+65 83551210 
In this guide, you’ll learn everything there is to know about QuickBooks Online from A to Z. So if you want to know if QuickBooks Online is right for your accounting work or your business, you will get a lot of value from this thorough guide.
Let’s start with understanding what is exactly QuickBooks Online.
1. What is QuickBooks Online? What does QuickBooks Online do?
QuickBooks Online is a cloud-based accounting software created by Intuit. It provides a comprehensive suite of financial management tools, enabling users to manage income, expenses, and payroll with ease.
QuickBooks Online streamlines bookkeeping tasks by automating invoicing, tracking sales and expenses, and generating detailed financial reports.
Additionally, it offers features for bank reconciliation, inventory management, and tax preparation, making it a versatile solution for maintaining accurate financial records and ensuring compliance with accounting standards.
Its cloud functionality allows for real-time collaboration, ensuring that business owners and accountants can access up-to-date financial information from anywhere, at any time.
For these benefits, QuickBooks Online is really popular among small to medium-sized business owners (SMEs) (QuickBooks Online - A great accounting solution for SMEs ), freelancers, and international businesses due to how versatile you can be with this 100% online accounting software.
2. What are the key features and benefits of QuickBooks Online?
QuickBooks Online is packed with features that make managing your business's finances easier.
To learn more about QuickBooks Online features and best functions, you can read this article here: QuickBooks Online: Top 4 features and 6 best functions for maximum benefits.
In this article, we cover some of the best features of QuickBooks Online you should know first
One of the greatest features of QuickBooks Online lies in its accounting ability. You do not need to have an accounting background to use this software.
For example, you don’t need to know about double entry, credit, and debit to enter your book. QuickBooks Online is designed so that even the amateur business owner can use it to handle their finances.
One of the best features is the ability to connect your bank accounts directly to the software. This means that your transactions are automatically updated in QuickBooks, saving you time and reducing the chance of mistakes. You can also create and send professional invoices, set up automatic billing for regular customers, and accept online payments, which helps you get paid faster.
Another great feature is the ability to generate detailed financial reports. You can quickly see how your business is doing with profit and loss statements, balance sheets, and cash flow reports, which you can customize to your liking.
QuickBooks Online also helps you keep track of your inventory, so you know when to reorder items before you run out. By simply setting an alert, you always know when to replenish goods without manually checking every day.
Plus, it simplifies payroll management, making it easy to calculate wages, handle taxes, and pay your employees on time.
What is more, with a little bit of investment, you can reduce the burden of payroll taxes by letting the software handle the entire process. It calculates, files, and even pays your taxes.
The multi-currency feature in QuickBooks Online makes it easy to handle international business. This feature lets you manage transactions in various currencies if you work with customers and suppliers from different countries.
You can send invoices in your customer's currency and pay bills in your supplier's currency, which helps make international transactions smoother and more straightforward.
Essentially, QuickBooks Online has every feature to make your finance management easier.
What is best about this application is constant adaptability: You get new practical features, and functions every year, which makes it difficult for QuickBooks users to even switch to other accounting systems.
3. Comparison between QuickBooks Online and other accounting software?
3.1. What is the difference between QuickBooks Online and QuickBooks Desktop?
For more information on whether QuickBooks Online or QuickBooks Desktop is the right choice for you, please take a look at our detailed article: QuickBooks Online vs QuickBooks Desktop: A detailed comparison.
Here is a core comparison between these two versions of QuickBooks.
| Feature |
QuickBooks Online (QBO) |
QuickBooks Desktop (QBD) |
| Availability | Available internationally in many languages. | Available primarily in the US and Canada. Available in English. |
| Accessibility |
Cloud-based, accessible from any device with an internet connection. |
Installed on a local computer, accessible only from that device or network. |
| Updates | Automatic updates and new features are regularly added. | Requires manual updates, typically needs an update every year. |
| Collaboration | Supports multi-user access with real-time collaboration. | Supports multi-user access, but only within the same network. |
| Accounting Features | Comprehensive accounting software for small to midsize businesses. Includes a full range of accounting tools. | Comprehensive accounting software with a full range of accounting tools, more feature-rich for complex accounting needs and some industries such as constructing, wholesale. |
| Business Finance Features | Extensive tools including banking, lending, inventory, payroll, quotes, invoicing, payments, and project tracking. | Extensive tools including banking, lending, inventory, payroll, quotes, invoicing, payments, and project tracking, often with more advanced features. |
| Support and Customization | Offers extensive customer support and a wide range of integrations and add-ons. | Highly customizable with extensive industry-specific versions and more advanced features. |
To conclude, QuickBooks Online (QBO) is ideal for businesses needing flexibility and accessibility, offering a cloud-based solution that supports real-time collaboration and automatic updates. It is available internationally in many languages.
