Quickbooks Online provides a simple, easy to use interface with powerful enterprise-class features. It helps us keep our expenditures organized, preventing us from allowing money to slip through the cracks. Running a small business requires a ton of work, but making our customers dreams come true makes it all worth it. Building and maintaining customer relationships is time consuming. It leaves very little time for administrative tasks like accounting. Quickbooks allows me to maximize my time spent with customers building brand and business, and minimize time spent on important but mundane accounting tasks.
While I find incredible value in Quickbooks Online, I wish the performance were faster. I often find myself click and waiting, clicking and waiting, etc. When I get my brain in an administrative mindset I can move very quickly, and I wish the software would keep up. Opening an expense to edit a field and save takes longer than it should. I have even tried using the Desktop app version of Quickbooks Online, which is supposed to increase speed, but I still feel like it performs slowly.
Before we switched to quickbooks, we had a manual process for tracking business spending. While cost effective, this method was tedious and we would often find we had missed expenses because they were charged to odd accounts or we misplaced receipts, or forgot properly reimburse expenses purchased with personal money. Keeping all our data in Quickbooks has completely changed the game. The subscription costs are easily paid for with the tax savings we enjoy by not missing expenses.
QuickBooks Online is used by our important team in my company, consisting of accountants and assistants to handle the quote, as well as billing of overhead costs, office supervisor perform for refunds, difficult prices and payroll, as well as to view statements and also future charges. Having multiple users helps to divide responsibilities and, at the same time, keep everyone with ease for solution and responsibility.
Use that same due date for my next billing whenever I set a new invoice or postponed cost as well as adjust the due date. If I am not extremely careful while adding late costs, it can become very complex. When I produce a late fee, I include it in a tracking line; however, when I create a bill based on this deferred charge, that registered line is not transferred.
I believe that QuickBooks is a good option for financial control for small and medium businesses, also if you plan to monitor your own business expenses, the QuickBooks program is an excellent solution to choose. We are using QuickBooks for our office audit. All financial resources are maintained through QuickBooks, such as acquisitions, billing, etc. We also use QuickBooks features to keep an eye on many of our products.
The online version of Quickbooks is easy to use and fairly self-explanatory. You link up bank accounts in order to pull through expenses and revenue. Quickbooks tracks all information for you and provides dashboard analytics, which I love. You can filter by month, quarter or year to see if you are on track with your budget. I love that you can export excels and do additional analysis offline. For expenses, you can provide additional detail and receipts. I love this feature, particularly during tax season.
One of the biggest complaints I have is with the invoicing. If you use Quickbooks to invoice, they charge you multiple fees to use their service. They don't outright tell you this and I was surprised to find two additional charges to our account when we invoiced a customer. Each time you send an invoice they take out a flat fee AND a % (usually 3% or so). I had to switch to using my bank invoicing system because I can't afford the fee through Quickbooks. They also continue to increase monthly pricing for us, which can be frustrating with such a small budget. This is probably a tool that will only be used by small businesses. Once you get too large, it's probably better to hire an accountant.
I don't have time to keep track of expenses, receipts and revenue. Quickbooks organizes it all for me and summarizes the data in a nice, easy to use dashboard. I can quickly look at our monthly or yearly profit margin without doing any calculations. It also allows me to share the tool with my business partner, who needs to enter in receipts and expenses as well.
I love how QBO pulls in all bank feeds automatically and allows for changes to these transactions as necessary. As an accountant, this software makes my job much easier for seeing how the company is doing. The snapshots on the homepage are very beneficial and the quantity and quality of the reports you can generate from the software is amazing. I highly recommend this product. While I did not implement this software at the company I am at, I am constantly discovering new features that make me love QBO even more.
I think Quickbooks needs to enhance their communication with Bank of America, as transactions are sometimes slow to download into the feed. I also find that the software sometimes freezes on me. This isn't often, but something that, when fixed, would greatly improve the quality.
I solved my small business's issue of manual invoices by taking advantage of Quickbook's ability to invoice customers online. Customers can also pay via Quickbooks for immediate payments. While this method charges a small fee, it is well worth the savings of time and effort. I also use the profit and loss report almost weekly to show my boss how the company is doing in terms of earnings and expenses, so that she knows when we need to cut back on costs in order to generate highly percentage of earnings.
I like the integrations and do find it easy to use.
Terrible experience. After over 10 years of using the product I called at end of year to request a discount for the next year as I was being offered far better prices from competitors and considered switching away. Spent about an hour on that call and was promised a 50% discount if I stayed a customer. I agreed but wound up being charged the full amount. When I called back I spent nearly two hours on the phone with them to get that refunded and then they said I needed to pay the full amount again but promised that they'd refund $160 of that per my discount. So I paid a further $320 and then the guy said "oh, I'm sorry, a 50% discount is no longer available, I can only give you a 40% discount". Feels like a complete scam to keep customers by offering discounts then not actually giving them those discounts after they pay in good faith. Be careful.
Quickbooks doesn't solve any problems for me, it only causes problems.
We use QBO for multiple businesses and one specifically where we fully take advantage of the Estimate, Invoice, and PO functions. This all works seamlessly and helps us to stay organized. Best that all those features are in one single service allowing us to work quickly. Being able to quickly view the status of the business from a web browser or phone app, makes things a lot less stressful. Having an accountant keep all the information can sometimes be tough depending on how much you need to interact with your data (like categorizing expenses, or managing estimates, invoices, and PO's).
