QuickBooks Online or QuickBooks Cloud: Make a Choice

Cloud accounting solutions have become very popular with small and medium-sized businesses. Clearly, application hosting is no longer limited to the largest companies. Among all the accounting software available on the shelves, the most popular has been QuickBooks. Whether you are an early adopter of the QuickBooks app or those who are new to the business, the question remains the same: which is 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 growing business needs, business owners may feel the need to collaborate with more people. Therefore, such software may be required that can meet business needs smoothly.

How to choose between QuickBooks Online and QuickBooks in the Cloud?

Entrepreneurs have two options at hand. One, they can upgrade their existing QuickBooks desktop app by taking it to the cloud and enjoy all the features equally. And two, they can switch to QuickBooks Online and enjoy a slightly different version than the desktop version.

Choosing between the two can be easy if users are clear about what features they absolutely need and what features they can afford to give up.

Let’s discuss the benefits of each to help make a clear distinction between the two types of software:

QuickBooks Online:

QuickBooks Online is best suited for small and medium-sized businesses. Operated solely online, it allows its users to manage invoices and inventories, create financial reports and evaluate them from time to time, accept and make payments, etc.

Advantages of using QuickBooks online:

• It can be easily learned by watching some tutorials online.

• The 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 companies to customize their invoice and email formats.

• QuickBooks Online stays in your pocket, as the dashboard can also be accessed on a smartphone.

• Users can integrate their accounts with third-party applications to facilitate the operation.

• It can be accessed from any device. Users do not need to install specialized software on all devices to access their books online.

• The price is made according to the pay-as-you-go system. Users pay a monthly fee and a surcharge for any additional features.

Cons of using QuickBooks Online:

• To include payroll, users must pay more. QuickBooks Online does not offer payroll for free.

• Being available only through the Internet, users cannot access their work files online if their Internet is down.

• Project management is not possible with the online version. Users must invest in standalone software for project management.

• Although Intuit claims it is easy to learn, to beginners it can seem like a bumpy ride. It takes a lot of practice and time to get used to the features and become familiar with the whole process.

• Instead of paying monthly, users had to prepay for the desktop version and that too only once.

• It is not easy to transport data from the desktop version to the online version.

QuickBooks Cloud:

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 along with the ease of cloud computing. Cloud technology comes with a number of benefits that can benefit a business in a number of ways.

QuickBooks Cloud Advantages:

• The software can be accessed anytime, anywhere from any device. The universal access feature is one of the salient features of cloud computing.

• Users can customize forms and reports to their liking, which is not possible online.

• QuickBooks Cloud makes it easy to pay bills online, saving you time.

• Purchase orders can also be created in the cloud version of QuickBooks.

• It is easier for users to switch from the desktop version to the cloud than it is to transport data from the online version to the cloud.

• Multi-user collaboration is much easier in the cloud. Up to 30 users can work simultaneously on the same sheet, compared to the online version where a maximum of only 5 users can collaborate.

• Users can also enjoy the tracking and reporting features available in the desktop version. This is not possible in QuickBooks Online.

• Users can try the QuickBooks cloud for free for a month before making a decision. Therefore, no initial payment is required.

Cons of QuickBooks Cloud:

• Businesses that have more than 30 users may need to look for other platforms.

• New users need time to understand the basics of cloud hosting. In the early days, users may need to invest time and patience to learn how the cloud works.

• Businesses may need to train their staff when moving to the cloud. Everything changes when a company switches from desktop software to one hosted in the cloud.

• When a business moves to the cloud, its data is no longer under the direct control of the owner. This can be of concern to homeowners. It is important that owners choose their cloud hosting providers carefully to ensure the complete security of their business critical information.

The bottom line: