This movie describes the major differences between QuickBooks desktop and QuickBooks Online, including remote access, up-to-date software, cost of technical support, automatic recurring transactions, inventory features, job costing, and sales orders. Bonnie Biafore explains how to decide whether or not its right for your business.
- [Voiceover] QuickBooks Online and the QuickBooks desktop programs, Pro, Premier, and Enterprise, all come from Intuit, but that's where the similarities end. The online-desktop programs look and behave differently, and they have their own pros and cons. Let's take a look at a quick overview of the major differences to help you decide whether QuickBooks Online is right for your business. The number one reason people choose QuickBooks Online is that several users can get to the QuickBooks data anytime and from anywhere.
That's because the software and your data are on Intuit computers in the cloud. Of course, you can access a QuickBooks desktop program from anywhere too. The only issue there is that you need additional software like LogMeIn, TeamViewer, or QuickBooks Remote Access to do that, and those services cost extra. The second point in QuickBooks Online's favor, you're always running the most up-to-date version. No need to purchase new versions, and no annoying interruptions to upgrade your software and company files.
The third advantage to QuickBooks Online, technical support is built-in to the price you pay. On the other hand, to get support for a desktop version, you have to purchase a support package. QuickBooks Online has some other features you won't find in the desktop programs. You can setup recurring invoices and sales receipts so that QuickBooks Online emails them for you automatically. You can also tell QuickBooks Online to automatically create invoices for billable time and expenses. The online version can also automatically email reports and download bank transactions.
If you track inventory, you'll need QuickBooks Online Plus. It's the only online edition that tracks inventory. Even the Plus edition, doesn't offer all the inventory bells and whistles available in the desktop programs. If you don't like QuickBooks Online's inventory features, another option is to subscribe to a third-party inventory service. QuickBooks Online doesn't have a built-in feature for tracking job costs and profitability, although, there are a few workarounds, and you can't create progress invoices, which are invoices that cover the completed portion of a job, which is an important part of job costing.
QuickBooks Online also doesn't offer sales orders. Of course, if you don't even know what you would use these forms for, than a QuickBooks Online edition would be just fine. There are other features that desktop editions offer that you won't find in QuickBooks Online, things like robust form and report customization, receiving partial purchase orders, and more. Keep in mind, Intuit releases new QuickBooks Online features and enhancements every month so the differences between online and desktop are a moving target.
To make sure QuickBooks Online will work for you use it for 30 days, which is conveniently the length of the free trial. If it's missing features you need, stick with one of the desktop editions.
- Choosing a QuickBooks Online edition
- Creating an account
- Setting up customers and vendors
- Setting up products and services, billable expenses, and time tracking
- Paying bills
- Creating invoices
- Receiving payments
- Handling refunds
- Setting up online banking accounts
- Running reports
- Paying sales tax
- Automating recurring transactions