Hi, I’m Alicia Katz Pollock from Questiva Consultants, the author of the most comprehensive set of QuickBooks training textbooks on the market. Check them out at www.questivaconsultants.com.
Today I’m speaking to the bookkeeping trainers out there, the college instructors and education program leaders who have been teaching QuickBooks Desktop (QBDT) for years, and are faced with converting their curricula to QuickBooks Online (QBO).
Now that Intuit is committed to moving the accounting industry forward into cloud-based bookkeeping software solutions, it’s also important that we, who are part of the academic community, stay up on current trends.
In the last few years, Intuit has been pouring all their resources into developing QBO, their internet-based version, while the PC-based software has remained largely unchanged for over a decade.
This opportunity to update your curriculum to include industry innovations should be welcomed by all instructors. We owe it to our students to train them to do bookkeeping and accounting using the most current software so they will succeed in the modern workplace.
Since you’ve been teaching QuickBooks Desktop, the transition to QuickBooks Online will be a significant change, but a rewarding one. Here at Questiva Consultants, we are committed to helping you through this transition as you update your curriculum.
Let’s start by exploring the differences between QBDT and QBO. We are sure you’ll like what you see!
QuickBooks Desktop (QBDT)
QBDT is software that is purchased, downloaded, and installed on a single Windows computer. Each company has an individual file saved locally on that computer. If you need more than one company, you create more than one file.
If simultaneous users need to share the data, each person needs their own paid copy of the identical version. Supporting multiple users requires a company server. Users who are not onsite require a VPN or a hosting service.
When an accountant needs to access the data for taxes, you must create a separate accountants’ copy and then reimport their changes.
In order to take advantage of new features, you need to upgrade to the latest version of the software every one to three years.
QuickBooks Online (QBO)
QBO is subscription-based, paid monthly or annually. It is accessed on the internet through a web browser, preferably Chrome. It doesn’t matter if you’re on a Mac or a PC – the experience is the same.
If you need multiple companies, you subscribe to each one individually and can switch between them easily. Simultaneous users can simply log in as needed, any time, from anywhere.
Even the accountant can log at will to import the data into their tax software.
New features and enhancements are introduced on a regular basis based on user feedback.
Innovative and Transformative
To me, QBO and QBDT are like Ginger Rogers and Fred Astaire. Ginger did all the dance moves that Fred did, but backwards and in high heels.
QuickBooks Online and QuickBooks Desktop both perform all the bookkeeping and accounting procedures needed by businesses for taxes and operations. They both produce Profit & Loss statements, Balance Sheets, and dozens of financial reports.
Where they differ is the freedom accorded by being web-based software. QBO integrates natively with banks at no additional cost to import daily activity, reducing data entry. It synchronizes information from other business systems, eliminating redundancy. The automations take care of routine business tasks, freeing up staff to get more work done and serve more customers so that companies make more money.
Innovative features like Receipt Capture, Mileage, the Projects Center, built-in Merchant Services, and online Bill Pay all natively address the needs of company record-keeping.
There is even a mobile app to access the data, create invoices, and take payments on the go, perfect for everyone from soccer moms with a side hustle to field service technicians.
Because of the ease of use, Intuit has experienced record numbers of small businesses converting from QuickBooks Desktop to QuickBooks Online, at a rate of approximately a million companies a year since 2015.
Bookkeeping firms are also converting to QBO-only, enticed by the easy access, speed, artificial intelligence, and features that solve real-world problems.
The more you learn about QuickBooks Online, the more you’ll like what you see. Once you get used to the new location of your familiar tools, we promise you’ll experience delight at every turn.
Order our new QuickBooks Online Fundamentals and QuickBooks Online Complete textbooks at www.questivaconsultants.com, and we’ll help you get started updating and modernizing your classroom curriculum.