The monthly subscriptions for the QuickBooks online may be simpler for some small businesses suitable to a financial situation. QuickBooks Online and QuickBooks Desktop are two solid vertical analysis accounting products from Intuit. While both software types have plenty of perks, QuickBooks Online is a more flexible, affordable, and scalable option for most small-business owners.
Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file. Only online users can use the QuickBooks capital using QuickBooks Online. Both QuickBooks Online and Desktop have several same features in which QuickBooks desktops contain more developed features.
QuickBooks Online is generally easier to use than QuickBooks Desktop as it has a more streamlined user interface. QuickBooks Online files are also easier to share because you only need to invite a ProAdvisor to your company file, and they’ll have 24/7 access to your books. In addition to third-party integrations, QuickBooks Online integrates with native products, such as QuickBooks Payments, QuickBooks Payroll, and QuickBooks Time (formerly TSheets). QuickBooks Desktop can be integrated with QuickBooks Desktop Payroll and QuickBooks Time. The QuickBooks Desktop mobile app is very limited as it only allows you to capture expense receipts.
If you want to learn more, you can read about each of the products on our dedicated landing pages. You can use either QuickBooks Online or QuickBooks Desktop, but not both. You can, however, switch your business’s account from QuickBooks Desktop to QuickBooks Online without losing your data. If you invoke the guarantee, QuickBooks will conduct a full n evaluation of the Live Bookkeeper’s work.
QuickBooks Online vs Desktop: Pros & Cons
Both versions have mobile apps, but the app for the Desktop version primarily functions as a way to upload receipts, and the Online mobile app is robust in comparison. QuickBooks Online is a perfect match for service based or contractor businesses because of its anywhere, online access and the QuickBooks Online Apps that we previously discussed. Since your business is mobile, you always need access data in the field or while on the job.
- Additionally, QuickBooks Mac Plus never seems to get the same amount of attention as other QuickBooks products in terms of new features and updates.
- However, we found notable differences in various features, discussed in the sections below.
- QuickBooks Self-Employed is specifically for freelancers, while QuickBooks Online is a good fit for nearly any size business.
- In the meantime, if you’re currently using QuickBooks Desktop, it’s worth considering transitioning to the online version as soon as possible.
QuickBooks Online and QuickBooks Desktop operate on true double-entry accounting principles and have both accrual and cash-basis accounting. Each offers a detailed chart of accounts, journal entries, bank reconciliation, accounts payable, accounts receivable, and the basic reports needed to run a company. However, QuickBooks Desktop offers better reporting and supports more complex accounting. QuickBooks Online can be accessed anywhere you have an internet connection, and because it’s web-based, you can work with your accountant in real time. The QuickBooks mobile app is also available for free and lets you manage your account on the go.
QuickBooks Online vs Desktop Similarities & Differences
Having lived most of his adult life abroad, he’s amassed a variety of experiences from many different fields. From ForEx trading to compliance to mobile engineering to demolition, he’s definitely not afraid to test out new things. As of now, if you’re already using QuickBooks Desktop, you can keep using it, but support will slowly phase out. Now that we’ve gone over the main differences in features, let’s see the cost of QuickBooks Online vs. Desktop. QuickBooks Online boasts a user-friendly, intuitive design, while QuickBooks Desktop looks quite antiquated and summons memories from the mid 2000s. Let’s see how these two platforms compare in features, pricing, and reviews to help you decide on QuickBooks Online vs. Desktop in 2023.
Intuit does have a disaster recovery for online accounts, but QBO users don’t have access to this backup if they accidentally delete something in their account. Read our blog post on QuickBooks Online Backup options for a full run-down of Desktop and Online alternatives as well as some helpful how-tos. QuickBooks Desktop options start at $299 for “Pro 2019.” While there are some options to purchase the software one time, QuickBooks Desktop is also moving to subscription-based pricing (see below). You can have up to 5 users registered to your QuickBooks Online account, for free. This could include access for an accountant or other professional to be able to view your files. QuickBooks Pro does not provide the mobile applications being locally-installed system, the QuickBooks Online offer features advantageous with both Android and iOS apps.
QuickBooks Online vs. QuickBooks Desktop features
While most information transfers well to QBO, not all of your information will convert from Desktop. We think QuickBooks Online is the best overall option for small businesses, but QuickBooks Desktop Premier is a great option for niche businesses. Overall, QuickBooks Desktop Pro reviews are more favorable, but both user bases have good and bad things to say about each product. Accountants often find QuickBooks Pro and Premier to be more traditional, but you don’t have to be an accountant or professional bookkeeper to learn QuickBooks Online. With QuickBooks Online, you can add QuickBooks Online Payroll starting at $45/month. While QuickBooks Online and QuickBooks Desktop offer contact management, only QuickBooks Desktop allows you to manage and track leads as well as contacts.
This service provides financial solutions for small business owners who require working capital for better cash flow management. Neither QuickBooks Desktop pro nor QuickBooks online has built-in payroll. You can go through the Intuit Online payroll review for in-depth information.
Who is QuickBooks Desktop for?
Click on Reports at the top of the screen, then click on company and financial and finally over to either the profit and loss or the balance sheet report. Your business is unique, but your routine bookkeeping tasks are going to be similar to many other businesses such as consultants/coaches, dog walkers, and photographers. By using optical character recognition (OCR), details from your receipts are scanned and recorded directly into relevant transactions. QuickBooks Online simplifies both the receipt collection and organization process by allowing you to easily capture and upload a photo or document into your QuickBooks file. From there, you can add it to the correct transaction (or create a new transaction) and, voila, no more shoebox. Intuit often offers discounts and incentives for purchasing it for set blocks of time, though for the purposes of this article, I’m only covering its full regular price.