Updated: Aug 3, 2020
Have you ever thought of using QuickBooks as your main financial tool? Even if you already decided to choose QuickBooks, QB Online or Desktop? Which one is more ideal for your business?
QuickBooks Online vs QuickBooks Desktop QuickBooks Online and QuickBooks Desktop are small business accounting software that differs in features and data accessibility. QB Desktop is ideal for businesses selling products, and QB Online is more suitable for service-based businesses that do not spend much time in the office. Businesses prefer QB Online for its high date accessibility. However, QB Desktop offers various functions QB Online does not have, such as the FIFO method for tracking inventory.
QB Online data is automatically backed up, so you don't have to worry about malfunctions or forgetting to save your records. Also, QB Online is the most up-to-date version of QuickBooks, unlike QB Desktop. This means you do not have to upgrade to a new version to set up new functions. Another function is that QB Online allows access from multiple users from different places all over the world.
However, unlike QB Online, QB Desktop offers two options for tracking inventory: the average cost method and the FIFO method. The FIFO method is available when you purchase the Advanced Inventory add-on module. Using batch invoicing capability allows you to invoice multiple customers at the same time. QB Desktop has a few more features compared to QB Online.
The answer to which QuickBooks you need boils down to what version of QuickBooks is going to serve the needs of your business best. Still not sure which one to use? Contact Irvine Bookkeeping today and let us figure it out.
If you need advice or services on any aspect of bookkeeping, accounting and tax, our specialists are ready to help. Get in touch with us for free quote.