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hey what is up guys it's brenon here and today we're going to be talking about QuickBooks solo preneur as it is replacing QuickBooks self-employed so this is relatively new news in the overall small business accounting world and I figured today I would do a general overview of the new QuickBook solo preneur plan what it looks like and how it replaces QuickBooks self-employed and who is QuickBook solopreneur for in the first place right who is this new accounting plan from int QuickBooks built for designed for and what does it come with what is the pricing features and general overview of this new offering from into it QuickBooks looks like that's what we're going to be diving into here in today's video of course if you do want to follow along or you do decide that you want to go with QuickBooks of course you go check out that first link Down Below in the description that's brenn andy.com for/ QuickBooks we'll take you right over to QuickBooks where you can decide what plan you want to go with and get signed up with QuickBooks of course some of which are affiliate links Down Below in the description which is a great way to help out and support the channel without further Ado let's go ahead and dive into this overview video of QuickBook solopreneur so breaking the news of course this is relatively new news in the uh small business accounting world and into it even announced it here on their press release page giving you a hey this is now happening now I get for a lot of you guys who may be coming across this video You're maybe searching for QuickBook self-employed and you're like where is it right where is QuickBook self-employed you come over here to the QuickBooks website you're like hey I'm uh at the business stage of self-employed you click here and you're like well where is QuickBook self-employed where where where is the plan what where did it go so essentially they have replaced QuickBooks self-employed with this new plan called QuickBook solopreneur it is a completely different business offering I'm going to be reading into the specifics in just a moment in helping explain it as well is where it fits within their overall product and how does it compare to maybe some of the other QuickBooks plans that I've covered here on the channel before such as their regular small business plans and where and who it might make best the most sense for ultimately as a small business accounting software or even as a freelancer accounting software or basically anybody who is quote unquote self-employed and earns whether it be $199 income I'll get into that in a little bit just how that breaks down but essentially and now QuickBook self-employed has become the self-employed accounting software QuickBooks solo preneur again that's the main focus of this video here today so going over their press release here as you can see it is relatively recent and depending on when you're watching this video maybe this has already been out for a minute um but just to explain exactly what QuickBook solo preneur is it is essentially a new product offering so they figured that because of some changes that they are making they figured they would rather take it into a more focused approach on servicing business owners who are a single employee right you're just a solo preneur a solo entrepreneur that's sort of their status here and as you can see here I'm not going to be reading into all the details here I'll leave a link to this page in the description if you want to check it out um but essentially in terms of managing your books you can manage your books separate out personal and business transactions very similar to how the self-employed uh plan worked but now with the solo purd plan again it is focused more on people who have a sort of a side business or maybe they are um doing Uber oryt I did see on Reddit some people mention that it's like yes this is exactly who it is built for essentially anybody who maybe is in the sort of gig economy type of thing freelancing uh anything where you're maybe earning $10.99 income or income that isn't uh directly paid out from an employer such as a W2 based income uh so that's what solopreneur is built for anyone doing any other type of um sort of gig or side basically you know income that is not from a traditional employer anything that you get in as a 1099 income or uh depending on how that may be it might even be just uh checks or cash or however you earn uh money in your business ultimately in order to track and then report that uh this can help you keep track of your overall um profit and loss statements your income and expenses so that you can maximize your deductions when it comes tax time uh and of course into it is very uh financially incentivized to promote their Turbo Tax software uh as well along with this platform because again it it sort of funnels people into that basis of it's like hey if you are earning an income from 1099 income then you know you need to make sure that you can track your overall deductions uh and maximize those deductions to save money on your taxes that's ultimately the main driver here uh for people to even use QuickBook solo preneur of course and just keeping better Financial records seeing how much money you're actually earning and expending inside your business even if it is uh just as a oneperson business so as you can see here you can easily view your income expenses and profit uh within the reports and dashboards so this is great for people you know to help make smarter business decisions uh and Achieve goals as you can see you can stay Tax Ready year round you can auto track your miles on the go with the QuickBooks mobile app as well uh so you can track business trips as well as business expenses uh so this can make it a lot easier for you uh to then migrate things over to Turbo Tax when it comes tax time and you can just be ahead of the curve there to know how much you approximately are going to owe uh you can keep track of how much your business has made overall your income and expenses and just managing uh your overall bookkeeping uh setup in addition to that as as well uh in addition to just keeping track of your books of course uh you can also you know get a clear view of where your business is at so showing you the QuickBook solopreneur page here uh as you can see you can track your overall income uh within your business and see how it's going over time as you can see you can track your profit and loss your income and your expenses and see where your business is at on a month-to-month basis and you can categorize those transactions out whether it be meals and you know or or utility bills or software subscriptions whatever the expenses are or even mileage deductions as well no matter what your expenses look like in your business uh depending on the nature of your business this is how you can help keep track of it so that when it does come tax time you are not behind the curve and not even just for taxes but also just keeping a better view of how much money you're making or losing in your business on a month-to-month basis can be extremely helpful to make better decisions hey where is most of your income coming from where is most of your expenses com coming from that way you can maybe cut some expenses that are sort of unnecessary things like that and just better financial management within your business of course uh if you're interested in accounting software of course you would most likely already know this um but this is just what this software helps you do uh in terms of managing things in addition to that as well they do also offer invoicing so you can uh invoice customers you can do your uh mileage deductions as well automatically so you can set up Auto trip tracking you can see your overall net profit per month so income and expenses on a monthly basis and just seeing where you stand with your overall deductions whether it