Choosing the right QBO edition

Depending on the QBO edition QBO can be ideal for anyone from solopreneurs and freelancers all the way to mid- to large-sized businesses. If you tend to hire 1099 contractors, also known as independent contractors QBO can help you keep track of payments made to contractors throughout the year. Since contractors are not employees of the business, you must provide a 1099 form at the end of the year to any contractor you have paid $600 or more in the calendar year.The needs of your business will determine which edition of QBO is ideal for you. The following provides some additional insight into the ideal edition of QBO for different types of businesses.

When you purchase a QBO subscription, you can track business finances for one business entity. If you need to track more than one business, you will need to purchase a QBO subscription for each business entity that you have. In general, any business with a unique tax ID number will need their own set of books...