Accounting Program

22 Replies

IMO, NEVER put your accounting on the internet!  Secondly the Cloud based systems are subscription fee based and you pay over & over again.  I'm still using my Quickbooks Pro 2009 and live is good.

I would suggest avoiding cloud stuff, it seems to come, go and change all the time - and having your accounting data locally on your computer is a lot safer for the long run.

@Karen Margrave Qbooks local but you may want a"multi user version". Talk w your cpa he/she will be able to "remote access" your Qbooks for entries etc with correct version. It's expensive software so you will want to get it right. 

I have QB Pro 2015, I just use "class" feature to separate project profitability. My uncle has the contractor's version, good for GC, more reports and all, but it was too much for my small business, he never uses the full features anyway, also sometimes those are too heavy to load. I used to be a Mind Your Own Business (MYOB) fan for our fammily owned business outside US, but found QB is more US Accountant friendly. QB accountant version is free or so I've heard, so my accountant can view any version of qb.

I'm also a long time QB user. So long in fact that I was one of the original Beta Testers when it was first being developed by Intuit. I used the Contractor version until I updated to Accountant 2014. I think the biggest differences in the versions, as mentioned, are in the chart of accounts, the reports, and how inventory is handled. The core accounting engine is the same, it's just a matter of what is best for your business profile, and how granular you want your project tracking to be. I'd also suggest taking a short, sanctioned course or two. They're usually around $400 and are helpful in starting out on the right track as you're setting things up. 

@Karen Margrave

I'll throw another option out there - though in the U.S.A. QuickBooks seems to be a good value for the capability set.  When we looked at QB, it's international support was a little weak and that was a criteria for us.

Being a UNIX and Mac shop, both of my companies (Software and Real Estate) are using Cognito's MoneyWorks Gold and we've been happy with it thus far (4-years).

Originally posted by @Wayne V. :

I'm also a long time QB user. So long in fact that I was one of the original Beta Testers when it was first being developed by Intuit. 

Wow! I thought I had geek cred with QB, but you've got me beat. I started using QuickBooks back when it was still DOS based...

We went with the cloud version of Quickbooks so that our bookkeeper and accountant can remotely access and edit it.

@Karen Margrave

With cloud base services you are entrusting the care and security of your information to someone else.

Another factor to consider is where the data is stored ... and the privacy legislation of that jurisdiction.   As an example for those of us external to the U.S.A., having our data stored at a data centre in the U.S.A. subjects it to the Patriot Act and (typically) privacy laws that are weaker than our countries of origin.

@Karen Margrave The online version is really limited, good for small business that just wants to do entry. Class tracking/profit per project tracking is only available for the plus version, 40/month which translates to 480/year, well over the contractors robust desktop version. I do have a separate G drive where I save portable files of my desktop version then my bookkeeper saves it there, then she copies it twice a month on a separate folder that is shared with my accountant and me and my bookkeeper. I do limit my data exposed online, no real irs numbers, last 4 digit bank accounts only, no copies of bank statements, etc. i do upload my invoices/receipts though.

@Karen Margrave

I've recently started using QB 2015 (MAC).    Previously was using Quicken, both personal & business combined (bad idea!) and then using the @bturner method of inputting into Excel.    It does work but requires a lot of time.   QB is certainly more business professional, no doubt will make my accountant happier, and provides really available financial reporting whenever needed.    In my prior life we often said "if you can't quantify and measure it", then how will you know if you are failing or succeeding? 

There are two ways you can use QuickBooks in the Cloud:

1. using QuickBooks Online

2. Hosting your QuickBooks Desktop in the cloud - @Lynn Currie Kudos to your decision and our clients too!

Which one is everyone referring to.