personal expenses for you, so your transactions are organized and ready for tax time. The tax filing capabilities included in QuickBooks Solopreneur are designed for ‘Schedule C’ (form 1040) filers, most commonly applicable to sole proprietors or single-member LLCs. If you need to customize your chart of accounts, QuickBooks Online Simple Start offers this capability.

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Help us to improve by providing some feedback on your experience today. After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Reviews for QuickBooks products are always a mixed bag, but the overall consensus is generally pretty positive. Here’s an overview of the features you can expect with QuickBooks Solopreneur. Besides getting QuickBooks Self-Employed, we recommend these simple solutions to save you the most time while working for yourself.

QuickBooks accounting products at a glance

QuickBooks Solopreneur is tax software with a few light bookkeeping tools added to the mix. Following its rebranding, QuickBooks Solopreneur has just a single pricing plan. While there aren’t many plans, the plan it does have is loaded with good freelance tools and is competitively priced, leading to our rating of 4.4/5 for pricing. Ideal for when you’re on the move, now you can capture receipts from your smartphone, categorize your expenses, and get paid faster with the ability to send invoices—all in one handy app.