Why online bookkeeping?

Online bookkeeping delivers bookkeeping software “as a service” over the Internet. There is no software to install and maintain. You simply access a website, login and start using the software.

When does it work best?

Do you want to access from any where? At any time? Do you have good Internet access? If so, then online bookkeeping is your best bet. Current Internet speeds can support rich and interactive content.  

As a result, many software vendors are also offering online versions of their popular desktop software. QuickBooks Online is the most popular online bookkeeping solution.   Other up and coming online solutions include Xero and Wave.

• From any where – Simply point your browser to a website to access the software.  You do not need any remote desktop tools to access the software.  
• Using any device – You can access the website using a smartphone or tablet. In fact, you now have apps for these devices.
• At any time – The software is hosted on the cloud and runs on highly available systems.  So, they are always available and rarely go down.  With desktop software, you are more than likely running it on a single computer.  If that computer goes down, your bookkeeping comes to a halt.
• No software to install – You are not hosting the bookkeeping software within your company.  It is hosted by the software vendor.  So, you are not responsible for the computers, space, power and cooling to run the software.  And the software is always available.
• No upfront costs – You do not have to pay an upfront cost for the online software.  However, you do have a monthly subscription.  The subscription fee covers all software maintenance and upgrades.  
• Multi-user Access – You get your own user ID and password to access the online bookkeeping website.  Other users from your company get their own user ID and password as well.  You no longer have to worry about multiple users fighting for the same computer resources.
• Easy to Outsource – If you want to outsource bookkeeping, all you have to do is invite the virtual bookkeeper to the QuickBooks online accounts.

• User Experience – What if you’ve only used Desktop software for years? You just know how to use it! The online version is similar. It is easy to use as well but it is not exactly the same.
• Limited Features – Desktop has just been around much longer.  As a result, it is rich in features. While the online versions are catching up fast, they are not quite there yet.
• Subscription Costs – With desktop, you pay an upfront cost to buy a computer and the software.  You can then run it for many years. On the other hand, with online software there is nothing to buy upfront. You only have a low monthly fee. However, it does cost more over the long run. And you pay more for extra users and features like payroll.
• Cost per Company – You pay the fee per company. So, what happens when you do bookkeeping for CPAs who have 100+ clients? Fees start to add up. With desktop, you can open as many files as you want using a single license.
• Security – QBO is secure but your data is online. So, it is vulnerable to a hack.
• Lock-in – What if you want to quit QBO? Did we say all your data is online? It is not only online but inside the vendor’s database. So, you are at their mercy to get your data back.
• Need Internet – You depend on the Internet. There is no way to access the software if the network is down.

Do we really care whether you use online or desktop?  Not at all!  We are well versed with both online bookkeeping and their desktop versions.  We usually go with what works best for our clients!