QuickBooks Online or QuickBooks Cloud: Making a Choice

Cloud accounting solutions have become very popular among small and medium-sized businesses. Clearly, application hosting is no longer limited to the largest companies. Among all the accounting software available on the shelves, the most popular has been QuickBooks. Whether you are a first-time user of the QuickBooks app or those who are new to the business, the question remains the same: which is the better option between QuickBooks Online and QuickBooks Cloud Hosting?

Those who adopted the QuickBooks desktop in the ’90s are often looking for an upgrade. Depending on the growing business needs, business owners may feel the need to collaborate with a larger number of people. So, there may be a need for such a software that can meet the business needs without any hassle.

How to choose between QuickBooks Online and QuickBooks in the cloud?

Contractors have two options at hand. First, they can upgrade their existing QuickBooks Desktop app to the cloud and enjoy all the features as well. And two, they can switch to QuickBooks Online and enjoy a slightly different version than the desktop version.

Choosing between the two can be easy if users are clear about the features they absolutely need and those they can afford to give up.

Let’s discuss the benefits of each to help draw a clear distinction between the two types of software:

Quick Books Online:

QuickBooks Online is best suited for small and medium-sized businesses. Operated solely online, it allows its users to manage invoices and inventories, create financial reports and evaluate them periodically, accept and make payments, etc.

Advantages of using QuickBooks Online:

• It can be easily learned by watching some online tutorials.
• Work can be done collaboratively by five or fewer than five users at the same time.
• Small businesses can benefit the most.
• It allows companies to customize their invoices and email formats.
• QuickBooks Online stays in your pocket as the dashboard is also accessible from a smartphone.
• Users can integrate their accounts with third-party applications to facilitate the operation.
• It can be accessed from any device. Users do not need to install specialized software on each device to access their books online.
• Pricing is on a pay-per-use basis. Users pay a monthly fee and a surcharge for any additional features.

Cons of using QuickBooks Online:

• To include payroll, users must pay extra. QuickBooks Online does not offer free payroll.
• Being available only through the Internet, users cannot access their work files online if their Internet is down.
• Project management is not possible with the online version. Users should invest in separate project management software.
• Although Intuit claims it’s easy to learn, for beginners it can still seem like a bumpy ride. It takes a lot of practice and time to get used to the functions and become familiar with the whole process.
• Instead of paying monthly, users had to pay upfront for the desktop version and only once.
• It is not easy to transport data from the desktop version to the online version.

QuickBooks Cloud:

QuickBooks in the cloud simply means accessing the desktop version of the same software but on the Internet. Users can enjoy the exact features of the desktop application along with the ease of cloud computing. Cloud technology comes with a host of benefits that can benefit a business in a number of ways.

Advantages of QuickBooks Cloud:

• The software can be accessed anytime, anywhere from any device. The feature of universal access is one of the most prominent features of cloud computing.
• Users can customize forms and reports to their liking, which is not possible online.
• QuickBooks Cloud makes it easy to pay bills online, which saves time.
• Purchase orders can also be created in the cloud version of QuickBooks.
• It is easier for users to switch from the desktop version to the cloud than to transport data from the online version to the cloud.
• Multi-user collaboration is much easier in the cloud. Up to 30 users can work simultaneously on the same sheet, compared to the online version where at most only 5 users can collaborate.
• Users can also enjoy the tracking and reporting features available on the desktop version. This is not possible in QuickBooks Online.
• Users can try the QuickBooks cloud for free for a month before making a decision. Therefore, there is no need to make any initial payment.

QuickBooks Cloud Cons:

• Businesses that have more than 30 users may need to look at other platforms.
• It takes time for new users to understand the basics of cloud hosting. In the early days, users may need to invest time and patience to learn how the cloud works.
• Companies may need to train their staff when moving to the cloud. Everything changes when a company moves from desktop to cloud-based software.
• When a business moves to the cloud, its data is no longer under the direct control of the owner. This may raise a concern for homeowners. It is important for owners to choose their cloud hosting providers carefully to ensure the complete security of their business critical information.

The bottom line: