QuickBooks Conversion to Online
As providers of Part-time CFO services, Perron & Low is typically highly involved in the selection, updates, and implementations of accounting systems. Among our clients, the most popular accounting software is QuickBooks which offers both desktop and online versions. In recent years discussions surrounding whether to convert their QuickBooks file from Desktop to Online have become more frequent.
Determining the Best Fit
QuickBooks Desktop software, which includes single user and Enterprise versions, is very robust and flexible so it is understandable that many users are reluctant to change the software. There are many features in Desktop versions that are not available online. These include:
- Inventory has more robust options
- Progress Invoicing and Sales Orders
- Integrates more fully with the QuickBooks Point-of-Sale module
- More robust customization including forms and chart of accounts
- Depending on which QuickBooks one uses, the desktop can be less expensive because the software is purchased and does not have a monthly fee
On the other hand, QuickBooks Online offers its own advantages:
- Easier collaboration of multiple users, especially if remote or not on the same network
- No need to worry about hosting or updating software
- Easy access for 3rd parties like a CPA firm or an Outsourced CFO like Perron & Low that have multiple clients on QBO
- Most of the functionality of Desktop for accounts payable, accounts receivable, sales, and payroll is included
Perron & Low has found that the flexibility of remote access for all users is the single most important reason companies have wanted to convert to online. However, each analysis and decision is client specific.
The Conversion Process
Once the review is done and you have decided to convert the file , the process is painless and, since you keep a copy of your file on the desktop, there is no risk to your company financial information. During the past few years, Perron & Low have converted many desktop files for clients.
In General, the process encompasses the following steps:
- Review – reviewing the QB company file for size and other requirements
- Update – update the Desktop company file to most recent release
- Create the Online Company
- Reports – print Desktop financial reports for post conversion comparison
- Convert – within QuickBooks Desktop, simply select the option to submit the file for conversion. After short time, your online file will be ready to use.
- Reconcile – compare online financials with the Desktop reports
There is no need to run the systems in parallel. Just do the steps above to ensure your data has transferred properly and start working online. Also, the work can be done entirely remotely, so though we’re based in Boston and Tampa, we can do this work anywhere.
Whether or not you want to process your Accounting transactions yourself, we recommend hiring a QuickBooks Pro-Advisor to help with pre- and post-conversions processes. The Pro-Advisor can add the following key points:
- Reducing monthly costs – if a QuickBooks Pro-Advisor does the conversion , the Pro-Advisor can potentially get you up to a 50% reduction in the monthly cost of QuickBooks online
- Smooth Transition – Although the conversion can be done without help, having an experienced person process the change will ensure a speedier resumption of normal processing.
- Education – part of the conversion process should include training of users on the new system. Although Quick Books Online is very similar to Desktop, there are key differences and ongoing work will be less frustrating for users if post conversion training is used.
Perron & Low’s team has had QuickBooks Pro-Advisors on staff for more than 20 years as well as providing experience Part-time CFO and Controller services. If you are thinking of converting your file or just need some QuickBooks help, please let our Advanced QuickBooks Pro-Advisors help you.