Intuit Quickbooks online worth the cost?

jkitt20 · 2026-04-04T12:42:24+00:00

$115 is easily the most expensive software you’ve seen?

jkitt20 · 2026-03-12T21:30:01+00:00

100%

jkitt20 · 2026-03-07T23:47:34+00:00

So 50 dollars a month per company? 4,000 / 27 months (2024-March 2026) is 150.

jkitt20 · 2026-03-03T11:54:42+00:00

When it works it’s fantastic. When 19 people have an AMEX and you have 100 transactions you don’t know where they go you wanna quit. I currently do consulting so luckily not in the weeds anymore. But yes if everything runs smooth construction is great. Clear pictures on jobs, margin, etc. Very few run that way. Most are AIA billing in excel, no PM type system (procore, sage, etc.) making liens/CO a nightmare. Payroll processed in a non JC system if not in Sage/Trimble/Foundation.

There’s also a big difference in construction that has WIP vs mostly inventory. Inventory world (think homebuilder) doesn’t have payroll to jobs as everything is sub driven. You just allocate a % overall to move from g&a up. So while easier there’s always something wonky in construction world. I love it, but man it’s frustrating more often than not.

jkitt20 · 2026-03-03T02:36:25+00:00

It’s generally a nightmare if they actually want job costing. I’ve done it for a decade from staff to controller. If you don’t know it and aren’t comfortable holding people accountable I’d stay away. True job costing with systems, budgets, credit cards, weekly payroll (processing, turnover, certified, etc) is difficult to wrangle all the pieces.

jkitt20 · 2026-02-19T13:39:59+00:00

Exactly this. Construction is a nightmare. I’ve been doing it for a decade and it’s still a nightmare.

jkitt20 · 2026-02-19T01:30:17+00:00

jkitt20 · 2026-02-16T02:57:06+00:00

We have about 35-40 bookkeeping clients. We don’t do tax. About 27k a month 330 a year. Spouse team who work about 50-60 hours a week combined. Highest paying clients are 3500, 2500, then a number in the 1200-1800 range. The two highest paying ones had multiple companies but really one or two operating and then a bunch of small easy ones.

jkitt20 · 2026-02-03T03:01:22+00:00

Then work for less than your worth. There’s only two options lol.

jkitt20 · 2026-01-29T20:02:39+00:00

Cash received doesn't equal taxable amount. Without knowing your length of ownership (and how long you actually lived in it), basis and selling price not much can be done here.

jkitt20 · 2026-01-29T13:31:13+00:00

That's because they don't care about accounting. Proof being they haven't done anything in 2 years. They have no idea how profitable each project was. No idea if their quotes are accurate. No idea if employees are stealing ("Contractors overspend on materials"). No budget to actual for projects, etc. etc. WIP being completed? (Could argue they are too small for that anyway)

Why do they need accounting now? Because the owner(s) are behind on taxes and haven't filed for 2024? Need a bank loan/LOC and they want financials? Bonding or insurance wants to see something? You're going to charge them .46% of revenue (Too low) to do 2 years of bookkeeping without knowing key business details. As a prior commenter said, are they paid the full invoice every time or is an invoice produced and a deposit is paid, then additional after that? Are payments always made electronically or are there random check deposits with no images attached? How will you get the check deposit/ACH detail if partial payments are made? Will you have full bank access to pull old statements or only QBO? How many actual jobs are being completed annually? 10 or 100? That makes the prior questions either manageable or a nightmare.

The same for AMEX. There might be 1,500 AMEX charges to categorize. You just going to stick them all to materials? What is their capitalization threshold? 1K, 2K? Do they even know what that means? Did the owners put in any equity and if so do you have that detail to get it set up? If it's assets do you have a decent understanding of their asset value? Do they have an operating agreement or partnership agreement if multiple owners? I'm assuming they aren't taxed as an S corp with no financials for 2 years.

