QuickBooks Online is becoming very popular, and for good reason. I’m going to discuss some of these reasons, as well as some of the drawbacks. First of all you can have access to your data from a number of different devices. So you can access through browser, tablet, or even your phone. Mobile access is available at no additional cost, but the number of functions that you can accomplish on your phone is not as extensive as through browser or tablet.
For those of you accustomed to purchasing and owning the software, this is a change. With QuickBooks Online, instead of a fixed purchase price, you pay a monthly fee for the service. There are other options that you can discuss with your trusted ProAdvisor (me) which can make good financial sense. However, unlike with the Desktop versions, Online is consistently updated for all changes so there is no need to be concerned with having the latest version.
All of your information is stored in the cloud, so always making backup copies is a thing of the past. I know that many of you may be concerned with storing your company’s financial information in the cloud but just think about the way you currently do business. Are there papers left on someone’s desk with sensitive information for anyone to see? When you make a copy on a portable storage device left lying around unlocked, this becomes another source of possible information theft. Are you sure that the four drawer file cabinets containing sensitive information are always locked? Probably not!
Finally, you can invite up to two accountant users at no additional charge. When you do that, your ProAdvisor, bookkeeper, or CPA will be able to assist you in real time without the old “Accountant Copy” shuffle. Obviously, there is much more to talk about, and I will continue in future posts. Stay tuned!
About the Author: Ron Miaso, one of the QuickBooks Yoopers, is a Certified QuickBooks ProAdvisor in Desktop and Online and before forming Delta Business Solutions was a Senior Finance Manager in the auto industry where he managed a $500 million annual operating budget and helped develop long range business plans.