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Quickbooks online will keep you organized and saving money at tax time
December 14, 2018

Quickbooks online will keep you organized and saving money at tax time

Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with QuickBooks Online

For our real estate business, we use quickbooks to solve a number of problems. We use it to pay vendors and utilities (where applicable), receive payments from tenants, reporting, tracking expenses, and tax prep. It has been used by the business as a whole, as well as by individual salespeople to track client related expenses.
  • Expense reporting. There are several reporting options making this a breeze to produce
  • Scheduling bill pay to various vendors
  • Tax preparation and getting ready to file.
  • Collaboration. I would like multiple members of our team to be able to collaborate better. I have difficulty sometimes tracking what was done by whom at a user level.
  • Making user permissions easier to manage. Setting security options between users. The features may be there but it is not as intuitive to set certain access permissions and differentiate between users as I would like.
  • Integration into Outlook calendars would be a nice add-on for payment reminders. These are setup and scheduled for payment automatically through the app, but a reminder on my personal calendar would be a nice add on. It may even be available but I am not aware of it.
  • Implementing QB saved us lots of money that would have otherwise went to an accountant for tax prep. QB does a lot of the work for us, saving time with the accountant, prep for accountant meetings, and lots of time and money to prepare a return
  • This saved us time and money on checks, envelopes, stamps and LATE FEES!
  • Record keeping and reporting are 2 invaluable features QB Online does really well.
I would not be the right person to comment on this, as my involvement was limited to QB online usage.
In the past we have used QuickBooks Online to schedule vendor payment and tracking between various properties. This was helpful to us because it not only ensured that many payments to many vendors across many dates were shipped in time, but the built-in reporting and tax prep features made filing so much easier when it came to be tax time.

QuickBooks Online Feature Ratings

9.8
Accounts payable
10
Accounts receivable
9
Cash management
9
Bank reconciliation
10
Expense management
10
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
10
Regulations compliance
Not Rated
Electronic tax filing
10
Self-service portal
10
Global Financial Support
Not Rated
Primary and Secondary Ledgers
10
Intercompany Accounting
10
Localizations
Not Rated
Journals and Reconciliations
Not Rated
Enterprise Accounting
10
Configurable Accounting
10
Centralized Rules Framework
Not Rated
Standardized Processes
Not Rated
8.0
Inventory tracking
8
Automatic reordering
8
Location management
Not Rated
Manufacturing module
Not Rated
8.0
Pricing
Not Rated
Order entry
8
Credit card processing
8
Cost of goods sold
8
Order Orchestration
Not Rated
End-to-end order visibility
Not Rated
Order exception Resolution
Not Rated
9.7
Pay calculation
9
Benefit plan administration
Not Rated
Direct deposit files
10
Salary revision and increment management
Not Rated
Reimbursement management
10
10.0
Dashboards
10
Standard reports
10
Custom reports
10
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
8.5
Role-based user permissions
7
Single sign-on capability
10

Using QuickBooks Online

4 - Salespeople
Administrative / Accounts Receivable and Payable

Using QuickBooks Online

Quickbooks is a more than adequate solution that solves many complex problems. Is it the easiest tool to use? - No. Is it totally learnable to anyone who is accustom to performing these responsibilities either manually or with other competitor tools? - Absolutely.
ProsCons
Like to use
Relatively simple
Easy to use
Well integrated
Consistent
Convenient
Feel confident using
None
  • Adding Invoices
  • Adding Receipts and Payments
  • Scheduling payments
  • Adding in Payroll (couldn't figure this out)
Yes, but I don't use it