Ever since I started my business in 2002 the accounting has been my weak spot. I used different products to get the job done and for the last 3 years Microsoft’s Excel was my accounting system. It was easy and worked Ok once the spreadsheet was setup properly. But still – I was bad at updating the spreadsheet with new data and did it maybe every 3-4 months. I did hate myself for this. I had all numbers in my head and kept track of cash flow and profit or loss that way, but nothing really replaces a good accounting system.
When I did my taxes for 2009 just a few weeks ago I was swearing and cussing about myself, because transferring the spreadsheet data into the tax forms (again, same deal last year) just sucks and I wasted hours doing this.
There had to be a better solution and so I looked around and then settled for QuickBooks Online Pro. Yes, the online version of QuickBooks. I had bought QuickBooks in 2002, but found it too complicated. I had used Quicken Small Business Edition, but again it is easy to forget and I also found it a little complicated to customize it for my business. So, being upset I decided to give it a try and I compared the charts between online and offline QuickBooks and the different versions of “QuickBooks Online” and then settled for “QuickBooks Online Pro” for several reasons.
1) I like browser based access to software tools. No software to install or to maintain on my computer + I can work from any computer I want as long as I have Internet. I can sit with my Netbook Computer (ASUS) on the couch watching TV and look at my business numbers as an example. I can travel and sit in a hotel on the other side of the country and log into my QuickBooks Online.
2) The monthly fees are reasonable even though they are a little more over 12 months compared to buying and installing software. However, the monthly charge on my credit card is also motivation for me to use the product. The motivational factor easily makes up for the extra cost (for me – your mileage might vary).
3) I do not have to worry about losing data due to a hard drive crash or my house burning down or even worse – somebody stealing my computer. Of course storing my data online with Intuit requires other steps in regards to security, but a) I trust that company as this product is their bread and butter and they will do anything to keep it that way and b) I can (and will) download the data to an encrypted hard drive locally and rotate it out with its sister hard drive that is stored in a bank safety deposit box.
4) Earlier I mentioned that I had problems many years ago setting up QuickBooks. Since QuickBooks Online comes with a free trial I decided to sign up and to check it out. You can’t do that with the desktop software, but you can online. I have to say, I found QB Online very intuitive and easy to use. The help documents are good, too. I had to use them exactly twice and within 1 minute in each situation I had found my solution (Example: Since I do not actively get a salary, but still take money out of my business (don’t ask – my tax situation is properly taken care of) I did not know how this was done or called inside QuickBooks. Owner drawings or owner draw was the solution and after finding the solution it took me 2 minutes to implement it). So, without needing any training I was able to get everything properly setup. The detailed starter interview also definitely helped. So, the ease of use really impressed me.
5) Online banking is a nice feature and QB Online hooks right into it and helps me to get transaction into the system. And the system is self-learning and so updating my accounts and registers was a breeze.
6) I love the company reports. I had numbers in my head before, but once you see the reports in QuickBooks Online you might have the same eye-opening experience as I did.
7) Free Trial + Money Back Guarantee. I had so much more interest to try QuickBooks Online Pro knowing that a) I would not get charged for 30 days and b) they offer a money back guarantee, too.
So, I was not ready for QuickBooks in 2002, but I am now, QuickBooks definitely has evolved and makes it much easier for non-accountants to do the bookkeeping without the need for a degree or training. I am sure there are still many things I have not discovered yet or are only scratching the surface, but at least for now I am good using the system and to have my bookkeeping needs taken care of. I decided to stick to the online Pro version even though it is a tiny bit more expensive, but I think the benefits overweigh for me. I can also export my data and move to the desktop version of QuickBooks if I wanted to. The list of features is very long and I only described some of the main features or reasons above. Go here to see all the features and to compare the online versions of QuickBooks.
So, to answer the question from the subject line of this posting: My Business Accounting Sucked until I discovered and tried QuickBooks Online Pro. Check it out here. Use the free trial …
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