Like a lot of business owners, you spend most of your time working and need information about your business presented in an easy to understand way.
QuickBooks Online is the world's number-one cloud accounting solution for small businesses. It offers a host of features and functions that will help you manage your business from basic bookkeeping to preparing for year-end no matter what type of business you are in.
You will soon see that QuickBooks Online can be used as more than just a bookkeeping program. When set-up and maintained properly it will likely become one of your company's most valuable assets. Not only will you use it to track your bank balances and what your customers owe you, but you'll also refer to it as you make important decisions such as hiring more employees, making a price change, or even selling your business.
QuickBooks Online is a cloud-based solution that allows you to access all your financial data and collaborate with your bookkeeper, accountant and payroll provider in real time, anytime, anywhere. It can help standardize the way your business operates and allows you the flexibility to build tailored accounting solutions by adding 3rd party apps that bring additional functionality.
- Contains the key features to manage your business books.
- Makes it easy to see who owes you money by showing your income, key balances in bank and credit card accounts, sales, expenses, profit & loss using an intuitive graphical interface.
- Helps you stay on top of your invoices by using tracking technology to see whether an online invoice has been read by your customer.
- Offers the flexibility of a free mobile app to help you keep on top of your bookkeeping tasks on the go.
- Helps you chase unpaid invoices, track them and manage partial or recurring payments. The QuickBooks Online software caters to the needs of all kinds of businesses to help you get paid in lots of different ways.
- Provides an ecosystem of 3rd party applications that bring additional functionality such as reducing data entry and streamline workflow processes like inventory management, shipping and e-commerce.
- Allows you to assign roles to employeesor to manage part or all of your business financials.
- Account Listing
- Balance Sheet
- Profit & Loss
- Statement of Cash Flows
- Sales by Product or Service
- Sales by Customer
- Customer Balance Summary
- Profit & Loss Detail
- Company Snapshot
- Company Scorecard
- Customer Balance Detail
- Income by Customer Summary
- Unbilled Charges
- Accounts Payable Aging
- Unpaid Bills
- Bill Payment Lists
- Vendor Balance
- Expenses by Vendor
- Terms Listing
- Product or Services List
- Payroll Summary by Employee
- General Ledger
- Budget Overview
- Budget vs. Actuals
- Class Listing
- Collections Report
- Profit & Loss by Class
- Profit & Loss by Location
- Open Purchase Orders
- Purchases by Product or Service
- Purchases by Vendor
- Purchases by Location or Class
- Time activities by Employee
- Time activities by Customer
- Transaction Detail by Account
Working in the cloud can increase efficiency by allowing for real-time collaboration and communication between you and either your employees working on your financials or third-party accounting professionals. QuickBooks online falls in the category of software as a service also known as SAAS which works on a subscription-based model.
- you have access to QBO anytime, anywhere and from any device - desktop or mobile.
- Intuit offers bank-level security and backs up your data for you.
- QuickBooks Online software is always up to date - every time you log in you are accessing the latest version of the software - so you don't have to worry about back-ups and updates.
- your business has industry-specific needs such as real-time inventory for a manufacturing business.
- your business is mid-sized with revenues surpassing $10 million.
- your business needs to use ODBC-compliant applications (Open DataBase Connectivity - such as Microsoft SQL).
- if you track your balance sheet by class.
- if you process more than 350,000 transactions annually.
- if you prepare international transactions.
- if you track labor costs.
- if you manage a robust inventory.
Quickbooks Onine does not operate as a completely stand-alone accounting solution. It has functional limitations - that is where Intuit Add-on apps come in to help you achieve more functionality.
- apps streamline data entry and expand the capabilities of Quickbooks Online by making you more efficient.
- third-party apps ensure that all the data flows to the right places in QuickBooks.
- the QBO App Store contains apps designed to streamline all sorts of tasks.
- specialty apps are optimized for specific industries.
- there are plenty of reviews available from current users in the QuickBooks App Store.
As of this writing, the missing functionality gaps in QBO are filled by third-party apps found in the QuickBooks App store. Over time the QBO developers will surely make inroads to close some of the gaps and add missing functionality to QBO.
