QuickBooks Online is one of the most preferred accounting software that can help business owners overcome the major shortcomings of their business accounting even on the go. However, being a software, there are various pros and cons of the QuickBooks Online, that we will discuss in this post. QuickBooks Online is a web-based accounting solution devised by Intuit for small to mid-sized businesses. It offers better collaboration between the accountants and helps in yielding better business gains. Knowing the pros and cons of QuickBooks Online can help you to harvest the maximum of the QBO solutions while overcoming its main disadvantages. Let’s proceed!
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Pros or Advantages Of QuickBooks Online
QuickBooks Online is a leading-edge accounting solution that can help you to streamline your business accounting process. QBO has a huge user base who is remotely managing their businesses with reduced time and efforts and making the most out of their business. While discussing the pros and cons of the QuickBooks Online, let’s begin with the advantages:
Remote Access: Remote access to your company data records can help you manage your business accounting process anytime anywhere. Even if you have more than one business at different locations, you can manage them without breaking a sweat. You can easily switch between the companies and work in a better collaborative environment.
Payroll Automation: Payroll management is an essential task of a business process or company. Better-managed payroll operations not only keep your employees happy but is also important for the reputation of your business. The payroll automation in the QuickBooks Online can help you run your business payroll where tax calculation and check deposition are done automatically. Besides, automated reminders can help you avoid late payment penalties.
Integration: While discussing the pros and cons of QuickBooks Online, the ability of QBO to integrate with third-party applications is seamlessly important to address. QBO allows integration with banks, credit cards, and other accounting management software.
Expense Tracking: QuickBooks Online makes it easier to track your income and expenses. The tracking can be general or granular based on your specific requirements. You can categorize transactions into broad expense type for tracking. Also, expense tracking can help you to make more informed decisions for the betterment of your business.
Professional Invoicing: In QBO, you can get the free form for specialized products or service invoicing. The invoice forms are easy to use and can be shared as links or PDF.
Cons or Limitations Of QuickBooks Online
Now that you know the pros of QuickBooks Online, let’s discuss further the pros and cons of the QuickBooks Online and see its main shortcomings:
Limited Functions: If we compare QuickBooks Online with the Desktop version of the application, QBO has fewer features. When we make QuickBooks Desktop Vs Online comparison on the basis of the functions, the Desktop version surpasses QBO.
Perplexing User Interface: Many of the QBO users have reported that the application is quite perplexing, and it is difficult to learn using it proficiently. However, some people have said that the video tutorials placed on the QBO website can help them to make the utilization of the software a cakewalk.
Syncing Problems: While syncing with the credit card transactions, you may face difficulties in QuickBooks Online application. In addition, it may take a day or two to sync successfully.
Need Expert’s Opinion?
This post discusses the pros and cons of QuickBooks Online to ease your decision making. However, if you want to hear from experts, feel free to dial our helpline number 1.800.579.9430. Your dedicated QB professional will resolve all your queries related to the pros and cons of QuickBooks Online solution.