QuickBooks Online – Advantages of Cloud Based Accounting

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.