QBSE vs QBOL - chart of accounts and tax estimates recommendations

Thank you for reaching out to us.  I'm here to help you comprehend the distinctions between these two products and support you in making a well-informed decision.

QuickBooks Self-Employed (QBSE)  and QuickBooks Online (QBO)are two different versions of QuickBooks with varying features and capabilities. 

QBSE caters to the tax requirements of self-employed individuals with simpler needs, whereas QBO provides a more comprehensive accounting and tax solution with advanced features tailored for businesses.

 If you need a more extensive chart of accounts and advanced tax features, transitioning to QBO might be a more suitable choice for you. It is advisable to thoroughly assess the specific features and capabilities of QBO to ensure it aligns with your needs prior to making the transition.

Note: Once you move to QuickBooks Online, you cannot go back to QuickBooks Self-Employed. For more details, you can check this article: Switch from QuickBooks Self-Employed to QuickBooks Online. 

Once you're ready to transfer your data to QBO, you can read through this article to learn more on how to get started: Getting started with QuickBooks Online.

Please touch base with me here for all of your QuickBooks needs, I'm always happy to help. Have a great day!

I think I do need QBOL but I'm just curious if there is a feature somehow that allows me to easily estimate the tax information using QBOL because I'm really really bad at them. Would I do that in TurboTax instead, or is QBSE the only place where that is offered?

Greetings!

For more advanced tax calculations and filing, you may want to consider using TurboTax, which is specifically designed for tax preparation. TurboTax can import data from QBO to help streamline the process.

Alternatively, QuickBooks Self-Employed (QBSE) is another option that offers tax-specific features tailored for self-employed individuals. QBSE can help you estimate and track your taxes throughout the year.

Ultimately, the choice between TurboTax and QBSE depends on your specific needs and the complexity of your tax situation. It may be beneficial to consult with a tax professional to determine the best solution for your circumstances.

QuickBooks Self-Employed is specifically designed to cater to certain tax categories, such as Schedule C. Refer to this article for the complete overview: Overview of QuickBooks Self-Employed

We are still here if you need more assistance with how to manage your estimated taxes in QBSE. Have a great day.