be home office vehicle uh no matter what it it may look like now again there are certain you know tax ramifications as to what you can actually claim but as long as you're keeping track of everything you know that is just one step further to getting an overall view of your financial picture uh so as you can see here um in terms of what it looks like you know how I run my business without QuickBooks uh you know things like that are you know it makes it it easy just to see everything now in terms of the pricing of course this pricing is always subject to change I have to say that in every single video so be sure to check out the pricing page to get the most realistic and up-to-date pricing because when you're watching this video the pricing may be different by that time but currently and I will say generally speaking it is going to be cheaper than the other higher level QuickBooks plans I'll be getting into how it sort of Compares a little bit I I do have a completely separate video going more into uh QuickBook self-employed versus QuickBooks you know regular QuickBooks Online uh because there are a lot of other things that are worth diving into if you want to check out that video of course just you know go through my channel QuickBook self-employed versus QuickBooks Online very similar because essentially QuickBook solopreneur is more or less very similar to what QuickBooks self-employed was the software is slightly different in terms of how it works uh in terms of you know how you're able to navigate around the software but essentially it is more or less less the same type of thing they're sort of just rebranding it uh and adjusting some of its functionality now in terms of what you can still do with the QuickBook solo preneur which is the new plan and what they are currently selling again because they have migrated things over uh it is you know the ability to get organized as a solopreneur so you get to track profitability separate business and personal expenses again a lot of the things that they did have with QuickBook self-employed are carried over into here with QuickBook solopreneur uh you're able to customize uh estimates and invoices accept payments you can get tax help if you need that uh they do also offer the QuickBooks money uh setup which is free and they just sort of lump that in here uh QuickBooks money is sort of a separate product that they do lump into QuickBook solopreneur uh as well you just have to enable it if you want it which is the ability to open a business bank account through them um you know earning potential uh interest on there and then you can track your sales and sales tax as well uh set and track grow growth goals and automatic mileage tracking so each of these features are sort of lumped in uh you know within the product now as you can see here right now they do have a thre Monon promotion at 50% off uh you could try it free for 30 days as well again this is just currently what the offer looks like as the time of recording this video uh or they also have an annual uh deal as well so you're able to save a bit of money on that uh first year so that's another option there overall so you have the monthly versus the annual uh so overall the monthly cost is still only 10 you know $10 cheaper currently uh than the regular uh QuickBooks online now QuickBooks Online gives you a lot more of a full Suite accounting software with cash flow tracking and a lot more reports and detailed analytics um with even in the Simple Start it is just a little bit more money uh and so it it might make sense for you to upgrade to something like QuickBooks online and you can always do that in the future if you do want to make that migration or you could just do it from the get-go again if you want to learn more about the comparisons I do have a whole separate video going more into that but essentially it's a little bit more advanced you have the ability to add payroll uh and it's just a bit more built for people whether you are a small business owner planning to grow in scale maybe hiring employees or you know if you're trying to get maybe some more detailed analytics and Reporting which isn't necessary for everybody who's just a you know someone who has self-employed income uh and needs to keep track of things that's not really who the regular QuickBooks Online crowd is for again the more basic crowd not just you know is more so in line with QuickBook solopreneur although I get that some people that even are just self-employed as one person in their business still might prefer QuickBooks Online just because of the more detailed analytics and reports dashboard that they have within QuickBooks Online uh again it is a completely separate software so I did just want to make that quick comparison uh in this video here as well just so you get the full picture of the differences between the software and why one exists over the other as well again if you want more detail analytics and Reporting regular QuickBooks Online is more for you even if you are still just a you know solo preneur that's what I personally do I still I personally use QuickBooks um Simple Start within the regular QuickBooks Online for the more detailed analytics and Reporting within the business for me I just find that to be very valuable but for most people who want to save even just a little bit of money I get it's you know $10 a month cheaper uh for a plan like QuickBook solopreneur again if you don't need the extra additional um you know accounting based features if you just want to keep things simple separating out personal or business expenses and tracking them in here uh it could make sense just to keep things simple within QuickBook solopreneur now QuickBook solopreneur is still fairly basic but it does still automatically link up your transactions you can make sure everything is tracked for tax time uh and again separating them out personal or business it is very nice for the average person who is just looking to uh keep track of things again for when it comes tax time you know separating out uh those business and personal expenses and still they do have some simple reports and dashboards again it's not as complex and as much of an advanced feature set so for some people if you want the more advanced reporting and feature set hey maybe the regular you know QuickBooks Online is better for you that's what I personally use um but it is just it and again it is only slightly more expensive but if you do want to cut expenses as much as possible and still use a robust platform like QuickBooks then QuickBook solopreneur could make sense for you in that scenario again it is still um you know it is still a little bit cheaper so not by that much though honestly like the feature set that's just my opinion but overall QuickBook solo preneur can still be a great option again if you don't necessarily care about some of the more advanced features uh and you can always try either of the platforms out and see which one you like if this one gets your needs uh satisfied then you know feel free to just go with the QuickBook solo preneur again it is a new plan so I figured I would make this video here today uh covering the general Basics and overview of this new plan within QuickBooks again QuickBooks solo preneur I'll leave a link to this press release as well if you do want to read some more details as well as a link to of course QuickBooks at that first link Down Below in the description again that is Brandon vy.com QuickBooks if you do want to get signed up with QuickBooks again some of which are affiliate links in the description which is a great way to help out and support the channel if you guys found this QuickBook solopreneur overview video helpful then be sure to smash that like button hit the Subscribe Button as well and notification Bell so you're notified whenever I upload a new video anyway guys that all for today's video and I'll will see you in the next one peace out