Quickbooks introduced their latest most robust version of their online accounting software some time back and it definitely has some features that many businesses could utilize.\u00a0There are definitely powerful enhancements to move your business forward. But at $150 a month, it is significantly more expensive than their other options.\u00a0 So, who is Quickbooks Online Advanced Accounting software appropriate for?\u00a0 Let\u2019s take a look.<\/p>\n\n\n\n
User Access<\/strong>: You can have up to 25 users which is 5 times as many as with their next lower level.\u00a0 So, if you have a large accounting department or if you have other types of users that you want to access your Quickbooks file, then the additional users will be handy.\u00a0 This is great if you have employees that you want to track their time in QB or if you maintain inventory and several employees who need access to Purchase Orders and other inventory tasks. Plus the next feature enhances how those users can work.<\/p>\n\n\n\n User Roles<\/strong>:\u00a0 User roles can be customized in Advanced far beyond what is possible with the other versions.\u00a0\u00a0 You can create unique user access for just about every employee so you control what they can do, what they can see and what tasks they are allowed to perform. You can really drill down to specific tasks and reports that each employee can access or see.<\/p>\n\n\n\n Priority Support:<\/strong> You get a dedicated Account Support Team and jump to the top of the line when you need technical support.\u00a0 Your designated Account Manage can answer all of your How To, Where Do I find questions so you get answers immediately. That saves you from needing to contact your accounting firm when you need a quick answer that is just about how to do something.<\/p>\n\n\n\n Batch Invoicing:<\/strong>\u00a0 You can import and send batch invoices.\u00a0 This is really helpful if you create invoices in another program and want to be able to enter them into your accounting software in bulk.\u00a0 It is also handy if you are converting from another software and want to import your invoice history.\u00a0 If you create high volume of invoices that are almost identical except for the customer, you can create them in a template and when done, import all of them at once.<\/p>\n\n\n\n Enhanced Custom Fields:<\/strong> 48 of them. These are huge and can be used for many purposes.\u00a0 An example is Sales Rep that you can design with a drop-down list so the correct sales rep is assigned to each transaction.\u00a0 Many, many more uses for custom fields.\u00a0 These translate to your reporting so you can pull reports by filters that are critical to your business decision making process.\u00a0 Some other examples are: <\/p>\n\n\n\n Automated Work Flows:<\/strong>\u00a0 Advanced helps you automate certain work flows to make you more effective and efficient.\u00a0 You can save time and mitigate risk with automated workflows.\u00a0 Configure reminders and triggers based on your own rules and Automate reminders for improved cash flows and more.\u00a0 <\/p>\n\n\n\n Chart of Accounts:<\/strong>\u00a0 If you have a large Chart of Accounts, 250 or more, you would have to upgrade to Quickbooks Online Advanced because the other options will not support a Chart of Accounts that large.<\/p>\n\n\n\n Reports:<\/strong>\u00a0 My favorite feature is the robust financial reporting with their partnership with Fathom.\u00a0 With Quickbooks Online Advanced, you get the reporting power of Fathom which is really powerful.\u00a0 Beautiful reports that have graphs and charts AND you can use and create KPIs (Key Performance Indicators) specific to your business and track your performance.\u00a0 Plus, it is interactive for planning purposes.\u00a0 If you want to see what an increase in sales would do if you want to see what a different gross profit margin would do, you simply change that measurement and Voila, the financial reports show you what that change would do to the bottom line.\u00a0 It is truly powerful, useful and could change how you strategize, plan and create better success for your business.<\/p>\n\n\n\n Free training:<\/strong> You and your employees get access to lots of on-demand training videos so your employees can get up to speed quickly and on their own schedule.\u00a0 You get a $2,000 credit toward these videos that are usually at additional cost.\u00a0 Get a group of employees together to watch these videos and they all get trained in the same identical way and all get the same information so they can now work as a team to support each other.<\/p>\n\n\n\n If you have a growing business or one that has been more\ncomplex than the other online versions could effectively manage, Quickbooks Online\nAdvanced might be a good fit for you and well worth the $150 a month. Getting 20 additional users saves you quite a\nbit, so if you are limited by the number of users in your current version, this\nmay be a great idea. Really, $1,800 a\nyear for powerful, useful accounting software that you can customize to manage\nyour business tasks, financial reporting and management reports is not very\nmuch.<\/p>\n\n\n\n