QuickBooks Desktop (QBD), on the other hand, provides a powerful, feature-rich solution often favored for its advanced accounting capabilities and extensive customization options, perfect for a niche or mega business .
3.2. What is the difference between QuickBooks Online and Quicken?
| Feature |
QuickBooks Online (QBO) |
Quicken |
| Availability | Available internationally in many languages. | Only available in the US, Canada, and the UK. Only in English. |
| Accounting Features |
Comprehensive accounting software designed for small to midsize businesses. |
Tracks income and expenses, but not complete accounting software. Suitable for personal use or very small businesses. |
| Updates | Extensive financial tools including banking, lending, inventory, payroll, quotes, invoicing, payments, and project tracking. | Requires manual updates, and typically needs an update every year. |
| Collaboration | Supports multi-user access with real-time collaboration. | Basic financial tracking. Limited to invoicing and expense tracking. |
In conclusion, Quicken is a good option for basic financial management, but it may not be sufficient for growing businesses due to its limited features.
QuickBooks Online, however, offers a more robust set of accounting and business finance tools that cater to the needs of small to midsize businesses, and it is available internationally in many languages.
3.3. What is the difference between QuickBooks and other cloud accounting solutions?
| Feature |
QuickBooks Online (QBO) |
Xero | FreshBooks | Sage |
| Availability | Available internationally in many languages. | |||
| Accessibility | Cloud-based, accessible from any device (Desktop, mobile device) with an internet connection. Automatic updates and new features are regularly added. | |||
| Accounting Features | Comprehensive accounting software, not least for small to midsize businesses. Includes a full range of accounting tools. |
Comprehensive accounting software with a strong focus on automation and ease of use. | Primarily focused on invoicing and expense tracking, with basic accounting features. | Comprehensive accounting software with advanced features, suitable for various business sizes. |
| Business Finance Features | Extensive tools including banking, lending, inventory, payroll, quotes, invoicing, payments, and project tracking. | Focused on invoicing, time tracking, expense tracking, and payments | Same as QuickBooks and Xero | |
| Support and Customization | Offers extensive customer support and a wide range of integrations and add-ons. | Known for excellent customer support and user-friendly interface, | Highly customizable with extensive industry-specific versions | |
Now we know the strengths and weaknesses of QuickBooks Online compared to other software, it is time we get to know which subscription plan and QuickBooks version is right for you.
4. Which QuickBooks version is right for you?
QuickBooks offers several versions tailored to different operating systems, user preferences, and countries. Here is a summary of all QuickBooks versions on the market.
QuickBooks Online provides the flexibility of accessing your accounting software from any internet browser or mobile device. One standout feature is the QuickBooks Multicurrency feature, which is particularly useful for businesses operating internationally.
Multicurrency functionality is included in the Essentials, Plus, and Advanced subscription plans.
One thing to note is that each country has its own version of QuickBooks Online with its unique features and interface. For example, the QBO England version is much different from the QBO Singapore version.
The most popular choice for international businesses and freelancers would be the QBO International version, available in many countries across Europe, Asia, and Australia.
The international versions are typically available in local languages and include region-specific features such as tax compliance tools.
Before making a decision, you should check your operating system, device, business requirements, and the country you currently work in to see if there is the right QBO version to use.
QuickBooks Desktop is compatible with Windows and offers a robust set of features.
For example, with QuickBooks Enterprise
Users can select from three different packages (Gold, Platinum, Diamond or custom plan) with the largest package offering additional features such as enhanced user permissions and automatic encrypted backups.
QuickBooks for Mac is specifically designed for users of Apple's macOS operating system.
While similar to the Desktop and Online versions, it's optimized for Mac platforms, offering a user-friendly experience. Now, you can get access to the 2024 version on the Intuit website.
5. How much does QuickBooks Online cost?
5.1. QBO pricing plan
Based on the country you work in, QuickBooks Online offers various subscription plans to meet the needs of different types of businesses.
For the most part, the pricing plan is similar across all countries, with some such as the U.K, the U.S, Canada, etc, having other pricing plans for specific customer groups like the Self-employed plans.
Here are the pricing details and availability for each version. The fee here is for the international version paid annually.
