Ask the Accountant…
Question: I think QBO is very expensive. Can I use QB Solopreneur instead?
Answer: Short answer, no.
QuickBooks Solopreneur is designed for a service business, not for a wholesale sales business, especially one like ours where almost every order is customized to some degree.
As promotional products distributors, small or large, we need an accounting system that at the very least includes invoices for customers with sales tax capabilities, bills for suppliers and financial statements for our accountants.
QuickBooks Solopreneur includes some useful features, but it does not offer key accounting tools, such as a Chart of Accounts, a Balance Sheet, Purchase Orders, Bills, or Products and Services. Without these, it cannot provide a complete financial picture for a distributorship or support the level of order tracking and operational detail distributors require.
Please email accounting questions you would like considered for the column to [email protected] with the subject line of “Ask the Accountant”.
