QuickBooks Online for Small Business Owners & Accountants
QuickBooks Online for small business has been the leading accounting software among those being used by people in multiple countries. There are millions of users of the Desktop version in the United States alone. Since its QuickBooks Online version launched, that number grew even higher.
The growing technology has encouraged users to take advantage of this software through the comfort of any device to complete the financial tasks for their businesses. This is a form of Software as a Service or SaaS, which is helping users make the most of QuickBooks through the ease of an online edition.
Using QuickBooks Online has its share of advantages and drawbacks, so it is up to you and your requirements to make a decision for your business. As a business owner, you might appreciate the functionality and value that this software brings to your organization.
Perhaps the best thing to note about this version is that you do not have to install any software on your desktop or device. Rather, you just need access to the internet in order to access this application online. With such access, you no longer have to worry about updating again and again but have to subscribe to use the latest services on an annual or monthly basis.
QuickBooks Online for Small Business – The Advantages
This version of QB has a fair amount of benefits for those who are looking for an online accounting solution:
- One of the main advantages of using this is the ability to using this software as you go. This means that you are no longer tethered to your office or your desktop in order to use QB. If you have to travel on a regular basis or have to complete these tasks whenever you find the time, then this software will be of great help to you as a business owner.
- QuickBooks Online for small business is a great choice for businesses whose employees are spread across various locations. Your company may involve workers or contract-based partnerships working from different places. In such a case, they will be able to access the information from their current location and stay in communication with you without having to travel back and forth between places.
- If you have employees or independent contractors on an hourly basis, then they can fill out the timesheets by logging into the online system for a limited period of time. After that is done, you can proceed to generate their payroll, make payments and import transactions accordingly. To get help to import transactions into QB online, contact our team.
- It is very convenient to consult your accountant and share your data with them through QBO. You can both log in from your respective workplaces and work on your taxes together at the same time. This will help you to spot errors and correct them in time, thereby reducing the amount of confusion.
- Your data will automatically be secured as it will be stored and backed up on the cloud. The backup will be stored offsite as well. In addition to this, your costs will be reduced as instead of buying the software license for a hefty price, you only have to pay monthly or annual subscription fees which are substantially lower.
- There is no need to set up or install anything on your hard disk. As for gaining access online, all you have to do is follow the steps as the wizard guides you and complete the online setup. It is also easier to consult fellow QBO users about anything that you might be finding difficulty in, via a widget that shows on the QBO screen.
This accounting software version is equally useful for a professional accountant as well and not just the business owners. The accountants can use the QuickBooks online accountant login and make use of the features that they want.
That said, there are a few drawbacks the users may experience with QuickBooks Online for small business. Some of these include a lack of certain functionalities that are offered in Desktop. One of them is the ability to track the inventory of your shop or company.
If you are the owner of a startup or an independent entrepreneur, salesperson or a professional who would prefer to collaborate more easily with your accountant from time to time, then this software has advantages that you cannot ignore.
For any confusion about the features of this application, let us know and our experts will explain them to you.