Quickbooks Online financial management review

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In this review we are going to look at Quickbooks financial management software.

This software is developed by Intuit, and comes in various versions. We will look at the available versions later, but for now, let’s look at the features that are available in Quickbooks.

  1. Cloud computing

This is one of the main breakthroughs in modern times that make businesses run so smoothly and efficiently. With Quickbooks, you can access your account and manage your business anytime anywhere in the world. All you need is just a phone, tablet or computer and an internet connection

  1. Expense tracking

To assess your business performance, it is prudent to be aware of the expenses that you are incurring, and keep a proper record for tax purposes as well. With quickbooks, this I taken a notch higher by adding a mobile app. You can photograph and save receipts with the Quickbooks Online app.

  1. Invoicing
    All this being done online, you don’t have to wait to send invoices to your clients. Just create professional invoices, sales receipts and estimates that you can send within minutes.
  2. Accounting reports
    Periodic accounting reports enables assessment of business performance, to determine what changes need to be made to ensure efficient performance. With the customizable reports and dashboard, you can generate accounting reports within minutes, to assess your business performance.
  1. Cash flow management
    You can record bills from vendors and only pay them when they are due. In cases you have recurring payments like water and electricity bills, you can schedule these payments to save on time.
  1. Accountant access
    With the ability to let your accountant access your accounts from anywhere, he/she can work from anywhere, making sure that the records are maintained properly, and reports can be generated anytime.
  1. Automatic backups
    Have you ever lost data? The loss of such can be so significant, especially in case of big companies. But with quickbooks, this is taken care of by daily backups, thus ensuring your data is always up- to-date and available anytime.
  1. Data security
    One of the key challenges with online data management, is the issue of data security. Quickbooks has installed Bank level security (128-bit SSL encryption), thus ensuring your data is always safe.
  1. Free unlimited support
    Quickbooks offers free support, for any queries you may have or follow-up. The support is available from Monday to Friday (7.00 am to 12:00 am) (GMT+8).

It is also worth-noting that, there are also offline versions of quickbooks that are used for companies that just want to access data within an intranet. Check out the intranet versions of Quickbooks here.

For the internet access Quickbooks (Online Quickbooks), there are three plans available, namely

  1. SimpleStart
  2. Essentials
  3. Plus

The features and pricing of these plans are different.

See a comparison of pricing and features of these plans here.