Great Accounting Software for Small/Mid-Size Companies
May 03, 2021

Great Accounting Software for Small/Mid-Size Companies

Serguei Bykov | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with QuickBooks Online

We use QuickBooks Online at the accounting department. Overall, QuickBooks Online is a great accounting solution for the company of our size (around 150-200 employees). QuickBooks Online focuses on addressing various accounting issues of small and medium size businesses such as simplifying the process of bank reconciliation, running numerous reports used by small/medium businesses daily just in one click, and other useful features.
  • QuickBooks Online has a great and easy user-friendly interface.
  • QuickBooks Online is integrated with many other software packages through a convenient auto-sync such as accounts payable and expense reimbursement applications.
  • QuickBooks Online has great customer support through Intuit forums.
  • QuickBooks Online unfortunately doesn't have some important features such as journal entry approval workflows which are necessary at most companies for internal control purposes.
  • QuickBooks Online reporting feature is not very robust. QuickBooks Online has mostly basic reporting capabilities and limited functionality to customize reports.
  • QuickBooks Online still hasn't added some important accounting modules or capabilities that would make accountants' life easier such as automatic prepaid expense amortization and fixed asset depreciation features.
  • Overall, QuickBooks Online is a great investment for the company of our size (small software startup).
  • QuickBooks Online supports all the key functions of our company's accounting team.
  • QuickBooks Online definitely made the life of our accounting team much easier which let us focus on more important issues outside of bookkeeping.
Other software packages such as NetSuite and Intacct I used in the past are more robust in terms of supporting a bigger organization, but at my current company we selected QuickBooks Online as our ERP because it is a perfect fit for the size of the company and our operations as software as a service business. QuickBooks Online has all the basic functions we need as well as the reporting capabilities.

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?

Yes

Did implementation of QuickBooks Online go as expected?

Yes

Would you buy QuickBooks Online again?

Yes

Overall, QuickBooks Online has a very user-friendly interface. It also has all the necessary features to do bookkeeping. I personally like using QuickBooks Online because it is integrated with multiple other applications such as outside accounts payable, payroll and expense reimbursement software. Also, QuickBooks Online requires minimal training on how to use the package. For example, I recently hired a junior accountant who never worked with QuickBooks Online before and she learned how to use the system very quickly with minimal help from me. I would definitely recommend QuickBooks Online to any small/mid-size business.




QuickBooks Online has a great forum by Intuit. I believe both QuickBooks Online specialists and the community contribute to resolving issues and questions QuickBooks Online users have. I posted an issue I had with the software on the forum once and received a complete and knowledgeable replay within a few hours which helped me a lot. In my opinion, QuickBooks Online forum is very well-organized and really helpful especially for the new users.



QuickBooks Online is definitely a great accounting software for small and medium-sized businesses who need a basic system to keep their books. For example, QuickBooks Online is a great fit for service organizations, contractors and freelancers who need to send invoices to their customers, record basic expenses and run a couple of standard reports to assess their profitability and financial position. We use QuickBooks Online at our software startup and it's a great fit at the moment. I would not recommend QuickBooks Online to manufacturing or some businesses that have production or inventory as they might across some limitations of QuickBooks Online.

QuickBooks Online Feature Ratings

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