Cloud Accounting solutions have grown highly popular among small and medium-sized businesses. Clearly, application hosting is not limited to the bigger firms anymore. Among all the accounting software available on shelves, the most popular one has been QuickBooks. Whether it is the early adopters of QuickBooks application or those who are new into the business, the question is still the same- what’s the best choice between QuickBooks Online and QuickBooks Cloud Hosting? my QuickBooks won’t open
Those who adopted the QuickBooks desktop in the 90s are often seen looking for an upgrade. Depending on the growing business needs, the business owners may feel the need to collaborate with a greater number of people. Thus, such a software may be needed that can meet the business needs smoothly.
How to Make a Choice between QuickBooks Online and QuickBooks in the Cloud?
Entrepreneurs have two options at hand. One, they can upgrade their existing QuickBooks Desktop application by taking it to the cloud and enjoy all the features alike. And two, they can switch to QuickBooks Online and enjoy a version that is slightly different from the desktop version.
Making the choice between the two can be made easy if the users are clear about the features they need mandatorily and those that they can afford to give up.
Let’s take up the benefits of each to help draw a clear distinction between the two types of software:
QuickBooks Online is most suitable for small and medium-sized businesses. Operated solely online, it allows its users to manage invoice and inventory, creating financial reports and evaluating them from time to time, accept and make payments, etc.
Pros of Using QuickBooks Online:
- It can be learned easily by watching a few online tutorials.
- Work can be done collaboratively by five or less than five users at the same time.
- Small businesses can benefit the most from it.
- It allows businesses to customize their invoice and email formats.
- QuickBooks Online stays in your pocket as the dashboard can be accessed on a Smartphone as well.
- Users can integrate their accounts with third-party applications for ease of operation.
- It can be accessed on any device. Users do not need to install specialized software on every device to access their books online.
- The pricing is done on the pay-as-you-go basis. Users pay a monthly fee and a surcharge for any extra feature.
Cons of Using QuickBooks Online:
- In order to include payroll, users need to pay extra. QuickBooks Online does not offer payroll free of charge.
- Being available only via the internet, users cannot access their work files online if their internet is not working.
- Project management is not possible with the online version. Users need to invest in separate software for project management.
- Even though Intuit claims it is easy to learn, for beginners it may still feel like a bumpy ride. A lot of practice and time is required to get used to the functions and familiarize yourself with the entire process.
- Instead of paying on a monthly basis, users had to pay upfront for the desktop version and that too only once.
- It is not easy to transport data from the desktop version to the online one.