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ZipBooks makes it easy for small businesses to manage their finances, including invoicing and human resources. Their website takes you through a step-by-step process of how to use the service with free templates that are customizable for your business needs. They offer pricing on an annual basis so you can evaluate which package is right for you.
The “zipbooks review reddit” is a blog that reviews and rates the latest financial software. This blog has been around for over 10 years, and it is one of the most well-known finance blogs on the internet.
ZipBooks is a cloud-based accounting software that enables you to properly balance your books, get paid quicker, and make educated business choices by providing actionable insights. Cash and accrual accounting, invoicing and billing, financial reporting, and other functions are included. ZipBooks has a free plan as well as three premium memberships starting at $15 per month.
ZipBooks is a great place to start.
ZipBooks is a program that we recommend for a variety of reasons.
ZipBooks is an exceptionally easy and economical accounting solution for small companies that need to automate their bookkeeping operations, issue limitless invoices, manage their suppliers and customers, monitor projects and time, and generate analytical reports.
ZipBooks Is Particularly Beneficial For
- Users who want quick invoicing: ZipBooks has ready-to-use templates that you can download, alter, and email to your clients in a matter of seconds. Check out this post on the best invoicing software if you want to look at additional possibilities.
- Sign up with ZipBooks to send limitless invoices, link one bank account, make credit card payments, and see basic reports for free accounting software. You may also have a look at our list of the top free accounting software.
ZipBooks Isn’t Right For You
- Ecommerce firms: ZipBooks lacks capabilities like ecommerce platform connection and inventory management that ecommerce businesses need. Read our guide to the best ecommerce accounting software to discover a better solution.
- Those seeking for a mobile app should be aware that ZipBooks does not offer a mobile app to complement its web-based service. Instead, due of its full-featured mobile app, we prefer Zoho Books.
- Merchandising: ZipBooks Sophisticated lacks the inventory accounting tools we need, such as documenting cost of goods sold (COGS) and automatically determining ending inventories. If you need to keep track of your stock levels and expenses in one spot, we suggest QuickBooks Online.
Are you on the lookout for something unique? Check out our top selections in our guide to the best small company accounting software.
Pros and Cons of ZipBooks
ZipBooks is a great place to start.
Case Study: ZipBooks
We used the case study method to evaluate the fitness of ZipBooks in small business accounting. We emphasized 11 key areas in accounting that are essential for small businesses. Here are the results of our Case Study: ZipBooks as compared to its direct competitors, QuickBooks Online and Sage Business Cloud:
ZipBooks FSB Case Study Results
ZipBooks Sophisticated was compared to QuickBooks Online Essentials (a less expensive version of QuickBooks Online Plus) and Sage Business Cloud Accounting (the most expensive version of Sage Business Cloud). Reporting and accounts receivable (A/R) are ZipBooks’ strong suits. Overall, we think ZipBooks’ most expensive package falls short of QuickBooks Online Essentials, notably in Banking, A/P, and A/R. While QuickBooks Online Essentials has a limit of three users, ZipBooks Sophisticated has no such restriction.
Pricing at ZipBooks
ZipBooks offers three company options and one accountant package. The Accountant plan includes everything in the Sophisticated plan, but is tailored to accountants who work with a large number of customers.
Features of ZipBooks
ZipBooks has features that are similar to those found in other accounting software solutions today. In this review, we’ll look at the features of ZipBooks Sophisticated to determine whether it’s a suitable match for your company.
Right out of the box, ZipBooks has a fresh and clean design. The interface is simple and straightforward. A fast access menu may be found on the right side. If you wish to view the full list of activities, click “More” next to the bell symbol in the upper right corner of the dashboard:
It’s very simple to set up your business on ZipBooks. You may change your business name, details, and other information in the Company settings section, which isn’t very complicated. Important accounting variables, such as accounting basis and book closure date, are specified under the Accounting Preferences section. The business establishment procedure is missing three steps: recording a fiscal year-end, choosing an entity type, and importing starting account balances. Journal entries are the sole means to record a starting amount in an account:
Assets and Liabilities Chart of Accounts
When you buy ZipBooks, it comes with a default COA already set up. Users of the Sophisticated plan, on the other hand, may add extra accounts, such as depreciation, amortization, or bad debts valuation accounts. We discovered that the COA does not have an account for accumulated depreciation, so we established one using Fixed Assets as its parent account:
The COA’s equity section is designed for a solo proprietorship. You may change the section by adding corporate accounts such as Common Stock, Additional Paid-in Capital, and Retained Earnings:
Video of ZipBooks’ General Features
The Transaction tab contains the accounts payable (A/P) module. It’s simple to set up merchants in ZipBooks. You also have the option of designating the vendor as a 1099 Contractor. You may insert things and designate which expenditure account is debited while making invoices. However, we believe it is inefficient because we are unable to tag invoices as they are being created. If we could tag departments or projects together when drafting a bill, it would save us time. Instead, just the Expense tab allows you to tag bills:
Making an Inventory Purchase Bill
We prepared a bill for the purchase of widgets in the picture above. In an ideal world, the program would prompt us to enter the number of things bought. ZipBooks, on the other hand, merely asks for the total cost of the widgets. This technique makes identifying inventory units and expenses on hand difficult.
