Was It Love At First Installation? No. But QuickBooks Online Has Redeemed Itself
When Intuit® released QuickBooks® Online (QBO), suffice it to say that it had more than its share of quirks. Naturally, people began avoiding it and, as a result, the software was slow to get off the ground. However, there was no denying the need for robust cloud-based accounting software. So Intuit took steps to build a product that, instead of running away from, people would flock to and embrace. After a great investment of time and money, the current version of QBO has re-emerged as the leading accounting and bookkeeping tool for small- to mid-sized businesses. And, if you haven’t already, it’s totally worth your time to take a second look.
This article will take a closer look at some of the reasons QBO has been gaining so much momentum throughout the business community.
Listen to episode 178, “Your Business’s Back Office: Take It Or Leave It,” of Rea & Associates’ award-winning financial services and business consulting podcast, unsuitable on Rea Radio.
Accessibility
Perhaps the best reason to consider QBO is for easy access to your company’s financial information. All you need is a web browser and an internet connection. Because your information stays in the cloud, your designated employees, regardless of whether they’re sitting in different buildings, states, or even different time zones, can quickly and easily access the necessary financial information. Additionally, your accountant is able to easily access the information from the comfort of their own office.
Automatic Updates
Gone are the days of having to make sure that everyone in your office was operating the same version of the program, that updates were coordinated and new features were added and synced throughout your business to ensure to prevent files from becoming corrupted. Instead, sit back, relax and let the automatic updates do their thing.
Easy Transactions
Bank and credit cards are just a fact of life these days, which means you need software that will allow you to link and automatically download bank and credit card transactions from a multitude of financial institutions across the country. This little feature will help you eliminate much of the data entry work that used to get you down.
Size Matters
QBO is not a “one-size-fits-all” solution. It comes in different subscription levels, which allows you to choose the level that best fits your business and budget. Don’t need all the bells and whistles? That’s no problem at all. Need the ability to track your budget versus actual expenses? Cool. Looking for a level that’s a little more robust but your budget is limited? That’s fine too. QBO is as unique as you are.
Safe & Sound
Have you ever lost your QuickBooks file after forgetting to back up your data? It’s truly a terrible experience that leaves you with a boatload of extra work. Fortunately, QBO makes worrying about losing files a thing of the past thanks to the safety and security of knowing that all your company’s data is secure on Intuit’s servers.
Customization
One of the greatest perks of QBO is its ability to integrate with thousands of other applications. If you’ve ever found yourself wishing that you could infuse your accounting software with more power – now you can! Need something to handle your accounts payable transactions? There’s an app for that. Need more detailed tracking capabilities for inventory? There’s an app for that, too. Need a point of sale system? You guessed it. There’s an app that will seamlessly integrate with your existing QBO software and make your life a little easier.
When QBO first came out, it certainly had its drawbacks. But since then, it’s come a long way and is more functional than ever. If you’d like to learn more about QBO, you can always give me a call at 330.308.6880. Remember, before you make the decision to switch to a new accounting software (and well before you proceed with installation), it’s important to talk to somebody about your business, the challenges you are currently facing and the various solutions that are available for your specific situation. Your company’s accounting function is vital. Before changes take place, you need to know that it’s truly in your best interest and that you have the support you need to ensure successful implementation.
Give me a call if you’d like to learn more.
By Matt Long (Wooster Office)