QuickBooks Online

Overall quickbooks is a good tool for small business to track expenses, invoice customers and track the invoices received. You can even email and customize invoices right from the software.

Vorteile

Quicksbooks is a great software for the small busineess. It allows for invoicing customers in an easy way. If you are out of the limit for the invoices, you can make a small purchase and make it online and can access it from anywhere and everywhere from the tablet, pc or phone. It is a real easy way for tracking the invoices and marking them paid with accounts receivable. It also allows for digital time card where you can record the employees time of in and out. Great software and easy to learn.

Nachteile

The things you want to consider improving the software is it should give easy ways for tracking the accounts paid and invoices paid by the customer. Everything else looks pretty decent.

We use Quickbooks Online for our practice, we utilize 3rd party integration for time capture (and yes while Quickbooks does offer this, requires the program to be open - a mini app would be perfect for this). Payroll is very flexible and easy to use.

Vorteile

Ease of use for the most common features (invoicing, expense capturing), receipt capture assistance, quick and flexible search, 3rd party marketplace. Accountant version has good client management.

Nachteile

Not all features available in mobile (no payroll), No automatic late charge/ overdue interest (requires either manual or using 3rd party integration which greatly increases cost of product). Document attaching limited only to invoices and expense receipt capture (should be on invoice payment). Time recording should be easier within desktop app (have mini app for this ). No integration into Office 365 (would be great to have ability to bill for emails, appts, tasks etc) as well as ability to see Quickbooks Receivables when viewing either Office365 contact or viewing, writing email

Overall I would say QuickBooks is more of a software made for people who don't know much about accounting. In that sense I would say it is very user friendly for those people. However when you put an accountant in front of this software my first questions were: "Where is accounts payable?" "Where is accounts receivable?" "Where is the general ledger?" These things just aren't marked that way. My first confusion was entering in invoices. Now usually this would be an expense but if you enter it in as an expense in QB it's really accounts receivable and you'll have to enter it in as a bill. Also one of the most confusing parts is keeping up with daily reports. Now I do understand that not every type of business needs to be doing this but in the hospitality business this is a requirement. This software makes it very easy to skip past a day and do other days and it will constantly change the "number" you had named the previous day. I find this slightly annoying and confusing. Sometimes I just don't remember what day I am on or what day I am missing simply because I can skip forward days (which can be nice). My overall opinion is slightly indifferent I would honestly rather only work with M3 only because QB runs slow. I think if it ran more smoothly I think I wouldn't mind working with it but it gives me a headache of how long stuff needs to load and get errors because it can't load all my properties at once.

Vorteile

What I liked most about this software was that you can connect the bank account to the property. This way it makes managing money and bank recons so much easier and faster. I also enjoy that I can easily delete and edit invoices or journal entries. This is sometimes a con as well. It all depends on if you know you won't accidentally click on something you shouldn't. I also like that I can easily enter in invoices and other things just by clicking on the + button.

Nachteile

My least favorite thing about this software is that the longer it is up the slower it gets for me. I am not sure if this is just my problem but we do also use M3 (another accounting system) and it never slows down for me no matter how long it is up for or what I'm doing. Of course it will take some time to load your first selection but runs super smoothly after. I am very disappointed at how slow this software runs for me. I am also not a huge fan of the layout of invoices and checks written. Looks slightly disorganized in my view.

Overall I am very pleased by my experience with QBO. While I struggled with initial implementation, it has very much streamlined financial management once I figured out how to more efficiently utilize the software. The flexibility of using QBO through my browser of software download is an immensely important feature that I cannot overstate - since my position is volunteer/unpaid, if I ever leave the organization they cannot be tied to a software downloaded on my personal laptop. Plus its just nice to know that I have access anywhere I need, regardless.

Vorteile

QBO has made it so much easier to stay on top of finances for the nonprofit I work with. It's so nice to add bills for reimbursement of expenses to stay on top of when the expense occurred as well as when the reimbursement check was written vs deposited. Automatic linking to my bank account and to paypal is a lifesaver. I don't know what I would do without locations or being able to use classes for fund reporting/functional expenses.

Nachteile

There was definitely a steep learning curve, and I've just had to accept that some of the transactions I was doing when I first started weren't done in the most 'ideal' way. I'm adding historical finances for 8 years and struggling with handling inventory in particular, since I'm both trying to keep up with current purchases/sales and build the historical financial statements. While the QBO online forum is generally helpful for troubleshooting issues, sometimes I run into features that just aren't available on QBO and only on QuickBooks desktop which is incredibly frustrating when I know how useful it would be.

Overall I’m very happy with QBO, but would prefer a more stable pricing model. The pro is £30 per month ex VAT but too many introductory offers e.g 40% off for a year, then 70% for six months. This inconsistency creates frustration for existing customers.

Vorteile

As long as you go Pro in the three tiers, QBO has a very good quote to invoice flow, that also easily enables the ordering process to you supplier as part of the workflow.

I like how it integrates with HMRC for VAT, easily pull out a quarterly report for the EC sales list, and view cash flow quickly with P+L and Balance Sheet reports.

Nachteile

I don’t think it handle’s multi currency very well as you can only hold products in one currency.

In addition, customising is very limited. Whilst I appreciate that to keep a stable SaaS product means limiting what you can do, it’d still be nice to have a bit more flexibility and options with additional fields and better custom templates (especially purchase orders).