Which QuickBooks® version is right for your business depends on what your business needs from accounting software and what you plan on doing with the information once it’s in QuickBooks®. The ideal QuickBooks® version should meet your business’s specific needs, industry, and plans for growth.
QuickBooks® Online vs. QuickBooks® Desktop
QuickBooks® offers two main platforms: QuickBooks® Online and QuickBooks® Desktop. Each platform has its own unique strengths and caters to different business needs. Let’s explore each one in more detail.
QuickBooks® Online
QuickBooks® Online is a cloud-based solution, celebrated for its flexibility and accessibility from anywhere with an internet connection. Whether you’re working from your home office, a coffee shop, or even on the go with your smartphone, all your financial information is just a click away. This level of accessibility facilitates collaboration with your team, accountant, or bookkeeper, allowing for higher efficiency and transparency.
QuickBooks® Online offers a variety of subscription levels to accommodate different business sizes and needs:
- Simple Start: For businesses just getting started with basic bookkeeping needs.
- Essentials: Ideal for growing businesses that require additional features like bill management and multiple-user access.
- Plus: Best for small businesses that need inventory tracking and project profitability insights.
- Advanced: The most feature-rich online version, offering custom reporting, automated workflows, and priority support.
Key Features of QuickBooks® Online:
- User-Friendly Interface: QuickBooks® Online is designed with simplicity in mind, making it easy for even those without extensive accounting knowledge to navigate the software.
- Customizable Chart of Accounts: Tailor the chart of accounts to your specific industry and business structure, ensuring accurate tracking and reporting.
- Automation and Integration: Connect your bank accounts for automatic transaction downloads and leverage various integrations to streamline your workflows.
- Comprehensive Reporting: Access a wide range of financial reports to gain valuable insights into your business’s performance.
QuickBooks® Desktop (Enterprise)
QuickBooks® Desktop is a powerful software solution installed directly on your computer, offering extensive features and robust inventory management capabilities. It’s ideal for businesses that require offline access, have complex inventory needs, or prefer a more traditional accounting software environment. QuickBooks® Desktop primarily offers the “Enterprise” version, which is perfect for larger businesses with intricate accounting requirements.
QuickBooks® Desktop offers a variety of subscription levels to accommodate different business sizes and needs:
- Solopreneur: Designed specifically for freelancers and independent contractors, offering a simplified and budget-friendly solution to manage their finances.
- Time: A cloud-based time tracking and payroll solution that integrates with both QuickBooks® Online and QuickBooks® Desktop.
- Advanced: This version strikes a balance between the simplicity of QuickBooks® Online and the robust features of QuickBooks® Enterprise. It’s ideal for growing businesses that require advanced functionality but don’t need the full capabilities of the Enterprise version.
Key Features of QuickBooks® Desktop (Enterprise):
- Optimize Pricing Strategies: Robust features help you track sales, manage inventory, and optimize pricing strategies.
- Advanced Payroll Tools: Advanced payroll tools make it easy to manage a growing workforce and track employee time.
- In-Depth Report Generating: Generate in-depth reports and analyze financial data to identify opportunities for growth and expansion.
- Customizable Permissions: Gain control over complex finances with customizable permissions and user roles.
Which QuickBooks® Version is Right for My Business?
QuickBooks® may be the ideal accounting software for most businesses. Still, with all the different versions available, choosing which version to use or what to do with the information can be confusing once it’s entered into QuickBooks®. NorthStar Bookkeeping helps businesses understand QuickBooks® better and select the version that best meets your needs.
“Our contracting clients supply the job information to us through QuickBooks®. We collect the job expenses and other costs, such as wages and income, and allocate them to a job/project so the contractor can see the profitability of each project/job. QuickBooks® Advanced is specifically designed to cost per project and works well for contractors.”
– Paul Yee, Co-Owner, NorthStar Bookkeeping
Related Article: Do You Need a Bookkeeper if You Have QuickBooks?
NorthStar Bookkeeping: Your QuickBooks® Experts
At NorthStar Bookkeeping, we help businesses harness the full power of QuickBooks®, regardless of the version they choose. Our experienced team can assist with software setup, customization, ongoing bookkeeping tasks, and provide the financial insights you need to make informed decisions.
The right QuickBooks® version can transform your financial management. But it’s equally important to have the expertise to maximize its benefits.
Ready to streamline your bookkeeping and make the most of QuickBooks®? Contact NorthStar Bookkeeping today to schedule a consultation. We’ll help you find the perfect solution for your business.