Quickbooks Online – What are the Pros and Cons?

quickbooks online

“QuickBooks Online” is a name that comes to mind immediately for many people as soon as they think about an online accounting software to use. In the last few years, the software application has gone on from strength to strength. It has picked up quite a few Editor’s Choice Awards, bestowed on it by PC Mag. Find out about some of the pros and cons of QuickBooks Online, and whether or not you should go for it. 

Pros

The main benefit of this software application is the fact that its approach to accounting happens to be significantly more comprehensive than many other accounting programs out there. 

In this program, the financial tools have been designed to work on 6 varied segments, which are reports, banking, employees, vendors, customers and company. The software boasts of amazing functionalities and can serve many varied functions. There is also no-cost mobility, free online support and low-cost payroll features. 

Quickbooks Online’s administrator portal lets users get fast reference access to budgets, recurring transactions, user activity log and a chart of accounts. 

When you start using this application, you can get the opportunity to import data related to customers from Excel, Outlook and even Gmail. Its data and customer related tools can also serve simple businesses in various positive ways. You can get the opportunity to customize specific elements, like online payment protocols, permissions and forms. 

The level of customization that is possible with this software makes it enviable for the competition. You can use it to create as well as customize client records and lists of your own. Although some other online accounting programs also let you do the same, here the forms used are much more thorough and comprehensive than the rest. 

Cons

Despite the many amazing features that it has, Quickbooks Online has a few drawbacks:

• It lacks an option for online bill payment. 
• There is just a single payroll option. 
• There is an absence of external integration and insufficiency of vendor and customer records. 
• Unlike a Point Of Sale program, there are no inventory features here. 

Despite these cons, the Quickbooks Online software package is considered to be a fantastic option for businesses that are service based. It is simple, easy to use and offers mobile access for data and for buying tools. Its interface is intuitive and has been appreciated by lots of business professionals and customers out there.