QuickBooks is a popular accounting software used by millions of businesses worldwide to manage their financial operations. While the traditional desktop version of QuickBooks has been the go-to choice for many businesses, the advent of cloud technology has given rise to newer versions of QuickBooks that are designed to offer greater convenience, flexibility, and accessibility.
Two such versions of QuickBooks are QuickBooks Online and QuickBooks Hosting. While both are cloud-based versions of QuickBooks, there are significant differences between the two. In this article, we will explore the differences between QuickBooks Online and QuickBooks Hosting, and help you choose the right version for your business.
QuickBooks Online
QuickBooks Online is a cloud-based version of QuickBooks that allows businesses to manage their finances from anywhere, at any time, using a web browser or a mobile app. QuickBooks Online is hosted on Intuit’s servers, which means that businesses do not need to install any software on their own computers.
One of the main advantages of QuickBooks Online is that it is easy to use and requires no technical expertise. The user interface is intuitive and user-friendly, with easy-to-navigate menus and buttons. In addition, QuickBooks Online is constantly updated with new features and improvements, so businesses can be assured that they are using the latest version of the software.
Another advantage of QuickBooks Online is that it offers automatic backups and data storage. This means that businesses do not need to worry about losing their data in case of a system failure or a natural disaster. In addition, QuickBooks Online offers multi-user access, which means that multiple users can access the software simultaneously from different devices.
QuickBooks Online also offers a range of features that are designed to help businesses manage their finances more effectively. These include:
Invoicing: QuickBooks Online allows businesses to create and send invoices to customers, track payments, and send reminders for unpaid invoices.
Expense Tracking: QuickBooks Online allows businesses to track their expenses and categorize them for tax purposes.
Bank Reconciliation: QuickBooks Online allows businesses to reconcile their bank accounts and credit cards automatically, which can save time and reduce errors.
Reporting: QuickBooks Online offers a range of reports that can help businesses gain insights into their financial performance, such as profit and loss statements, balance sheets, and cash flow statements.
QuickBooks Hosting
QuickBooks Hosting, on the other hand, is a cloud-based version of QuickBooks that is hosted on a third-party server. This means that businesses need to install QuickBooks software on their own computers, but the software is then connected to a remote server where the data is stored and the software is accessed.
One of the main advantages of QuickBooks Hosting is that it offers greater customization options. Since businesses have their own dedicated server, they can customize the software to meet their specific needs and requirements. In addition, QuickBooks Hosting offers more control over the data, since businesses can choose where the data is stored and who has access to it.
Another advantage of QuickBooks Hosting is that it offers greater flexibility. Since businesses have their own dedicated server, they can access the software from anywhere, at any time, using any device that has an internet connection. This can be particularly useful for businesses that have remote workers or employees who work from home.
QuickBooks Hosting also offers a range of features that are similar to QuickBooks Online, such as invoicing, expense tracking, bank reconciliation, and reporting. However, since QuickBooks Hosting is hosted on a third-party server, the features and functionality may vary depending on the hosting provider.
Differences between QuickBooks Online and QuickBooks Hosting
Now that we have explored the features and advantages of both QuickBooks Online and QuickBooks Hosting, let’s take a closer look at the differences between the two:
QuickBooks Online and QuickBooks Hosting are two cloud-based versions of QuickBooks that are designed to offer greater convenience, flexibility, and accessibility to businesses. While both versions of QuickBooks share similarities in terms of features and functionality, there are significant differences between the two. Here are the main differences between QuickBooks Online and QuickBooks Hosting:
Accessibility
QuickBooks Online is a cloud-based version of QuickBooks that can be accessed through a web browser or a mobile app. This means that businesses can access their financial data from anywhere, at any time, as long as they have an internet connection. In contrast, QuickBooks Hosting is a cloud-based version of QuickBooks that is hosted on a third-party server, which means that businesses need to install QuickBooks software on their own computers, but can access the software and their data remotely from any device with an internet connection.
Maintenance and Updates
With QuickBooks Online, Intuit is responsible for maintaining and updating the software on its servers, which means that businesses do not need to worry about installing updates or maintaining the software. In contrast, with QuickBooks Hosting, businesses are responsible for maintaining and updating the software on their own computers, but the hosting provider is responsible for maintaining and updating the server and the infrastructure.
Customization
QuickBooks Online offers a range of features and customization options that are designed to meet the needs of most businesses. However, businesses that have specific requirements may find that QuickBooks Hosting offers greater customization options. Since businesses have their own dedicated server, they can customize the software to meet their specific needs and requirements.
Security
QuickBooks Online is hosted on Intuit’s servers, which are designed to be highly secure and offer automatic backups and data storage. This means that businesses do not need to worry about losing their data in case of a system failure or a natural disaster. In contrast, with QuickBooks Hosting, businesses need to choose a hosting provider that offers secure servers and data backup options, and are responsible for securing their own computers and networks.
Cost
QuickBooks Online is a subscription-based service that charges a monthly fee, with different pricing plans based on the number of users and the features required. In contrast, QuickBooks Hosting is typically offered by hosting providers as a pay-per-use service, with pricing based on the number of users and the amount of data stored.
Which one is right for your business?
The choice between QuickBooks Online and QuickBooks Hosting depends on a variety of factors, including the size and complexity of your business, your budget, and your specific requirements. Here are some considerations to keep in mind:
If you have a small to medium-sized business with basic accounting needs, QuickBooks Online may be the best option. It is easy to use, requires no technical expertise, and is updated automatically. It is also a good option if you have remote workers or employees who need access to the software from different locations.
If you have a larger business with more complex accounting needs, or if you require more customization options, QuickBooks Hosting may be the best option. It offers greater control over the software and the data, as well as greater flexibility in terms of customization options.
If you are concerned about security or have specific data storage requirements, QuickBooks Hosting may be the best option. Since businesses have their own dedicated server, they can choose where the data is stored and who has access to it. Ultimately, the choice between QuickBooks Online and QuickBooks Hosting depends on your specific business requirements and priorities. Both versions of QuickBooks offer a range of features and benefits that can help businesses manage their finances more effectively, and both are designed to be user-friendly and easy to use.
