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Intuit QuickBooks Online Prices Going Up, Again

QuickBooks Online has long been the go-to accounting software for small businesses and self-employed individuals. Its user-friendly interface, robust features, and cloud-based accessibility have made it an invaluable tool for managing finances. However, as of late, many users are experiencing frequent price increases. So why is this happening and what are you supposed to do?


Explaining the Increases

Subscription

Pre-July 2022

July/August 2022

August 2023

2-Year Inc %

Simple Start

$25 / month

$30 / month

$30 / month

20%

Essentials

$50 / month

$55 / month

$60 / month

$20%

Plus

$80 / month

$85 / month

$90 / month

12.5%

Advanced

$180 / month

$200 / month

$200 / month

11.1%


Understanding the Need for Pricing Adjustments


Enhanced Features and Improved Performance. QuickBooks Online has continually evolved to meet the growing demands of businesses. The increased pricing structure reflects the added value in terms of:

  • Enhanced features – improved invoicing features and GL ledger user interfaces

  • Improved performance – faster processing and security

  • Advanced functionalities – additional app connections

These updates are designed to streamline your financial management processes, increase productivity, and provide a better user experience.


Expanding Infrastructure and Security. Maintaining a secure and reliable cloud-based infrastructure requires substantial investment. Intuit, the parent company of QuickBooks, must continually upgrade its servers, data centers, and security systems to protect user data from evolving threats. The increased pricing helps support these infrastructure investments, ensuring your financial information remains safe and accessible.


Customer Support and Service Quality. QuickBooks prides itself on providing exceptional customer support to its users. By adjusting the pricing plans, QuickBooks can continue to invest in knowledgeable and responsive support teams. This investment ensures that users have access to the guidance they need, addressing concerns promptly and offering reliable assistance whenever required.


Tips for Navigating the Changes


Evaluate Your Current Plan. Take the time to assess your current usage of QuickBooks Online and compare it with the features and capabilities of the new plans. Determine if you are making the most of your current plan or if upgrading to a higher tier will better align with your evolving business needs. Conversely, to the extent not all of the features of your current plan are being used, would it make sense to downgrade to a lower level tier?


Utilize the New Features. Review the additional features that come with the higher-tiered plans. Identify how these features can improve your workflow, increase efficiency, and save you valuable time. Consider the long-term benefits they offer to determine if the increased pricing is justified for your business.


Seek Alternatives


If the increased pricing doesn't align with your budget or if you feel that the added features are unnecessary for your business, it may be worth exploring alternative accounting software options. Research and compare different platforms to find the one that best suits your requirements and budget.


The outcome of this research may determine a need to change accounting software. While QuickBooks is a well known name, it has competitors that offer comparable features.

Consult with a QuickBooks ProAdvisor


Cassady Schiller is a QuickBooks ProAdvisor firm who can provide guidance tailored to your specific business needs. Consult with a ProAdvisor to discuss your concerns about the pricing changes and explore alternative solutions or plans that may better fit your requirements.


Conclusion


While the increased pricing of QuickBooks Online may initially cause some concern, it's important to understand the underlying reasons behind these adjustments. The enhancements in features, improved performance, and fortified security infrastructure are aimed at providing you with a better user experience and helping your business thrive. By evaluating your needs, utilizing the new features effectively, exploring alternatives, and seeking professional advice when necessary, you can navigate the changes and make informed decisions that align with your financial management requirements.

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