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Quickbooks: Why It Is The Best Accounting Software for Businesses?

Small businesses benefit from the accounting software as it enables them to track taxes, accounts receivable, invoices, and accounts payable, gives them a transparent understanding of the profits, and stays prepared for the upcoming tax season. Since businesses have to think out of the box to remain in the market and as the company grows, the need for accounting also increases.

Out of all software, the best one you will find in the market to fulfill your needs is Quickbooks. Quickbooks is available in both Online and Desktop versions to fit business owners’ requirements. It not only helps small business owners but also retailers, restaurant owners, and many others. Corrupt or damaged program files are also sources of problems with QuickBooks won’t open company files. Since businesses have to think out of the box to remain in the market and as the company grows, the need for accounting also increases. 

You can find tons of software in the market to manage company finances but not all are efficient and affordable. Usually, two factors help users to choose accounting software, the industry type, and employees numbers. For example, if you work as a freelancer, then you would need features in the software as a factory owner.

Let’s explore the best accounting software for businesses i.e Quickbooks, from its features to pricing, everything is explained in detail to help you analyze both desktop and online software better.

QuickBooks Online: Features 

  • Attach documents signatures, images, and transactions from desktop and mobile.
  • It is easy to schedule and send transactions automatically.
  • Using audit logs to monitor alterations and review actions.
  • Track by location.
  • Error fixes to repair Quickbooks won’t open
  • Extra-label options in order to relabel your customers.
  • Automatic bank transaction
  • Option of undoing.
  • Feature of custom banking rules through class, percentage, dollar value, and location.
  • Automatic add bank rule.
  • Unlimited time tracking.
  • Unlimited users reports.
  • Delayed credits and fees can be automatically scheduled for coming transactions.
  • Management reports. 
  • No issues like Quickbooks won’t open.
  • Journal entries with numerous AR lines as well as AP lines are possible.
  • Multiple budgets. 

QuickBooks Desktop Features

Usually, QuickBooks Desktop can beat QBO in managing job costing by handling inventory in bulk. So, retail stores can go for this solution without thinking.

Also, there are multiple features in the Quickbooks Desktop that are unavailable in QBO. In case, you need the features mentioned below then go for QB desktop only.

Data Entry Features

  • Create batch invoices
  • Billing rate levels
  • Enter batch transactions
  • Enter batch timesheets
  • Pay vendors online with the help of ACH

Job Costing Features

  • Job costing module
  • Mileage tracking
  • Payroll job costing
  • Labor burden costing
  • Change orders based on estimates
  • Markup column

Reporting Features

  • Industry-specific reporting
  • Numerous vendor ship-to addresses
  • Class balance sheet
  • Forecasting by class
  • Business planner
  • Enhanced customization of header and footer

Inventory Features

  • Handle inventory reorder 
  • Valuation method for inventory average cost 
  • Sales order
  • Purchase orders
  • Build assembles 
  • Manufacturing features
  • Availability to promise
  • Unit of measure

Accounting

  • Condense file
  • Backup & restore option when Quickbooks won’t open
  • Client data review features
  • Period copy
  • Undeposited clean-up funds 
  • 1099 feature
  • Fix unapplied credits 
  • Fixing unapplied payments
  • QuickBooks statement writer
  • Fix sales tax
  • Post to all AR/AP accounts

Pricing of Quickbooks Online and Quickbooks Desktop

The deciding factor for you to choose from two models is “Pricing”. Both Online and Desktop have different pricing based on their features and tools. Where QBO can be bought on a monthly subscription, on the other hand, for the Desktop you have to pay for an annual subscription.

What QB Online Offers

  • Simple Start: Plan starts at $25 for a month (One user).
  • Essentials: The plan starts at $40 for a month (Three users). 
  • Plus: Cost- Plan starts at $70 for a month (Five users).
  • Advanced: The plan starts at $150 for a month (25 users).

Additionally, you get a free 30-day trial, which can help you use the software without any charge. After that, you can decide if it suits your industry and requirements.

What Desktop Quickbooks Offers

The pricing of the QB desktop depends on the type of plan you choose. However, all plans are annual subscriptions basis making it more affordable than the online version.

  • Pro: (Better for smaller businesses finding an accounting solution for beginners. This plan supports upto three users and can track expenses, income, inventory, and invoicing.
  • Premier: It supports up to five users and offers incredible features for specialized businesses such as Manufacturing and Wholesale, Retail, General Contractor, and Nonprofit. For industry-associated and functionality accounting, Premier is ideal.
  • Enterprise: This plan is perfect for businesses that are in a growing phase. It supports upto 30 users along with powerful features such as enhanced pick, pack, mobile barcode scanning, and ship. You also won’t face any Quickbooks won’t open issues.
QB Desktop Cost
  • Online Essentials: For 3 Users at $420
  • An Online Advanced: For 25 Users at $1,575
  • Online Plus: For 5 Users at $735
  • Desktop Premier: For 5 Users at $499
  • Desktop Pro: For 3 Users at $299
  • And Desktop Enterprise: For 30 Users at $1,213

Pros and Cons of QBO 

Still, having trouble deciding which one to pick? Now, look into some advantages and disadvantages of both QB desktop and QBO to remove all your doubts. Let’s start with QBO first.

Pros Cons
Accounting professionals value it. Several upgrades are recommended for more users.
Scalable. The subscription is not cost-effective.
Integration with a range of applications. Syncing difficulties in payments via cards.
Mobile app. Industry-related functions can’t be found.
Cloud accounting. Instability due to system crashes.
Enhanced business accounting tools. Limited users.
Easy interface. File size problems.
Great payroll support. Limited transactions.
Contacts records also. Less invoicing tools.
Cash flow pages. Prone to errors.
Simple customizable reports. Software lags sometimes.
Cloud-based. Limited plans.

Pros and Cons of QB Desktop

Pros Cons
Enhanced customizable features. Can be expensive.
Handle payroll, banking, accounting easily. Unhelpful and low customer service.
Simple usage and setup. Can’t log in remotely to your account.
Reporting and job costing features are impressive It can show problems in annual updates.
Manages Inventory. Less automation. 
Sales Order. Windows only.
Easy interface. File size issues.
Proactive payroll support. Limited transactions.
Contacts records also. Less invoicing tools.
Cash flow pages. Prone to errors.
Flexible customizable reports. Software lags.
Cloud-based. Limited plans.

Picking The Right Quickbooks Version 

Now, after analyzing all important points, let’s briefly understand who should choose QBO and who needs to go for the desktop version. 

Who Should Go For QB Desktop:

  • Businesses having a permanent location.
  • Companies that need access to fewer members.
  • If your store or company involves difficult accounting.
  • Companies wanting to save monthly costs.
  • If you don’t want your books to be accessed online.
  • When your business requires advanced features such as spending and monitoring budget.

Who Should Go For QuickBooks Online:

  • If your business wants remote access and international invoicing.
  • When your company files and data need to be accessed by multiple people.
  • Businesses having no issues in paying the monthly costs with more support.
  • When your company wants to keep all data online in cloud computing.
  • Companies that are interested in exploring automation.

Final Words

Now you might have got a crystal clear idea of how Quickbooks is the best accounting software for your business. Both desktop and online versions offer powerful features and impeccable tools to help users having different business types and sizes. This detailed comparison will clear your doubts on which one to choose based on integrations, features, pricing, ease of use, pros, and cons.

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