Organized Bookkeeping

Is the New QuickBooks Online Right for your Business?

There has been a nearly unprecedented marketing push by Intuit to promote the new QuickBooks Online.  Normally, the main website features a variety of software choices.  It’s only been featuring QuickBooks Online.  Have a question about Desktop?  Support will suggest that you upgrade to QuickBooks Online.  Any issues?  Wow, you must need an app for that.  Why, might you ask are they pushing it this much?  Since it’s a subscription based software (SAAS), there is an ongoing revenue stream into their company.  Normally, with Desktop QuickBooks, you have one large purchase that suffices for a few years.  In addition, QuickBooks Online also cuts out the middle man, or the office supply stores that sell you the desktop product.  I’m sure this all sounds really great for investors.

Now that you’ve heard how great online is for the company, let’s make a decision about whether it’s great for the CUSTOMERS.  (Grin).

One of the nice things is that it’s available across a variety of devices.  You don’t have to tie down your computer with QuickBooks, multiple people can access it and your accountant or CPA can also directly log into it.  Desktop means that you either can access it on one computer or make a network to share it across.  You may need multiple licenses to use it on different computers.  The APPLE – PC wars rage on and the two different versions are not compatible, nor do they play well together.  If you are transfering Desktop files between different computers, it can be burdensome to keep everyone on the latest version.

Some of the plusses are:

  • Speeding up the processing speed
  • Improved Bank Downloads
  • Simplifying the Available Choices
  • Adding QuickBooks Online Accountant

Which types of companies are not appropriate for QBO?

  • Complex Companies
  • Fortune 500 Companies
  • Companies with extensive Inventories
  • Companies that need extensive Job Costing
  • QuickBooks ‘Point of Sale’ does not download to QBO.

Which companies work well with QBO?

  • Service Companies
  • Mobile Companies (Invoices can be created on the fly via a Ipad)
  • Artists/Writers
  • Light Inventory
  • Retail that uses a Z-Tape to record the daily activity.

Take the time to evaluate the available choices and determine which is the right fit for your needs.  Take the time to dig a little deeper and remember that the accounting system needs to meet your needs.