Overview

Quickbooks Online is a cloud-based platform where the Quickbooks accounting software is running on a cloud server. As QuickBooks Online access over the Internet, you can work on your accounting from anywhere and on any device that connected to the Internet.

QuickBooks Desktop is an accounting software that can be installed and run on your local computer. This edition is intended for companies that require comprehensive stock control, job costing, and industry-specific functionality and reporting.

Accounting Software

Both Quickbooks software are support accounting, billing and stock control. It allows you to generate invoices, monitor your cash flow, manage payments, and much more.

QuickBooks Online and QuickBooks Desktop offer a wide variety of features. While they share many of the same features, the features of QuickBooks Desktop are often more developed, except when it comes to billing. Although Quickbooks Desktop has more comprehensive features in general, there are some key features that only QuickBooks Online has, including lending, international invoicing and mobile apps. Therefore, it just depends on which features the company wants the most.

Network User

The Quickbooks Online Simple Start entry version allows 1 user. The more advanced versions, Quickbooks Online Essential and Plus support 3 and 5 users respectively. All versions also allow 1 extra accountant user to access the accounting system for seamless collaboration.

You can set up different users in Quickbooks Desktop to access a company file. However, if you have 1 network user license, accessing and making changes to the file can only be done one at a time. For Quickbooks Desktop Pro, start with 1 network user and can add up to 3 network users. While Quickbooks Desktop Premier starts with 2 network users and can add up to 4 network users, with a total maximum of 6 network users.

Bank Reconciliation

Quickbooks does the import of bank statement in Excel data quite well, as long as the information is aligned according to the template. One should be able to import information easily into Quickbooks bank conciliation.

Mobile App

Quickbooks Online has dedicated mobile apps for your phones. You can make quotes, invoices, scan receipts (especially useful for claims). Very good usability with a pleasant layout.

There is no mobile app available for QuickBooks Desktop. The only way to remotely access QuickBooks Desktop via mobile is to use Remote Cloud Services.

Number Of Companies

Quickbooks Online allows only one Company per subscription. For a second (or additional) company, you will need to register for a new Quickbooks Online account. This means that each company you create will have its own subscription. But if you already have an existing account, you can use the same login credential when signing up and switching between companies.

In Quickbook Desktop you can create unlimited company account book.

Add-on Plugin

Both QuickBooks Online and QuickBooks Desktop offer a number of useful plugins and add-on products. However, QuickBooks Online offers over 500 QuickBooks Pro integrations of over 200.

QuickBooks Online plugins cover more business needs and include multiple payment gateway options, while QuickBooks Desktop offers hardly any payment gateways, making it difficult for the modern merchant to easily accept online invoice payments.

Multiple Currency

Multiple currency is available in Quickbooks Desktop and the advanced version of QuickBooks Online. This feature tracks your foreign currency transactions, including any foreign exchange gains or losses that you may incur.

Pricing Structure

QuickBooks Online is a cloud-based software with monthly pricing and QuickBooks Desktop is locally-installed with a license pricing model.

QuickBooks Online is currently offering significant discounts to attract new customers. There are three discounted pricing plans available ranging from RM28 to RM51 monthly.

The prices for QuickBooks Desktop differ depending on the edition of the software you choose.

• Quickbooks Desktop 2020 Pro: RM2,200.00
• Quickbooks Desktop 2020 Premier: RM4,000.00
• Quickbooks Desktop 2020 Enterprise: RM12,600.00

Conclusion

Both QuickBooks Online and QuickBooks Desktop are worthy software with strong accounting capabilities. Each of its edition has its pros and cons.

QuickBooks Online offers users most of the same great features while enjoying the mobility of cloud-based apps. QuickBooks Online is easier to use and has more automation, more integration, better billing, and a unique built-in lending feature. The downside is the lack of sales orders, lead management, and other complexities that Quickbooks Desktop users may miss such as customizable letter templates, built-in calendars, and even spell-checks.

QuickBooks Desktops provides extensive features such as lead management, sales orders, industry-specific versions of software, and has the potential to be more secure. The downside is that QuickBooks Desktop lacks Quickbooks Online’s mobility, less automation, does not provide credit or payment gateway plugins and has a challenge in learning to use the software.