QuickBooks Online vs. Desktop Edition
Having trouble deciding between when to use QuickBooks Online and when to use Quickbooks Desktop? Did you even know that the two exist and that there are differences? Quickbooks Online is better for service-based businesses, whereas QuickBooks Desktop Edition is recommended for businesses that sell products. Desktop has more features, but Online is continuously adding new features. Desktop has been around since the ‘90s, and you have to download and install software and periodic updates. Although it is equipped with fewer features, the Online version of QuickBooks is a more contemporary version of the software; all you need is an Internet connection, no downloading and installing updates on software that takes up space on your hard drive.
As previously stated, the Online version is geared more toward businesses which provide a service and which do not incorporate inventory tracking.
The Online version has many advantages:
- Your accountant and others may access your Online account via a user I.D. and password you provide them.
- Conduct transactions using a Mac, PC, or other mobile device.
- Automatic Updates – Online automatically saves any changes you make, similar to the auto-save feature in Google Drive.
If yours is a product-based business, then Desktop may be a better choice for your business’ financial needs and responsibilities. The Desktop version offers the following features and many more:
- Two Options for Tracking Inventory – Average Cost Method & FIFO (First In First Out), whereas the Online version only offers the FIFO Method.
- Batch Invoicing – Send the same invoice to multiple clients for whom you performed the same service at the same price.
- Industry-Specific Versions – For businesses that are one of the following: General Business, Contractor, Retail & Nonprofit, Professional Services, or Manufacturing & Wholesale, the Desktop version offers certain features depending on the category of business from the above-mentioned list.
Whatever the case, be sure to choose the right version of QuickBooks for your business.