What You Need To Know In Quickbooks Online Price Increase

Quickbooks online just sent out a mass email to all its current customers letting them know that there is a price increase of $10 per month on their current subscription. Here’s what inside that price increase.

The price increase will be for the subscriptions for Essentials, Plus, and Advanced products will be increasing in an upcoming billing cycle. You will receive a billing notification with all account details before your August billing date.

Why are prices changing

News like this is never easy, but these changes are necessary for Quickbooks to deliver innovative products and services. They know how hard you work, especially in a challenging economy. Your resilience helps them understand what you need to make smart money decisions, run your business, and take care of you and your team. This price increase will ensure that they are able to continue delivering unrivaled benefits that help your business grow.

Why is QuickBooks raising its prices?

Supporting the needs of small business owners and mid-market customers, especially in the face of shifting and changing markets, is Quickbook’s singular focus. To do this, innovation is key. New products, reports, tools, features, and functionality drive how Quickbooks support the efforts of small businesses. Periodic price increases make sure they continue to deliver the product that best meets your needs. Not just for today, but for many years to come.

Why now, when business owners have just been through a tough year with COVID-19?

They understand this year has been difficult. They are adjusting QuickBooks Online prices for the first time since 2019 (and QuickBooks Online Advanced for the first time since it was introduced in 2018) to align with the market and so they can continue to invest in the product.

Which QuickBooks Online product prices are changing?

This price change affects selected QuickBooks products, namely Essentials, Plus and Advanced.

What extra value am I getting for the price increase? Are they introducing new features?

Yes. They really don’t stop innovating. Users like us continue to provide incredible feedback and insights which have informed Quickbooks latest updates for Essentials, Plus and Advanced, including,

  • QB Cash (Debit card, Envelopes & Planner) – A small business bank account that earns high interest, speeds up money movement and automatically tracks finances in QuickBooks. Account opening is subject to identity verification by Green Dot Bank.
  • Online Bill Pay – Pay your bills directly from QuickBooks Online using Online Bill Pay (powered by Bill.com). Subject to additional terms, and fees.
  • Tagging – Tag transactions to give you better, more specific business insights from QuickBooks Online.
  • Time Tracking – Convenience to create, review and edit timesheet data to use in QuickBooks Online workflows, such as invoicing, payroll, and job costing.
  • Cash Flow Center – Forecast finances, sync all your accounts, see credit card and loan balances, and even open a checking account built right in QuickBooks.
  • Redesigned mobile app to help get work done faster on the go, with improvements to mileage tracking and receipt capture and match.
  • New Search Widget enables type-ahead searches; searches by telephone number, address, tags and information entered in memo fields; multi-criteria search; saves most recent searches and allows customers to navigate directly to action centers (i.e., create expense, create invoice, create bill).
  • And several other features to help you save time, get organized and run your business from anywhere.

The above, as well as additional Advanced specific features and apps:

  • Performance Center automated and customizable dashboards
  • Custom report builder
  • Workflows automated approvals and reminders
  • Tasks delegation and tracking
  • Preset custom roles
  • Batch transactions for invoicing and expensing
  • Online backup and restore
  • Docusign, Hubspot, Bill.com and Salesforce connector premium app (additional fees may apply)

Note: Our QuickBooks Innovation Blog is a great source of features to include in our FAQ.

What if I don’t use those features?

They really do understand that not all businesses have the same needs at the same time as others, and while some businesses may not use features, growth and change may find them using features down the road. They’re constantly evaluating feedback they receive from business owners and design plans around what makes the most sense for managing and running a business. With QuickBooks, you can change plans at any time. Review QuickBooks Online planning and pricing to make sure you have the right plan for your small business.