Great for nonprofits and growing businesses
July 13, 2021

Great for nonprofits and growing businesses

Amy Sanderson | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with QuickBooks Online Advanced

QBO Advanced is for financial record-keeping for my entire nonprofit organization. It is also used for invoicing some customers, and tracking payments to independent contractors. Some of the best functionalities include automatic bank feed sync and integration with many key programs including Divvy expense management and Squarespace website sales. Also as a nonprofit, we are able to use classes to track functional expense allocation, and locations to track restricted and unrestricted funds.
  • Cloud based
  • Integrations with almost every major program
  • Full suite of functionalities, customizations and reporting options
  • In-program budgeting
  • The budgeting option for the yearly budget automatically divides by the month, which is unhelpful if you're organization finances aren't the same from month to month
  • Bank statement upload only recently became available - but is wonderful!
  • Tag features are still being developed - but exciting prospects
  • Project management feature can be very helpful, but with some limitations
  • Need to add an easier way to log occasional vendor refunds by cash or check
  • Allowed us to focus on our mission
  • Saved countless hours of data entry through integrations
I have been using a version of QBO for the entire ten-year history of my organization. It has grown with us well. Training for new users and the development of training materials has been fairly simple.
The cloud basis is excellent and has allowed me and other employees easily access on the go and throughout remote work. I would not consider an accounting system that is not cloud-based like this! The app functionalities are limited but the ones that are there work fairly well - the system is not particularly navigable in the desktop version on a mobile device, though I have attempted it a few times and it can be made to work in a pinch.
Nonprofits such as my organization can change the terminology within the system to match nonprofit industry standards which is great. Recently the fields in profit/loss and balance sheet reports have also become customizable, referring to the titles, which has allowed us to change "equity" to "net assets" and so on. Other nonprofit needs such as fund allocation and functional expenses have been met indirectly through workarounds using available features such as classes and locations.
Probably the biggest benefit is that QBO is so universally known - the available integrations are just not there with other competing software brands.

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

Yes

Are you happy with QuickBooks Online Advanced's feature set?

Yes

Did QuickBooks Online Advanced live up to sales and marketing promises?

Yes

Did implementation of QuickBooks Online Advanced go as expected?

Yes

Would you buy QuickBooks Online Advanced again?

Yes

QBO Advanced is well suited to almost any mid-sized organization, probably up until the enterprise level where a more customizable solution might be appropriate. At a 1 mil budget, my organization is just scratching the surface of the features. Inventory management is not a strong suit, so organizations needing a robust inventory solution should be prepared to integrate a separate system or look elsewhere.

QuickBooks Online Advanced Feature Ratings

Accounts payable
8
Accounts receivable
8
Cash management
8
Bank reconciliation
8
Expense management
8
Time tracking
Not Rated
Multi-currency support
Not Rated
Multi-division support
8
Regulations compliance
Not Rated
Electronic tax filing
8
Self-service portal
Not Rated
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
Not Rated
Journals and Reconciliations
8
Enterprise Accounting
Not Rated
Configurable Accounting
Not Rated
Centralized Rules Framework
Not Rated
Standardized Processes
Not Rated
Inventory tracking
Not Rated
Pricing
Not Rated
Order entry
Not Rated
Credit card processing
Not Rated
Dashboards
8
Standard reports
8
Custom reports
8
API for custom integration
Not Rated
Plug-ins
Not Rated
Role-based user permissions
8
Single sign-on capability
Not Rated