Advantages of Adopting QuickBooks Online for Startups

QuickBooks is one of the most traditional accounting software alternatives with more than 7 million clients around the world. There are 2 primary QuickBooks versions from Intuit i.e., QuickBooks Desktop and QuickBooks Online. The QBD is hosted locally and installed on a PC, and QBO is hosted in the cloud on reliable Intuit servers and available to use from any PC, tablet, or mobile phone with the internet. The QBO allows more third-party integration alternatives as compared to QBD, and it is the best for collaborating with an outsourced accounting solution and for working remotely. 

Here are the Advantages of QuickBooks Online for Startups:

QuickBooks Online allows budget-friendly pricing

Many startups have to operate within a fixed budget in the early stages of development, hence adopting an accounting system with affordable monthly prices is a must. QuickBooks Cloud Hosting is a low-cost and budget-friendly alternative in the market, offering pricing plans at cheaper prices with useful accounting functions. As your firm develops and your users increase, you can simply switch to a plan with added features without any data loss. Unlike other accounting software, QuickBooks allows you to switch your plans according to your needs, so you are free to change or cancel your subscription as you want without any additional charges. 

QuickBooks Online comes with a broad variety of functions

Apart from offering affordable plans, QuickBooks also adds good value to startups. QuickBooks’ accounting functions consist of all the basic functions needed by startups, these include revenue and expenditure tracking and crucial reporting, monthly financial reporting (profit and loss statement, statement of cash flow, or balance sheets). For growing businesses that have more advanced finance needs, you can instantly get additional features and abilities by upgrading to the QuickBooks Online Pro software. You can also use an Azure Virtual Desktop as a Service to host QuickBooks.

Also see: 7 Essential Tools for every new business

QuickBooks Online integrates with additional commercial tools

Most startups work on plenty of commercial tools to operate several elements of their accounting operations like payroll software, credit card accounts, bank accounts, and invoicing and bill payment tools. Especially when your business expands, you may require advanced finance tools that have the ability to manage a higher level of tasks for specific functions. Many accounting software alternatives only integrate with a few other programs and restrict the other accounting tools from which you have to select. QuickBooks Online integrates with more than 650 different tools such as Expensify, PayPal, Justworks, Gusto, etc., and syncs your entire data automatically, so you can know the complete condition of your startup’s financial health and you can plan strategies for your business accordingly. 

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