QuickBooks is one of the topmost names in the accounting software business, but which version of the software is better for small to mid-sized businesses? QuickBooks Online or QuickBooks desktop. Both versions of the official Intuit product offer somewhat distinct features and services. So, to determine the ideal fit for your business here is a review of the pros and cons as well as features of both software.
Pros of QuickBooks Desktop:
- Provides advanced options specific to various industries that are only available on the desktop version.
- Does not require any internet connectivity to execute major functions.
- You get ownership of the software, and the data gets stored on your PC.
- You can control several company files.
- Most suitable for a business with distinctive product lines or requirements for tracking inventory.
Cons of QuickBooks Desktop:
- Expensive upfront charges.
- Limited assistance without supplementary costs.
- Unavailability of software updates without additional fees.
Pros of QuickBooks Online:
- Accessibility on several devices and platforms.
- No upfront charges, only monthly payments.
- Automated and free software updates.
- Unlimited customer assistance.
Cons of QuickBooks Online:
- You need to rent the software and the data is stored online
- Restricted by Internet connectivity and speed
- Operates only a single company file
- No versions for particular industries
Although you can always switch between the online and desktop versions with guidance from an Intuit service executive, you will have to import and export data from desktop to online version. There is no integration among both versions hence you cannot sync them.
The differences between QBO and QBD are also about their accounting features. Here are features of both software:
Features available exclusively in QuickBooks online:
- Automated scheduling and transferring transactions.
- Photos attachments on the transactions.
- Complete audit log to review activities and track modifications.
- Location or class tracking.
- Labeling clients with added label options.
- Automated syncing of bank transactions.
- Extensive time tracking and reporting.
- Journal inputs with several accounts payable and accounts receivable policies.
- Multi-budget function as per calendar or financial year.
- This QuickBooks Desktop Hosting version can be accessed from any device or location with internet connectivity.
Features available exclusively in QuickBooks desktop:
- Different versions for specific industries.
- Job-costing function.
- Estimation of accounting reports.
- Can be used with a Cloud Hosted Virtual Desktop to increase accessibility.
- Financial planning, forecasting, and creating balance sheet by class.
- Advanced inventory functions like average cost estimation.
- Automated inventory planning and tracking.
- Mobile inventory barcode scanning is available in the enterprise version.
Both of these versions of QuickBooks provide 30-day free trials
QuickBooks Online enables you to access all functionalities for the trial. There is no software installation. You can directly sign up online for the free trial.
You would have to install QuickBooks Desktop on your PC to avail of the 30-day free trial for the Desktop Pro 2021 version or Enterprise version.
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