Did you know that QuickBooks Online isn't just the online version of QuickBooks Desktop? This is a common misconception and couldn't be further from the truth.
Each option has several advantages, and this guide will explain the differences. Remember that both products are acceptable alternatives for small-to-medium-sized businesses, are double-entry accounting software, and offer automatic upload from bank and credit card accounts.
They are owned and operated by Intuit, a huge global conglomerate with $12.7 billion in revenue in 2022.
Intuit also owns Mint, Credit Karma, Mailchimp, and TurboTax, serving over 100 million customers.
QuickBooks Online, or QBO, was set in motion in 2001. Launched prior to the cloud-based era, QBO quickly gained popularity and is now the most widely used online accounting software available.
With a streamlined user interface, this web-based technology is an excellent option for business owners who want to work from any device, anywhere, with internet service.
QBO has four plans to choose from, with no contract required.
Plans are Simple Start, Essentials, Plus, and Advanced. All of these include a full accounting platform but also offer mileage.
Significant benefits include the following:
QB Desktop is a flow chart interface and is a good option for companies that need a more involved inventory process.
Each category of accounting shows centers where you can access the various transactions. For example, there is a vendor, inventory, and customer center; within each are the different ways to manage that operation.
Key elements are:
If you are in charge of accounting or want to stay up with what is happening in the books, but are often out of the office, QBO is probably your best bet.
Additionally, if you prefer a monthly billing that you control, QBO offers this over the Desktop program. Desktop is more of a traditional software and is better for a niche trade like non-profits or construction, particularly those with more inventory needs.
Both are great choices, so consider your budget, and what major advantages appeal to you the most. Backed by years of accounting software experience, the Intuit company knows about technology.
This means you get a quality product with QBO or QB Desktop.