Affordable accounting solution
October 03, 2022
Affordable accounting solution
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with QuickBooks Online Advanced
We use QBO for all things accounting -- keeping track of our payables and receivables, producing the financial statements, bank reconciliations, etc. We do find that we need to have ancillary schedules and spreadsheets outside of QBO for more complex calculations (depreciation, cost accounting) but are able to post our journal entries in QBO and keep attachments within the system.
- Payables management
- Producing reports
- Integrations with banks and credit card providers
- Automated depreciation
- Product line profitability
- Providing alerts to users regarding past due items
- Better payables management and relationships with vendors
- Keeping track of receivables and reducing outstanding A/R time
- More easily seeing where expenses may be reduced
The set up is fairly quick and there are import tools provided if you are looking to put historical information in. The import is not perfect so there may be some manual data entry involved. We were able to get it up and running within a couple weeks, and all of the historical information within a few months.
This has been excellent and I've been able to access the platform from all over the world. Being able to access this information while traveling has been extremely helpful and minimized disruptions in our workflow.
QBO addresses our business needs very well. Some of our specific industry needs are unaddressed as we need inventory management systems and cost accounting functionality that is not provided in this software, but we have been able to supplement with other programs. We are also in an emerging industry that lacks specific softwares for the most part, so we're working with what is currently available.
QuickBooks Desktop provides slightly more features and functionality, at the cost of disk space and the lack of cloud access. We chose the Online version of this software as the accounting and finance staff travel frequently and may access information remotely. QuickBooks provides significantly less features and functionality than Oracle NetSuite, but it comes at a fraction of the cost. As a smaller startup, NetSuite is not affordable for us at this time.
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