QuickBooks Online Review 2024: Features, Pros & Cons

Chances are your team will be happier sticking with QuickBooks Online. Not only is it the newer tool, but it also seems to be the focus in terms of update frequency, development, and marketing. The software itself may look like an outdated image on some monitor within a cubicle maze, but it’s versatile in what it can do. The dashboard does an excellent job dividing all accounting aspects into a flowchart type of view, while the sidebar provides quick access to a list of features.

1. It includes 100+ reports, while QuickBooks Online Simple Start includes around 40.
2. While QuickBooks Enterprise will still be an option, this is powerful software with an expensive price tag that will be too much (in terms of features and pricing) for most small businesses.
3. As far as other add-ons, QuickBooks Online integrates with over 750 business apps and programs — well over twice the number of integrations you’ll find with Desktop.
4. It is worth noting that QuickBooks Desktop Pro and Premier versions will soon discontinue sales to new users.

QuickBooks Online is faster, lighter, and uses less processing power than QuickBooks Desktop

But when multiple users how to calculate withholding tax are working on the same file simultaneously, changes made by one user won’t be instantly visible to the rest of the team. The changes need to be saved and refreshed, leaving a lot of potential for errors. As I was testing them out, I found QuickBooks Online a lot sleeker, more modern, and easier to navigate than QuickBooks Desktop. Every step was prefaced with a tutorial, guiding me in setting up my company’s profile by prompting me to provide specific information.

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It brings most of the features of the online platform, plus it enables mileage tracking and receipt capture for quick and convenient recordkeeping. QuickBooks Online is a good option for many small businesses that are looking to make invoicing customers easy and integrate invoicing and payments into the general ledger. Small businesses can customize how they use the platform so that they only use the features they need. QuickBooks Payments account subject to credit and application approval.

Subscription clients in QuickBooks Desktop 2023 (R1) or older versions will need to update to the latest 2023 (R3) version before their subscription expires. Another cumbersome feature that users don’t like is the requirement that clients must establish their own accounts to pay an invoice. Other popular merchant processors don’t require this, making collecting payments more difficult. MarketWatch Guides may receive compensation from companies that appear on this page.

But there are some general guidelines to know which version might be the one for your business (and your budget). QuickBooks Online supports up to 25 users, which does fall short of the 40 users supported under QuickBooks Desktop. In comparison with QuickBooks Desktop, QuickBooks Online is cloud-based, cheaper, easier to use, supports more integrations, and is unlikely to be discontinued by QuickBooks. Some accountants dislike QuickBooks Online’s limited functionality, limited report customization, and dependency on the internet. Seeing as it’s a program installed on your local system, it relies on the device’s processing power and resources.

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However, QuickBooks Desktop offers better reporting and supports more complex accounting. Perhaps the biggest area where cost calculatation of goods sold for your business QuickBooks Desktop falls short is that its Pro and Premier versions will soon be discontinued for new users. While QuickBooks Enterprise will still be an option, this is powerful software with an expensive price tag that will be too much (in terms of features and pricing) for most small businesses.

I’ve deduced that it comes down to a stubborn user base—one that refuses to let go of QuickBooks Desktop in favor of its cloud-based successor. Granted, most people agree QuickBooks Online is the better option, but the old-timer is still somehow in the running. No matter which version of QuickBooks Desktop you’re using, you can switch to QuickBooks Online quickly and seamlessly. With our online migration tool, you can move all your data or move only what’s key—like balances and specific lists. If you need help, we can migrate your data for you at no additional cost. Stay in sync with the QuickBooks mobile app and work where you want.

Send invoices, run reports, and get mobile alerts for key events—all on your smartphone. If you’re a freelancer, stick with its Self-Employed can a capital loss carry over to the next year plan, which is $15 per month 9after the three-month discount at $7.50). Features include mileage tracking, basic reporting, income and expense tracking, capture and organize receipts and estimation of quarterly taxes. The inventory management and job costing features are more robust in QuickBooks compared to QuickBooks Online.