QuickBooks, developed by Intuit, has been the leading accounting software ever since its release in the year 2000. Since its stable release, it has been available in two accessible versions. One of them is cloud-based, and the other, the online version (QBO). People often have mistaken online and cloud-based versions to be the same thing but the difference is stark. Yes, both the versions need internet access to avail the full functionality of the software, however, the feature provision of the two makes them poles apart.
QuickBooks Online is created and channelized via Intuit itself, which runs inside the web browser. Comparatively, QuickBooks software is cloud-hosted via third party cloud hosting companies, which are accessible through an application-based platform.
So, here the question arises - which one of them should be preferred? Well, there are a lot of drawbacks to QuickBooks Online, which is a deficient competitor to QuickBooks Hosting. As proof of this statement, let us look at some of the drawbacks of QuickBooks Online.
Drawbacks of QuickBooks Online
While the desktop version of QuickBooks has all the functionalities of the software, QuickBooks Online lags behind with countless limitations. The core reason stands with the built which works on different databases.
1. It lacks full-fledged accuracy and issues do come up when the import and export of data take place from the desktop version of the software.
2. Without the internet, there is no way to access the program as it is completely web-based. So, no internet means a pause in the workflow.
3. A significant amount of manual input is required when you have to make changes from the desktop version to the online version and vice-versa.
4. The maximum number of users allowed usage at a time is 5.
5. Limited tech support is available.
When you look at these drawbacks and compare the online version with the hosting platform, you can see the disadvantages in bright light. But, there are no such limitations or issues in the cloud-based version of QuickBooks. Now let us take another look at the benefits of QB hosting.
Perks of QuickBooks Hosting
Cloud-Based QuickBooks is the desktop version of the software. It is primarily hosted on the cloud so that users can access and use its features. While you can avail all the elements with cloud hosting, here is a list of pros to give you a clear idea of it.
1. The QuickBooks desktop version is accessible online through an application. So, there are no worrisome factors to come across while switching between the desktop and the cloud-version.
2. Instead of just 5 users using the facility at a time, the cloud version offers 30 users simultaneously working benefit.
3. Attributes like inventory tracking, creating purchase orders, multiple pricing to items, and online bill payment is available with QuickBooks on the cloud. This availability is absent for QuickBooks Online.
4. Supported versions are QuickBooks Pro, Premier, and Enterprise.
5. 24 x 7 tech support is available.
There is no direct competition between the two as the cloud-based version has everything that a business/ company needs. QuickBooks Online lags in most of the important features that are available in QuickBooks Hosting.
With the cloud platform, everything remains similar to the desktop version. It also offers the facility of being accessible, overlooking both geographical and time boundaries, alongside the power of data security and scalability. There aren't many renowned leading companies strewn across the internet that host the QuickBooks software on the cloud. So, it is advisable to opt for the best cloud service provider to attain the best results.