Quickbooks has been the undisputed champion in accounting and bookkeeping software for the last few years. The desktop versions of this software were the most popular options provided by Intuit, boasting simplicity and a fairly high level of customisability. Quickbooks Desktop has been shuffled to the bottom of the ‘most popular’ Intuit products, however. Since Quickbooks Online (QBO) was released, it has surpassed the desktop version to become top of the class. And having just received PCMag.com’s Editor’s Choice pick for best cloud-based accounting application services in 2015, it’s not hard to see just how Intuit’s star pupil got there.
Quickbooks Online gives the user the QBD experience but from the comfort of wherever they want to work. The most popular QBO is the Essentials package, which runs the user at $26.95 per month. This works out to $323 per year. While a little pricey, the freedom to access your business accounts from anywhere is well worth the cost.
Quickbooks Online bookkeeping Essential’s features include 40+ built in business reports, income and expense tracking, and the ability to send unlimited estimates and invoices on the go. There is also a subscription based payroll option. There are also flexible contact records and transaction forms and comprehensive payroll support – should you subscribe to that option.
The Essential package also includes your basic functions such as accounts payable, accounts receivable, bill management and payment. QBO’s record formats are thorough, clear and customizable. They also offer a very robust assistance centre with online chat in case you get stuck.
In older versions of QBO, there was no function through which you could track inventory. With its recent updates, QBO’s inventory tracking ability leads the competition by a wide margin. As soon as it is entered, QBO will continuously track the product on hand. The program also allows for the creation of product and services records. The website also supports the creation of billable time entries and weekly timesheets. These tools will help your business stay on track.
Quickbooks Online bookkeeping’s interface is the best among its competitors in terms of readability. It tends to be quite large, which means that you’ll be able to see all of your required information without having to squint. You understand how important accuracy is to your business. There’s no reason to have any second guessing due to a cramped head’s up display.
Cloud-Based Application & Privacy Options
In a recent article, Steve King of Emergent Research stated that “37 per cent of small businesses are fully adapted to cloud-based applications” and that he “expects it to increase to 78 per cent by 2020.” QBO offers on-the-go business owners to access their accounts from anywhere with a viable internet connection. With the rise of location independent businesses, this feature has become a real difference maker.
Having everything in the cloud also eases access for your accountant and any other trusted employees. These are the people you want to have access to your files with one click, and QBO gives them that access. Alternatively, if you wish to have fewer people having a look through your books, you have the option to limit access to whoever you choose.
One cool thing that sets QBO apart from its competitors is its “Starbucks Mode.” This mode enables users to hide sensitive information from people if they’re doing business in a public setting. This ensures that no one will be looking over your shoulder and seeing important company information.
Quickbooks Online bookkeeping offers its users the ability to easily sync to their desktop from their mobile. This is the real first step to having a location independent business management system. QBO keeps everything in the cloud, which means there is no software or local data to manage. This of course means there are no upgrades or release updates needed to keep QBO up to date. There is no need for external backups, which ensures your information is secure on Intuit’s servers. In these times of major online security breaches, this sense of security is sorely needed.
More sync options available through QBO include nightly automatic downloads, which are free with iPhone and iPad applications. Also offered is the option to receive payments by credit card and ACH electronic payments. Couple this with QBO’s ability to download bank and credit card transactions on a nightly basis, and transaction management is made simpler than ever.
As you can see, Quickbooks Online bookkeeping has many features that can improve your business in many ways. However, if you find yourself lost and needing help in anything Quickbooks related, Darcy Bookkeeping team is available to help. Darcy Bookkeeping has a team committed to helping you with any Quickbooks Online bookkeeping Sunshine Coast questions and various functions, such as data entry, helping set up Quickbooks, payroll aid, assistance with both your accounts payable and receivable, budget preparation, and helping create accounting records for your accounting preparation needs. If need be, we are available to take on your business’ bookkeeping and support you how to effectively use Quickbooks Online.