QuickBooks Desktop vs. QuickBooks Online — which one should you be using? This is a hot topic that we have been discussing with many of our clients. While there are certainly pros and cons to each, it should be noted that the software industry as a whole is beginning to follow the online trend. Now that QuickBooks is promoting the online version as their primary offering, it’s time for you to consider switching over too. Change is hard, we get it, but upgrading to QuickBooks Online is quick and easy. And we can help.
Here are the top 5 reasons why you should upgrade to QuickBooks Online today
- QuickBooks Desktop will be phased out, and you should not wait until the last minute to switch to the online version.
QuickBooks has recently reduced the number of desktop versions it has available for sale on its website and is now promoting its online version as its primary product. Around 80% of new QuickBooks users are now choosing the online version, as Intuit is openly pushing consumers to subscribe to the cloud. That number is only expected to increase until the desktop version eventually loses all or most of its market share. At this rate, QuickBooks Desktop will soon be phased out. At MGA, we strongly advise you to allow yourself the time for a smooth and seamless transition by upgrading today.
- QuickBooks Online allows you to connect your bank accounts, credit cards, online bill payments, and receipt repositories. This reduces the amount of keying and ultimately improves the accuracy and timeliness of your accounting.
The major drawback to QuickBooks Desktop is that it requires all transactions to be manually processed, including bank transactions, bills, receipts, etc. The online version, however, has multiple solutions for automatically downloading things like credit card charges and bank transactions, which are automatically matched to receipts from cloud receipt services, leaving you with less manual work and the peace of mind that your accounting is always accurate and current.
- QuickBooks Online has a vast selection of add-ons that are industry specific, allowing you to save time and money.
While QuickBooks is a powerful tool, sometimes it doesn’t always do everything a business needs it to do, which is where add-ons come to the rescue. Numerous third-party developers have created online services that integrate with QuickBooks to address particular problems. These add-ons are part of your accounting system (syncing directly with QuickBooks Online) and help you maintain operational records, develop management reports, manage inventory, and much more. Unlike QuickBooks Desktop, QuickBooks Online allows you to easily and seamlessly integrate with third party apps. Similar to how your smartphone has an app store, this makes the sky the limit.
- With QuickBooks Online, you no longer have to send those awful accountant’s copies. Your accountant now has access to the system and can view your financials as soon as you give him/her the green light that you are closed.
One less thing for you to manage! In the online version, there is a tab labeled “My Accountant” which allows you to communicate with your accountant all in one place. You can receive and respond to requests for documents or additional information, share and download documents directly, view specific due dates and details, and much more.
- QuickBooks Online is in the cloud, meaning that you don’t need a server to operate the software.
If you have a server and want to ditch it, you can. If you don’t have a server and don’t want to buy one, you don’t have to. There are even storage options that allow you to download directly from QuickBooks Online to cloud storage, saving you valuable file space on your server or in your office. With the online version, you also have the freedom of remote access which allows you to access reports from multiple devices as long as you have internet access.
QuickBooks Online is just better, hands down
It’s no secret that Intuit is currently investing more in its online products than its desktop products. As a result, its online offerings will only continue to get better and better. The same goes for third-party developers, as the market for add-ons for the online version is rapidly expanding. Without a doubt, for your internal communication, for your communication with your bookkeeper or accountant, for improving accuracy and timeliness, or even for saving money on file transfers and hosting, an online software solution is better in many important ways.
Ready, set, go
At MGA, we recommend consulting with your bookkeeper or accountant before making the transition from QuickBooks Desktop to QuickBooks Online. If you’re not ready to move over today, keep in mind that you will most likely have to make the change at some point in the future. We know the transition can seem challenging, but don’t let that hold you back. And remember, we can help make the process smooth and seamless.
Reach out to your team at MGA today for any questions or concerns you may have.