When the business wants advanced accounting software that helps to improve the accounting process. QuickBooks Cloud or Online sound similar but they provide different-different functionality to users. QuickBooks Cloud delivers the flexibility and automated features that help to work without being tied to a single device and location. QBO offers anywhere, anytime and real-time access to the users.
In this blog, we will discuss QuickBooks Cloud or Online, key features, pros and cons, and which one is good for your business.
What is QuickBooks Cloud?
QuickBooks Cloud is a hosted version of QuickBooks Desktop just like QuickBooks pro, premier and enterprise. This version is designed to help businesses to manage their finances without needing any backups, updates and being in office. It helps users to send invoices, track expenses, manage reports and cash flow from anywhere or anytime. It provides an industry specific tool but QuickBooks Online does not provide this tool.
In QuickBooks Cloud, you do not need to install any software on the computer and it can be accessible from any device like smartphone, tablets and laptop. It also makes sharable access with your accountant, team members and others in real-time. QuickBooks Cloud stores your data in the cloud which is always available when you need it.
What is QuickBooks Online?
QuickBooks Online is a cloud-based accounting tool that is made for small business owners, freelancers and startups which helps in managing their finance. It is run through an internet connection which means you do not need to install any software on your device. It helps to send invoices, track expenses, cash flow and you can also connect your bank account for transactions.
You need to only login from your phone, tablet and laptop to manage your financial work. QuickBooks Online lets your accountant and team members work on your financial tasks. It gives tools that help to keep your business organized, up-to-date and run smoothly.
Key Features of QuickBooks Cloud or Online
Here we explain key features of QuickBooks Cloud or Online.
QuickBooks Cloud
- Access: You login through a remote desktop using a web browser to connect to a hosted server.
- More features and customization: It provides advanced features like job costing, detailed inventory management and full reporting which the online version did not have.
- Hosted Provider: To use QuickBooks Cloud, you need to choose a hosting provider that maintains server, backups and security.
- High Cost and Control: Its cost is high but gives you more control on features, setup and third-party add-on.
- Ideal For: QuickBooks Cloud is ideal for larger terms and industry specific people.
- Pricing: You have software and charge some hosting fees.
QuickBooks Online
- Access: You can login from phone, tablet and laptop. Your data should save on a cloud that is accessible from anywhere.
- Built-in Tools: It provides invoicing, track expenses, cash flow, reporting and connects your bank account.
- Automatic Updates: QuickBooks Online handles all updates automatically like new features and the system stays current without doing any update manually.
- Monthly subscription: QuickBooks Online charges a monthly plan and you can pay for version that match with your business needs.
- Ideal For: QuickBooks Online Ideal for small business owners, freelancers and startups.
Pros and Cons of QuickBooks Cloud or Online
QuickBooks Cloud or Online software have their advantages and disadvantages which is mentioned below.
Pro and Cons of QuickBooks Cloud
| Pro of QuickBooks Cloud | Cons of QuickBooks Cloud |
| QuickBooks Cloud is accessible from anywhere. | It is more costly because you pay for QB software licence and hosting service. |
| You can get all features of QBD including job costing and customized reporting. | QuickBooks Cloud requires you to use a third-party hosting provider and this adds next level complexity. |
| It supports advanced features and third-party integration that cater specific business needs. | It should need to be set up through a remote desktop connection which is more plug and play. |
| It offers exact features and tools which are helpful for businesses with more complex accounting needs. | Its performance depends on quality of internet connection and hosting service reliability. |
Pros and Cons of QuickBooks Online
| Pros of QuickBooks Online | Cons of QuickBooks Online |
| It has an easy setup and it is ideal for freelancers, small businesses and those who need simple accounting features. | To run QBO you need stable internet connection and impact on your ability to access or update data. |
| QBO automatically updates the features and you always provide the latest feature or security. | It is less customized to run large businesses and you need specialization reports. |
| It offers a monthly subscription plan, especially for businesses that need advanced features. | QuickBooks Online is great for small businesses but it offers less features compared to QBD. |
Which One is Good for Your Business?
Here is a description of which software is good for your business needs.
QuickBooks Cloud is better if
- If you want to access from mobile, tablets and laptop then QuickBooks Online is a better option for you.
- If you prefer a more affordable, easy to use features and automatic updates.
- You want an accessible, straightforward solution for managing your accounting tasks from anywhere or anytime.
QuickBooks Online is better if
- If your business produces more complex functionality of QBD and you need a flexible tool to access it remotely then QuickBooks Cloud is a better option.
- When you need advanced features of QBD but flexibility to use it remotely.
- If you need complex accounting such as job costing, track inventory and custom reports.
Conclusion
In conclusion, we just want to say to choose the best one according to your business needs. QuickBooks Cloud or Online both are the best choice for managing your business finances. According to your business size, budget and specific accounting needs before making any decision. This blog helps you to understand QuickBooks Cloud or Online briefly.