Item: QuickBooks Self-Employed
Rating: 8
Author: Ayo Bamgbose, Assoc CIPD, MSc

Use Cases and Deployment Scope

[I] research[ed] accounting software tools suitable for small business and Sole traders 4 years ago. After realising I needed a much faster and convenient way to start filing taxes [recording my expenses], I discovered QuickBooks [...]. I could no longer manage using the old school Excel sheets to manage my business outgoings and sales. I also was looking for a tool that allowed me to stay mobile with access to a mobile app.

Pros and Cons

Create, send invoices and track online payments made from to clients on the go.
Connect with your [online] business bank accounts so that it records all [transactions] and expenses making it easy to access accurate and current business data.
Access information for Self-assessment purposes - making it easy and faster to submit your taxes.
[For] those that drive as part of their business, Quickbook allows you to also [record] mileage and snapshot real receipts to save for your records.

Reconnecting business account - I find it annoying as I find that I have to constantly reconnect QuickBooks with my business account to ensure it keeps my business data correct and update.
The invoice design has its limitations - you can not create invoices on brand due to the basic areas of design.
It's not a scaleable accounting software as it's geared towards small businesses, so at some point, a successful business that is growing will need to find alternative accounting software that meets their medium to large business accounting needs.

Return on Investment

Save on time - QuickBooks, once all up and running and integrated with your business account, is it much easier to access the information required to submit Self-assessment taxes
No Accountant required - with its ease of use and management, there is no need to pay for an accountant as you can manage it yourself.
Affordable - the monthly cost and initial QuickBooks offer for new users make it cost-effective and long-term, will not break the bank.

Key Insights

Do you think QuickBooks Self-Employed delivers good value for the price?

Yes

Are you happy with QuickBooks Self-Employed's feature set?

Yes

Did QuickBooks Self-Employed live up to sales and marketing promises?

Yes

Did implementation of QuickBooks Self-Employed go as expected?

Yes

Would you buy QuickBooks Self-Employed again?

Yes

Other Software Used

Grammarly, Edmodo, Sage Business Cloud Accounting (formerly Sage One Accounting), LastPass for Business, MailerLite

Usability

One of the key things that QuickBooks does well is making it so easy to get started, set, and use the basic features to manage your online business. The desktop version makes it easier to get a lot more done, such as creating business categories and connecting your bank account. I have recommended QuickBooks to others, knowing they will not face any extreme difficulties using accounting software for their small business.

Support Rating

I have never faced any difficulties that required me to contact QuickBooks customer service. QuickBooks has plenty of online tutorials, blog posts, and helpful tips and advice for almost any issues you may face using the desktop or app version of the software. Even if you can not find the right answer on the QuickBooks webpages, there are loads of YouTube videos from experts.

Likelihood to Recommend

QuickBooks is a great tool for new SoleTraders that need basic accounting software and require digital invoicing for their clients to send via email and access key features via a mobile app on the go. QuickBooks is a straightforward tool to use with a simple design and learning curve for business owners that are not very tech-savvy.

For businesses that operate on a larger scale and need to provide access to other users on their team, QuickBooks is limited. This type of business may also require more insights into the business outside of accounting, and QuickBooks won't be able to supply insights outside of that.

The Accounting Software for SoleTraders and Small Business Start-ups

Overall Satisfaction with QuickBooks Self-Employed