Doing the business’s books has taken on a whole new meaning in today’s online world, as “the books” have moved to hard drives and now the cloud. This isn’t to say paperwork has disappeared completely from modern businesses, yet it does mean computers are integral for back-end processes. When it comes down to it, there are good reasons for the changes; let’s examine some of these by discussing 5 advantages SMBs gain with QuickBooks Online Accounting.
#1. Mobile Functionality:
Whether moving from QuickBooks Desktop or another on-premises accounting software, QuickBooks Online provides SMBs with mobile functionality. From capturing receipts on a smartphone to having access to key functions remotely, SMBs will increase their productivity and flexibility with online accounting.
SMBs will also have access to the QuickBooks Online Marketplace, where they can get apps with mobile functionality (incl. 300+ cloud-based apps). The QuickBooks Online Marketplace is second to none with the amount of popular solutions found to streamline and integrate financial functions for SMBs.
#2. Cost Savings:
Business News Daily has recently published an article called: “Quickbooks Online Review: Best Small Business Accounting Software”, written on November 2, 2016 by Sara Angeles. One of the reasons for this high acclaim is the affordability factor, as she states:
“Of all the accounting software we reviewed, QuickBooks offers the best and most affordable paid packages and services for different types of businesses.”
Plans starting at $9.99/month with one user, and allowing access for up to 5 users (rather than the Desktop version requiring a 5 user license), are part of the reasons why it’s affordable. In fact, the QuickBooks Online version is more affordable than the Desktop version when it comes to: updates, bank download transactions, phone support, annual upgrades, and cloud hosting as well.
#3. Share With Accountant:
This advantage is dear to our hearts here at MOD Ventures, as this is our preferred and recommended platform for our clients. There are good reasons for this, as the article explains,
“One of the biggest benefits of using QuickBooks Online is that it is ‘accountant approved.’ Not only does it have all the features accountants deem as must-haves for small businesses, but it also eliminates many headaches if you currently use an accountant or decide to hire one in the future.”
QuickBooks Online can easily be shared with accountants (instant file access for accountants), giving them free access to the business’s “books” without it counting toward the number of users on a business’s plan. This functionality streamlines coordination and collaboration between businesses and their accountants.
#4. Automation and Updates:
The QuickBooks Online webpage says:
“3 out of 4 customers get more work done with QuickBooks Online vs. QuickBooks Pro”
Automation features are partly the reasons why this is true, as features like: automatically scheduling and sending invoices and automatically downloading and categorizing bank transactions – help to reduce data entry and streamline accounting processes.
Speaking of automated, QuickBooks Online also provides free automatic data-encrypted back-ups and free access to the latest products and features upgrades. These cost $9.99/month and $299/year (annual upgrade) with the Desktop version, respectively.
#5. Phone Support:
QuickBooks Online offers free phone support, while the Desktop version costs $89 for 90 days. Using SaaS solutions, generally, means better support from the software service, as their IT support staff can remotely fix and help with software issues at any time.
With an on-premises solution, the problem may be in-house, which means internal IT teams have to work it out – collaborating with phone support if needed. Having free phone support, when needed, helps SMBs bypass accounting issues quickly and efficiently for continuous business productivity.
From the smallest one person business to the medium-sized business with hundreds of employees, QuickBooks Online offers the affordability and functionality needed to streamline their accounting processes. These 5 advantages SMBs gain when using this innovative accounting solution, shows why more and more businesses are choosing cloud-based accounting software.
MOD Ventures understands how useful QuickBooks Online software is for SMBs, as it’s the platform we’re experienced with and have expertise in. We help businesses integrate and use this innovative accounting solution in their: daily AP/AR workflows, quarterly and annual tax preparation, and more. With our comprehensive virtual CPA services, SMBs can take full advantage of QuickBooks Online. Please contact us today for a free consultation.
Read more about Quickbooks Online.