Quickbooks Online Review: Pros, Cons, Costs, and Problems
My recommendation for your accounting of small business sales and expenses is Quickbooks Online by Intuit. There are many good software programs for entrepreneurs, but this one won my vote due to the ease of use, flexibility, and features. Starting your own business is hard your accounting software does not need to be. The parent company Intuit has been in finance software for over 30 years and was started with the premise that there should be an easy way to do small business accounting tasks.
After studying all the popular software for accounting, Quickbooks is the most affordable and best value for the cost. There are multiple choices for types of accounts from single-user and one company to multiple user and multiple companies. The types of businesses that this software is great for are small businesses of all kinds, including freelance workers, self-employed individuals, consultants, retail stores, restaurants, and professional service firms. Starting at under $10 per month, every business owner can find a plan that fits within their budget.
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Do not let its clean interface fool you into thinking that it is not robust fully-featured accounting software. It is a real double-entry accounting system with a full roster of reports, capable chart of accounts, invoices you can customize with your company logo, inventory management (in certain editions), international currency and hundreds of other features that will make your accounting work easier and more accurate.
Remote Access for Team Collaboration
This is what makes a good software product great. The ability to allow multiple users, from different departments such as billing, bookkeeping, and sales, to be able to enter their expenses and sales from their location, ensures accurate and timely data entry.
Another advantage of purchasing online software is that the manufacturer is constantly updating and improving it on your behalf. No need to upgrade the software and reinstall it on your desktop.
Automation of Tasks – Backup are done in real-time.
Easy to Use and Learn
The opening screen, referred to as the dashboard, is well-design with intuitive icons for different types of tasks such as invoicing, billing, payment collection, check reconciling and expense entry. The Account section looks like a standard business logbook and checkbook helping it to feel familiar to users immediately.
All software is only as good and the support behind it. Inevitably you will have questions and you will need those answered to make full use of the program and to conduct your business properly. Quickbooks gives you support directly from within your Quickbooks Online dashboard by multiple methods such as phone, email or chat. Additionally, there is an extensive training center named Learn & Support consisting of a broad knowledge base of information, their blog, and a community center.
There are no perfect accounting software systems, so like all solutions, this Quickbooks has some downfalls. Namely, their time tracking and project management modules are not as robust as other software online. However, most firms that need specific software for these functions will be best served to use dedicated stand-alone programs for these purposes.
Also if you have been using the desktop version and want to switch to the online version of Quickbooks you will find that all of the features are not available in the online version. Check that the functions that you use are included in the online version of the software before switching over.
Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.