Pros and Cons of QuickBooks Online
Business owners have a lot of accounting to juggle. You are responsible for bills of the business, payroll, accounts receivable, accounts payable, receipts, miscellaneous items, and much more.
It’s vital for businesses to keep good records, and QuickBooks is a software that is used often by business owners. While QuickBooks is commonly used, there are pros and cons to the online software.
QuickBooks’ software focuses on automation making it easy for the end-user. This includes payroll and tax calculations. Reminders can also be automated, ensuring that you don’t miss a deadline or any important detail.
Especially relevant during times like these, remote access is an important factor for business owners. Easy access from any device is important, especially for business owners on the go. Accessibility is key.
QuickBooks can integrate with nearly any bank, credit card, or other financial management software. This will streamline processes and procedures and continue automation.
- Difficult for beginners
Once you have learned the software, QuickBooks can be easy to navigate. But for those who are just diving in, it can be confusing. Tutorial videos are highly suggested by seasoned users.
With accessibility also comes some security risk. Because it is not on-premise software, users can run the risk of important financial information becoming vulnerable to hackers.
Just like most things in 2021, QuickBooks operates on a monthly subscription. While this may be convenient, some users who run multiple companies have to pay multiple fees, which can add up quickly.