Quickbooks Online offers amazing cloud accounting value

If you’re looking for new accounting software definitely include Quickbooks Online in your thinking. It’s really good software and being sold until the end of June 2015 at the amazingly low $4.99 / month* for the life of the file.

The software is proven, feature rich, reliable and future proof. It’s a totally new product compared to the one I wrote about in 2013 and one which Intuit continues to invest in heavily. Globally Intuit dwarfs Xero’s market capitalisation and has more than twice Xero’s online accounts. It’s great that they now have local support in Australia and a local sales team to help new clients get going.

The $4.99 / month offer covers the most complete version of the software. The long list of features is likely to meet the needs of most small and many medium sized businesses and includes:

  • Automatic bank feeds
  • Unlimited invoices, bills, quotes, purchase orders, remittance advices and expense receipts
  • Bulk bank payment files (ABA files)
  • Category tracking (to track individual performance of things like projects, jobs, locations and teams)
  • GST accounting and BAS reports
  • Payroll for up to 10** staff (using an integrated third party app)
  • 65+ reports
  • Budgeting and variance reporting
  • Access for 5 users simultaneously (and reasonably good permission  controls)
  • Multi currency
  • Inventory management
  • Nice phone and tablet apps

Despite all that goodness, as with any software selection you’ll need to check it has the features critical to your business. Supplier invoicing templates are not as flexible as they need to be for some businesses, and it’s not as strong as Xero with multi user collaboration (notes, and approval work flows). QBO also limits the add-ons that work with it, preferring a “best of breed” approach to avoid disappointment. So while it’s likely to have a great add-on for most purposes, it may not work with one you want it to.

*Note this price is only available when purchased through partners – get in touch with Slate if you’d like to take up the offer.

**Additional fees apply for more staff

Intuit CEO Brad Smith (right) poses with Xero CEO Rod Drury at SleeterCon in Las Vegas. © Doug Sleeter

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