QuickBooks Working Online versus Buying Software

The movement by companies to offer working online as well as purchasing software is almost standard procedure and QuickBooks is no exception.For businesses that work from various locations, the choice to connect online is invaluable. For suppliers, the ability to provide the most up-to-date versions is a definite benefit to keeping customers happy and problems at bay. So how do you decide between working online versus buying software?

Of the 13 key options offered by  QuickBooks , the purchased version only makes four standard. There are another 6 that you can pay additional to use, leaving three tools unavailable to software purchasers. For businesses, two major points here stick out: 1) the mobile version allows you to work from a variety of devices at any time and 2) if you add up the extras the software version could tack on another $200.00 per month!*
If you happen to make use of a variety of other online payment apps such as PayPal, American Express and Square,  QuickBooks Online will connect and sync all your important data. This is critical if you work outside the office and need an accurate, real-time view of your accounting.
Another valuable feature is encouraging the green-living movement. By taking photos of receipts or acquiring digital receipts, you can easily upload these to the appropriate transaction and eliminate the paper pile. Better for the environment and keeping your office clean.
Another invaluable benefit is the collaboration element. With the online version, you can securely bring together your accountant and/or other team members to view and manage files simultaneously. For anyone using software, this element can become quite jumbled and time consuming.
For software buyers, there is the benefit of paying for software once rather than an ongoing fee. If you're on a tight budget, and can forego the additional perks, this may be a better option for your office. Online service fees will range from $18-$40 every month while purchasing is a one-time investment of $200-$300. Even if upgrade every year, the purchased software will cost at most $25/month. The software version still comes with amazing accounting abilities, a help desk, and downloadable upgrades so your business will function fine in this mode.
Software purchasers can also choose the Pro Plus annual subscription version which offers support, data backup and upgrades. No is the time you may need Quickbooks or a calculator to weigh the costs versus benefits to make your final decision.
If you need a more in depth analysis of which way your business should go, contact PK Tax Services as we have a QuickBooks Pro in our office ready to help.


* Figures derived from the Quickbooks.intuit.com comparison chart