Intuit is the developer and marketer of QuickBooks accounting software. QuickBooks products are fitted mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
QuickBooks Online (QBO) is not only a perfect tool—it’s an essential one for any small business owner looking to depend on the accounting software to keep their books in order. QBO is a fairly intuitive platform, and Intuit makes more updates every year to keep the platform super user-friendly, best benefits of QBO that you can access it from anywhere from any PC or mobile. QuickBooks Online is the most advanced and recent Intuit product available in the market. You can pay a small fee every month to use latest and updated platform continuously.
Advantages of QuickBooks Online
If you are the owner of a small to medium-sized service-based business, or you are just starting out as solopreneur, we will recommend going for QuickBooks Online.
Pick QuickBooks Online if you:
- Want to easily give access to other users to your QuickBooks company file.
- Would like to use the company from any device in any location
- If you need technical support 24/7
- Prefer to pay a smaller monthly fee instead of a big upfront fee
- Are open to taking advantage of automation
- Understand the risks associated with cloud-based software such as data breaches
- You can use QuickBooks on the MAC computer too,
Below are some of QuickBooks Online’s exclusive features:
- Plan and send transactions automatically
- Attach documents, images, and signatures to transactions with file upload
- Automatically manage bank and credit card transactions
- Check the Audit Log to review action and track changes over time.
- Relabel your customers to however you refer to clients, customers or any other.
- Give users defined access. There are four types of user roles you can assign. Journal Entries can have multiple AR/AP lines
- Manage and track many budgets per fiscal year
- Easy Integration with 3rd party apps.
- The latest version is updated automatically. Since QuickBooks Online is hosted in the cloud, you will always have access to the newest version of QuickBooks.
The new generation QuickBooks Online accounting software is perfect for all your business needs and make your accounting easy. It’s maybe the easiest way to handle your entire business and you save both time and effort. Wherever you go, it’s easy to keep track of your sales and expenses, accept payments, pay your employees and many more. Everything that you do in QuickBooks online is synced between your desktop, laptop, smartphone, and tablet. Hence, this makes you stay up-to-date in your business life.
QuickBooks Online is cloud-based financial management software. It’s designed for small, medium and growing businesses to slash the time that you spend on managing your business finances by helping you with tasks such as:
- Creating estimates and invoices
- Tracking sales and cash flow
- Managing your customers and suppliers
- Tracking your tax and making tax return much easier
- Understanding your company’s performance
- Planning ahead and budgeting
QuickBooks online Easy with These Features
You can access QuickBooks Online on the internet within any platform. You can also use key features from any smartphone or tablet if you don’t have a computer or laptop available. With QuickBooks Online you can:
- Track income and expenses and see company financial reports
- Enter and send invoices
- Download and automatically organize bank and credit card transactions in nights.
- Print checks and record transactions
- Import data from Worksheets or QuickBooks Desktop
- Automatically backup your data online since your data is cloud-based.
- High-security measures so that only you can access your data
- Access your company file from a smartphone or tablet
- Invite up to two accountants to access your data at the same time you are working on your company file.
- Easy integration is available on limited applications.
What does that mean exactly?
You will be able to access QuickBooks Online anywhere in the world as opposed to QuickBooks Desktop which can only be installed on the desktop which you purchase it for, and it can just be for PC as it’s been discontinued for MAC computers.
And also keep in mind that QuickBooks Desktop is likely to be discontinued as everyone liked to move to cloud-based software (SaaS). This will make a move to QuickBooks Online more useful.
Let’s look into some of the major accessibility differences more deeply:
- In QuickBooks Desktop and QuickBooks Online user can access company file in multi-user mode. But the difference is that you can open multi-user in QuickBooks depends on the plan and you have to buy an additional license in order to login multi-user into Desktop.
- As a small business owner, you likely have a staff whose jobs intermingle, which makes software that essential possesses the potential to grant access to your team a smarter choice. Also, each of the users will have a unique username and password, and when there is a software update, QuickBooks Online will update for everyone automatically without doing anything at our end.
- In QuickBooks Desktop, you have an Audit Trail — it allows you to see activity on transactions in your books such as when they have been entered or deleted. QuickBooks Online goes further with its Activity Log feature, which provides more log information. You can view edits a user does to data, such as updates to a vendor, times for user login and log out, and for tracking banking actions such as transactions. This sort of information can help keep an accurate record, especially if checking for fraud.