Updated: Apr 29, 2020
#Quickbooks is the accounting solution of choice for most small businesses. But many who are just starting out may wonder, which Quickbooks version do I need? If you are asking this question, you may need to ask yourself some questions. First of all, you need to decide if you need the online version or the desktop version.
The first question you must ask is how many users will be engaged in your #accounting process. The basic desktop version can accommodate up to three users while the online version is more flexible and can even allow access by outside accountants. While you pay one fee to acquire the desktop version and the online version involves an ongoing monthly fee, you may find that, for your organization, the online version has some advantages. If you want to download your transactions directly from the bank rather than spending time manually entering transactions, the online version allows this automatically. If you have the desktop version, you can still accomplish this but you will pay a monthly fee for this. Phone support is included with the online version but there is a fee for phone support with the desktop version. Finally, you should consider whether or not you need access to the latest updates. This is included with the online version but requires an upgrade fee with the desktop version.
Basically, you must engage in some thoughtful consideration before making this accounting decision. If you need help deciding, a #CPA or an accountant could be consulted to make sure you are making the proper decision for your organization. Making the wrong decision could be costly. This is a very personal decision for your organization and should not be made lightly.
Written by Lakeesha V. Browne, CPA of L.V. Browne, CPA, a full service accounting firm specializing in systems implementation, consulting and controllership services. Lakeesha is a QuickBooks ProAdvisor. You may contact her at email@example.com or 972.729.9906.