Pros and Cons of QuickBooks Online 2021

by James Antonio

One account of its rising popularity, QuickBooks Online for small business has been used by many enterprises and professionals across various industry verticals.

With multi-platform sync and cloud connectivity, QuickBooks Online has taken business accounting a step further and has become the hot favorite for new users. QuickBooks Online is far more than the digital version of the original QuickBooks.

Besides the fact that QuickBooks Online is largely used by small businesses across the globe, it has several additional accounting features which the desktop version is lacking. Also, it falls behind on certain factors which go beyond the functionality problem.

Whether you require a modern solution to handle company books or conduct as a professional accountant for different businesses, it is highly important to learn about QuickBooks Online and what are its pros and cons.

The following content will help small and mid-sized businesses to get all the necessary information that you must be aware of about QuickBooks Online.

What is QuickBooks Online Software?

In layman’s terms, QuickBooks Online is a digital accounting solution for small and developing businesses. This software has gained its reputation even with business owners who do not have formal accounting training.

QuickBooks Online is a cloud service where every user is required to pay a monthly subscription fee for using it.
Unlike the desktop version, QuickBooks Online offers integration with any third-party software and financial services like credit card companies, banks, etc. Here are its extensive and primary uses:

Managing Company Income and Sales – QuickBooks Online enables users to handle sales along with income by preparing invoices to monitor sales. Business owners can learn how much each customer owes just by looking into the Account Receivable report and check the past and present due invoices.

Business Reports – When any business owner is recording and handling cash inflow and the outflow in QuickBooks, many reports can be generated via the software. These reports can be run in just a few clicks and then they are uploaded in real-time. Add to it, valuable insights can be gained from such reports which are of great use while negotiating with an investor or acquiring a loan from local banks.

Payroll – QuickBooks payroll function automatically runs and calculates the total payroll of the business. Using the software for payroll activities helps the accounting software to get an updated financial statement due to the integrated system.

Pros of using QuickBooks Online

As per business reports, the majority of the users are happy using QuickBooks users are content with its digital version as their online accounting partner. Users can identify the accounts instantly and this saves significant time and tax of the users.

  1. Remote Access- Cloud computing primary benefit is that the users can access the accounting system from anywhere they want. This builds confidence and convenience in users for using an online system that is secured.
  2. Tracking Expenses- QuickBooks users are given the option to prepare rules in order to track the expenses. Based on user needs, it can be general or granular. Expense items can be grouped into a broad category or can be broken down into specifics.
  3. Automating Payroll- In QuickBooks Online, users can calculate and run payroll automatically when the checks are deposited manually. Automating payroll is very helpful for businesses to boom.
  4. Easy Integration- QuickBooks Online enables easy integration with credit card companies, banks, and other financial institutions.
  5. Exciting Invoicing- QuickBooks Online is often preferred by users because of its invoicing feature.

Cons of using QuickBooks Online

Based on the review of few users of QuickBooks Online, here are the cons or negative impact of using this online accounting software:

  1. Difficult to Comprehend- The interface is simple and hence does not go with the rich features involved. Some users have complained that learning this software is not easy in comparison to other online software. For some users, this software is very complicated, not calculated, and can emerge as big trouble if any error is committed in the entry. Some have suggested using a video tutorial would be of great assistance for the completion of the tasks.
  2. Entries Missing- For some users, it is a matter of concern that this online accounting system uses due dates in the wrong manner automatically for the next invoice. Sometimes, when a category or department is altered in an invoice, it washes away all the data from the invoice, compelling the user to begin all over again.
  3. Building Reports is Limited- Few users have noticed that reporting is far better in the desktop version in comparison to the online version. The report builder has limits and the charts cannot be customized. Additionally, cleaning up outdated reports consumes far more time, and exporting reports to PDF or Excel format is hardly reliable.
  4. Inventory Management Problems- QuickBooks Online has difficulty in dealing with inventory management concerns. It can be resolved with the help of third-party software.
  5. Syncing Issues- There has been many cases where the QuickBooks online users have faced syncing problems when it comes to credit card transactions. It takes around 1-2 days to sync properly. Also, the platform often goes down more frequently than expected.

What is the Best Option?

If any aspect of QuickBooks Online proves to be useful and can help you find the solution to your problem, you should go for it.

Or in case the app does not meet your expectations on certain occasions when it comes to sales receipts, customer data, bill payment tracking, mileage tracking, etc. it is highly recommended to search for a more reasonable option so that you don’t lose extra business cash.

On the other hand, you can commence using the selective solutions in QuickBooks Online by substituting for the other features. For example, rather than signing up for QuickBooks payments, you can hire a more affordable payment processor then integrate the app with your QuickBooks Online.

Features of Dancing Numbers for QuickBooks Desktop

Imports

Imports

Exports

Exports

Deletes

Deletes

Customization

Customization

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

Easy Process

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Error Free

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

On-time Support

We provide round the clock technical assistance with an assurance of resolving any issues within minimum turnaround time.

Pricing

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Importer, Exporter & Deleter

*See our Pricing for up to 3 Company Files

$199/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Unlimited Export
  • Unlimited Import
  • Unlimited Delete

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Accountant Basic

*See our Pricing for up to 10 Company Files.

$499/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer,Exporter,Deleter
  • Unlimited Users
  • Unlimited Records
  • Upto 10 companies

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Accountant Pro

*See our Pricing for up to 20 Company Files.

$899/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 20 companies

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Accountant Premium

*See our Pricing for up to 50 Company Files.

$1999/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 50 companies

Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

Get Support

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

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