QuickBooks Online may be exactly the solution you are looking for. Running a small business successfully can be a very difficult feat. Selling your products or services is one thing, but tracking and managing your expenses is another vital task that often takes a backseat to sales. Accounting and bookkeeping although very important should not be an overly difficult task and should not take the majority of your day. Business owners need their bookkeeping and accounting functions to be as easy as possible, especially when tax time comes. This is where QuickBooks accounting software comes in and can help business owners simplify the daunting task of having an accurate and clean set of books so that they can accurately forecast their budget.
QuickBooks Online is a web based version of the software that is accessible through a password and login. A great feature of QuickBooks Online is that your books can be accessed anywhere that you have Internet access, whether it be in a hotel, restaurant, etc. The online version of QuickBooks gives business owners REAL TIME information about their finances.
QuickBooks Online comes in three different packages depending on the needs of the business owner. The most basic of these versions is Online Simple Start that costs $12.95 per month at the time of this writing; it allows a business to create invoices and manage customers but will not allow certain functions like creating bills and estimates. The Online Essentials package goes for $26.95 per month and can be paired with payroll functionality for an additional fee. Online Plus retails for $39.95 per month and has all of the features such as preparing 1099’s, inventory tracking, budgeting and more.
There are some downsides to QuickBooks online but for most they are minor obstacles. If you ever lose your Internet connection you will not be able to access your books. Also when the server gets overloaded customers may experience slower or limited access. If you have experience with the desktop version of QuickBooks then you may experience a learning curve when switching to QB Online. Certain functions like payroll cannot be customized on QuickBooks Online and must be done a certain way. If you leave a screen open without activity for a certain period of time you will be timed out and forced to log in again.
There are also some great advantages to QuickBooks Online. When a new version of QuickBooks comes out it will automatically update your software, unlike the desktop version where the new product and update must be purchased. Additionally your accountant will be able to access your books remotely at any time and get the information they need. This also makes outsourcing your bookkeeping far easier. QB Online also lets you download your bank statements to your books so you don’t have to enter them by hand.
If you have additional questions or are interested in getting set-up with this version of QuickBooks, CALL NOW. We’d be happy to help you get it set-up, train your staff, or even take over the bookkeeping function if that best serves your needs.