QuickBooks Online Advanced Review: Our Verdict
QuickBooks Online Advanced is a robust financial management tool you need to streamline the operations of your growing business. Its advanced features, including robust reporting, automation capabilities, and customizable workflows, offer you a significant advantage over standard accounting software.
While it requires a steeper learning curve, the investment in time is repaid through increased efficiency and deeper financial insights. If you’re outgrowing your current system and demand a solution that can handle complex financial needs, QuickBooks Online Advanced is definitely worth considering.
Pros
- Offers advanced reporting features.
- Provides customizable workflows.
- Supports up to 25 users.
- Integrates with a wide range of apps.
- Includes dedicated customer support.
- Automates processes like invoices and approvals.
- Scales well for your growing business
Cons
- Requires a higher subscription fee.
- Faces a steep learning curve for new users.
- Lacks some industry-specific features.
- Limits some advanced features to third-party apps.
>>> MORE: QuickBooks Invoicing vs FreshBooks
QuickBooks Online Advanced Review: Who QuickBooks Online Advanced Is Best For
QuickBooks Online Advanced is your best option if you’re someone who:
- Needs advanced reporting and analytics.
- Wants to manage a larger team with multiple users.
- Requires custom workflows and automation.
- Manages a growing business with increasing complexity.
- Seeks integration with various third-party apps.
- Needs enhanced customer support and training.
- Handles large volumes of transactions and data.
QuickBooks Online Advanced Review: Who QuickBooks Online Advanced Isn’t Right For
QuickBooks Online Advanced is not right for you if you:
- Need basic accounting features only.
- Want an affordable solution for a small business.
- Prefer a simpler user interface with minimal features.
- Require industry-specific accounting tools.
- Need multi-currency functionality.
- Have a small team and don’t need many users.
- Want seamless offline functionality.
QuickBooks Online Advanced Review: What QuickBooks Online Advanced Offers
QuickBooks Online Advanced helps you simplify managing your business finances efficiently. The platform accomplishes that through its:
- Advanced reporting: You have access to customizable reports that give deeper insights into your business. QuickBooks Online Advanced allows you to create detailed reports using a drag-and-drop interface. You get reports that are specific to your needs. It also offers pre-built reports, so you can quickly see your business’s performance.
- Custom workflows: With this feature, you can automate repetitive tasks, such as sending invoice reminders, approving expenses, or even notifying team members about pending tasks. This helps you streamline your processes and save time.
- User permissions for up to 25 users: If your business has multiple employees who need access to your accounting software, QuickBooks Online Advanced supports up to 25 users. You can set custom roles and permissions, so each user only has access to the data s/he needs to do the job.
- Integrations with apps: QuickBooks Online Advanced integrates with a wide variety of business apps, from project management tools to inventory systems. This helps you streamline different aspects of your business.
- Priority circle and dedicated customer support: With QuickBooks Online Advanced, you get access to Priority Circle, which includes a dedicated account manager who is available to assist you whenever you need support. One cool thing with this personalized service is that it helps you troubleshoot issues faster and get advice on how to make the most of QuickBooks Online.
- Batch invoicing and expenses: This feature allows you to manage multiple transactions at once, such as sending invoices in bulk or entering multiple expenses quickly. Count this perk as a plus especially if your business handles a large volume of transactions.
- Smart reporting powered by Fathom: QuickBooks Online Advanced integrates Fathom, a financial reporting app, into its service. Fathom provides you with deeper financial analysis and creates visual reports like performance dashboards and financial forecasts. You gain insights that go beyond traditional accounting reports.
- Custom fields: You can add up to 48 custom fields to track additional data relevant to your business. Whether it’s tracking information about customers, vendors, or transactions, custom fields allow you to capture data that’s important to you but likely not fit into standard accounting fields.
- Enhanced support for growth: QuickBooks Online Advanced grows with your business. Whether you’re adding more users, processing more transactions, or needing deeper insights, the software handles increased complexity without slowing you down.
>>> PRO TIPS: How to Find Free Invoicing Software
QuickBooks Online Advanced Review: QuickBooks Online Advanced Details
QuickBooks Online Advanced is a comprehensive financial software platform that takes care of the complex needs of your venture. It offers robust features including advanced reporting, inventory management, and seamless integration with other business tools. With its ability to automate routine tasks and provide real-time financial insights, QuickBooks Online Advanced significantly enhances your business’s financial health.
The cost of QuickBooks Online Advanced varies depending on your specific needs and the number of users. Generally, you can expect to pay a monthly subscription fee. For example, the QuickBooks Online Advanced plan starts at $117.50 per month. It’s essential to evaluate your business’s unique requirements and compare pricing plans from different providers to find the best fit for your budget.
QuickBooks Online Advanced Review: Where QuickBooks Online Advanced Stands Out
QuickBooks Online Advanced stands out for its:
- Scalability for growth: If you’re expanding, QuickBooks Online Advanced grows with you. It supports more users and offers custom roles, so as your team expands, you can assign specific access levels based on each person’s role.
- Advanced reporting: It gives you the ability to create custom reports tailored to your needs. This means you can track the metrics that are important for your business and smarter decisions.
- Automation of tasks: Features like batch invoicing and automated workflows save you time by reducing manual tasks. If you’re tired of repetitive processes, this automation can really boost your efficiency.
- Enhanced support and training: With QuickBooks Online Advanced, you get priority support, which means quicker assistance when you need it. Plus, there’s on-demand training to help you and your team master the system.
- Data and insights: The platform offers tools like Fathom, which provides detailed performance reports and insights. This helps you get a better understanding of your financial health at any given time.
