Upgrading your QuickBooks Online subscription is a great way to access more features and better manage your small business finances. With different pricing tiers available, you can choose the plan that offers the perfect balance of tools tailored to your needs. Upgrading is also quite easy to do on your own in just a few quick steps.
When to Consider Upgrading QuickBooks Online
As your business grows, you may find yourself needing more users, advanced reporting, or options for inventory and bill pay. If your current QuickBooks Online plan no longer meets your requirements, it’s likely time to upgrade.
Some signs your business has outgrown your existing subscription and requires an upgrade QuickBooks Online include:
- Reaching the user limit - If you need to add more than the maximum users allowed on your current plan
- Insufficient reporting - If you need to run more in-depth reports or add more customizations
- Lacking key integrations - If you need to connect additional apps beyond what your plan supports
- Manual processes remain - If you have to do things like enter bills or track inventory outside of QuickBooks
Upgrading removes these limits so you can get the most value from the software.
Overview of QuickBooks Online Plans
There are three pricing tiers for QuickBooks Online, each building on the features of the previous plan.
QuickBooks Online Essentials
This covers the basics for very small businesses, including:
- Track income and expenses
- Invoicing
- Tracking payables
- Mobile app
- 1 user
QuickBooks Online Plus
Adds capabilities like:
- 5 users
- Time tracking
- The ability to set permissions
- 1099 contractor payments
- More detailed reports
QuickBooks Online Advanced
The most robust plan for bigger companies, Additional features consist of:
- Up to 25 users
- Advanced reporting with up to 25 custom reports
- Inventory tracking
- Sales orders and purchase orders
- Bill pay
- Advanced pricing options
Most growing companies will eventually upgrade to either Plus or Advanced.
How to Upgrade QuickBooks Online
Upgrading your QuickBooks Online subscription is straightforward to do on your own through your account. Here are the key steps:
- Log in to your QuickBooks Online account
- Click the gear icon in the upper right and go to Account Settings
- Select Change my plan under Plan & Billing details
- Choose the upgraded plan you want to switch to
- Pick your desired upgrade options like added users or advanced reporting
- Enter payment information if charges beyond your current plan apply
- Confirm the upgrade
After going through these simple screens, your QuickBooks Online account will update to the upgraded subscription level almost instantly.
For most upgrades, Intuit allows you to retain the unused portion of your current billing cycle to credit towards the upgraded plan charges. So you essentially just pay the difference.
Also note that downgrading requires contacting Intuit support directly if you ever decide a less expensive plan better meets your business needs later on. But upgrading on your own through Account Settings is quick and efficient.
Key Benefits of Upgrading QuickBooks Online
Some of the major benefits you can expect after upgrading include:
More efficient workflows
With upgraded features like inventory management or bill pay, you’ll spend less time on manual processes.
Better reporting
Gain insights with custom reports that let you analyze sales, profits, budget vs. actuals, and more tailored specifically to your business.
Improved productivity
Get more users than your previous plan allowed so your whole team can securely access QuickBooks Online to drive productivity.
Enhanced scalability
Allow for small business growth on a robust platform built to scale using advanced capabilities like sales orders, purchase orders, and advanced pricing rule
By upgrading your QuickBooks Online subscription as your business needs evolve, you can get precisely the right set of features to support continued success as you expand.
With clear upgrade paths and the ability to switch plans yourself anytime through Account Settings, it’s simple to keep your QuickBooks capabilities aligned to your growing business needs.
