QuickBooks Online Advanced is a SaaS-based accounting software designed to scale with growing businesses. It includes the functionalities of QuickBooks Online, as well as more robust business analytics, customization, and resource management.
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TermSync
Score 10.0 out of 10
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TermSync is a cloud-based accounts receivable management platform. It helps companies get paid faster, reduce administrative costs, and improve customer relationships. It works with clients’ existing accounting systems and can be up in running in a day or less. Companies can choose from various modules including invoice delivery, customer portals, collection workflow management, and advanced reporting & analytics. TermSync was acquired by French company Esker in January 2015.
QuickBooks is a great way to manage your business finances and payroll. Even though there a things that are not perfect the software or product is the best I've experienced for small businesses. I highly recommend QuickBooks Online Advanced. It allows small businesses to manage inventory and utilizing the POS system works for many businesses. I don't have a need for the POS but I have heard good things about it.
If you are one person or managing 10, TermSync allows you to track what you and your team is working on. When to follow up with customers so that no one is missed. It allows you to see if each teammate is pulling their weight and getting done what needs to be done or if more help is needed. The Executive Metrics reports give you all the information for month end reporting and also shows you the weaknesses so you can motivate your team to excel in those areas.
Extremely slow data entry rates for all forms: invoices, sales receipts, POs, bills, bill payments, checks, and deposits. If you are heavy into data entry like this, QB desktop will run circles around QB online.
Need to refresh browser tabs containing reports, transactions, and reconciliations because they do not automatically update after entering or changing a transaction. This requires you to monitor the app to be sure the information it is giving you is accurate or at least makes sense after you make entries or adjustments.
Inadequate tablet/phone app -- very limited functions, especially for a business owner.
A quasi-desktop/cloud interface app for QB Online that in the past caused blue screen errors for me, requiring uninstallation.
Quality of support varies SIGNIFICANTLY depending on time of year, current onshore or offshore strategy of Intuit, and organization of support delivery.
Extremely weak support and willingness to stand by their merchant services, in one case causing a month-long delay to receive payment on a check from a regular customer who banked at the same bank as me. And the CEO's office could not resolve either.
Loyalty to customers and advisor networks has consistently decreased.
Costs continue to rise, well before our recent inflationary period, roughly doubling in about 5 to 6 years.
Will sell your employees' salaries to credit monitoring services without your actively taking steps to prevent.
"Anonymizes" your business' performance data to share with other business owners, including your competitors. It is unclear how much is shared and to what depth. You cannot opt out.
If you don't know what you are doing, or if your bookkeeper doesn't, you can create one helluva mess.
Introductory offers for product set-up and advice (from Intuit directly) are weak.
For implementing QBO you really need training from someone who can work directly with you on your books. This is increasingly true as you move up the ladder of product complexity/function.
Software look, feel, and feature changes that happen with no real notice of what is coming and its impact on your work flow.
Reporting. It is hard for TermSync to create a report for every business type out there so you may need to have some things customized, but they are always willing to assist.
The requirements needed to accept payments online requires some information that larger companies may not want to give out.
QuickBooks Online Advanced is not like any other accounting software. With how great the software is now, I would definitely renew QuickBooks Online Advanced
QuickBooks Desktop provides slightly more features and functionality, at the cost of disk space and the lack of cloud access. We chose the Online version of this software as the accounting and finance staff travel frequently and may access information remotely. QuickBooks provides significantly less features and functionality than Oracle NetSuite, but it comes at a fraction of the cost. As a smaller startup, NetSuite is not affordable for us at this time.
When researching for this type of product, I did reach out to other vendors. I worked closely with Billtrust in the past and they were lacking in this area when I was ready to make my move. It is my understanding that they have something very robust in the works but I can't say where that will fall on the cost spectrum. By comparison, other companies, like Get Paid had priced themselves right out of our market. TermSync gave us the tools we needed at a price we could afford in the least amount of time and very little assistance from our IT Group, which was a big relief.
