QuickBooks Online Advanced: A Solution for Most
October 30, 2024

QuickBooks Online Advanced: A Solution for Most

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

Overall Satisfaction with QuickBooks Online Advanced

We use Quickbooks Online Advanced to keep the accounting records for our residential real estate development projects. It helps us understand our cost per lot so we can sell them at the appropriate margin to achieve our goals. It also helps us stay compliant from a tax and legal perspective.

Pros

  • Track project costs easily
  • Easily create financial statements
  • Monitor profit and performance metrics

Cons

  • Consolidation of multiple entities
  • Create project budgets more easily
  • More customized reporting
  • The software is very inexpensive compared to more complicated solutions.
  • We increased our profit margins through tracking projects and classes.
  • We spend half the time creating and sending tax forms than with manual processes.
It is very easy to implement. If you have a trial balance, lists of receivables and payables, you can easily get started. There are also many consultants who are well-versed in the software who can help. There are abundant resources and other softwares, such as apps, that will make it even better.
As an accountant, it is very convenient to be able to code transactions from anywhere. Further, I can spend a few minutes on my phone and easily create rules for transactions that save me a significant amount of time in the office. Ultimately, we spend less time on data entry and more time on data analysis.
It allows us to maintain all of our significant accounting records in one place. Each transaction allows us to upload support which can be used in the event of an audit or if there is any doubt. It also tracks project costs and provides the necessary reporting for us to make decisions in real time.
QuickBooks Online Advanced isn’t as robust as Netsuite or Sage, but it is generally a great choice for most businesses. This software will meet or exceed the needs of most companies, and should be the first part of your accounting software decision. I would even reach out to a QuickBooks Online Advanced expert to ensure you need to step up to Sage or Netsuite before doing so on your own.

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

QuickBooks Online Advanced is best suited for small businesses who don’t have any consolidation considerations. Additionally, the software tends to struggle when there are a large number of projects. The report screens will struggle to load at times and it will be difficult to view reports. However, it does really well at creating an all-in-one solution for companies who need payroll, accounting, and tax compliance in a relatively inexpensive bundle.

QuickBooks Online Advanced Feature Ratings

9.5
Accounts payable
10
Accounts receivable
10
Cash management
9
Bank reconciliation
10
Expense management
10
Time tracking
Not Rated
Multi-currency support
Not Rated
Multi-division support
7
Regulations compliance
9
Electronic tax filing
10
Self-service portal
10
Primary and Secondary Ledgers
10
Journals and Reconciliations
10
Enterprise Accounting
8
Configurable Accounting
10
Centralized Rules Framework
10
Standardized Processes
9
Not Rated
Inventory tracking
Not Rated
8.0
Pricing
Not Rated
Order entry
Not Rated
Credit card processing
8
Payroll Management ()
Not Rated
7.3
Dashboards
8
Standard reports
8
Custom reports
6
8.5
API for custom integration
7
Plug-ins
10
9.5
Role-based user permissions
9
Single sign-on capability
10

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