Deciding between QuickBooks Self Employed and QuickBooks Online can be tough. This video provides a thorough comparison to help make the choice easier. Based on your business needs, selecting the right subscription is crucial. Additionally, integrating tools like InvoiceBerry can further streamline your invoicing and financial management.
Good stuff. I heard from someone else that you can't upgrade from QB Self-employeed" to "QB Online" so all your records don't transfer if you decide to start out as a contractor and decide to open a small company. I'll check with QB service rep tomorrow though.
What if you own a business and contract on the side? If one is taxed as a sole proprietor, is QuickBooks self-employed good if you don't want to pay for both?
Thank you for the video. I’ve been using self employed and realize I need to be on the regular Quick books. Can any of my information be transferred over to the regular quick books?
Hi Stephanie, this was really helpful but I have a couple of questions. I have been an IC for 2 yrs and using quickbooks self-employed but only to create invoices. I have just started my own business as a sole proprietor and think quickbooks online easy start would be better for me now. I have a business chequing account which I can add but have been using my personal credit card for start-up expenses (business CC should be arriving soon). How do I record the expenses from my personal CC if the accounts added should be business accounts? Is it possible to enter it manually? Also if I decide later once my business has grown that I want to upgrade to PLus, is that possible?
Can QB Free Accountant be used instead of the Self-Employed? I have noticed Self-Employed doesn't separated your Business or personal expenses. It joins everything together.
Very helpful! I sell on Poshmark and am going to register with my state as a sole proprietor business this month, get a business bank account, work with a cpa etc so this means I won't be a freelancer correct? I'm not planning on growing beyond just me and online retail with Posh or Mercari though so I'm a bit confused. I don't want to do anything that's overkill but want the best fit. I was going to try Quickbooks Self employed but now I'm thinking Quickbooks Online Simple Start. Thank you!
Hi Stephanie, this was extremely helpful but I do have a question. At the moment I'm waiting for approval for my business checking's account. But I have been doing all business through my personal bank account and credit card. I plan to get QuickBooks online because based on the info have you given me, is the category I fall under. My question is, because I don't have a business account yet and all my business transactions and personal are mixed together. Can I still purchase QB online and have it track all my info from my personal account to QB , and as soon as i get approved for my business account then edit my bank accounts on QB and add the business one?
I'm a physician. I just formed a single member LLC, but all of the income sources are the same 1099 inflow. I'm not sure which version to use because I am "self employed" but is it better to use the online version since I just formed an LLC? TIA!
@@stephanie-thacker Even as a single member LLC? I don't plan on hiring employees, there is no payroll, all income is from direct services that I provide, it's all 1099, so don't I function as an independent contractor despite the business designation? QBO seems more complicated than what I need, but I keep getting contradictory answers from different sources. Can you offer some education as to why you think QBO is better for a single member LLC?
@@Diablo2g I would still say yes because QBO will be ready if you do decide to grow and make hires, take out a loan, become an S-Corp etc. It does double-entry accounting and has a lot of additional features. However, you know your business best so if you don't plan on growing more than where you are right now, maybe QBSE is ok for you.
glad you asked the question....there seems to be a lot of grey areas with physicians who are independent contractors, and there's quite a bit of tax loophole advice being given here and there....but some seems very shady....QBSE estimating taxes seems great, but my wife's business advisor structured her LLC as single member S corp I believe w/ intent of being able to put our kids on payroll and such....then he flew the coop
Hi Stephanie, I started with Self Employed but recently started business. Will I be able switch to online, without losing data that I have entered? Or should that not matter because I just stated my business
i enroll in your course, you have mention about the business bank account, i have personal account which runs business only. is that will do? im only a sole trader, starting small business online arbitrage. Please help. thank you.
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Deciding between QuickBooks Self Employed and QuickBooks Online can be tough. This video provides a thorough comparison to help make the choice easier. Based on your business needs, selecting the right subscription is crucial. Additionally, integrating tools like InvoiceBerry can further streamline your invoicing and financial management.
This was so so so helpful! THANK YOU!
Amazing video
Good stuff. I heard from someone else that you can't upgrade from QB Self-employeed" to "QB Online" so all your records don't transfer if you decide to start out as a contractor and decide to open a small company. I'll check with QB service rep tomorrow though.
