QuickBooks Online (“QBO”) has many features and advantages that many desktop-based programs do not offer. If you are interested in using the program, our Firm can offer our clients up to 40% off the monthly price. Please contact our office for further details.
Some advantages that QuickBooks Online offers over a traditional desktop accounting program are:
· You can easily access data across multiple platforms (PC or Mac, mobile)
· There is no need to transfer data files since everyone logs in to the same account to access
live data
· All data is hosted, backed up and secured by Intuit’s servers (no backups needed)
· Attaching supporting documents directly to each entry allows for greater collaboration and centralization of information
· You can automatically create invoices and send them to clients, including delayed customer charges for unbilled time and costs
· Logins, third-party activity, and list changes can be monitored using the Audit Log
· Reports can be emailed automatically to anyone (including those who are not using QuickBooks Online) using a scheduled frequency
· You can further organize data with both Class and Location tracking
· Bank and credit card transactions are automatically downloaded if you connect your bank or credit card account using online banking credentials
· Third-party apps sync to QuickBooks Online behind the scenes (i.e., without you having to actually open QuickBooks Online) since the apps sync to Intuit’s always-accessible server
· Post to multiple Accounts Receivable and Accounts Payable lines in a single journal entry
· Track inventory using the first in first out (FIFO) method.