QuickBooks Online annual subscription
Simple Start: $97.20 per year
- Features: Basic income and expense tracking, invoicing, tax deductions, and general reports.
- Availability: Available internationally.
Essentials: $145.80 per year
- Features: All Simple Start features plus bill management, time tracking, and support for up to 3 users.
- Availability: Available internationally.
Plus: $205.20 per year
- Features: All Essentials features plus inventory tracking, project profitability tracking, and support for up to 5 users.
- Availability: Available internationally.
Advanced: $820 per year
- Features: All Plus features plus advanced reporting, dedicated account support, batch invoices and expenses, and support for up to 25 users.
- Availability: Available primarily in the US and select other countries.
6. Free trials and promotions
If you are not sure whether or not QuickBooks Online is the right choice for you, you can use the free trials to evaluate the software before committing to a subscription/
- 30-day Free Trial: QuickBooks Online offers a 30-day free trial for new users on most of its plans. Note that if you use more than 30 days, you must present a valid credit card for authorization and you'll be charged accordingly.
Once you decide to use QBO, the best next step should be to use the Intuit promotional discount or via a QuickBooks Proadvisor, the monthly or annual subscription is much lower.
Some typical discounted rates include 50% Off for the First 3 Months, 90% off for 6 months, and seasonal promotions such as tax season or Black Friday.
7. How can we help you with your QuickBooks matter?
By now, you have all the key knowledge about QuickBooks Online, its, benefits, pricing plan, and the difference with other accounting solutions on the market. With this knowledge, you can confidently know which version is the right for you needs and your business.
To know more in-depth about QBO and learn how to master it, you can search for an experienced Proadvisor like Global Link Asia Consulting or start by learning the basics. Intui offers a wealth of learning resources for beginners.
As the Official Proadvisor for QuickBooks in the Asia-Pacific region, we offer comprehensive service guarantees to satisfy every one of your accounting needs:
- QuickBooks License for all versions;
- Training and Support: Benefit from our consulting and training support in using QuickBooks Online accounting software.
- QuickBooks Online training guide for Singapore companies
- QuickBooks Online training guide for offshore companies in BVI, Belize, Seychelles, and more
- QuickBooks Online training guide for Hong Kong (China) companies,
- QuickBooks Online training guide for US companies.
- Online course to master QuickBooks Online
- QuickBooks installation and configuration to your needs.
For more detailed support on how to use QuickBooks Online accounting software for businesses, please contact:
Ms. Kaylin:
Email:
Phone (Viber/Skype/WhatsApp/Telegram): (+84) 0938 297 637
Meet Ms. Kaylin, your trusted QuickBooks advisor, and experience how her expertise helps you master QuickBooks Online without the need to learn too much.
8. FAQs about QuickBooks Online you may not know
QuickBooks ProAdvisor ( ) are accounting professionals and consultants who are proficient in using QuickBooks products. ProAdvisors receive training and certification in various QuickBooks products, including QuickBooks Online, Desktop, and Enterprise,
They have the knowledge and skills to support and advise QuickBooks users and companies
To learn more about QuickBooks Proadvisor, what they can do, how to become and how to find a reliable Proadvisor, read this in-depth article here: QuickBooks ProAdvisor: A complete guide.
You can learn more about QBO in several ways such as
- Official QuickBooks resources: QuickBooks Online Tutorials and Webinars on Youtube, Help Center, Community
- QuickBooks training programs both official and third-party like Global Link Asia Consulting QBO online course
- QuickBooks Online courses on Linkedin Learning, Udemy, Coursera.
- Books and eBooks such as QuickBooks Online for Dummies" by David H. Ringstrom.
- One-on-one training from QuickBooks Proadvisor.
QuickBooks Online can accommodate a growing business to a certain extent.
Here are 2 factors you should consider before using QuickBooks Online.
- User limitations: QuickBooks Online plans have limitations on the number of users who can access the system simultaneously. A larger business might need software that accommodates a higher user count.
- Customization needs: If your business has unique accounting workflows or needs extensive data customization, complex inventory management, advanced project costing, or integration with robust CRM or ERP systems, QuickBooks Online's limited customization options might be a drawback.
470 North Bridge Road, #05-12, Bugis Cube, Singapore (188735).
Unit 2302, 23/F, New World Tower 1, 18 Queen's Road Central, Hong Kong.
12th, Felix Alley Building, 151/1-2 Nguyen Van Troi, Phu Nhuan District, Ho Chi Minh City, Vietnam.
