Unfortunately, logging and categorizing those expenses can get away from you fast, especially if you’re just throwing all of your receipts in a shoebox to be entered during crunch time. Cloud accounting software lets you easily create professional-looking invoices and send them to your clients by email soon after the purchase—even the same day if you choose. It’s every small business owner’s worst nightmare—and it’s made even more terrifying when you realize that this means all of your financial files are gone too. All of your accounting journal entries to issue stock financial accounting data was on that now missing laptop, and you can’t even remember the last time you backed that up. Advanced Inventory is included in the Platinum and Diamond subscriptions only. Advanced Reporting is included in all QuickBooks Desktop Enterprise subscriptions.

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On the weekend, you will find her hanging out with her family or surfing around the North Shore of Oahu. Team members can access the same QuickBooks file simultaneously, making it easy to work together in real time. Changes made by one user are instantly reflected for others, fostering efficient teamwork.

Automate time-consuming tasks

You’re looking through your bookkeeping records, getting an idea of your business’ financial standing for this quarter. Then you realize that this report is outdated and missing several important pieces of data, meaning it isn’t at all accurate. Another notable difference is QuickBooks Online offers a Self-Employed version for $15 per month, which is not available with QuickBooks Desktop. Taking care of these things upfront will help ensure a smooth transition to using QuickBooks in the cloud, giving you more flexibility and security for your accounting needs. Cloud-based QuickBooks refers to the deployment of the QuickBooks Desktop software on cloud servers instead of being installed and run on individual local computers. Data file optimization reduces your file size by removing audit trail of historic transactions and a few tables from the database that are not used or needed by the company file.

Is QuickBooks Online Right for You or Your Business?

We immerse ourselves in every platform we review by exploring the features down to the finest nuances. When rating accounting and invoicing software, we use a 47-point rubric that looks at pricing, ease of use, features, customer service, and user reviews. On the other hand, QuickBooks is easier to learn, has strong mobile apps, and has tax support. When it comes to features and integrations, QuickBooks Online and Xero are pretty evenly matched. However, Xero has a few advantages because it supports unlimited users at no additional cost, making it a solid choice for larger businesses. The mobile apps rank highly with Android users (3.9/5 stars) and iOS users (4.7/5 stars).

1. They employ robust security measures such as encryption, firewall protection, and regular data backups to keep your financial information safe from unauthorized access and data loss.
2. QuickBooks Online is cloud-based accounting software that boasts strong reporting, customizable invoices, inventory management, multiple currencies, and 750+ integrations.
3. Small businesses, in particular, can benefit from its cost-effective scalability, remote access, and data security features.
4. There are over 200 options instead of the 650-plus to its cloud counterpart.
5. The most notable difference, aside from price, between QuickBooks Online and QuickBooks Desktop is the Online version is cloud-based.
6. Before you know it, you’re operating with software that’s several versions behind (and, as a result, vulnerable to all sorts of threats and bugs).

Every business is unique, and there may be instances asset liability management where QuickBooks Desktop may be a better fit. For example, it may be more suitable for businesses with complex inventory management needs or those wanting offline access to their financial data. However, QuickBooks Online is the better choice for most companies, especially those with remote accountants and multiple employees. QuickBooks Desktop is preferable for companies wanting to manage their books without an internet connection.

Both versions have mobile apps, but the app for the Desktop version primarily functions as a way to upload receipts, and the Online mobile app is robust email marketing platforms nonprofits in comparison. QuickBooks Plus is the most popular plan for businesses since it includes features such as inventory tracking, project management and tax support. Midsized businesses with several customers or clients might benefit from the ability to track profitability with QuickBooks Plus. This — in addition to a recent monthly pricing increase — lowered our score for QuickBooks Online pricing to 3.2/5.

However, QuickBooks Online offers phone support from 6 AM to 6 PM PST, Monday through Friday; Saturday hours are 6 AM to 3 PM PST. Intuit is constantly offering discounts for QuickBooks Online, so be sure to check for any current promotions. If you invoke the guarantee, QuickBooks will conduct a full n evaluation of the Live bookkeeper’s work. It’s important to note that FreshBooks is the most competitively priced software solution we found. While QuickBooks Online is only 50 cents more than Xero, note that that is the introductory cost for the first three months. QuickBooks Online goes to $30 per month after that and is easily our most expensive option.