QuickBooks Online is No Longer the Redheaded Stepchild to It’s Older Sibling QuickBooks Desktop.
Just a few years ago that QuickBooks Online was considered to be one of the less robust online accounting software programs. However, a few years ago Intuit began divert more and more resources away from the desktop version. Since then, it has transformed into a powerful tool for small business owners.
Here are just a few of the great features making it the preferred cloud accounting software for American small businesses:
Ditch the Shoebox
Make tax time a breeze and attach your receipts, statements, and w-9s directly to the related transaction within the program. The QuickBooks Online Mobile app makes attaching receipts as easy as snapping a picture. Or you can upload images from your pc or cloud storage. No more searching for receipts or filing them (whatever method you use).
Oh, and your tax accountant will be very happy with you!
Automate, Automate, Automate
Do you have clients that pay the same amount every month? Are you on a payment plan with set amounts with any vendors? I know there are at least three reports you look at on a regular basis (If not, refer to my previous article). By automating these tasks in QuickBooks Online you will have more time to spend on the things you want to do.
There’s an App for That
No program is 100% perfect for everybody but by tapping into the 400+ (and growing) apps that integrate with QuickBooks Online, this one comes close. There are apps from well-known companies like PayPal, Shopify, and Constant Contact. But there are also great apps available from lesser-known companies to help with time tracking, inventory, appointment scheduling, budgeting, presentation level reports, and on and on. Visit the app store to see what you can use to streamline your workflow.
Follow the Yellow Brick Road
Well in this case follow the Audit Log. According to the Association of Certified Fraud Examiners 30% of fraud cases occurred in small businesses. That is because they are less likely to have internal controls in place. Well, QuickBooks Online is coming to the rescue! Reduce your exposure to fraud simply by reviewing the audit log on a regular basis. Perhaps when you review those three important financial statements I mentioned earlier in this article. Watch this video to see how easy it is to find out who is doing what in your company file.
Heigh Ho, Heigh Ho, It’s Off to Work We Go
The projects tab is a perk for Quick Books Online Plus users. The projects feature helps you organize every aspect of your project, so you always know where you stand with all your jobs. Connect invoices, expenses and transactions to each individual project. View your open jobs to see where you’re spending your time and money. Track time and expenses. View outstanding payments and unbilled work. And most importantly, understand the profitability of each project with four (4) custom reports. Talk about a bonus!
QuickBooks Online Rises to #1
Intuit recognizes that it has a way to go and is constantly striving to improve its product. That being said, several sources now rank QuickBooks Online as the #1 preferred cloud accounting platform. When Business.com surveyed their readers as to which accounting software they currently use, 55% reported using QuickBooks Online. With the features mentioned above and the many others not mentioned, it’s no wonder PCMag.com’s study reported QuickBooks Online as the overall best cloud based accounting software.
If you haven’t considered moving from a desktop program (or worse, Excel), perhaps now is the time to join the growing number of QuickBooks Online users who have gotten out of their books and back to running their business. If you want to learn more about the program or are ready to take the leap and want help with selecting the right version for you, let me know. I would be happy to help.