Intuit is a strong brand in the SaaS industry that has also produced the well-known desktop software QuickBooks Pro. This accounting tool is used by small to medium enterprises worldwide and has been around for almost 15 years. You can now use the QuickBooks online version from your iPhone, your iPad or your android phone. This move is in line with 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.
Cloud-Based Accounting Software
The problem with QuickBooks Pro is that it’s 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 offered as cloud-based, Intuit launched QuickBooks Online Accounting.
The recently revamped QuickBooks Online user interface has a sleek design. It has a left-hand sidebar that allows users to view all their reports, transactions, supplier and employee information. The developers have selected functions frequently used and have placed shortcuts for them on the dashboard’s front page. 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 are details of the bank account and recent account activities.
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 essential tasks for completion.
QuickBooks Online is easy to navigate around, and the interface suits touchscreen devices. Larger buttons and a precise navigation bar ensure 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 daily.
QuickBooks Online on the go
Users who wish to view their accounts through a mobile browser can do so quickly, either on a tablet or smartphone. QuickBooks Online allows users to perform basic accounting tasks such as creating invoices and raising quotes through iOS and Android version apps. This means that business owners can now take care of their accounting while on the go. By viewing 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 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. The pus version can integrate different tools with your inventory and help track products and cash flow. It’s worth noting that the online version does offer all the features of QuickBooks Pro.
Since the first release of QuickBooks Online, some of the quirks in the system have been addressed. Now, users can move their documents from the desktop to the online version using an addon. You can also add stock and inventory control along with a payroll system. Although there is an ongoing development of cloud-based accounting solutions, QuickBooks Online is a helpful tool that can allow small business owners to complete accounting tasks efficiently, whether at home, in the office or on the go.
QuickBooks Online Versions Comparison
The Basic Version allows one user, the Essentials three users and five users for the Pro. I don’t know the rationale behind this decision, but limiting the PRO version to five users might be a disadvantage. It’s true most small companies do not have more than five people recording transactions. But still, I don’t see the reason for this limit.
A significant feature that all versions offer is that you can give free access to your accountant. This enables your accountant to tidy your books, do your taxes, record transactions and monitor your performance. That’s a fantastic feature and a great idea that other cloud-based accounting software providers should implement.
The standard version allows you to record transactions, raise invoices and perform other day-to-day accounting operations. The next step is the Essentials. The Essentials package includes some additional features, such as generating financial reports and managing supplier payments.
Finally, there is the pro version. This version of QuickBooks allows you to track stock levels, record employees’ client time, enabling direct client billing. That’s a fantastic feature for professional services firms.
I think that QuickBooks Online is a robust solution for small business owners and a relatively 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. I would make the only comment that the three different versions might need to have the features balanced better. 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.