QuickBooks Online is an accounting software offered by Intuit as a subscription-based service. It helps businesses manage their finances and perform accounting activities online instead of using desktop software. QuickBooks Online is a suitable solution for small business owners who want to reduce accounting costs while staying compliant with financial reporting standards.
In this article, we will review QuickBooks Online so that you can decide if it’s the right accounting solution for your business in 2022.
What is QuickBooks Online?
QuickBooks Online is a cloud-based business management software that helps you manage your finances and accounting activities. You can use it to track your expenses, capture new customer leads, and generate reports. The software is available as a subscription-based service, so you don’t have to buy it upfront. Once you sign up for a subscription, you’ll be able to access your business data from anywhere as long as you have an internet connection.
Is QuickBooks Online a good product?
QuickBooks Online is a good product but it’s important to note that it’s not the best solution for every business owner. QuickBooks Online is particularly helpful for startups and small businesses who need an affordable accounting solution that can help them manage their finances. It can also help you avoid hiring an accountant since you can perform key accounting activities such as tracking bills, calculating profit and loss, and generating financial reports using the software.
What are the reviews like for QuickBooks Online?
The QuickBooks Online reviews are generally positive with most users praising its user-friendly interface and ease of use. Users also appreciate that the software is available as a subscription and can be accessed from anywhere.
While the majority of users recommend QuickBooks Online, some users do mention that the software is not suitable for businesses that have complicated accounting needs. These users also mention that the customer support is not always the best and can sometimes be slow to respond.
What are the advantages of QuickBooks Online?
QuickBooks Online offers a number of advantages compared to other small business accounting platforms on the market in 2022. Some of the biggest advantages are as follows:
- Powerful reporting tools
- Payroll tools and automation
- Tax reporting and compliance
- Cash-flow management and forecasting
- Subscription-based pricing model
- Can be accessed from anywhere
- Easy to use
What are the disadvantages of QuickBooks Online?
QuickBooks is the most popular accounting software in the world, but that doesn’t mean it’s perfect, or that it’s right for everybody. Here are some disadvantages of using QuickBooks Online:
- Not the best solution for large corporations
- Limited number of users supported
- Customer service can be slow to respond
- To access all of the features you’ll need an expensive plan
Overall, QuickBooks Online is a good choice for small businesses that want to manage their finances and accounting activities online without hiring an accountant. It’s available as a subscription-based service and is a good solution for businesses with limited accounting needs. However, it’s important to note that it’s not always the best solution, especially for large corporations with very complex accounting needs.
LiveFlow is one of the best small business accounting platforms in 2022, and it’s the perfect complement to QuickBooks Online. LiveFlow offers helpful templates and boasts a number of great features, such as the new Live Budget vs Actuals tool, which can save you a ton of time and resources. You can check out the platform for free with a 30-minute demo, so be sure to try LiveFlow today.