I dislike the cost and the fact that you must pay a subscription plan for each individual business. This can be tough for smaller businesses just starting out. When compared to the desktop version, it is a one-time fee and the desktop version can host multiple businesses. To try to manage these costs, we have moved some of our QBO instances onto the desktop version run by our accountant. QBO cloud features are not all necessary for standard accounting. So if you need simple accounting, I would stick to the desktop version, or better yet, try to use the desktop version and let your accountant manage it.
Outside of standard accounting, we are able to buy and sell products using the Estimates, Invoices, and PO functions of the Plus plan in QBO. To have all of these functions in other accounting services is not competitive. These tools help us track costs across the business. Being able to convert estimates to invoices, and then in invoice settings be able to charge a percentage of the total or a percentage of individual line items offers a lot of control and flexibility. This helps when billing customers/clients for either products (buying wholesale and selling retail) or for services (allowing to charge for a deposit up front and then charging for the remainder when the job is complete).
The features of the platform are great! They truly make it easy to keep your books in order. Their app used to be good as well, not sure why that started getting less and less featureful and stopped working as well.
I have used Quickbooks products for 15 years now and have been happy with everything they've put out up to a couple of years ago. As they started coming out with new products like QB Cash I was quick to sign up and start using them. They promised great features that I was excited about; however, that's when everything became a dumpster fire for me. They started getting rid of features on their mobile app, one of my other businesses used QB Self Employed, and they started getting rid of features there as well. QB Online began to have a lot of glitches, wouldn't load at all, would freeze, would quit randomly as I was building an invoice and had to restart, etc. And I tried multiple devices, browsers, etc. The app also barely worked anymore to the point I stopped using it all together. I tried to sign in the other day, and it literally took 10 minutes just to try and sign in to my account from my phone because of loading times, pages crashing, etc. Now for QB Cash, I actually lost money through that. I tried to make a transfer, and the system glitched, and it didn't go through, but then they charged me a fee because of it. When I tried to get help, no one could help me. I got transferred to 3 different departments, and none of them handled QB Cash. One person FINALLY was able to tell me it's not even handled by QB, it's by a third-party bank which is fine, but even the customer service and online portal was supposedly handled by them. So I called them, and they didn't know what I was talking about; they didn't even know what QB Cash was. So I kept calling people and FINALLY got to someone who said they handled QB Cash, and I shared my issue, and surprise surprise, she said she couldn't help either. But at least she was able to submit a ticket to her support team and said she would get back to me - that was more than six months ago. After that, I was charged TWO MORE FEES all for something that wasn't even my fault. So I tried to get all of my money out of QB Cash and close the account, but for two weeks, it was glitching every time and wouldn't let me. So I called in multiple times, and still, no one could help. I finally figured out a work-around with PayPal and got my money out. Then I had to pay back all the fees because they were about to put me in collections, and I didn't have time to spend hours fighting with people who just kept telling me they couldn't help. Then when I tried to cancel, two accounts went just fine, but my third has been a mess. I canceled it on my own through the settings like my other two accounts, but that didn't work. So I spoke with someone to have them cancel it for me, and to my surprise, they not only canceled it but refunded my last payment! That was two months ago. Then this week, I got a notification that QB tried to charge my card. Thankfully I froze that card so that they couldn't charge me. So I called in and was assured the account was canceled, and I wouldn't be charged, but of course, today, I was charged. And had to spend another 30 minutes getting that fixed. I could go on and on, but bottom line, I've spent hours and hours on chats and on the phone with QB support because their product has become so difficult to use with all the technical issues, and their customer serivce has been terrible except for a few very good agents. On top of that, I signed up at $35/month, and over a few years, it was raised to $53/month, AND their payment processing fees have gone up considerably as well. So I switched to WaveApps that is FREE and has more reasonable payment processing fees and does everything QB does - without the glitches.
Accounting for my business, and they did a great job of reporting and helping me see exactly how my businesses were doing.
QuickBooks Online is extremely simple to utilize notwithstanding for the individuals who don't have an instruction in bookkeeping and money. I began utilizing QB Online 5 years back with no formal preparing - just got in there and took in the essentials. Before long, I had an incredible comprehension of the product and was regularly a teacher to associates who expected to become familiar with the product. It has extra highlights yet generally is comprehensive, no compelling reason to pay additional. The plan is straightforward and straightforward when finding a receipt or hoping to coordinate a cost. Quickbooks enables you to speak with different individuals from the group without printing out sheets in Excel. In Fact the way that you can report exchanges and effectively seek and adjust them makes it an extraordinary framework. Best of all, it associates specifically to the bank the organization utilizes hence making it prevalent as far as bank compromise required by the expense CPA firm we utilize. The way that it works with various frameworks implies that we can acknowledge installment and use bank applications, work with our bookkeeper, just as perceive how much the merchants we utilize pay us, al on one screen. The straightforwardness discloses things to senior administration and continue meeting short however exact.
Quickbooks permits opportunity yet ought to have had a worked in Payroll include or if nothing else keep up aggressive estimating. The Payroll Upgrade costs as much as it would to procure my very own CPA to do bookkeeping. On occasion QuickBooks Online can be moderate to load, and a portion of the highlights are somewhat inconvenient. There are snappy connections for solicitations, however to get to gauges you need to travel through a few stages; the business charge following and detailing framework likewise fails to impress anyone.
I use QuickBooks for each bookkeeping undertaking. The navigate to pay solicitations is incredible, I observe the stock following to be priceless, just as progressively standard capacities. I like the capacity to make a business receipt instead of a receipt for certain buy classes. It causes me see the wellbeing of the business and how a lot of cash we really have in the record consistently. Its pleasant to perceive what has cleared as of now and discover botches. When you accommodate the records it runs a lot quicker with practically no errors since it pulls your financial balance data day by day to coordinate what you entered.