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There are three QuickBooks Online Add-ons that are important to the way you operate and manage your business. This article will discuss three QuickBooks Online add-ons and will provide you with information that you need to consider in order to make an informed business decision about purchasing QuickBooks Online. This article will inform you of some additional expenses that otherwise may not be clear to you prior to buying QuickBooks Online.

Intuit, the manufacturer of QuickBooks offers three QuickBooks Online products. The products offered by Intuit, are QuickBooks Online – a free product, QuickBooks Online Basic, and QuickBooks Online Plus. Please refer to my other articles that compare the features of QuickBooks Online Basic with QuickBooks Online Plus.

Add-On for Credit Card Sales- For approving, processing, and recording credit card sales QuickBooks Online Merchant is required. By using MasterCard, Visa, American Express and other credit card types you can attract new customers, help you get paid quicker, and reduce your time in collecting payments, thus reducing collection risk from customers. These capabilities to accept credit card payments are called merchant account services. With a QuickBooks Online Merchant account, you can authorize and process credit card transactions with either QB Online Basic or QB Online Plus. The add-on ability to process & record payments from your customers, eliminates the need to manually record after-the-fact credit card sales in your QuickBooks. For this add-on, there is a onetime set up fee of $59.95 and a monthly fee of $19.95, along with standard authorization fees and credit card sales you need to purchase QuickBooks Online Merchant. When purchasing from a Certified QuickBooks ProAdvisor there are substantial discounts available to you for these services.

On the plus side, the use of QuickBooks Online Merchant does save you money because you do not need to lease phone lines and lease terminal hardware or software. It is also important to note that for in store credit card sales, a merchant service card reader does not work and the use of a credit card reader requires QB desktop software, 2002 or higher. Intuit designed their product so you do not have to use a credit card reader. The alternative is not that bad, you have to manually type in the credit card number and enter the customer sale information typically included in an invoice. A few seconds later, you are informed if the customer payment is approved by the credit card company. (Even some national department stores still have manual processes. Yesterday, I was in a national department store, and they took my credit card and manually inserted the card for the credit card imprint.)

Payroll Add On- If you have employees including yourself, then you need to have a payroll package or add-on. Intuit, sells a payroll add-on for QuickBooks Online separately and is not included with either QuickBooks Basic or QuickBooks Plus. Intuit sells the following online and payroll products as of the date of this article (a) QuickBooks Online Basic ($9.95 monthly) and payroll ($9.95 monthly) and (b) QuickBooks Online Plus ($34.95 monthly) and payroll ($9.95 monthly),sometimes Intuit offers a 20% discount for Plus version.If you purchase QB Online Plus from a Certified QuickBooks ProAdvisor there is another 20% discount available to you bringing the total discount to 40%. QuickBooks ProAdvisor discount pricing maybe subject to change.

Inventory Add On- Generally speaking, neither QuickBooks Online Basic nor QuickBooks Online Plus offers an inventory accounting package. Some companies keep their inventories in Excel and record inventory amounts monthly in QuickBooks Online. Alternatively, you can purchase inventory add-ons such as OE Companion which offers inventory accounting with a 30 day free trial or you can obtain inventory add-ons from the Intuit Market Place by going to the Intuit website. I have not reviewed any of these add-ons and make no representations or warranties as to their compatibility, effectiveness and suitability for your needs. On a plus note, Intuit is working on an inventory add on.

This article was written for the purpose of providing information to any prospective purchaser of QuickBooks Online. The article is introductory and does not attempt to assess your specific business needs. Diligence should be undertaken to carefully evaluate your particular needs by either your accountant, CPA, or a Certified QuickBooks ProAdvisor before you purchase any software application or add-on.

Sandor Lenner,CPA-MBA has provided small business accounting services for 35 years. He is a Certified QuickBooks ProAdvisor and offers discounted QuickBooks software. QuickBooks Online Edition ” Starting as low as $9.95 a month. Subscribe to my free monthly newsletter. I will not share your email address with anyone.

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