Free consult & free copy of book

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

Contact Us

Stars

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 | Is Quickbooks Online Or Desktop Better


Even though all accounting software can help entrepreneurs achieve the same end results, Edmonton accounting firms say that business owners are typically narrowing down the choice for their business to be QuickBooks online what QuickBooks desktop. The main reason for this, is because Intuitís and QuickBooks is the largest accounting software provider on the market, and that familiarity is important when entrepreneurs are starting a business, and considering that they will want to delegate some of their financial tasks to a future employee. The ability to find staff who are familiar with QuickBooks is far greater because it is a more popular software. Regardless of which software they choose, entrepreneurs are going to be able to end up with great financial information in their business as long as it is being used properly and consistently. Therefore, entrepreneurs should get the facts about the differences between QuickBooks desktop and QuickBooks online that they can make the best decision they can.

One of the first things that entrepreneurs should keep in mind when choosing between the two QuickBooks softwareís, is that the makers of QuickBooks, Intuit are slowing down the developments and the updates for QuickBooks desktop. While this might not necessarily indicate the end of life for the software, it should be taken into consideration that Intuit is putting a lot more time and effort into QuickBooks online. That might be enough for entrepreneurs to decide that is where they would like to spend their money, on a platform that is fully supported.

Business owners also may decide to shy away from QuickBooks online because of its reputation. Even though it has been around for almost 20 years, it has not always been a great software because of its lack of features, and the fact that data entry was made difficult. Edmonton accounting firms says that business owners should be aware that the Internet was not as functional as it is now especially back in two thousand and one. Online software still has a tendency to lag, but it has been improved significantly. That is tendency to lag was significantly different almost 20 years ago. Improvement of the software as well as the improvement of the Internet over time, makes this less of an issue for people to use the software.

While it is true for data entry alone, QuickBooks desktop is actually still faster then QuickBooks online confirms Edmonton accounting firms. However, the new features of QuickBooks online means that there is less of a need for entrepreneurs to use straight data entry anymore. Automated features like bank feed allow entrepreneurs to link their bank account directly to QuickBooks online, and all of the transactions that have been in that bank account are updated in real time to the accounting software. This can help entrepreneurs not only ensure their transactions are up-to-date, but accurate, because they are removing the element of human error.

By learning all about QuickBooks online, the features as well as the setbacks, entrepreneurs can decide which is the right software for them and their business, so that they can ensure that they are going to use software to its list capability to ensure they have the best financial statements possible.

Edmonton Accounting Firms | Is Quickbooks Online Or Desktop Better

Entrepreneurs often heard that QuickBooks online is not as good as QuickBooks desktop says Edmonton accounting firms. While the software lacked a lot of functionality years ago, the software has since improved. Business owners should understand that regardless of what accounting software the use whether it is a QuickBooks brand or something else, the most important thing is that they use it accurately and consistently so that they have the best financial statements in order to make informed business decisions. Industry Canada says that 50% of all entrepreneurs fail within the first five years, and those entrepreneurs were asked the reason that their business failed, and 29% said reason their business failed was because they ran out of money. Having up-to-date financial statements can significantly help entrepreneurs avoid that fate.

When looking at the differences in features between QuickBooks desktop and QuickBooks online, the biggest difference that entrepreneurs will obviously see is that QuickBooks online requires the Internet to function. And while many business owners believe that that means it is going to be a slow program, they should actually see that it can improve the functionality of the program. Edmonton accounting firms says that what this means is that business owners can work on their financial files anywhere that they are. Whether it is from a different computer in their business, from another office, or even at home working on their business financials does not need to require the forethought to back up the file and take it with them on a thumb drive.

Also, using online software means that entrepreneurs do not needs to have a central server where there accounting file is saved to, so that multiple computers can access it. This is extremely important especially when it comes to utilizing an outside bookkeeper, or when entrepreneurs have sent off their files to their Edmonton accounting firms. By allowing their financial team to access the files anytime and anywhere, can ensure that they have the most up-to-date and accurate version of the files possible.

Another great function of QuickBooks online is that it allows multiple users to simultaneously work on it. This means when Edmonton accounting firms are working on the corporate year-end for entrepreneurs, they can be working on that aspect in the software, and entrepreneurs can continue to update the financial information. Previously, entrepreneurs would have to wait for those financial files to come back from their accountant in order to continue updating it. This can significantly change how easy it is for entrepreneurs to keep current financial records and stay up-to-date.

The online aspect of the software can add a lot of functionality that can help entrepreneurs update their finances no matter where they are, or who they want working on their files for them. This can save time, and ensure that they are always working with the most current financial information possible.