QuickBooks Online

Avantages

Easy to use whether you have no accounting experience or you are a pro.

The user interface is logically laid out so you can get where you need intuitively.

Between the very complete built in functionality and a robust App Store of add-ins for specific needs it Quickbooks Online can provide a solution to any accounting need

You can go it alone or seamlessly incorporate external accounting services depending on your strengths, comfort level and desire to directly engage in specific accounting processes

It’s cloud based so you do not have to deal with local computers and storage that have to be maintained and backed up to secure your business critical data. This also means your can access your data from anywhere you like.

Two step verification for log in so your data is very secure.

The Quickbooks Online mobile app is excellent and lets you input receipts and expenses easily and immediately so you never get behind.

Inconvénients

I had very few issues. Mostly surrounding my inexperience with accounting. It would be nice if Intuit would have some General Accounting Practices videos to get complete accounting novices up to speed on the basics like setting up a book of accounts and how to categorize expenses properly.

Avantages

It's wonderful to have access to our accounting system from any Internet-connected device. Integration with our Service Management System (RazorSync) has allowed us to turn Service Orders into invoices and send them via QuickBooks Online quickly and easily, which has absolutely improved how quickly we get paid on jobs. The Payroll module makes it easy to pay our employees and calculate the necessary withholding and taxes due.

Inconvénients

The reports in the Online version are clunky and horribly limited. Recently Intuit modified what was included in the package we were in and limited the number of accounts we're allowed to have in the Chart of Accounts without paying a higher fee, so we're stuck not being able to add new accounts unless we want to go to the "next tier". Last year we needed to reprint some older tax forms that weren't showing up so we were forced to contact support for assistance. We finally got what we needed done but it took contacting two different support reps as the first one obviously wasn't familiar with the product and made changes to our accounting data that had to then be fixed by the second rep.

Avantages

Good tutorials available, auto-banking transaction download (though it does not work for some banks or credit unions in BC) is a great feature, easy to MATCH or TRANSFER funds. Easy to set up bills and to invoice out of the program.

Inconvénients

A little bit glitchy - sometimes fields get lost, or report titles get shifted and cut-off. Multi-currency requires the user to go online externally to grab exchange rates. It's confusing to issue customer refunds. The tax module (GST, PST) works okay. Bank reconciliations are difficult when there's anything done out of the ordinary, whereas a manual reconciliation would get the job done quicker.

Avantages

Quickbooks online has allowed our organization to update, modernize, and change the way we approach our finances. Within a few months, we moved from a fairly archaic book keeping system to one that is completely modernized, online, and easier to use. Our whole team has saved time and frustration after making the change to QBO.

Changing to Quickbooks online has helped us to improve our record-keeping, issue payments faster, made it easier for us to prepare for an annual audit, and provides many different options for planning, budgeting and reporting for a Board of Directors.

With a small team, we are very appeciative of the Help features and online support available.

Inconvénients

The only issue I have run into so far with Quickbooks Online is that there is a limit to the number of automatic reports that can be generated. For example, we would love to have the option to pull a variance report automatically from our records. Luckily, Quickbooks Online does provide you the features needed to build custom reports - so we got what we needed with a little bit of work.

Avantages

I like that you can log into the software from any location. I like that I can talk to my clients while both of us are using the software in real time.

Inconvénients

I do not like that QBO is constantly increasing their rates. They have made the software substantially more expensive since they came out with the product. Every feature of the software is now an additional charge.