QBO Advanced is for financial record-keeping for my entire nonprofit organization. It is also used for invoicing some customers, and tracking payments to independent contractors. Some of the best functionalities include automatic bank feed sync and integration with many key programs including Divvy expense management and Squarespace website sales. Also as a nonprofit, we are able to use classes to track functional expense allocation, and locations to track restricted and unrestricted funds.
- Cloud based
- Integrations with almost every major program
- Full suite of functionalities, customizations and reporting options
- In-program budgeting
- The budgeting option for the yearly budget automatically divides by the month, which is unhelpful if you're organization finances aren't the same from month to month
- Bank statement upload only recently became available - but is wonderful!
- Tag features are still being developed - but exciting prospects
- Project management feature can be very helpful, but with some limitations
- Need to add an easier way to log occasional vendor refunds by cash or check
QBO Advanced is well suited to almost any mid-sized organization, probably up until the enterprise level where a more customizable solution might be appropriate. At a 1 mil budget, my organization is just scratching the surface of the features. Inventory management is not a strong suit, so organizations needing a robust inventory solution should be prepared to integrate a separate system or look elsewhere.
I have been using a version of QBO for the entire ten-year history of my organization. It has grown with us well. Training for new users and the development of training materials has been fairly simple.