Both Quickbook online and QuickLook desktop resemble excellent features. But when it comes to functionality both differ. So if you’re wondering how to make a comparison between quickbooks online vs desktop this guide’ll prove a great help.
Is QuickBooks Online Better Than Desktop?
Basically, both differ in various aspects be it: pricing, features, and data accessibility. Product-based businesses with complete lists need to work better with QuickBooks Desktop, whereas generally choose QuickBooks Online for service-based businesses.
Advantages Of QuickBooks Online And Desktop
Currently, QuickBooks Desktop has more attractive features than QuickBooks Online, but QuickBooks Online has features that are not available in QuickBooks Desktop. When it comes to generating reports, creating invoices, tracking expenses and sales, and managing accounts payable, both Online and Desktop have covered all these effectual features. The difference comes in the details, and “convenience” is the keyword. Go through the below-mentioned points appropriately:
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1- Creating Invoice with QuickBooks online
QuickBooks Online will help you in creating and customizing invoices, and even automate the process by telling QBO what to send and when to send. However, with Desktop, you can easily copy previous invoices, but you still need to manually finalize and send them each time.
2- Sales And Expenses
At QuickBooks Online, you can connect your bank Online so that your transactions get updated automatically to your account. The desktop has the same capability, but take charges $10-$15 per month for it. Additionally, QBO allows you to clip the pictures of a receipt with your phone, and then attach the receipt to a transaction on your QBO account. Doing so will not require waiting for a while until you get back to the office and record them.
3- Update Products
One of the most interesting cloud accounting is to get the software up-to-date from time to time. QuickBooks Online proffers bug fixes, new features, and updates as they’re released, any time of year. With Desktop, you need to wait for the new version, and then you have to pay around $300 for it.
4- Multiple Users
When we talk about the number of users who may register to your QuickBooks Online account for free, then it would be up to 5 users. This could include access for an accountant or other professional to view your files. However, Desktop requires purchasing a license for 5 users, and if you want your accountants to be able to visible your account from their own offices. You will have to create a copy and email it, or physically hand it over on a USB device.
QuickBooks Online plans start at $10/month, but their most popular plan is $60/month. Free trials are also there which limits are 30 days, but negate any discount pricing. QuickBooks Desktop plans start at $299 for “Pro 2019.” While there are some options to purchase the software one time, QuickBooks Desktop is also fluctuating according to the subscription-based pricing.
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6- QuickBooks Backups
Creating a backup of your file and data is the best way to protect or secure from being accidentally data lose. So, in the event that happens, it’s good to have a literal backup plan. QuickBooks Desktop is comprised of various data protection options. Desktop users can create either a local or online backup through their software or purchase Intuit Data Protect for $9.99 per month.
For QuickBooks Online, users are required to either export their data manually or use a third-party application to backup their data. If any of the QuickBooks Online users have lost their data or deleted it accidentally, then there is no chance to recover. That’s why it is highly recommended for users to back up their files or data before getting it lost at any condition.
7- Customer Support
It’s better to avail instant support of your related query. QuickBooks Online service proffers 24/7/365 phone support, and free live online pieces of training weekly as well. But when we talk about Desktop, it basically acquires some extra amount for 90 days of phone support.
Limitations of QuickBooks online
Flexibility, accessibility, and affordability are key attributes of cloud-based applications. However, QuickBooks Online does have its limitations. QuickBooks Desktop has been around longer. So it is more powerful and provides detailed functionality regarding job costs, inventory, discounts, etc.
However, there are third-party apps available that enhance the gaps in QBO development. Even though Intuit is pushing Desktop users to switch to Online, you come to know they are investing money in continual QBO improvement.
Amazing Features Available On QuickBooks Online But Not On Desktop
- Schedule automatically and sending transactions freelys
- The ability to access your smartphone and tablet to attach documents, images, signatures & other files for transactions
- It has Ability to review actions and track changes over time using the Audit Log
- Search by location
- Customize customer labels
- Set bank transactions for automatic to downloads automatically at every night
- Custom Banking Rules can be programmed to divide by dollar amount or percentage
- Bank rules can be made to auto-add to the register
- Limitless time tracking and report generation
- Create delayed charges and delayed credits as non-posting transactions that can be billed for or applied later
- Journal entries can have more than one AR and AP lines
- Organize and manage various budgets per revenue
- Use the Management Reports tool to design a presentation-ready report from beginning to end
- Easily and seamlessly integrate with third-party applications
Want to know some exciting features of Quickbooks desktop 2022?
1. 64-bit advanced processing power
Yes, that’s the key highlight of Quickbooks desktop 2022, and can be used in full capacity. You can learn now how to improve stability and performance. You can execute your tasks faster quicker and with more reliable Quickbooks.
2. E-commerce for QuickBooks with Webgility
Now you can track your revenue from different selling platforms like Amazon, Shopify, and eBay, sync directly in QuickBooks.Help simplify e-commerce management and foresee profitable aspects.
3. Batch Invoices In One Go
Sending multiple invoices is no longer a big deal. Business owners now send multiple invoices in one piece of mail. From a customer’s point of view, they don’t have to receive separate emails for different jobs, which is quite annoying. But again, it has limitations too, as you can send invoices for one particular job.
For different tasks, it requires sending a separate email. Now go to the feature the file option from the menu. Now go to File> Send Forms and select the box “Combine forms to a recipient in one mail”.
4. Send Automatic Payment Reminders
It provides you the feature to streamline the payment process by setting payment reminders to customers. First, you have to create the mailing list and add customers to the list in Managing Mail List in the customer drop-down menu.
After the customer is added to the payment list, you can set the payment reminders from the Schedule Payment Reminder option. Furthermore, you can also set the reminder email template to the sent date.
We have now sent the reminders from the Review and Sent Payment Reminders. Once the date comes, it’ll appear on the screen.
Always handy to make a list of all the customers that are late in payment. Now you can set a payment of 5 days before the due date. Once the date arrives, it’ll start showing in the Review & Sent Payment Reminders.
5. Instant Deposit
Get monthly instantly be it midnights, late nights, holidays, or weekends when the customer wants to pay you.
6. Payment Links
Automatically collects payments from devices that don’t require invoicing or payment links.
7. Bill Approval Process
Quite beneficial if you want to manage cash flow, handle accounts payable with authority, and customizable approval workflow for bills.
8. Payroll Status For Direct Deposit
With some exciting payroll status features in QuickBooks Desktop 2020, employers can check the status of the payroll of employees paid through direct deposit. Employers now can easily look into the payroll status by clicking on the Employees option in the menu bar.
How Can I Decide Which One To Avail Either QuickBooks Online or Desktop
I think the information provided above is sufficient to decide, and close the debate QuickBooks online vs desktop before going any further. Therefore, it is suggested to figure out the advantages and decide on merits.
In case you want some dedicated assistance from professional staff, then always give them a ring on QuickBooks Online Support Number and share your problems with the techies. They will help you sort out the problem in an apt manner as they are highly experienced and knowledgeable.