QuickBooks Online Or QuickBooks Cloud: Making a Choice
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?
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.
QuickBooks in the cloud simply means accessing the desktop version of the same software but on the internet. Users can enjoy the exact features of the desktop application coupled with the ease of cloud computing. Cloud technology comes with a slew of benefits that can benefit a business in a number of ways.
Pros of QuickBooks Cloud:
- The software can be accessed anytime and anywhere from any device. The feature of universal access is one of the most prominent features of cloud computing.
- Users can customize forms and reports as they like, which is not possible online.
- QuickBooks Cloud facilitates online bill payments, thus saving time.
- Purchase orders can also be created on the cloud version of QuickBooks.
- It is easier for users to switch from desktop version to the cloud than it is to transport data from the online version to the cloud one.
- Multiple user collaboration is a lot easier on the cloud. Up to 30 users can work simultaneously on the same sheet, as compared to the online version where at max only 5 users can collaborate.
- Users can also enjoy the tracking and reporting features available on the desktop version. This is not possible on QuickBooks Online.
- Users can try QuickBooks cloud for free for one month before making a decision. Thus, no initial payment needs to be made.
Cons of QuickBooks Cloud:
- Firms having more than 30 users may need to look for other platforms.
- It takes time for new users to understand the basics of cloud hosting. In the initial days, users may need to invest time and patience in learning how the cloud works.
- Firms may need to train their staff when switching to the cloud. Everything changes when a business shift from desktop software to the cloud-hosted one.
- When a firm moves to the cloud, its data is no longer in direct control of the owner. This may pose a concern for the owners. It is important for owners to choose their cloud hosting providers carefully to ensure complete security of their critical company information.
The Bottom Line: