What QuickBooks Online version is required for tracking profitability and creating budgets?

Tracking profitability and creating budgets in QuickBooks Online requires a version that offers advanced features tailored for more comprehensive financial management. QuickBooks Online Plus is specifically designed to facilitate these capabilities.

This version not only allows users to track income and expenses for multiple projects, which is vital for assessing profitability, but it also provides the option to create and manage budgets. These budgeting tools enable users to set financial goals and track their performance against those goals effectively.

While the other versions may provide basic income and expense tracking, they lack the necessary features for deeper financial insights and budget management that Plus offers. Simple Start, for example, is more limited to sole proprietors or freelancers and does not include features like budgeting or tracking profitability on a project basis. Essentials includes some advanced functionalities but still falls short of the comprehensive profitability tracking and budgeting tools available in Plus. Advanced offers even more features for larger enterprises but is not specifically required for basic budgeting and profitability tracking. Therefore, QuickBooks Online Plus is the right choice for users needing robust financial oversight.