Keeping your business finances in order is essential to monitoring the health of your business. QuickBooks is a powerful tool to keep your business finances in order. There are two main categories of QuickBooks, the Desktop versions and the Online versions. Here are three ways that QuickBooks Online outperforms QuickBooks Desktop.
1. Access from Anywhere
As a cloud-based software, QBO can be accessed through any internet connection. This makes it an excellent option for access across multiple devices. Once a user is added by email invitation in QBO, they will have immediate access to work within your business’ books. There are several options for access from read-only to restricted access to full accountant access. This makes QBO a great option for small businesses that hire a remote bookkeeper or accountant.
In contrast, QBD is installed locally onto a device. If the device crashes or information gets wiped from the hard drive, the information stored in QBD will be lost. Monthly backup files will need to be downloaded to an external drive or stored in the cloud as a precautionary measure.
2. App Integration
QBO has many more options for app integrations. App integration saves time by importing financial information from merchant services, inventory sites, etc. This is especially essential for e-commerce businesses that use PayPal, Shopify, Stripe, Amazon, etc.
3. Abundance of Automations
One of the biggest time-savers that QBO offers is automatic bank feeds. Each transaction will appear within the banking center when it is cleared in your bank and credit card accounts. Paired with the automation to create bank rules to categorize consistent transactions, this is a powerful tool.
The cloud-based technology of QBO can provide great value to your business. Driedger Bookkeeping would be happy to help you choose the right software to meet your financial record keeping goals. Contact us or schedule a consultation call to get started and don’t forget to subscribe to my blog!