2019 update: Intuit corporation announced retail rate increases for its QuickBooks products. The rates in this article are now out-of-date. Rates remain the same (for now) for subscriptions contracted through a ProAdvisor but may increase in the future. Once a subscription is started, the rate is ‘locked in’ for the life of the account.
This post explains my new standardized pricing for my QuickBooks Online services based on the underlying subscriptions starting at $20 or $50 per month.
This blog post of QuickBooks pricing pertains to small businesses or self-employed clients who are described by one of these five categories:
- Do not have an automated bookkeeping system
- Are self-employed, have part-time ‘gig’ work or run a small business
- Are using a bookkeeping system other than QuickBooks
- Are using QuickBooks system other than QuickBooks Plus, QuickBooks Essentials or QuickBooks Self-Employed
- Are usng QuickBooks Plus, QuickBooks Essentials or QuickBooks Self-Employed on a direct billing system directly with Intuit or a third party vendor other than through me.
QuickBooks is used by more than 8 out of 10 small businesses that use computerized accounting so naturally this is the logical starting point when we begin a conversation on this topic. QuickBooks is generally the lest expensive (if properly optimized) and most versatile choice. I do use and recommend other accounting systems in specific circumstances but those are not discussed here.
Intuit, the maker of QuickBooks, is known for using pricing promotions in their ongoing sales and marketing. These programs vary over time but ultimately return to standard pricing. Clients currently have a wide range of deals through me, through Intuit and through third parties that can be quite confusing and are sometimes inequitable. While it makes sense to take advantage of temporary promotional pricing offers, eventually we must adapt a stable long term pricing strategy. This new pricing policy is an attempt to simplify, standardize and make sense of the maze of QuickBooks pricing.
I can offer an attractive alternative to Intuit’s standard pricing by combining my own service with the QuickBooks subscription. He discount I can offer on the QuickBooks cost then offsets some or all of the cost of my service. The only question, then, is what price and term to set for the minimum combined QuickBooks subscription plus my service.
Beginning May 2018, I will offer an engagement for this purpose to include a QuickBooks subscription (any one of the three listed above) and my minimal service in setting up and maintaining this account. This does not include an engagement for my bookkeeping service or other accounting service. Details are included in a private engagement agreement, not in this blog post.
- The primary advantage of this pricing for QuickBooks service through a ProAdvisor (like me) is that pricing is locked in for the life of the account. This has proved to be a large savings over time as Intuit raised its direct bill prices. There is, at this time, no long term stable pricing agreement for my services or for QuickBooks subscription outside of this offer through a ProAdvisor.
- For self-employed clients using QuickBooks Self-employed is $240 annual paid in advance or $20 per month on ACH billing. This is $10 per month more than QuickBooks standard pricing for their service alone.
- For most other businesses using QuickBooks Plus the cost is $600 per year paid in advance or $50 per month on ACH billing. This is the same as QuickBooks standard pricing for their service alone.
- For businesses that might save a little by using QuickBooks Essentials the cost is is $500 annual paid in advance or $41 per month on ACH billing. This is $23.50 per month more than QuickBooks standard pricing for their service alone. I generally do not recommend this unless in the rare circumstance that you have no need for tracking inventory or accounting by lines of business, locations or projects and do not need to send 1099s.
- This blog post does not address pricing of other bookkeeping platforms or accounting services including business management integration systems except for the three QuickBooks services listed above. Those others should be addressed on a case-by-case basis.
- If your business does not use an automated bookkeeping system and I am later engaged for accounting or tax services, this basic fee will likely be added to the cost of the other services in the engagement agreement. No matter where in the process we begin it is always important to start with good bookkeeping records and this is the predominant platform to keep such records.