Why Iconis Group Loves QuickBooks Online
Updated November 11, 2015

Why Iconis Group Loves QuickBooks Online

Cathy Iconis, CPA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Review Source

Software Version

QuickBooks Online

Modules Used

  • Clients
  • Vendors
  • Employees
  • Transactions
  • Reports
  • Taxes
  • Apps
  • Accountant Tools
  • Budgeting
  • Reconcile

Overall Satisfaction with QuickBooks Online

We use QuickBooks Online to run our business' books. We track time, invoice clients, track expenses, manage our budget, and more. It keeps our financial position organized.
  • The bank feed allows for quick entry of expenses and other transactions.
  • The client menu includes a great money bar showing the progress of money into the business.
  • You can create as many budgets as you like and segment by class, customer, etc for better management reporting.
  • Sales tax and its reporting is limited on its functionality.
  • The new management reports still have some quirks to get ironed out.
  • I still don't recommend Intuit's payroll solutions and prefer third party applications.
  • Because we specialize in QuickBooks Online, it has proven to be a great niche for our business.
  • We are able to have better collaboration with our clients by having all the accounting in the cloud.
  • We can easily customize QuickBooks Online to fit the needs of our clients, so we can provide an easier product to use.
I haven't looked at too many competitors in the past few years. We have a few clients that also use FreshBooks for the invoicing, which seems to work well, but it is definitely not a full accounting package. I still prefer QuickBooks Online's invoicing over FreshBooks'.
This is one of the easiest and complete products for small businesses, which is our preferred market.
QuickBooks Online works best for professional service based organizations. While it can handle inventory and job costing, there are still some limits as to what QuickBooks Online can handle. In these situations, I still prefer using QuickBooks Online over the desktop solution because of the flexibility of being in the cloud. I usually recommend considering a third party application that will compliment QuickBooks Online to fill any gaps.

QuickBooks Online Feature Ratings

Accounts payable
Accounts receivable
Bank reconciliation
Expense management
Time tracking
Multi-currency support
Not Rated
Multi-division support
Self-service portal
Not Rated
Inventory tracking
Location management
Not Rated
Credit card processing
Cost of goods sold
Pay calculation
Direct deposit files
Salary revision and increment management
Reimbursement management
Standard reports
Custom reports
API for custom integration
Role-based user permissions
Single sign-on capability

Using QuickBooks Online

Using QuickBooks Online