by Susan Paige
As a small business owner, there’s no doubt that there’s always a list of onerous tasks in front of you to do. You are responsible for the business, and if you don’t have the budget to hire all of the necessary staff, you may be left holding the bag on some of the most unappetizing operations to keep your company running.
One such task is accounting. Without the right software tool to organize everything, keeping track of your business’s finances can quickly evolve into your worst nightmare.
In this article, we’ll look at the pros and cons of Quickbooks Online to see if this software option is the right tool to help smoothen your accounting process.
Pros of Quickbooks
There are many advantages of Quickbooks that make it the superior small business accounting platform.
One of the most important things for a new business owner is that the accounting software must be easy to use. If you don’t have an accounting background, you want the interface to be able to guide you in the accounting process as much as possible. The Quickbooks Online UI has a reputation for doing exactly that.
It isn’t as straightforward as some other competitors, as you’ll find out in the Wave vs Quickbooks comparison, but it is by no means a difficult interface to learn.
Another important advantage is that you can send an unlimited number of custom invoices to your customers. There’s no cap on this, so if your clients require you to send a bunch of invoices for individual purchase orders then Quickbooks Online will certainly work in your favor.
QuickBooks Online is also very popular in the market, making it an integration target for many other software tools. Chances are, Quickbooks Online will plug in easily to the rest of your tech stack. This makes it easy to record transactions in your journal and connect your online banking accounts for easy viewing.
Last but not least, everything with this platform is online. Thus, it’s accessible from anywhere in the world, on any device.
Cons of Quickbooks
The primary disadvantage of Quickbooks Online is that it doesn’t have the functionality to do payroll. You’ll either have to purchase another software tool to take care of payroll or learn how to do it manually.
Another disadvantage is that the platform lacks a project management feature to it. This makes it harder to keep track of your month-end close process. Ever want to execute any projects to upgrade your accounting system? You’ll need a dedicated project management platform.
Finally, the Quickbooks cloud is a double-edged sword. Because there’s no software you can download to your computer, one of the Quickbooks limitations is that you have to be connected to the Internet to use it.
Know the Pros and Cons of Quickbooks Online
There you have it — now that you know the pros and cons of Quickbooks Online, you should be far better equipped to decide whether or not this platform is right for your company.
For more business advice, be sure to take some time to check out the rest of the website!
So, what do you think ?