QuickBooks Online- Top Five Features

QuickBooks Online – Top Five Features

Since its release in 2001, QuickBooks Online has developed the reputation of being Intuit’s popular cloud accounting software for small businesses, individuals and accountants. This software’s popularity derives partly from the ease with which its cloud accounting functions can be adapted to the accounting needs of individual organizations. Such adaptability is a result of the diverse accounting features that distinguish QuickBooks Online. The availability of these features varies according to the respective users’ subscriptions, since users of QuickBooks Online gain access to the software by paying for the periodic subscriptions they select.

Five top features of QuickBooks Online users are the software’s capabilities that relate to banking, invoicing, financial reports, accessibility and data security. The following are brief descriptions of these top five features.

Banking

Subject to the use of secure connections, QuickBooks Online can routinely download and classify data from accounts held by financial institutions for organizations. The organizations can access transaction data from their banks, automatically match the data with entries in the organizations’ accounting records and apply the appropriate accounting treatment to the transactions. This enhances the efficiency of the accounting process.

Invoicing

By means of its invoicing feature, QuickBooks Online enables users to customize their invoices. This feature gives organizations the liberty to create original invoices or invoices based on templates. For custom invoices after opening QuickBooks Online, the user may access the invoicing feature and create an invoice by clicking the “Create” icon which appears as a “+” sign at the top of the page. The template based invoice may be created by using the “Create Invoice” option in the window for “Customers”.

Financial Reports

QuickBooks Online has the feature of being able to synchronize accounting data on all devices used by an organization. In this context, the software enables responsible officers to examine the organization’s financial records and electronically effect transactions for the organization. Using QuickBooks Online ensures easy access to essential financial information such as income statements, balance sheets and cash flow statements. Additionally, the software provides ready access to estimates, receipts, checks, invoices, and transaction histories. QuickBooks Online has a built-in capacity to generate many other reports regarding an organization’s financial status.

Accessibility

Unlike desktop accounting software, QuickBooks Online has the feature that enables an organization’s authorized personnel to access the same software and data, even if these representatives are in physically different locations. By using QuickBooks Online, organizations do away with the traditional need to install and maintain software on individual computers and local computer networks. QuickBooks’ authorized hosting companies provide any technical support required by users of QuickBooks Online.

Data Security

One top feature of QuickBooks Online is the enhanced safety and confidentiality that it provides for user accounting data. It automatically backs up the accounting data and the cloud preserves such data, even if the applicable computers malfunction. Encryption mechanisms used by QuickBooks Online are comparable to those high standards used by banks and similar financial institutions giving its users complete confidence and peace of mind.