Quite frequently, we find ourselves in situations with an urgent need to address an issue related to our financials or accounting processes. When that happens, what is our very first step? We Google for the answer, straight ahead. As we type our drafted question into the Google search box and eagerly wait for an answer, a number of ads, opinions, and spam intrude our way. Every web page, every keyword seems to be vying for your attention, and the majority failing to give us a proper answer or a direct solution to our question. In despair and a little fumbled, we start to call up companies with the best Ad-sense and whose ad popped up on top and try to search for results. Even then, all we get is a wait time for the “valued customer”. Now, this is where Sagenext comes into play. In this write-up of ours, we are addressing the most frequently asked queries about QuickBooks and QuickBooks cloud hosting.
Let us now look into the straight forward answers to the 7 most frequently asked questions regarding how QuickBooks functions:
How does QuickBooks hosting differ from QuickBooks Online?
QuickBooks Online is a product developed by Intuit, that can be accessed online via a browser that contains all of its functionalities.
Now, coming to QuickBooks hosting- the desktop versions of QuickBooks such as Pro, Premier, and Enterprise can be hosted on the cloud via a hosting provider such as Sagenext.
After rigorous testing, it has been found that the Pro/Premier/Enterprise version of QuickBooks desktop software is more robust in functionality when compared to QuickBooks Online. The desktop or the hosted version is also preferred over the Online version due to its inherent usability and an easy user interface in a Windows environment over the online version of QuickBooks.
Hosting of the QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise versions has now become the most viable option. In QuickBooks hosting, a cloud vendor provides the server remotely and ‘hosts’ the Pro/Premier/Enterprise product for you.
Does using QuickBooks require extra ongoing work?
Well, to say the truth, it very much depends on the perception and situation.
If you are someone who currently manages the business with the use of spreadsheets and are creating purchase and sales orders, and invoices using Microsoft Word, you will probably find QuickBooks quite beneficial as it will decrease your work efforts and increase the quality, accuracy, and productivity of your business. Whereas, if you currently aren’t involved in inventory management, payables, receivables, etc. for you, QuickBooks would be something that requires additional business process and would call for extra information management discipline.
Can QuickBooks manage inventory?
Indeed. The desktop version of QuickBooks namely Pro, Premier, and Enterprise gives you the ability to track both- quantity as well as product value. Your inventory is set to increase by using features like Purchasing or Receiving, or by using Assembly Build in order to create assemblies. The inventory is consumed when one uses the Sales Order/Invoice features or even by using the Assembly Build to consume the various components. Often, a physical inventory is a good place to implement QuickBooks inventory. Integrating QuickBooks with your business process really well also helps. Doing so decrements the inventory in QuickBooks simultaneously in the event of the product leaving the warehouse.
Will QuickBooks support tracking inventory at multiple inventory sites?
The Enterprise version of QuickBooks has an advanced inventory feature that can be purchased by paying an additional annual fee. With advanced inventory, you have the ability to track inventory at multiple warehouses. It is used to track multiple locations within a single warehouse too and has inventory sites for components, finished goods, WIP, and Quarantine/Inspection. You can also track bins or shelf locations.
When should I use QuickBooks Payroll solutions?
Intuit, the developer of QuickBooks, offers a payroll feature that is fully integrated and is launched from within QuickBooks. Upon proper setup, it automates the accurate financial tracking of paychecks. Thus, no further journal entries are needed. Intuit offers full tax return and tax deposit service just like many of the leading payroll companies provide. The only difference that the integrated payroll solution creates is that it is launched from within QuickBooks. You can know more about their payroll service. Integrated payroll can be used in tracking employee time in QuickBooks.
Is QuickBooks limited to being just a financial system?
Our answer to that would be ‘no’. The functionality of QuickBooks is not just limited to be used to record straight financials. It’s capacities extend way beyond that. For instance, QuickBooks can help you manage your order and inventory if you are a product company. It also has the feature of printing your pack-slips, pick-lists, and account tracking. If you are a business involved in ‘lite’ manufacturing, QuickBooks can help you track your receivables. It helps in tracking your component inventory and consumes those components when in an assembly build process.
If you are someone who is involved in a services company or is a general contractor, QuickBooks can help you track and analyze profitability by customer engagement via job-costing features. Time-tracking and re-billable expenses can also be managed by QuickBooks.
Does QuickBooks offer the feature of Material Requirements Planning (MRP)?
Well, to put it in a short straight forward answer- ‘no’. QuickBooks does not provide MRP capabilities such as scheduling production and purchase by default. QuickBooks does not drive a component’s purchasing schedule based on the information of the sales plan or production requirements. Meanwhile, smaller companies should opt for using QuickBooks reports and some off-line analysis to support their needs of intricate details until they can bear the cost of a multi-function MRP system.
A word based on our years of experience in cloud hosting
Like every other technological development that there has been or any software that there is, QuickBooks has its share of limitations too. But in no way is it an inefficient software. It is fairly low-cost and entry-level accounting software with quite a bit of flexibility for each individual size and type of business. It so happens that many a time, businesses aren’t fully aware of all of the features that QuickBooks has to offer and thus they end up not enjoying fully the marvel that QuickBooks is. Having been in the cloud hosting industry for over a decade now, we understand the various intricacies involved with different accounting and tax software. If implemented and managed properly, QuickBooks turns out to be just the perfect companion if you’re just venturing out into the business world or are an established small or medium-sized business.
Having known about QuickBooks and QuickBooks cloud hosting, you can also read about the 5 important questions that you should ask your hosting provider, as it is true that a lot of your software experience is based on the quality of the service provided by your cloud hosting company.