QuickBooks Online Advanced Review: Where QuickBooks Online Advanced Falls Short
If you’re considering QuickBooks Online Advanced, it’s a solid choice for many businesses, but it has a few limitations that you need to know about:
- Limited customization: While you can create custom reports, their flexibility can be an issue. If you’re managing a business with unique reporting needs, the limitations here can become frustrating.
- Complexity for smaller businesses: It’s best for larger businesses, so if your operation is small, the extra features can feel overwhelming or unnecessary.
- Limited integration capabilities: QuickBooks Online Advanced doesn’t integrate smoothly with certain third-party applications. If you rely on specific tools outside the QuickBooks ecosystem, you are going to struggle to get everything working together seamlessly.
- Cost: It’s more expensive compared to other QuickBooks plans. If you’re just stepping up from a lower-tier plan, the price jump can feel steep, especially if you don’t fully utilize all the features.
>>> GET SMARTER: Invoice2Go Invoicing Software Review
QuickBooks Online Advanced Review: How to Qualify for QuickBooks Online Advanced
QuickBooks Online Advanced is actually not for all businesses. Consider it ideal if you:
- Demonstrate growth in business operations
- Use multiple users in your accounting system
- Manage a high volume of transactions
- Require advanced reporting and customization
- Need enhanced support and training options
- Seek access to advanced integrations and tools
Once you tick all the boxes above, you can go ahead and apply for the software. If not, consider other alternatives (Check below for QuickBooks interesting alternatives).
QuickBooks Online Advanced Review: How to Apply for QuickBooks Online Advanced
To apply for QuickBooks Online Advanced:
- Evaluate your business needs: Consider whether you need the advanced features, such as more users, custom reporting, and automation tools.
- Sign up on the QuickBooks website: Visit the QuickBooks website.
- Select your subscription plan: Choose the plan that fits your needs. QuickBooks often offers promotional pricing, so make sure to review the current offers before committing.
- Provide payment information: After selecting your plan, enter your payment details. QuickBooks charges you according to the subscription terms (monthly or yearly).
- Set up Your QuickBooks Advanced account: Once you complete the payment, set up your QuickBooks Online Advanced account. You can start importing data, setting up users, and customizing your dashboard to fit your business.
- Access onboarding support: QuickBooks offers onboarding support for new Advanced users. Use this to ensure a smooth transition from your current system or from another QuickBooks product.
- Explore training resources: After your account is set up, take advantage of the training resources and support QuickBooks offers in order to maximize its potential for your business.
QuickBooks Online Advanced Review: Alternatives to QuickBooks Online Advanced
Xero
Xero is a cloud-based accounting software you can use to simplify your business’s financial management. It delivers its best if you’re managing a small or medium-sized business. Xero offers a user-friendly interface and powerful features like automatic bank feeds, invoicing, expense tracking, and payroll processing.
With Xero, you can access your financial data anytime, anywhere, and make informed business decisions based on real-time insights. Its ability to integrate with a wide range of third-party apps further enhances its functionality, making it a versatile tool for managing your finances efficiently.
Sage Intacct
Sage Intacct is also a cloud-based financial management platform that helps smoothen your business accounting. It’s more than just accounting software; it’s a tool that provides you with real-time insights into your business’s financial health. With its ability to handle complex accounting tasks, automate processes, and integrate seamlessly with other systems, Sage Intacct can significantly streamline your operations.
You benefit from features like advanced reporting, robust analytics, and customizable dashboards. Whether you’re managing multiple entities, tracking complex projects, or simply looking to improve financial visibility, Sage Intacct offers a scalable solution to meet your needs.
Zoho Books
Zoho Books is another cloud-based accounting software that simplifies your financial management. It offers a comprehensive suite of features including invoicing, expense tracking, inventory management, and bank reconciliation. You can easily manage your customers, vendors, and projects, and generate insightful reports to make the right business decisions.
Zoho Books also integrates with other Zoho applications, such as CRM and inventory management, providing a holistic view of your business operations.
Whether you’re a freelancer or a small business owner, Zoho Books can help you stay on top of your finances and focus on growing your business.
QuickBooks Online Advanced Review: Customer Reviews
You know the traffic light and what the red color means. It means stop. That’s exactly what QuickBooks customer reviews point at. It reviews a bad rating of 1.2 out of 5-star based on 786 customer reviews on TrustPilot. Aggrieved customers accuse the platform of scam, lack of transparency, dishonest and unethical behavior, among others.
Pro Tips
- Assess your business size: Make sure your business is large enough to fully benefit from the advanced features, such as multiple users and custom workflows.
- Review the feature set: Compare the features of QuickBooks Online Advanced with your current business needs. Don’t pay for extras you won’t use.
- Check integration compatibility: Ensure that QuickBooks Online Advanced integrates with the other apps and tools your business relies on.
- Consider your reporting needs: If you require in-depth or custom financial reports, verify that the reporting tools in QuickBooks Online Advanced meet those demands.
- Factor in support: Take into account the enhanced customer support and training that comes with QuickBooks Online Advanced, especially if your team needs onboarding help.
- Weigh the cost against value: Carefully evaluate whether the cost of the advanced plan aligns with the specific features your business will use regularly.
Recap
QuickBooks Online Advanced is best for growing businesses like yours that need more robust accounting solutions. It offers features such as customizable reporting, the ability to manage up to 25 users, and workflow automation to streamline your financial processes.
However, it’s important to consider whether your business is going to truly benefit from these advanced tools, as it comes with a higher cost compared to other QuickBooks plans. If you’re dealing with high transaction volumes, multiple departments, or need in-depth financial insights, this plan can save time and improve accuracy. But if you’re a smaller business, it is going to feel like overkill, so weigh its benefits carefully before making the switch.
