QuickBooks Online is similar to QuickBooks in a Cloud Hosted Environment because both are accessible anywhere, anytime, and on almost any internet-connected device. However, beyond these few similarities, they are quite distinct.
QuickBooks Online is for very basic entry-level businesses and individuals who want access to QuickBooks from their browser. There are limited capabilities within QuickBooks Online, and add-ons to the program are not available. You are not currently able to import data from previous versions of QuickBooks, Excel, Quicken, or MS Office into QB Online. You can only view a single window at a time and are not able to do side-by-side comparisons of reports as you can with the desktop version. The lack of features for QB Online leads to basic bookkeeping options, but if your company is just starting out and you are very price-conscious, then this might be a perfect fit for your company. One benefit of QB Online is that it is updated automatically, so you no longer have to purchase a newer version.
If you are happy with your current version of QuickBooks, but are looking to have remote access, Cloud Hosting is a great option because you don’t have to learn new software, and all of your information can be easily transferred to your virtual desktop. Cloud-hosted QuickBooks, through a service provider, allows you to have the full desktop product, and you can utilize Microsoft Office on your virtual desktop, enabling your business to have information flow automatically between employees. You will have the benefits of added security and remote servers so that none of your information will be lost in case of a disaster. Backups are performed nightly to ensure there is no loss of data.
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