Thanks! That is correct. You can't upgrade from Quickbooks Self Employed to Quickbooks Online because they are two completely different products.
Very helpful. Gives me more insight and answered some questions to which program I should use for my business.
Wow. This was a great video. Loved everything about it.
Thanks so much!
excellent video!
What if you own a business and contract on the side? If one is taxed as a sole proprietor, is QuickBooks self-employed good if you don't want to pay for both?
Thank you for the video. I’ve been using self employed and realize I need to be on the regular Quick books. Can any of my information be transferred over to the regular quick books?
Hi Stephanie, this was really helpful but I have a couple of questions. I have been an IC for 2 yrs and using quickbooks self-employed but only to create invoices. I have just started my own business as a sole proprietor and think quickbooks online easy start would be better for me now. I have a business chequing account which I can add but have been using my personal credit card for start-up expenses (business CC should be arriving soon). How do I record the expenses from my personal CC if the accounts added should be business accounts? Is it possible to enter it manually? Also if I decide later once my business has grown that I want to upgrade to PLus, is that possible?
so for the MTD ITSA can I use quickbooks online or Quickbooks Self Employed as a self-employed?
Can QB Free Accountant be used instead of the Self-Employed? I have noticed Self-Employed doesn't separated your Business or personal expenses. It joins everything together.
Very helpful! I sell on Poshmark and am going to register with my state as a sole proprietor business this month, get a business bank account, work with a cpa etc so this means I won't be a freelancer correct? I'm not planning on growing beyond just me and online retail with Posh or Mercari though so I'm a bit confused. I don't want to do anything that's overkill but want the best fit. I was going to try Quickbooks Self employed but now I'm thinking Quickbooks Online Simple Start. Thank you!
How to you log donations?
So informative!!! Does Self employ version allow to merge Expsensfy data?
What is best for a LLC for trucking?
Hi Stephanie, this was extremely helpful but I do have a question. At the moment I'm waiting for approval for my business checking's account. But I have been doing all business through my personal bank account and credit card. I plan to get QuickBooks online because based on the info have you given me, is the category I fall under. My question is, because I don't have a business account yet and all my business transactions and personal are mixed together. Can I still purchase QB online and have it track all my info from my personal account to QB , and as soon as i get approved for my business account then edit my bank accounts on QB and add the business one?
I’m a reseller. Is online or self employed better????
Yes
I'm a physician. I just formed a single member LLC, but all of the income sources are the same 1099 inflow. I'm not sure which version to use because I am "self employed" but is it better to use the online version since I just formed an LLC? TIA!
Hi Kristel. I would definitely recommend Quickbooks Online vs. Self Employed. Please let me know if you have any further questions. :)
@@stephanie-thacker Even as a single member LLC? I don't plan on hiring employees, there is no payroll, all income is from direct services that I provide, it's all 1099, so don't I function as an independent contractor despite the business designation? QBO seems more complicated than what I need, but I keep getting contradictory answers from different sources. Can you offer some education as to why you think QBO is better for a single member LLC?
@@Diablo2g I would still say yes because QBO will be ready if you do decide to grow and make hires, take out a loan, become an S-Corp etc. It does double-entry accounting and has a lot of additional features. However, you know your business best so if you don't plan on growing more than where you are right now, maybe QBSE is ok for you.
glad you asked the question....there seems to be a lot of grey areas with physicians who are independent contractors, and there's quite a bit of tax loophole advice being given here and there....but some seems very shady....QBSE estimating taxes seems great, but my wife's business advisor structured her LLC as single member S corp I believe w/ intent of being able to put our kids on payroll and such....then he flew the coop
Hi Stephanie, I started with Self Employed but recently started business. Will I be able switch to online, without losing data that I have entered? Or should that not matter because I just stated my business
hello,
im doing online arbitrage, does it work as well?
i enroll in your course, you have mention about the business bank account, i have personal account which runs business only. is that will do? im only a sole trader, starting small business online arbitrage. Please help. thank you.
If you are a sole prop and are only using the account for business it should be fine. You don't want to mix business and personal though.