Q: Should I Switch to QuickBooks Online?

Article Posted on 08/27/2019

A:  We do not recommend QuickBooks Online (QBO) to everyone that currently uses the Desktop version.  If you use any of the following features, we would recommend you stay on Desktop to keep these features working for you because they are not available in QBO:

  1. Sales Orders
  2. Fixed Asset Tracking with Fixed Asset Manager
  3. Price Levels
  4. Estimate to Actual Reporting
  5. Balance Sheet by Class

If you answered yes to using any of these features and still want to convert to QBO, you will have to look for an App to integrate the missing feature into QBO or deal without it.

If you answered no to using all of these features, then you are a candidate for the switch!

You should know that not all data will be imported during the conversion from Desktop to QBO.  Here is a list of those things that will be lost so consider if any are a deal breaker:

  1. Reconciliation Reports.  You will pick up where you left off, but all previously reconciled transactions will be cleared off without the reports to view each prior month.
  2. Customized Reports.  You will have to set up all new reports for yourself and your accountant.
  3. Audit Log.  The audit log will start over tracking changes made in just QBO.
  4. Recurring credit card charges.  If you use automatic credit card charges, you will have to set those up again as a recurring sales receipt.

Please note there are size limitations on the file being converted.  You must have less than 350,000 targets which is found by hitting F2 on your keyboard, look under Total Targets.  If you are over that, you must first condense your file to a smaller size.

If you meet all of these criteria and are interested in converting, we would be happy to discuss your personal situation and do a price comparison.  Please contact us and watch future blog posts for more QBO information!

Kopsa Otte
  • kopsa otte CPAs & Advisors
  • 306 East Seventh Street
  • York, NE 68467
  • 1-402-362-6636