For example, Xero and FreshBooks are cloud-based platforms with extensive features for small and medium-sized businesses, while Quicken is a desktop option for self-employed individuals. Subscription clients in QuickBooks Desktop 2023 (R1) or older versions will need to update to the latest 2023 (R3) version before their subscription expires. Every business is unique, and there may be instances where QuickBooks Desktop may be a better fit. For example, it may be more suitable for businesses with complex inventory management needs or those wanting offline access to their financial data.
Granted, most people agree QuickBooks Online is the better option, but the old-timer is still somehow in the running. You may consider switching to QuickBooks Online if you want a cloud-based solution with several affordable plans and an easy-to-use interface. Yes, QuickBooks Desktop has a subscription fee that users pay annually.
Here’s a breakdown of how each program’s specific features compare. It’s hard to say which software is cheaper because there proposed changes to the fair labor standards act are so many variables. But there are some general guidelines to know which version might be the one for your business (and your budget).
If you go with QuickBooks Desktop Pro or Premier, a payroll add-on is available for an additional monthly fee. While these products will still be available to existing users, QuickBooks Desktop Payroll for Pro and Premier will no longer be available for new users to purchase starting on September 31, 2024. QuickBooks Desktop is also not a great choice for accounting newbies, as the UI is quite unintuitive and has a steep learning curve. And while Desktop has a respectable number of integrations when compared to other accounting software, it falls far short of what QBO offers its users. What stands out most about QuickBooks Online when compared to Desktop is that QBO is cloud-based accounting software.
The software must have features that allow users to set sales tax rates, apply them to invoices, and enable users to pay sales tax liability. Meanwhile, QuickBooks Online provides some customization options for businesses, but they’re not as extensive as those in Enterprise. For instance, you can set up QuickBooks Online for nonprofits by adjusting the settings, customizing sales forms, and creating a chart of accounts based on Form 990. Terms, conditions, pricing, special features, and service and support options subject to change without notice.
Businesses that have purchased one-time licenses of the locally-installed QuickBooks Desktop versions that have been sunset can still use the software’s accounting features. However, these versions don’t receive security updates, live support, or access to cloud-based services such as live bank feeds, QuickBooks Desktop Payments, or QuickBooks Desktop Payroll. QuickBooks Desktop doesn’t offer the same multi-user accessibility, but it does have a more comprehensive assortment of features that provide an in-depth view of your accounting operations. QuickBooks Desktop offers more advanced inventory management features, job costing worksheets, sales orders, and highly customizable reports. I was impressed with how you could do batch invoicing, something QuickBooks Online doesn’t offer.
All feedback, positive or negative, helps us to improve the way we help small businesses. Discover BusinessLoans.com’s lender network offering up to $3M in funding, no minimum credit score required. Both QuickBooks Online and QuickBooks Pro and Premier have notoriously poor customer support (QuickBooks Enterprise support has better priority support). The online version of QuickBooks is much easier to use than the desktop version.
