Is your small business ready to begin using QuickBooks®? QuickBooks is the top-rated solution to help you organize and keep your small business’ books in order. Now that you’ve decided to get some great software help, you might be stuck trying to figure out if you should use QuickBooks Online (QBO) or QuickBooks Desktop (QBDT). Before you make your decision, Money Matters has a few tips to help you decide.
QuickBooks Online (QBO)
Both QuickBooks Online and QuickBooks Desktop are great, but you can differentiate the two of them by understanding that the online version is cloud-based and the desktop version is locally installed after the user pays for a licensed version. Because QBO is cloud-based, you can access it anywhere with internet access. Can’t sleep at 3AM and want to check the books? QBO makes it easy to do so, even from your phone using the QuickBooks app, because all the information is synced. Because it’s cloud-based, security is provided by Intuit (the owner of QuickBooks).
QBO offers automations that can noticeably increase efficiency thereby reducing the amount of time you need to spend in front of your computer every month. If you aren’t incredibly familiar with the software, these automations can be helpful. QBO is also easier to learn and use than QBDT—making it a great option for beginners or small businesses owners who don’t have a ton of time to spend training on .
Cost: With QuickBooks Online, you pay monthly, or annual, for your subscription.
QuickBooks Desktop (QBDT)
QuickBooks Desktops requires small business owners to purchase a license and install the software on a local computer or local server It isn’t cloud-based; however, cloud hosting services are available and Money Matters can help you with this as well. Installing on your local computer or local server will also mean you need to take security measures to protect your data from ransomware and other attacks.
QBDT comes standard with many great features, including robust inventory management abilities. visually speaking, QuickBooks Online is visually different from QuickBooks Desktop, providing multiple ways to find what you’re looking for, so you’re not stuck having to remember the one (and only one) way to find what you might be looking for in QuickBooks Desktop, which makes for a steeper learner curve than QuickBooks Online.
Cost: Depending upon the version of QuickBooks, you may only need to pay once, every three years, annually, or monthly. .
Which is Best for Me?
Still wondering which option is best for your small business? If you want a quick accounting solution that’s easy to learn and that you can access remotely anytime, opt for QuickBooks Online. Choose QuickBooks Desktop if you have a more complex accounting process that requires more developed, extensive features.
If you are still unsure which to choose, Money Matters can help you decide. Give us a call at 320-333-8381.
