Written By: MB Group
Today, a stunning 3.2 million people in the United States and 1.3 million internationally utilize QuickBooks Online (QBO). This very popular online accounting software package is designed to primarily help small and medium-sized businesses manage their finances. And if you're considering using QuickBooks Online, it's imperative you have an in-depth understanding of the pros and cons of this solution. Let's take a closer look at the pros and cons of QuickBooks Online.
In general, QuickBooks Online offers business owners with a convenient remote access accounting option. You, your accountant, and bookkeeper can essentially log into the web-based platform from anywhere. And this online functionality can be a major benefit for service-based businesses. A few key advantages this software may offer are listed below:
While QBO offers a number of enticing benefits, users have consistently reported several issues associated with the bank feeds feature. Here are some of the most common pitfalls of the bank feeds and quick-fix solutions you may be able to implement.
Bank reconciliation is a critical function. And while QBO offers this functionality, it's very cumbersome and can lead to more problems than it looks to solve. Consider the following:
Here are a couple common general ledger issues that customers have reported as problematic.
Ensuring Uncle Sam receives his fair due is paramount! And while QBO offers features to help you do so, it can also create a whirlwind of confusion and trouble. Beware of the following:
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