Free consult & free copy of book

E-Myth – “Why most small businesses don’t work & what to do about it”

Contact Us


Most 5 star CPA Google reviews in Canada

Read Reviews

Chartered Professional Accountants E Myth

1 Fixed Monthly Fee - Planning | Accounting | Taxes | Consulting

Helping Canadian businesses beat the odds!

Edmonton Accounting Firms | How The Features Of Quickbooks Online Help Entrepreneurs

While entrepreneurs do not need to worry that much about which and accounting software they use in their business, because all of them when used properly can help entrepreneurs getting accurate and up-to-date finances Says Edmonton accounting firms. However, the ease to use can impact how often an entrepreneur use that software, and how accurate it can be. This is owners often are choosing between QuickBooks online and QuickBooks desktop when looking for the accounting software they are going to use in their business. While there is many other brands of software out there, market familiarity with QuickBooks is huge, and that business owners mind at ease they are going to be able to find people familiar with it in order to help them, or that they can hire in their business to use. There are some great features of QuickBooks online, and some key differences between the two different QuickBooks software that entrepreneurs should be aware of before making their purchasing decision.

The first thing that should be taken into consideration when looking at both platforms, is that into it, who is the maker of QuickBooks is offering fewer updates and fewer developments for QuickBooks desktop. On the other hand, they are continuing to put more effort into QuickBooks online, offering more updates and developments. Edmonton accounting firms says there is no specific end of date expectancy for QuickBooks desktop, however business owners should take the lack of developments and updates as a sign of things to come. Accountants would recommend that if entrepreneurs have not already invested in a specific software yet, that they purchase QuickBooks online, because it will most likely last them a lot longer in their business.

A great feature of QuickBooks online, is the fact that since it does operate completely online, it does not matter where the entrepreneur is, they will be able to access their program and update it. Whether they have a second office, want to update it from home, or have hired an employee in their business to help them with maintaining their financial information, this is owners do not have to worry about if they have a server and a network, in order to allow multiple users to access the software.

In addition to being online and allowing multiple accesses to the software, the feature of QuickBooks online allows entrepreneurs to have multiple people working on it simultaneously. This is especially beneficial if an entrepreneur has sent off their information for their Edmonton accounting firms to work on their corporate year-end. Not only can they be working on it from their own office, but entrepreneurs can be updating their financial information at the same time their accountant is working on the corporate year-end of the business. This can help entrepreneurs ensure that they are not becoming backlogged in their financial updating because there waiting for that file to come back.

There is great features to QuickBooks online that can make it even more functional than its desktop counterpart. When entrepreneurs are making the consideration, they should understand that the online aspect of it can give it functionality that was not possible before.

Edmonton Accounting Firms | How The Features Of Quickbooks Online Help Entrepreneurs

Even though business owners will be able to purchase any accounting software for the business, and end up with the most accurate financial statements as possible as long as they are using the software properly, Edmonton accounting firms says that most entrepreneurs tend to want to utilize either of the QuickBooks software. The reason for that is because there is such a market familiarity with it, that it puts their mind at ease that they will be able to find employees in their business that can help them use the software so that entrepreneurs can delegate certain aspects of their finances whenever it makes sense. Also, entrepreneurs tend to think that if they need help with the software, the be better able to find help if they are using a software that is more popular.

When making the decision between QuickBooks online and QuickBooks desktop, entrepreneurs have perhaps heard that the online software is not as functional or as easy to use as QuickBooks desktop. While this was the case several years ago, QuickBooks online has been around for twenty years, and in the last three or four years, Intuit has put several updates and new features into it. Not only is it a great alternative to the desktop version, it is becoming preferred over the desktop version because of the new developments. If entrepreneurs had shied away from purchasing it in the past because of the reputation, they should take a new look at it and consider all of the new features that the online version has.

One of the most significant aspects of QuickBooks online that has been added as a new feature, is the automation that has been added to it. Not only can entrepreneurs import bank statements and credit card statements directly into the software, but business owners can also sync up the software directly with their bank account. Edmonton accounting firm says what this does is allow transactions to be uploaded into the software as soon as they happen. By using this, entrepreneurs do not have to find the time to update transactions by using manual data entry, because it is already done as the transactions happen. Not only can this ensure that the financial information stays current, but it can also increase the accuracy of the information. Edmonton accounting firm says that human error can contribute to a number of errors that occur during data entry. By automating this process, business owners are minimizing that ability. If business owners take just a fraction of the time that they save through this automated process and double check all of the transactions that are entered against their bank statement or credit card statement, they can verify the accuracy of the information end up the most accurate financial statements that they possibly ever had was not prepared by an accountant.

Business owners should consider using QuickBooks online, not only because it is a software that is improving, but because the advancements and it has made it a preferred option over the desktop version. Ending up with the most up-to-date and accurate financial statements should be a goal of entrepreneurs and they can do this easier with QuickBooks online.