QuickBooks Online Advanced

Score8.1 out of 10

452 Reviews and Ratings

What is QuickBooks Online Advanced?

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.

Categories & Use Cases

Bank reconciliation
The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.
Category average: 8.4
Electronic tax filing
The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.
Category average: 7.9
Centralized Rules Framework
Integrate disparate ERP and transactional systems into single ERP instance
Category average: 7.7

Pricing
Users can set up complex and unique pricing requirements.
Category average: 7.8
Order entry
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
Category average: 7.9
Inventory tracking
The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.
Category average: 7.4

Most Frequent Users

Top 3 industries using QuickBooks Online Advanced.

Based on HG Insights installation data

View all Reviews

#1 most frequent

Professional, Scientific, and Technical Services

20.8%

67 installations of 322

“Set up and training was simple and we were able to continue our bookkeeping without missing a step.”
— Accountant, Haynes Chartered Professional Accountants (Small Businesses)

#2 most frequent

Other Services (except Public Administration)

11.8%

38 installations of 322

“We use the general ledger, budgeting, payables, and receivables modules.”
— Controller, Covenant Life Church (Small Businesses)

#3 most frequent

Health Care and Social Assistance

6.2%

20 installations of 322

Pros

Comprehensive and customizable financial reporting.
Efficient invoicing creation, tracking, and sending.
User-friendly interface and intuitive navigation.

Cons

Limitations in custom reporting and granular data export options.
Cluttered user interface with excessive nested menus.
Stiff report formatting and filtering, lacking flexibility.

Matthew Kamm

Dir. of Store operations in Corporate at JARS Services, LLC> (51-200 employees)

Use Cases and Deployment Scope

Simple tool for managing all of our accounting needs across multiple locations. Relatively easy to post and pay invoices, as well as tracking what bills are coming due. Biggest use cases within my companies is managing cash flow from the bank transactions page, as well as doing daily journal entries from the reoccurring transactions. Both the Profit & Loss, as well as Balance Sheet work well.

Pros

Bank Feeds
Outstanding Bill Tracking
Reoccurring Journal Entries
Profit & Loss

Cons

Journal Entry Headings not reverting
Too many pop ups
AI matching prompts need work

Return on Investment

I can't speak to any measurable financial impact other than just as a tracking tool.

Alternatives Considered

Payscale Pay Equity

Cynthia Rodriguez

Account Executive in Corporate at FiberTel Communications Inc. (1-10 employees)

Use Cases and Deployment Scope

We use QuickBooks Online Advanced for our day-to-day accounting to create customer invoices, create bills to pay our contractors, track payments, manage AR for outstanding balances, gather retainage amounts, record expenses, track bank transactions, and generate payroll and financial reports. We also use it for payroll, to keep our company up to date, and to monitor our daily, monthly, and yearly totals.

Pros

Invoicing & AR.
Banking and reconciliation.
Financial reporting.

Cons

Payroll and tax information can be confusing.
Banking/Categorizing transactions can be confusing.
Finding information and setting can be difficult at times.

Return on Investment

Saves administrative time.
Better visibility of money owed.
Better financial reports.

Heather Neal View profile

Chief Financial Officer in Finance and Accounting at Midcoast Regional Redevelopment Authority (11-50 employees)

Use Cases and Deployment Scope

QuickBooks Online Advanced allows us to manage 6 unique and complex operations with separate functions, dynamics, fixed asset schedules, capital improvement and grant projects, and reporting requirements seamlessly and efficiently. The scope of use is primarily accounting, billing, project management, budgeting, and fixed asset management.

Pros

The audit history helps immensely when tracking changes
Customized user access
The ability to customize, merge, and recategorize the chart of accounts

Cons

Greater filtering capabilities
Ability to save and share reports to certain users and not all or none
Offer more automation for asserting customized fees, late charges, etc so it’s not one fee applies to all

Return on Investment

Spreadsheet sync reduces manual data entry significantly. Exporting data into my customized Excel workbook that has complex formulas and macros for automating makes uploading changes and reconfiguring easy and convenient, saving a lot of time.
Automating AP approval has reduced lost paper copies, improved internal controls, and reduced audit findings.
Having banking connections has improved cash flow management, streamlined credit card expenses and reconciliation. I have found that utilizing it for my primary operating account actually makes things more difficult and can easily double-post payments, so I avoid using it on the checking account. It has been well for the credit card account, though.

Other Software Used

Microsoft 365 Business Premium, Microsoft 365 Copilot, Microsoft Access, Adobe Acrobat

Grace Clifton

Director of Human Resources in Human Resources at Radiant Live Events LLC (11-50 employees)

Use Cases and Deployment Scope

We use QBO Advanced for our bookkeeping, invoicing, sales tax, and report generation. We recently switched to QBO Advanced because we needed unlimited projects and class tracking for different events we put on, so we can calculate each show's profitability. I have not yet delved into what other benefits are offered. But the classes and locations tracking pair wonderfully with Bill.com and our Sage expense reporting. Has reduced the time spent generating P&L for each event.

Pros

Locations Tracking.
Class Tracking.
Bookkeeping
Sale Tax report generation.
Generating Reports.

Cons

Include the Assistance Feature in the QBO Advanced.

Return on Investment

Team more efficient.
Real time expense tracking.
Freed up about 20% of bookkeepers time.

Alternatives Considered

NetSuite ERP, Sage CRM and Sage Accounting

Other Software Used

Asana, BILL, Sage Expense Management, Rentman AV Rental Software, Zapier, Anthropic Claude

James Mozingo

Controller in Finance and Accounting at Covenant Life Church (11-50 employees)

Use Cases and Deployment Scope

I am the controller for Covenant Life Church and Covenant Life School. QuickBooks Online Advanced is currently being used for both entities and takes up to five simultaneous seat licenses. I am able to work from home while my staff generally works from the office. We use the general ledger, budgeting, payables, and receivables modules. Between the two entities, we generate 85 custom reports monthly.

Pros

Budgeting is easy to input. Our entities have multiple departments, so using classes to separate and report the results of each department is important.
Reports are easy to customize to provide meaningful data to the board and department managers.
QuickBooks Online Advanced has a large market share of accounting software in use, so it is relatively easy to find new employees with prior experience with QuickBooks Online Advanced.
Able to open both entities at the same time, which is helpful due to the number of transactions between the two entities.

Cons

New employees also do not have access to the existing custom reports.
When an employee is assigned to change the dates on a custom report, it creates a new report instead of simply updating/replacing the existing custom report.
Balance sheet reports also cannot be filtered by account, only by Customer, Vendor name, Product/Service and Class.
After using the Recurring Transactions function, the transaction does not automatically update to the next month’s date. The user has to manually edit the Recurring Transaction template.
On large custom reports, the print/export buttons are all the way at the far right of the spreadsheet, so you have to scroll to the right just to reach them.
Customized budget to Actual reports automatically scroll down, hiding the editable fields used to create the report and making the user have to scroll back to the top of the report to make a change.
Custom reports are automatically alphabetized, and there is no way to customize their order.
Bank reconciliations cannot be corrected after they are finalized for the month. Only the external accountant can re-open a finalized bank reconciliation.

Return on Investment

Moving from QuickBooks Desktop where there was only an upfront one-time software acquisition cost to an annual subscription of $2,500 per entity is costly for two non-profit organizations.
In over a year using QuickBooks Online Advanced, we have not had to pay anything for support.

Alternatives Considered

QuickBooks Desktop Premier

Other Software Used

Ramp

FreshBooks

Xero

QuickBooks Online Advanced

What is QuickBooks Online Advanced?

Categories & Use Cases