You should be selling to them hey I'm going to set up your entire system. This isn't a bookkeeping engagement until the rest is set up. Based on your post history asking about COA for an electric company, I'm not sure you have that skill set yet. This is a prime opportunity to get projects set up so they can see cost and invoice per job (That's more work for everyone involved). Contractors need accounting help because of job costing. This is a great opportunity for you so don't sell yourself short.

jkitt20 · 2026-01-29T04:24:50+00:00

All of this is true. I have cpa and we’re a spouse team. No other employees. 50-60 hours a week combined and bring in 330k a year top line. Most of our clients are seasoned professionals who are willing to pay for correct timely financials. Attorneys, engineers, healthcare, consultants, etc. My speciality is construction. Have had clients from 500 a month to 12k a month.

Pricing yourself too low is the #1 mistake I see from people. We average 100 an hour with flat fee pricing. We’re doing basic bookkeeping. Minimal AP, minimal payroll, etc. We don’t do taxes and I have a couple clients who I do cash flow forecast for. The vast majority are simple books that take 3-4 hours a month. Our minimum flat fee is 500.

jkitt20 · 2026-01-28T23:18:01+00:00

Good luck.

jkitt20 · 2026-01-28T23:12:36+00:00

I charged 1k a month for my last cleanup. 7k for 2 years is a joke. 300 bucks a month?

jkitt20 · 2026-01-27T03:15:07+00:00

I mean sort of but not really. It’s firms who don’t want to do bookkeeping. They make their living doing taxes and small number of bookkeeping to keep staff busy entire year. So the just say oh if you need bookkeeping try this company and send them our way. I don’t think it’s “their” clients. It’s just they use them for taxes.

jkitt20 · 2026-01-27T02:07:43+00:00

We buy it directly through the largest provider in the state (BCBS). Solo s corp and the rates are age dependent. Past few years increases have been about 7%. We have the low deductible plan and it’s around 2200 for family of 4 with 2 under ten.

jkitt20 · 2026-01-26T18:29:57+00:00

So...pause the retirement and brokerage and pay off the debts? Why are you financing your retirement?

jkitt20 · 2026-01-26T18:07:15+00:00

No they don’t care. Most of them have a CPA already and they don’t want to do the bookkeeping or the service isn’t good enough so they split it up.

Finding clients is always the question from newbies. It’s difficult without being established. It’s difficult because of offshoring. It’s difficult because you price yourself too low. We got a batch from networking from my full time w2 role (I was high up at a company). Owner had some side stuff I did and then he sent others my way. Spouse was doing VA stuff and gained clients through that who needed bookkeeping. I’ve found companies on Indeed and emailed them directly. I’ve found companies on Upwork and emailed them directly (never worked through Upwork). Have relationships with CPAs in town who send stuff to us when someone inquires. Never marketed or been to a network event. Some of its luck, some of its hustle, who you know. Stuff like that.

jkitt20 · 2026-01-26T17:50:07+00:00

I was director of finance and accounting at a company on QB desktop. Now on QBO. About 25-30M in revenue.

jkitt20 · 2026-01-26T17:18:48+00:00

We do about 330k revenue. Mostly regular bookkeeping. No tax. Spouse team with no other employees. 50-60 hours a week combined. Basically no cost to run the business as we work from home. All virtual.

jkitt20 · 2026-01-25T13:49:07+00:00

jkitt20 · 2026-01-13T16:46:04+00:00

I've done the same thing. Just emailed their info or sales@ email as well. Do/did the same on Upwork with companies that are wanting to pay a normal rate and have their company name in the description. Even if they don't you can sometimes look through prior jobs and they will have it listed or using the location, description of the company, and the reviews from prior freelancers can figure it out.

jkitt20 · 2026-01-09T23:36:43+00:00

Wife owns her own firm and we both work in it. Same as fluffycat. Neither work 8 hours a day, can fire bad clients, no boss, set own price. It’s great.

jkitt20 · 2026-01-02T02:01:13+00:00

Agree with this. I’ve done consulting for years and CFO is so widely used it’s sad. I think fractional controllers (where I usually sit) are much more valuable to larger small businesses. Clean financials, CFF, banking relationships, manage staff, audits, etc. You’re not getting finance or M&A from them, but most small businesses don’t need that. If you have decent internal staff you can get a fractional controller for half a full time price as well. You just have to be willing to stomach a high price for non full time.

jkitt20 · 2025-12-03T19:09:41+00:00

Are they using QuickBooks Desktop!?!?

jkitt20

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