When it comes to accounting for small business organizations, QuickBooks online or QuickBooks hosting is the biggest question in the minds of start-up business owners. Let’s analyze what comes up better in the battle….
The idea behind QBO…
QuickBooks, as the name suggests is really quick for the management of starter company accounts. With successive releases and improved features, Intuit had been enhancing the quality of this accounting software but what made it partner the cloud? Simply put, it is a DIY solution for the small business organizations that helps their users access their company accounts from anywhere and at any time without any complex technical issues.
What’s new and improved in QuickBooks online? Intuit has been constantly working on enhancing the capabilities of this version of QB. Inventory tracking, sending purchase orders, usage of analytical tools and better integration with Excel are some of the enhancements that Intuit has made so as to make small business clients have this software as their one-stop solution. Now, QB Online is also equipped with the ability to provide multiple access options to multiple users at the same time over a consistent data file.
Why take the QuickBooks hosting road then?
QuickBooks Online has though been enhanced to meet the small and startup needs of business owners who require easy accounting solutions, yet it is incapable to suffice the needs of a growing business firm. For most of the part, the features of QBO are not as advanced as those of the desktop versions. Some of the features that this version seems to be missing are:
- Sales order
- Progress Invoicing
- Item Receipts
- Balance Sheet by Class
- Printing 1096
- QuickBooks Statement Writer
- Inventory Assemblies
- Receiving Partial Purchase Orders
- Serial Number Tracking
So, QBO is just a starter in the race and lays much behind the 2013 QuickBooks Enterprise and Pro Editions. Moreover, the use of online version does not permit the integration of special add-ons with QuickBooks. With hosting, you can have any number of additional software installed with your version of QB. ACT, Fishbowl and Outlook are some of the most common installations that can be easily integrated with QB to make work easy and consistent. Besides, with QuickBooks hosting, business organizations can have a free choice to decide the version of QuickBooks that they plan to use for their enterprise accounting operations.
Data backup and transfer are two major benefits of QuickBooks hosting solutions. When taking services from a hosting provider, client data is backed up regularly. Each day at a fixed time, data backup is created till the last checkpoint. This backup is maintained redundantly on various other backup servers so that even if any natural calamity hits, the data can be recovered from another location. Moreover, hosting providers make the switch easy. If you plan to move to another provider, getting a simple database copy of your data with QBO is not possible. However, in the case of hosted QuickBooks providers, you can simply get a complete database file that can be easily uploaded at another provider’s server in case you choose to switch.
It’s your call
Now that you know about the functionality of both, depending upon the current and future requirements of your business, you can decide whether the online solution will be better or QuickBooks hosting.