Deciding which version of QuickBooks is right for you can be confusing. If you’re a product based business with complicated inventory needs, you should go with QuickBooks Desktop. However, if you’re a service-based business or one that needs access from multiple computers, then QuickBooks Online is your best choice.
When to Consider QuickBooks Online
QuickBooks Online is your ideal solution if you are a service-based business that does not need inventory tracking options or does not have complicated invoicing requirements. QuickBooks Online is best for companies that want access from multiple devices, have more than one person who needs access, as well as those that desire automatic updates from the cloud.
You should ultimately consider QuickBooks Online if you want the following:
Ability to give your accountant or other users access from any location: QuickBooks Online allows you to set up a user id and password for each person who needs to access your data from wherever they are located.
Ability to enter transactions using a mobile device, PC or a Mac: QuickBooks Online does not require software installation. Therefore, you can just open up a web browser from your mobile device, PC or Mac and log right into your account to quickly access your data.
Automatic, real-time updates: As you make changes to your data, QuickBooks Online updates automatically. Whether there is one person in the QuickBooks file or multiple users, changes made are updated in real-time.
When to Consider QuickBooks Desktop
QuickBooks Desktop is generally the best solution if you are a product-based business that needs inventory tracking options and batch invoicing. There are also industry-specific desktop versions that are great for contractors, manufacturers, wholesalers, retailers, and more. However, the desktop version can only be accessed from one device.
You should ultimately consider QuickBooks Desktop if you want the following:
Multiple inventory tracking options: QuickBooks Desktop offers two options for tracking inventory – the average cost method or the FIFO method (FIFO method available when you purchase the Advanced Inventory add-on module.). QuickBooks Online only allows inventory tracking using the FIFO (First In First Out) method.
Batch invoicing: QuickBooks Desktop has batch invoicing capability. When the amount and type of service you are billing multiple clients are the same, this feature allows you to invoice them all at the same time.
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