When it comes to dealing with finances for a small or medium sized business, most owners are faced with the choice between QuickBooks online vs enterprise solutions resource planning system.
QuickBooks Online is a practical and low-cost software for managing revenue and expenses, payments, and statements. Contrary to going for QuickBooks online as an enterprise system, some businesses prefer it for the following reasons. Well, let’s continue reading before you look for QuickBooks pos merchant services.
Lower Upfront Costs
Key benefits of outsourcing include the following: One of the areas that may experience lower upfront costs is information technology management. Firstly, QuickBooks Online has the disadvantage of a much lower initial price compared to enterprise solutions.
No big expensive items like hardware are required, and no IT specialists are necessary. The monthly subscription fees are as low as $25 per month for their basic package known as the start package.
Consequently, QuickBooks Online provides small businesses with the opportunity to organize their accounts with an accounting system but not with a very steep price. The low costs and predictable monthly fees make the financial planning to be easier.
Ease Of Use
Ease of Use refers to how easy it is to interact with a product/service without needing prior training. Also, QuickBooks Online is simple to use and user-friendly, which is quite significant for people with no accounting knowledge.
The user interface enables business people to configure the software to meet their established work procedures. Such options as auto-categorization and auto-reconciliation are handy in cutting down the time spent on the usual bookkeeping.
As a user, one can execute and manipulate reports with ease, all through a touch of a button. In contrast, the enterprise systems are characterized by steep learning curves that require substantial training. QuickBooks Online gets owners moving without the need for them to be technical gurus.
Mobility And Accessibility
Mobility and Accessibility refers to the ability to move from place to place and access various facilities as a result of transport and engineering. In addition, QuickBooks Online can be accessed from any device with an Internet connection, including PCs and portable devices.
QuickBooks enterprise solutions allows owners to track the financial situation and have access to real-time reporting at any time. Some of the features that come with the QuickBooks mobile application include capturing receipts through photos, managing mileage, and creating invoices for clients.
There are commonly no mobile functions in Enterprise solutions or if there is an app, it would connect to On-Premise systems. This is particularly useful for QuickBooks Online because it allows for anytime, anywhere access which is important for businesses on the move.
Integration With Other Software
Further, QuickBooks online is also compatible with other software applications through the use of open APIs. Some examples are Shopify, WooCommerce, payment processors as well as bank feeds, payroll services, Office 365 and others.
Even more impressive, hundreds of apps in the QuickBooks App Store take it even further. Large-scale enterprise systems pose more challenges for third-party app integration.
QuickBooks Online allows businesses to integrate the accounting software into its operation with relative simplicity can be accessed from any device with an Internet connection, including PCs and portable devices.
Scalability For Growth
Scalability for growth means that the system is prepared for future expansion. Last but not least, QuickBooks Online for small businesses has the potential to grow as the company expands.
Their Plus plan is for businesses that process hundreds of thousands of transactions, more than 15 users, and comprehensive inventory tracking. However, a higher rate or where it is a big company, it may outgrow some of the features of QuickBooks.
The tradeoff for scalability is reasonable in most small businesses that are getting into an accounting solution. QuickBooks Online eliminates entry barriers to adopting essential financial practices from the onset.
Conclusion
All in all, QuickBooks Online offers an effective and cost-friendly solution to small and medium-sized enterprises for their accounting needs.
This is why the lower cost, simplicity, mobile access, integration, and scalability provide good reasons for companies to embrace it rather than opting for more complex enterprise solutions.
While ERP systems are useful in large-scale companies, QuickBooks Online is more appropriate for small growing companies as it is easier to use in managing finances.
