Online accounting review: QuickBooks Online
QuickBooks Online is an established leader in online accounting in the USA, so it was only a matter of time before Intuit brought it to the UK. At long last, Nigel Harris got his hands on it and produced this overview.
With a 10-year track record in north America, QuickBooks Online is tried and tested technology and seems to cover most small business requirements. It comes in three versions:
- QuickBooks Online Simple Start, for one user at £9 + VAT per month – there’s no VAT or suppliers ledger with this version and only basic reporting
- QuickBooks Online Essential, for up to three users at £19 + VAT per month – all accounting functions, multi-currency and some 40 reports including a graphical Snapshot dashboard view
- QuickBooks Online Plus, for up to five users at £29 + VAT per month - adds budgets, recharge of expenses to customers and location tracking, and more reports (“over 65”)
The business can also set up its accountant as an additional user in addition to the maximum number allowed with each version, and can also create unlimited “read only” users. There doesn’t appear to be a special accountant’s edition though, so accountants will need to maintain a list of separate logins and user names for each client using QuickBooks online.
Despite the superficial similarities with QuickBooks desktop software, especially the presentation of reports and transaction “registers”, there is no facility yet to exchange data between the desktop and online versions of QuickBooks. Data import is limited to customer data as a .CSV file from Excel, Outlook and other email applications.