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 | What Are The Features Of Quickbooks Online

Many entrepreneurs have shied away from using QuickBooks online for a long time says Edmonton accounting firms, because they heard it was difficult to use and lacked functionality. However, business owners should take a second look at the software, especially if they had not needed to use accounting software in the past, and are now starting to make that decision in their business moving forward. Business owners should understand that regardless of what accounting software they use, all are going to be great tools that can help business owners get the right information for their business. However, the ease of using that software, can factor in greatly to which one a business owner is going to be most comfortable using, most comfortable they are means more often they are going to use it which is important.

Edmonton accounting firm says that while QuickBooks online has been around since two thousand and one, it has not always been known as an easy to use software. There has been a lack of functionality that is made people want to avoid it especially in favour of QuickBooks desktop. Also, in the past the data entry has been very difficult. Intuit spent a lot of time improving the software as well as increasing features to equal that of book desktop. However in the last two three years, the software has improved to the point where it is at least as good or better than QuickBooks desktop. If entrepreneurs had been avoiding looking at it as a viable option to use in their business, business owners should consider it now.

Even though QuickBooks online is becoming known as a more viable option then the desktop version, entrepreneurs are still hearing from people that QuickBooks desktop is still faster when looking at data entry. Edmonton accounting firm says the biggest reason for this, is because with any cloud-based technology, computing time can be delayed due to the online nature. And while it is true that QuickBooks desktop does not have that lag time, QuickBooks online has made data entry less relevant than it ever has before. There are several automated features that allow QuickBooks online to automatically be updated with bank transactions or allow business owners to upload credit card statements directly into the software, so that manual entry is literally a thing of the past. Business owners should understand that this is faster, as well as more accurate than manual entry, because business owners do not need to worry about typing in the wrong number, or coding things incorrectly.

There are many reasons why business owners might want to consider QuickBooks online or for any other accounting software, but ultimately whichever decision they make, business owners should be assured that they are all great tools that can help them keep great financial record of their business, and as long as they use them consistently whichever decision business owners use, they will be able to get great information from. As Warren profit has said, ìaccounting is the language of business.ì

Edmonton Accounting Firms | What Are The Features Of Quickbooks Online

An extremely sobering statistic from industry Canada says that half of all Canadian entrepreneurs fail in five years of business, and 29% of those failed entrepreneurs say the reason they fail is because they ran out of cash, Edmonton accounting firms says that implementation of accounting software can significantly help entrepreneurs have better financial interim statements that can help them make more informed business decisions. While accounting software does not directly impact the ability to get more accurate financial information, features that are in the software that make it easier to use, and easier to keep updated can actually significantly impact the ability to get great financial information. There are several things that entrepreneurs take into consideration when there choosing the right accounting software in their business.

One of the first things that they should consider, is that QuickBooks is the largest accounting software in the world. If business owners are looking to implement a software in their business that they are going to be able to find people to help them familiarize themselves with the software and learn how to use it, QuickBooks is a great one to choose. Also, because of the number of people that are already familiar with the software, if business owners are ever looking into getting a software that more people will be able to use, so that they can hire an employee to delegate that responsibility to eventually, using QuickBooks is going to be great for that. Since QuickBooks has the same cost as other accounting software, using the software that is most common can help entrepreneurs find the best and most qualified people.

Other things to take into consideration when entrepreneurs are choosing accounting software says Edmonton accounting firms, is ease of sharing access to the files. By using a cloud-based an online software, like QuickBooks online entrepreneurs can easily have multiple people working on the file without needing to download software, or putting master files on the hard drive. Using QuickBooks online, a business owner can work on a file just as easily as their employee, bookkeeper or even accountant. Not only that, but business owners can have all of those people working on the files at the same time and have it update in real time. This ease-of-use can ensure faster and more efficient updating of the information than ever before.

When entrepreneurs are considering which accounting software to use in their business, type of software is not as important as the implementation of it. Which is where QuickBooks online shines. By having a software that an entrepreneur can find multiple people to operate, so that a business owner is not tied to having to do it, and not having to purchase any computer equipment to do that, can help business owners ensure that their financial information is stayed update. Also, by having this online software and allowing their bookkeepers and accountants to work on it when it makes sense for them, can help entrepreneurs ensure that their information is always as up-to-date as possible.