We love QuickBooks Online here at Polymath and many of our clients use it and are thrilled with the product. (Check out 5 Reasons to Switch to QuickBooks Online if you want to learn about why we like it so much.)
That said, when choosing an accounting software, the most important factor is whether the software will work for your business. The following are reasons that your business may want to keep QuickBooks Desktop for PC or Mac:
- If you need to have a very large customer or vendor list, you may need to stay with QuickBooks Desktop. QuickBooks Online currently supports a maximum of 14,500 name entries, which includes your customer, vendor, and employee lists COMBINED must total less than 14,500 names.
- If you need to track inventory, QuickBooks Online Plus has some inventory tracking tools, but does not include inventory builds for manufacturing companies. There are apps available for QBO that give more inventory options, but, in general, the tools are more limited. If you deal with a large volume of inventory, using QuickBooks Desktop may be the best fit for your business.
- If you have a large number of employees who need their own access to your books, QuickBooks Online Plus has a maximum of five custom users and two accountant users. You can purchase additional user seats, but larger companies may be better served with more customization for the areas that each user is permitted to access. With QuickBooks Enterprise Solutions you have the option to have up to 30 users with lots of customized settings for each.
- If your business deals in multiple currencies, this is a feature only available in the QuickBooks Desktop products.
- If you use the price levels tool when charging your customers for your products or services, this is not a feature that is currently available in QuickBooks Online.
- A good rule of thumb is, if your business requires any of the advanced or industry specific tools in QuickBooks Premier or Enterprise, QuickBooks Online would likely not be a good fit. If there are other reasons that you would like to switch to online, some of these advanced tools can be replaced with third party apps. Make sure to do your research before making the switch.
This is a basic guideline list, we are aware that all businesses are different and have unique needs.
If after reading the reasons to switch to QuickBooks Online and the reasons to keep QuickBooks Desktop you still are not sure what is the best fit, give Polymath a call. We are happy to sit down with you and figure out what system will work best for your business.