QuickBooks is the most popular cloud-based accounting software. This can handle the financial section of the high-level business to startups. QuickBooks core versions can broadly be classified as QuickBooks Desktop and QuickBooks Online. The most common types of QuickBooks Desktop are QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise, and QuickBooks. QuickBooks Online offers five versions of QuickBooks they are QuickBooks Self Employed, QuickBooks Simple Start, QuickBooks Essentials, QuickBooks Plus, QuickBooks Advanced. All these versions provided by Quickbooks have different features, functionalities, advantages, and disadvantages. Now let us check which one is the best.
QuickBooks Desktop is an accounting software like an ERP solution. It also has add-ons and QuickBooks Desktop Enterprise industry editions. Add-ons include Integrated QuickBooks, Intuit Payroll, CRM(Customer relationship management) software, and AP automation software applications. QuickBooks Desktop version is mainly for invoicing customers, paying bills, generating reports, and preparing taxes.
Advantages of QuickBooks Desktop Vs QuickBooks Online
- It offers industry specific editions in its Enterprise version.
- QuickBooks Desktop has many features such as inventory and job costing features and discount by customer name.
- QuickBooks Desktop can provide more extensive reports while compared with QuickBooks Online.
- It adds more customised features, particularly with the enterprise.
- QuickBooks Online Advanced is for a maximum of 25 users Vs 40 users for Desktop Enterprise.
QuickBooks Online software is a cloud accounting solution. This is commonly used by CA, Bookkeepers, Small Business owners and more. Chartered Accountants and Bookkeepers use this software to fill GST returns for clients. It also helps CAs to generate GSTR reports and GST compliant invoice. QuickBooks is an easy to use software for small businesses. QuickBooks Online can help small businesses in managing account data anywhere at any time, Input Tax Credit, Auto find tax rates and calculate taxes, Create and send GST ready invoices and more.
Advantages of QuickBooks Online Vs QuickBooks Desktop
- QuickBooks Online is a cloud based software usable anytime and anywhere with an internet connection and login and no server required on premises.
- QuickBooks Accountant(QBO) mobile application provides more features.
- This can restore data files.
- It also includes free customer support. But some of the Desktop versions provide only paid customer support.
- QuickBooks Online includes automatic backups and update features.
- QuickBooks Online includes add-on features using another application called AP automation.
- AP automation software for QuickBooks Online is chosen as per user requirements such as streamlined and automated workflows, global batch processing of payable payments, automatic payments reconciliation, fewer labor needs, better cash flow management and fraud risk reduction.
Similarities and Differences
Both QuickBooks Desktop and Online offer features such as Expense tracking, Strong accounting features, hundreds of integrations, invoicing, Contact Management, Inventory, Time Tracking, Project Management and more. But it provides more job costing features while compared with those in QuickBooks Online. Also this offers job costing with its plus and advanced plans. Quickbooks Desktop in the cloud allows the user to access the complete functionalities available in the desktop version, while the online version gives you limited functions.
As a conclusion, QuickBooks is a fully featured with tools for accounting, inventory, payroll, tax filing, invoicing, Bank account tracking and reconciliation, accounts receivable and accounts payable management, Expense Management and Payable Management. It also provides robust features and user friendly interface. So it will be an ideal choice for small businesses. On the other hand Quickbooks Desktop is best for businesses that prefer advanced inventory tracking, job costing or reporting tools.
QuickBooks considering as the best accounting software for entrepreneurs and startups. To use QuickBooks software more efficiently and conveniently, get a Quickbooks certified course. QuickBooks can present a bit of a learning curve for individuals new to the software. For employees who are familiar with accounting concept and similar software, Quickbooks is relatively easy to learn.
We at Finprov aim to help you through the process and support you in achieving your goal of becoming an accounting professional. Through this learning experience, we aim to build the accounting professionals of tomorrow. The QuickBooks courses provided by Finprov are QuickBooks Online, certification in QuickBooks and QuickBooks and TallyPrime with certification. These courses make candidates familiar with accounting software QuickBooks and the functionalities of QuickBooks.
The other accounting and financial courses provided by Finprov are PGBAT, CBAT, CMA USA, CA Foundation, PGDIFA, Gulf VAT, GST, SAP FICO, DIA, and CHRPP(HR payroll processing) and more. These courses are provided to learners by the best trainers and with the best technical support. The practical training program supports learners to achieve the best in their careers.