Accounts Payable Video from ZipBooks
In ZipBooks, the number of invoices you may create is restricted. There are no templates to pick from, and there is no method to modify the color of the invoice. You may, however, include your logo and a customized message underneath the invoice:
How to Make an Invoice
ZipBooks has a function that allows users to add unbilled costs to client invoices, which is generally reserved for more expensive plans like QuickBooks Online Plus. This functionality, however, is a competitive edge over comparable priced software like ZipBooks Sophisticated, which costs $35 per month.
ZipBooks allows partial payment of bills. When a customer pays a portion of an invoice, ZipBooks marks it as “Partial,” and the amount paid appears alongside the total invoice amount on the invoice screen. ZipBooks is unable to record credit notes to customers.
Accounts Receivable Video from ZipBooks
Cash Management and Banking
How to Balance a Checking Account
It’s also simple to reconcile your bank account in ZipBooks—just remember to enable “Reconciliation” in the account settings. In comparison to other accounting software applications, ZipBooks displays bank reconciliation in a unique approach.
The standard line items in bank reconciliation, such as deposits in transit and outstanding checks, are not shown in ZipBooks. Instead, the difference between the book and the bank balance will be shown. Simply uncheck the items offered by ZipBooks or add an adjustment entry for charges detected on the bank statement that haven’t yet made their way into the books to reconcile the balances.
The banking functions of ZipBooks have certain drawbacks, such as the inability to generate a reconciliation report or print checks. We don’t suggest ZipBooks if you write checks for vendors on a frequent basis since it would be inefficient to write checks manually. Instead, for check printing and outstanding bank reconciliation services, we suggest QuickBooks Online.
ZipBooks Cash Management and Banking Video
Fixed asset management capabilities such as examining listings of fixed assets, assigning ID numbers, and calculating depreciation are not available in ZipBooks. Instead, assets in the balance sheet may only be classified as fixed assets.
Developing a Budget
Because ZipBooks features a built-in time tracker, project accounting is straightforward and easy. You may create projects, assign a contractor to them, and track their revenue and costs. During the invoice generating process, billable costs may be transformed into invoices. If your customers want estimates, you may generate them on the Invoice tab, and the estimates form’s design is comparable to that of invoicing.
ZipBooks does not allow you to compare estimates to real project expenses. If you require project accounting capabilities like cost comparisons between expected and actual project costs, Xero is the best option.
To monitor sales taxes collected by jurisdiction, you may establish a sales tax item. The application, however, does not offer a comprehensive report on your sales tax due. ZipBooks also lacks any tools that would assist you in paying your sales tax or filing your sales tax return. This topic will not be covered in a separate video since it was previously covered in the A/R and A/P videos.
ZipBooks, however, does not offer inventory tracking capabilities. There’s no method to keep track of how many inventory units are purchased and sold, and the program doesn’t automatically record COGS or calculate the cost of terminating inventory. Because of its superior inventory stock and cost monitoring tools, we suggest QuickBooks Online. This topic will not be covered in a separate video since it was previously covered in the A/R and A/P videos.
One of ZipBooks’ strong suits is reporting. It can create the reports that we believe should be included in accounting software for small businesses. The following is a summary of the reports:
Customer care at ZipBooks isn’t as accessible as it is at other accounting software companies. They do not provide customer care over the phone. Instead, you may speak with a live agent or utilize the chatbot. ZipBooks gives an estimate of how long it will take to respond to your queries through live chat, which can be located in the bottom right corner of the screen. While you wait for a response, you may go through ZipBooks’ Help Center for a fast solution to your issue.
There isn’t a mobile app for ZipBooks. If you want a mobile app, we propose Zoho Books, which has an excellent and comprehensive mobile app that allows you to send invoices, receive payments, allocate costs, input bill payments, classify bank expenses, track time, and see reports.
Options for Assisted Bookkeeping
ZipBooks provides accounting and tax assistance. ZipBooks may create a unique plan for you if you have sophisticated accounting demands.
- Simple Bookkeeping: For $125 each month, you receive the following services:
- A personal accountant
- A ZipBooks strategy
- Bookkeeping help and financial statements are provided on a monthly basis.
- Up to five bank or credit accounts are permitted.
- Expert guidance on bookkeeping
- Online bookkeeping assistance
- Multi-classifications Bookkeeping: You receive the following for $145 per month:
- Simple Bookkeeping provides all services.
- Multiple locations, business units, or classifications may be tagged and tracked.
- Financial statements, both individual and combined
- Financial statements from all classes are compared.
- Vendor and 1099 Preparation: For $175 per month, you will get the following services:
- Simple Bookkeeping provides all services.
- Vendor payments are tagged or tracked.
- 1099 preparation and reporting
Integrations
Slack, Google Suite, Square, Zapier, Pepperi, Zoho Flow, Gusto, and PayPal are all ZipBooks integrations. Unless you subscribe to Zapier, ZipBooks doesn’t offer many connectivity options with third-party applications.
Alternatives to ZipBooks
Conclusion
As long as you don’t have a lot of inventory, ZipBooks has all the fundamental accounting functionality you’ll need. Even for do-it-yourself (DIY) accounting, the program is simple to use. Even with its most expensive subscription, ZipBooks lacks several sophisticated features. We wish there were more complex features like inventory monitoring, purchase orders (POs), and vendor credits, thus we suggest ZipBooks for service-based enterprises’ basic accounting requirements.
ZipBooks is a company that provides accounting software. They have released their pricing for 2022 in the past week, and are now available on the market. Reference: zipbooks pricing.
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