Hall Kistler & Company: Walking Through the Cloud: Insights about QuickBooks Online

Walking Through the Cloud: Insights from Hall Kistler & Company about QuickBooks Online

By Sarah Yost, Senior Accountant and QuickBooks Online ProAdvisor

As all of us at Hall, Kistler & Company are aware and as all of you reading this know, the now infamous “cloud” has grown in popularity in recent years and has hit the accounting world. QuickBooks Online has been around for some time, but finally has become more user-friendly and streamlined within the past few years. Below are some pros and cons of QuickBooks Online.

Here are a few of the benefits of converting your file to QuickBooks Online:

  1.  It is online – Being up in the cloud means it is backed up automatically and the software is updated automatically. **Keep in mind, a strong and reliable internet connection is necessary for this luxury.
  2. PC and Mac friendly – The interface is PC and Mac friendly since it is accessed through an internet browser.
  3. Accountant access – For our firm, this is a big deal. This means we can troubleshoot right along with you or simply log in and quickly solve any issues you have.
  4. Speaking from experience, this has been the biggest positive.  There are little to no worries in backing up files, sending files and restoring files. All of those stresses are eliminated including their potential to fail. I have seen plenty of corrupted files that can’t be restored, files that are too big and bulky to send via email and the loss of valuable information and time from an old restore gone wrong.
  5. Anywhere/anytime access – If you have an internet connection and are so inclined, you could log in and check your books.

Here are a few drawbacks to QuickBooks Online we have come across: that we have identified at Hall Kistler & Company.

  1. Hall, Kistler & Company LLP It is not easy to “test” a scenario – On the desktop version, there is always the option to backup a file before you make achange. That is not the case online, where pulling information down from the cloud requires a call to support and another call to bring it back up and a possible fee.
  2. Memorized reports not transferable -If you have very specific memorized reports, QuickBooks Online might not be able to recreate them.
  3. Cost – This has been the biggest deterrent for many people. As a businessperson, you have to weigh the monthly cost versus the potential 3-year renewal with a desktop version.
  4. Set up – As with any software, it requires some adjustment to make it your own. In the case of QuickBooks Online, we have found lining up checks takes some doing and getting reports to look and act like you want can be cumbersome at first.

 Here is the Myth of QuickBooks Online:

One last item is that of myth busting. I have heard concerns with the lack of controls or audit trail. QuickBooks Online does keep a very detailed report of every activity within QuickBooks Online including logging in, deleting deposits, voiding checks, just to name a few.

Before you buy any QuickBooks products, we have ProAdvisorSM on staff at Hall Kistler & Company (including myself) that receives discounts on all QuickBooks Online software, and we can pass those savings on to you.  Call us at 330-453-7633 and let our accountants at Hall Kistler & Company help you navigate the cloud! Find us online at http://www.hallkistler.com/quickbooks-proadvisor

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About Sarah Yost

Sarah practices in the areas of bookkeeping, accounting, audit, and tax for clients in the Oil and Gas and Manufacturing industries. She also has experience in preparing 1040's as well as bankruptcy workouts. Sarah can be reached at 330-453-7633.

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