Is QuickBooks Online or Desktop Right for You in 2022?
If you have ever considered using QuickBooks Online to help manage your business, you’ve probably wondered whether it’s worth switching from the desktop version of the program. Many users are apprehensive about making this change because they’re not sure whether they can successfully execute their accounting without the assistance of an accountant or small business consultant. In this article, we break down the benefits and drawbacks of each platform so that you can make an informed decision about what kind of software will work best for your business over the next five years.
What are your accounting needs?
If you are a freelancer, consultant, or contract worker, your accounting needs might be different than if you were starting up a business. If you already have a business with employees and inventory on hand, the features and functions of desktop QuickBooks will be more suited to your needs. Similarly, if you are looking to start up an entirely new company from scratch without any prior transactions to enter into Quickbooks, the cloud-based versions may work better for you.
What type of business do you run?
If you have a very small business and do not have many employees, I would recommend using the desktop version of QuickBooks because it is less expensive than other versions and does not require any contracts. If you are looking to grow your business, we would recommend the online version.
Are you tech-savvy?
Technology is not going away. In fact, it’s only getting more powerful and sophisticated. Depending on your business needs, you’ll want to weigh the benefits of each so that you can make an informed decision about which accounting software platform would be best suited for your business. In general, it’s important to remember that these programs are designed with different types of businesses in mind. So if you’re considering changing platforms, there will be some upfront costs involved like data conversion (translation) and training time.
How much time do you have to dedicate to accounting tasks?
If you have time to devote at least an hour per week to keep up with your accounting tasks, then using the desktop version is probably your best bet.
How much can you spend on accounting software?
If you’re a small business and are looking at accounting software, it’s important to understand what your options are.
Do you need mobile apps and alerts?
While you can access the desktop version of QuickBooks from your phone, you will still have a lot of information you won’t be able to see on your mobile app. Plus, many accounting professionals prefer the comfort and consistency of using their desktop version.
What are your business goals for the next three years, five years and beyond (if applicable)?
As we head into the future, it’s important to think about your business goals and how they may be changing as new technologies become available. In the past few years, there has been a major shift from desktop to cloud-based applications like Intuit QuickBooks. As a small business owner, it’s important to understand what you need for your company and then choose the solution that is right for you.
Do you need reports, analytics, forecasting, inventory management, expense tracking, time tracking, and more from your accounting software?
The QBO software has been great so far. It’s easy to use and I can create reports very quickly. The biggest thing I don’t like is the lack of reporting analytics such as forecasting, inventory management, expense tracking, time tracking, etc.
