While many business owners might stress about choosing the right accounting software for their business, Edmonton bookkeeping says that business owners can narrow down the choices quite easily. The recommendation is to have business owners choose between QuickBooks online and QuickBooks desktop. While the recommendation is not because they believe QuickBooks is the best software ever. But because QuickBooks is the most popular accounting software in the world. This means that if business owners are looking for support, or for employees to help them with their bookkeeping, this software will suit those needs very well.
However, business owners should not make the assumption that QuickBooks online and QuickBooks desktop are the same software. They both have very different features and different capabilities that should be looked at in order to make the decision on which one is going to suit a business owner and the best. However, business owners probably have already guessed that QuickBooks online is an Internet-based software, and QuickBooks desktop is not. Therefore, if a business owner is not in an area that has reliable Internet, or any Internet service then it makes the decision quite easy to go the QuickBooks desktop instead.
The other big difference is that QuickBooks desktop is housed on one computer, and ideally, every person who accesses the information should use that one computer. However, if people want to update the information from multiple locations, the master file must be moved to that computer. Edmonton bookkeeping says that this might provide a challenge logistically, requiring business owners to coordinate when they are going to use it, or how they are going to get that file to their Edmonton bookkeeping company so they can update the information as well.
While people can have that master file live in a cloud, if they have challenges with reliable Internet, this may not be as effective. Also, business owners need to be aware that if they have this file being served on a cloud, each person will have to take that file and uploaded into their computer prior to making changes, otherwise they will not be making changes to the most updated file.
Ultimately, Edmonton bookkeeping says that business owners should look at ease of sharing, in order to make their decision because the easier it is to share files, the fewer mistakes that are going to be made. And if business owners are only going to be updating the file on one computer, or if they do not need to be making updates while there Edmonton bookkeeping company is working on their interim financial statements, QuickBooks desktop is going to be a great option for them.
Ultimately, when business owners are making the decision between which QuickBooks software they should use, they should consider how many people are going to need to access the files and how often they will need to access them. Ultimately, the easier it is for people to use the software, the more they will be updating the information, ensuring that a business owner has the most up-to-date financial information for them to make business decisions with.
Edmonton Bookkeeping | Why Business Owners Should Use Quickbooks
When business owners are deciding on which accounting software is the best one for them to use, Edmonton bookkeeping says they should consider different functions of the most popular software. The reason is because not all accounting software have the same functions or features. Business owners should choose a software that they are the most comfortable with, to increase their likelihood of using it on a regular basis so that they can end up with the most up-to-date financial statements.
When it comes to QuickBooks online, business owners should be aware of the features that automate a lot of processes. Edmonton bookkeeping says that bank feed is a completely unique feature to QuickBooks online. It allows a business owner to link their business bank account up to their QuickBooks online software. Therefore, every transaction that is made, gets updated to the software in real time. That means that every time a business owner or their Edmonton bookkeeping company looks at the information, it will be as update as possible, without anyone having to do any data entry.
The next thing that a business owner should understand that is a new feature in QuickBooks online, is the ability to upload credit card and bank statements directly into the software. Again, this minimizes the amount of manual entry that a business owner has to do in order to get updated financial statements. This is especially beneficial for a business owner that has a lot of transactions in their business. By minimizing the amount of time it takes to get information entered into the software, business owners as well as their Edmonton bookkeeping company can spend more time ensuring the rest of the financials are accurate, and giving better interim financial statements.
However, business owners who have a lot of cash transactions, may find that this is not a feature that is most beneficial to them. And if that is the case, Edmonton bookkeeping recommends that business owners use QuickBooks desktop. The reason why, is because QuickBooks desktop is much more user-friendly for manual data entry. Which means business owners who have a lot of manual transactions to enter will be able to do it faster and more accurately. The more accurate the information that business owners are entering into the software, the more accurate their interim financial statements are going to be.
Ultimately, business owners should understand that the matter which software they choose, they are going to be able to end up with accurate financial statements that a right to help them run their business. Therefore, they should not spend as much time making the decision as they do entering information into it. The more frequently they use the software and update the information, they better information they are going to have. Since business owners should be using updated interim financial statements prior to making any financial decision, the amount that they are going to use the software is important.