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Edmonton Accounting Firms | What Quickbooks Software Is Best To Use

While there are many accounting software is that entrepreneurs can choose to use when the time is right in their business says Edmonton accounting firms. However, entrepreneurs often find themselves choosing between QuickBooks online and QuickBooks desktop. The biggest reason for that is because QuickBooksís largest accounting software provider in the world, and entrepreneurs feel that they will be best able to find support as well as staff who are familiar with the software if they stick with QuickBooks. When it comes to choosing which QuickBooks version is best for entrepreneurs, they should take into consideration all of the benefits and features of each of the different software types.

One of the first things that entrepreneurs should take into consideration when looking at QuickBooks online versus QuickBooks desktop, is that despite the fact that QuickBooks online has had a reputation for lacking functionality and being slow, that has recently changed the past few years. Edmonton accounting firm says that Intuit has put a lot of time and attention into improving QuickBooks online, and should not be considered a viable alternative to QuickBooks desktop. Not only have they improved the functionality of it, they have also added features over and above what QuickBooks desktop has, and improved the data entry function.

Many entrepreneurs have also heard that despite the fact that QuickBooks online has had significant improvements, that the desktop version is still faster for straightforward data entry. While this might be true, the features that exist in QuickBooks online has made the need for data entry almost obsolete. They have much that are features that add transactions in groups, eliminating the need for entrepreneurs to have to sit and enter any significant amount of data at any one time. Edmonton accounting firms says that the automated feature called bank feed is one of the best improvements QuickBooks online has in terms of data entry. But that allows entrepreneurs to do, is sink their business bank account directly with QuickBooks online, and all of the various transactions that have been into and out of the bank account automatically entered into the software. Not only is this faster, but it is also a lots more accurate. The reason for this is because there is not an element of human error that could enter transactions incorrectly. While that does not replace entrepreneurs from having to review the transactions to verify the accuracy of them, does speed things up significantly even taking into consideration the double check that an entrepreneur should be doing.

When entrepreneurs are making the decision for what accounting software thatís best for their business and narrow the decision down between QuickBooks desktop and QuickBooks online, they should review all of the features that the software now has, the make their decision. While both software options will result in an entrepreneur having accurate and well done financial statements, QuickBooks online can help entrepreneurs do that faster and more accurately than if they were entering everything by hand.

Edmonton accounting firms | what QuickBooks software is best to use

Regardless of what accounting software an entrepreneur chooses, Edmonton accounting firm says all the options that exist on the market are going to be able to deliver accurate results for entrepreneurs, as long as they use the software accurately and update their finances on a regular basis. However, most entrepreneurs tend to lean towards using QuickBooks software, because of the familiarity with the product. It is the largest accounting software provider out there, and if entrepreneurs are looking for help in the software with employees, using software that is most well-known increases their chances of being able to find a great employee who is also familiar with QuickBooks.

However, there has two options when it comes to QuickBooks. There is the online version and the desktop version. While both are good software to use, there is several things that business owners should know about each one and making their decision. The first thing that entrepreneurs take into consideration says Edmonton accounting firms is that Intuit has started to slow down their development and updates on QuickBooks desktop. The minimal amount of updates that are coming out should indicate to business owners that they are putting more time and energy into updating QuickBooks online, and that lack of updating may indicate that they are going to stop supporting it in the future. If under news are already using the desktop version, they should not fear that it is going to reach its end of life soon, however if entrepreneurs have not yet chosen a software, they may opt to get into a software that does not have an end-of-life looming.

Another feature of QuickBooks online that entrepreneurs should into consideration, is that while it is online, and Edmonton accounting firms says that online software has a tendency to be a tiny bit slower, and also can depend on the speed of the Internet, that does not necessarily mean it is not a good option. In fact, the fact that it is online is what allows it to have some of the functionality that it has over its desktop counterpart. For example, entrepreneurs are able to allow multiple people to work on the files without needing to have the file hosted on a central server somewhere. If entrepreneurs would like their employees, or bookkeeper to work on the file, even off-site, it is extremely easy to do without needing to move hard files around.

Not only is it much easier to allow people to work on the files especially for multiple locations, but another feature is that it can be worked on at the same time by more than one person. This is especially great when a business owner has taken the year-end files to their Edmonton accounting firms and they are working on the corporate year-end. Typically with the desktop software, entrepreneurs would have to stop updating their finances while their accountant is working on it. However, in the online version it is possible for entrepreneurs to be able to update files and continue to add information while their accountant is working on it. This can help entrepreneurs stay updated with their finances, which lends itself to having more up-to-date financials more often.