By Dan Yue, Senior Associate

Today, there are more units of QuickBooks Desktop used by small businesses than QuickBooks Online. However, did you know that 80 percent of new QuickBooks users are choosing QuickBooks Online vs. QuickBooks Desktop? Perhaps it is time for you to make the change.

While Intuit is still supporting Desktop, it is encouraging its users to embrace its online solutions. As you can see by the QuickBooks 2017 release, the company’s strategic focus is online. For 2017, neither the Desktop Accountant Edition nor Desktop Enterprise is receiving any specific features and there will be no new versions of QuickBooks for Mac.

So, is it time for a change? Here are the key advantages of the online version:

  1. Automatically schedule and send transactions.
  2. You can choose to attach documents, images, signatures, and more to transactions using a mobile device or uploaded from your computer.
  3. Track by Location in addition to (or instead of) by Class and the ability to choose multiple location labels.
  4. Journal Entries can have multiple AR/AP lines.
  5. More users: You can sign up as many as five users, versus only one user on QuickBooks Desktop.
  6. Seamless integration with third party applications.
  7. Access to your QuickBooks online account wherever you go, and it works from a PC, Mac, smartphone, or tablet.
  8. You will no longer have to cover the cost of hosting, as QuickBooks online will be securely stored on Intuit’s servers. That means no need to back up your data, as with your Desktop version.
  9. Once you set up the connection with your bank account, the bank and credit card transactions download automatically each night, and you can easily add, match, or exclude transactions within the banking tool.
  10. It’s easier than the Desktop version to authorize your CPA to get access to your company files.

I think the easiest way to make the decision between QuickBooks Online vs. QuickBooks Desktop is to look at the features that QuickBooks online has that QuickBooks Desktop doesn’t, and ask yourself: Do I need these features?

If you find something that you absolutely need in QuickBooks Desktop, see if there’s a third party application (app) that can do it for you with QuickBooks Online. If there is no app, or you feel you would pay too much to add apps and fill in the gaps in QuickBooks Online, then QuickBooks Desktop might be for you. But remember, Intuit is investing more in its online products than their desktop products, and its online products will only get better and better.

We encourage you to consult with your CPA before you make the decision. Intuit generally gives CPA firms a better pricing and your CPA firm can assist with the set up and transfer or create a new shell for your business to make sure you get started on the right foot.

For more information about Quickbooks, please visit https://quickbooks.intuit.com/accounting/

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