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QuickBooks Online Accounting Software – A Review

Intuit is a strong brand in the SaaS industry that has also produced the very well known desktop software QuickBooks Pro. This accounting tool is used by small to medium enterprises all around the world and has been around for almost 15 years. 

QuickBooks Online can be now used from your iphone, your Ipad or your android phone. This move was expected since most cloud-based accounting app providers are enhancing their software by focusing on social media and on the ability of the users to access the apps on the go.

QuickBooks Online Cloud-Based Accounting Software

The problem with QuickBooks Pro is that it’s a desktop software that you need to install on your computer, maintain it, update it and run it only locally. With the evolution of cloud-computing and the rise of the professional apps that are now offers as cloud-based, Intuit launched the QuickBooks Online Accounting.

QuickBooks Online Interface

The recently revamped QuickBooks Online user interface has sleek design. It has a left-hand side bar which allows users to view all their reports, transactions, supplier and employee information. The developers have carefully selected functions that are most frequently used and have placed shortcuts for them right on the front page of dashboard. In addition, you can view the details of your company’s account with just one click of the mouse. Your income, expenses, profit and loss will be visible in the form of charts and graphs for easy viewing. On the right-hand side of the screen, a bar with the break-down of bank account details as well as activities can be seen.

The re-engineering of QuickBooks Online can help business owners see an overview of the recent activity, record transactions faster and eventually spend less time recording their day to day operations and more time running their business. There are notifications for pending payments, taxes and other important tasks that need to be completed.

QuickBooks Online is therefore easy to navigate around, and the interface is designed to also suit touchscreen devices. Larger buttons and a clear navigation bar has been placed so that all the reports and important documents are within reach. The main navigation bar allows users to access the basic accounting features that all small businesses perform on a daily basis.

QuickBooks Online on the go

Users who wish to view their accounts through a mobile browser either on a tablet or smartphone can do so with ease. QuickBooks Online even allows users to perform basic accounting tasks such as create invoices and raise quotes through the iOS and Android version apps. This means that business owners can now take care of their accounting while on-the go. By being able to view all their financial reports through a mobile device, small business owners will be able to make informed decisions even when they are away from the office, visiting a client or while travelling.

QuickBooks Online Versions Available

The new online web-based solution comes in a standard, an essential and a plus version. The plus version offers more than the basic accounting features, it can integrate different tools with your inventory and help you track your products, cash-flow and other aspects of your business. It’s worth noting that although cloud computing can help businesses keep track of their accounting while on-the-go, the online version does not yet offer all the features that QuickBooks Pro offer.

QuickBooks Online Development

Since the first release of QuickBooks Online, some of the quirks in the system have been addressed. Now, users will be able to move their documents from the desktop to the online version using an addon. Stock and inventory control can also be added along with a payroll system. Although cloud-based accounting solutions are still being developed, QuickBooks Online is a helpful tool that can allow small business owners to complete accounting tasks with ease, whether they are at home, in the office or on-the-go.

QuickBooks Online Versions Comparison

First of all, the three version allow 1 user for the Basic Version, 3 users for the Essentials and 5 users for the Pro. I don’t know what’s the rationale behind this decision but limiting the users to 5 for the PRO might be a disadvantage. It’s true that most small companies do not have more than 5 people that record transactions but still, I don’t see the reason for this limit.

A very important feature that all versions offer is that you can give free access to your accountant that can tidy your books, do your taxes, record transactions or generate reports to monitor the performance for company. That’s a fantastic feature and a great idea that other cloud-based accounting software providers should implement.

The standard version allow you to record transactions, raise invoices and perform other day to day accounting operations. The next step is the Essentials that includes some additional features such as the ability to generate reports that show your financial performance and manage your supplier payments.

Finally, the pro version allow you to track stock levels and also be able to record your employees’ time that has been spent on a client which can be then used to directly bill this client. That’s a fantastic feature for professional services firms.

I think that the QuickBooks Online is a robust solution for small business owners and a rather inexpensive one. It’s been around for quite some time now (taking into account the desktop version as well) so it’s a tested product offered by a tested company. The only comment that I would make is that the three different versions might need to have the features balanced in a better way. I think the Essentials version should have the ability to track your stock and all versions should have the time recording feature as a standard one since more and more companies are billing per hour nowadays. 

Filed in: Accounting, Blog

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One Response to "QuickBooks Online Accounting Software – A Review"

  1. peter says:

    Good post, shame you don’t know who wrote it :(

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