Item: QuickBooks Online
Rating: 8
Author: Verified User

Use Cases and Deployment Scope

QuickBooks Online is being used by our accounting for social media department where we specifically do all accounting for social media marketing and advertising. We found it best fit to manage this segment of our expenses and revenues. Revenues include brand deals, commission based sales, and ad hoc other items. Expenses include content creation and marketing expenses.

Pros and Cons

Easy to use user interface, intiative, and clean
Reconcilations are easy to do
Can use tags to catagorize expenses

Reporting is pretty standard and basis. Limited customization
Connection with banks can be unstable, there were a couple times it got disconnected and you have to re-connect and download data
While you can have a dashboard view, , it is not customizable

Return on Investment

Positive - place to hold accounting for a specific department
Negative - limited reporting. Mostly manual right now

Alternatives Considered

I have used larger ERP systems like SAP and Netsuite which do offer a better solution however for the size of business (small) that is best fit for QuickBooks Online, it is a good tool to use. We selected this because its cloud bases, billed easy, low cost, and easy to learn.

Key Insights

Do you think QuickBooks Online delivers good value for the price?

Yes

Are you happy with QuickBooks Online's feature set?

Yes

Did QuickBooks Online live up to sales and marketing promises?

Did implementation of QuickBooks Online go as expected?

Yes

Would you buy QuickBooks Online again?

Yes

Other Software Used

SAP S/4HANA, Gusto, Shopify

Usability

I gave a rating of 8/10 because if you are a small business whith limited transactions and volume, this is a great tool!
QuickBooks Online is best for:
- Basic accounting
- Monthly reconcilations
- AR and AP

QuickBooks Online is worst for:
- Detailed or Ad-hoc reporting
- Customization
- Complex accounting

Support Rating

My experience with Quickbooks Online support has been limited becuase most of the time I end up googling what I need help with. When I have reached out they do not seem to understand accounting concepts enough to help configure or setup something the way it needs to be. Support is really there to help with high level technical issues or set up process help.

Likelihood to Recommend

QuickBooks online is best suited for business with simple accounting transactaions and structure. It does allow you to setup a chart of accounts as needed by industry but it is pretty high level and you will have to configure it to best meet your business needs. In cases where you may have complex accounting or high level of transactions, this may not be the best choice. There is also limited online support available even though they do offer it for free.

QuickBooks Online Review

Overall Satisfaction with QuickBooks Online