QuickBooks 2016: more changes to the CPA's favorite software.

• Author: Eisen, Ilene
• Position: Software overview

QuickBooks is an amazing program and online service. And like all such programs, tweaks and modifications are to be expected. This article will explore changes to QuickBooks Online, QuickBooks desktop products and the QuickBooks Pro-Advisor Program for accountants and bookkeepers.

QuickBooks Online

QuickBooks online products command the bulk of Intuit advertising and dominate the QuickBooks websites. QuickBooks Online, developed by a separate team at Intuit, is quite different from the desktop versions in that it's designed to take advantage of applications (apps.intuit.com) from Intuit and other publishers. This, however, means it has less functionality due to the focus on the ability to integrate with apps that meet your specific needs.

New QuickBooks Self-Employed

QuickBooks Self-Employed Online (quickbooks.intuit.com/self-employed) is designed for independent contractors, consultants and solo businesses that do not have employees and file a Schedule C. This version targets small business that have not segregated personal from business expenses, and allows them to identify business expenses.

Entering transactions is easily done by connecting bank accounts and credit cards to import transactions, or you can enter transactions manually. Each transaction is identified as a business or personal expense.

Business transactions are categorized by business income or a pre-defined category list of IRS allowable Schedule C expenses. Reports are limited to Profit & Loss, Tax Summary and Tax Details. This version is limited, but meets the needs of businesses that just want to get the most basic information to run their business and file a Schedule C.

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New QuickBooks Self-Employed Tax Bundle

QuickBooks Self-Employed Tax Bundle (quickbooks.intuit.com/self-employed) extends the functionality of the QuickBooks SelfEmployed product and helps manage tax obligations and import annual tax information into Turbo Tax Schedule C.

QuickBooks Simple Start, Essentials, Plus

In the past year there have been many small changes that improve the service's speed and functionality. There also are many new apps that integrate with QuickBooks Online. QuickBooks Online comes in three flavors: Simple Start, Essentials and Plus (quickbooks.intuit.com/pricing). The versions help the user purchase the functionality that is needed for a particular situation, and reduces cost for functionality that is not necessary for a given situation.

New for 2016

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