Welcome to in the Trenches MBA! In this video we are going to talk about some of the functions, pros and cons of using quickbooks online for your small business books. This is just a sampling of functions. There is a reason QBO is the industry standard!
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QuickBooks Online for Your Finances
QuickBooks Online Primary Function… (0:11)
• Bookkeeping & Accounting
• Quick Books Payments for Direct Payment Via Email
• All the Financial Reports You Will Ever Need As A Small Business
• Industry Standard for Small Business
QuickBooks Online Pro’s…(00:29)
• if setup and used properly it can save you money at the Accountant
• No Double Entry to reconcile accounts
• Classify your expenses to see where your money is going
• Know who owes you money and how much potential you have
• Always know where your money is
• Can be use as time clock.
• Integrates with a lot of other software including Zapier
• Integrates Direct with your online banking
• Get rid of the excel spreadsheets and invoices
• Automatic billing if you are on a renewal system.
QuickBooks Online Con’s (01:22)
• Some accountants prefer the desktop version still
• You must set it up correctly and be trained so it can save you time and money.
• As of Feb 2017 – Suggested Tier $12-30 per account