5 Reasons You Need to Switch to Quickbooks Online
QuickBooks has been around since 1998 and was intended to offer small business owners the flexibility of an easy-to-use software package and the structure and compliance that are needed to manage a profitable business. Quickbooks is now more than ever just that, with how they have advanced and innovated as technology grew.
Here are the 5 reasons you should transition to Quickbooks online over desktop and other accounting software’s.
1. Accessibility
Quickbooks online is a cloud-based software accessed via the web through a user name and password. It can be accessed anywhere and, on any device, or application that can connect to the internet. Desktop is not cloud based. Files can only be accessed via the correct Quickbooks Desktop version AND can only be accessed if you have the software installed on your computer or on a server. Firms that use Desktop typically have multiple versions of the program stored on their server (which they have to pay for) or on each employee’s computer (which causes multiple file versions) in order to access all of their different client’s version of ‘their’ Quickbooks.
Also, with Desktop, if the hosting server is down, you cannot access the files. If you need to share a file, you must upload a special portable version and somehow send the large file through a method that allows for large file sharing. Also, you must have the Admin password or permission to perform certain functions on Desktop. With the Online version, all you need to do is have a username and password, clients can add firms as the Accountant user and they instantly have access to the books. There is no file sharing or file version so the client and bookkeeper can both have access without having to share file versions back and forth.
2. Price
Yes online has a monthly fee that can seem costly to the firm or client that is using the software. However, for a firm to properly access all client Desktop files, they must BUY each version needed (which are typically a couple hundred dollars) and also continue to pay for updated versions every few years in order to stay current with client files and support. Not to mention the additional costs of hosting Desktop on a remote or internal server so all employees can access the files. This alone typically exceeds the $25/month wholesale cost that accounting firms pay for Quickbooks online.
3. Applications
Quickbooks Online currently has over 300 applications that integrate with the software. Some of these include invoicing modules, inventory, shopify, paypal, bank and credit card feeds, expensify, bill.com, square, and much more. While there are options for bank feeds and some popular applications that can integrate with Desktop, they are much more limited and often times are inhibited by the use of a server, which many firms use to host their files. Additionally, Intuit is mostly focused on their online product, meaning that the development of Desktop applications will eventually, and already has, fall much behind that of those available with Quickbooks Online.
4. Support
From time to time even accounting and bookkeeping experts need some help from intuit. Overall, we’ve found that the Online support is superior to Desktop. Quickbooks Online offers a special help feature that can connect you with a support person in minutes via a chat module where you can type in your question, skip the wait line, and the language barrier. Since Quickbooks Online is constantly updating their software, the reps are very knowledgeable and responsive to any complication that may arise while using the system. Additionally, they can see a live feed of your file because it is hosted on their cloud-based server. Desktop, on the other hand, requires a call in to an 800 number where you have to explain in detail your issue to an overseas rep because they do not have access to your file. In our experience it at times has been difficult to properly relay the problem to the customer service rep due to the fact that they cannot see the file on their end. Furthermore, if you are working with a version older than 3 years ago, forget it. The reps cannot address your question. It is a big problem for those files that have not been converted by updating the version.
5. File Corruption
Yes, it can happen, but it only happens to the Desktop files. Ever receive a message that ‘your balance sheet is out of balance’ or notice that your AR balance does not tie to the AR detail report? You may think that is impossible in dual entry accounting- however, if your file is corrupted from improper use and sharing, it can and will eventually happen. This will never happen with Quickbooks Online files. They will never become corrupted or out of balance.
There are also many other benefits to Online.
- You can easily have reporting only access to your files – Your accountant no longer needs to beg you for reports. You can pull them from their Online login anytime
- Your accountant can work remotely on their own computers without having to manage a server
- The software is more user-friendly, especially for younger generations who tend to pick up the software very quickly versus Desktop
- One login hub for Online – no logging in and out to view multiple files, employees can easily switch from one client to another in one browsing session
- Automatically schedule and send invoices
- Instant access anytime and anywhere
While switching from Desktop to Online may seem like a major decision, we have found that switching has enhanced our clients processes and made interactions better with regards to access and reporting.