Slowing Down with QuickBooks Online
Updated December 24, 2019
Slowing Down with QuickBooks Online
Score 8 out of 10
Vetted Review
Verified User
Software Version
Harmony Edition
Overall Satisfaction with QuickBooks Online
QuickBooks Online (QBO) is currently being used in our firm to deploy and implement cloud accounting systems for our clients. Traditionally small businesses had their accounting data housed on one desktop computer or at a central location such as a server. This made it difficult for small businesses with multiple users to have access to the most current updated version of their data. With QBO, everyone can have access to the same data, work can be completed simultaneously, and information can be accessed in real-time.
- Cloud based accounting provides users with anytime access that allows work to be completed faster. Gone are the days of having to be at the office or use remote access software to use the QuickBooks file when away from the office.
- Robust tools for importing client data whether it is from desktop versions of QuickBooks or other software vendors
- Growing resources of add-on apps in the Intuit apps marketplace. Allows users to add additional systems (CRM, inventory, ecommerce)
- New UI (Harmony Edition) is a bit confusing for some users to get used to. Navigation is not very intuitive and many users have to search for things that were easy to find in prior versions.
- Bank feeds could be better. Some of the transactions that come in from the bank do not import the correct information need to correctly code transactions, thus taking time to research.
- Advanced features (job costing, inventory, multiple currencies) are not available in the basic version and users must purchase the Plus version or purchase add-ons
- The reporting in not as robust in QBO versus the desktop product.
- The software is "walled" in that it does not integrate with non-Intuit tax and accounting products, practice management, workflow management, or portal solutions (unless add-ons)
- More efficient for small firms with everyone on the same QBO file. No more transferring QB files back and forth with the potential of data corruption issues.
- Less efficient with larger more complex firms, spend more time on the phone trying to integrate their add-ons, payroll and other systems.
- Intuit's 99.95% uptime casued some negative events in the past year. Problems occurred during the peak of tax season.
- Xero,kashoo,wave
QuickBooks Online (QBO) is a decent product that has some limitations. On the surface the product pretty much does what it is suppose to, however there have been some occasions where clients stated banking information was not imported, or imported incorrectly, the software was operating at a slow pace, and the add-on integrations were a problem. Depending on your needs a look at one of the other cloud based accounting softwares may be warranted.
Using QuickBooks Online
QuickBooks Online Support
Using QuickBooks Online
| Pros | Cons |
|---|---|
Relatively simple Technical support not required Familiar | Inconsistent Cumbersome |
- New company setup
- Account reconcilations
- Data backup
- Adding payroll
- Adding complicated inventory
- Adding bank feeds
Yes - The mobile interface in somewhat limited and functions more like a data entry center than an app where actual work can be completed. With the QBO mobile app, you can create invoices, receipts, and vendors and track this information. This is ok if you only want a snapshot of your business. The app however will not allow you to reconcile any accounts, create budgets, on any other more mission critical work that needs to be done.