QuickBooks Online

Pros

This software is very easy to use, I have used both for LLC and Self Employed versions and can customize to what the clients need. Running reports for various needs is quick and easy.

Cons

Depending on the version and add on service that you use the 1099 reporting was a little more expensive than another service I found in recent years, but overall not an outrageous amount at all.

Pros

Quickbooks is the most well-known accounting software on the planet. It's slick, the software is implemented and developed well with no bugs in my experience, and the capability fits any size business via their subscription plans. This was very much needed for me as a small business owner and it's been a great step up from what I was previously doing.

Cons

Here's the cons: When setting up an employee the software gave me a notification and wouldn't allow me to go further once I selected that I had paid the employee previously and would be paying back taxes on them myself rather than charging those to the employee payroll. The notification wanted me to contact Quickbooks for "special handling". The problem is that the QB staff didn't seem to know what or why it was doing that and in the end basically I just had to bypass that whole question altogether to get the employee in the system and I'll have to figure out the previous taxes come tax time. This was like a 2 week process of asking QB repeatedly about this issue.

The last con is the software's insistence to have me running payroll on the same day as the end of the pay period. I've never worked anywhere that did this and it doesn't make a whole lot of sense considering you don't have the hours for that last day yet. But nonetheless, I cannot find any option to change this and I end up waiting a week later, then running payroll, but the software ends up changing the pay date to the previous pay date after a couple of days, so my records are off. This has been the single most frustrating part of the software and nobody seems to know how to modify this particular aspect of it.

Pros

I like the fact that payroll is integrated, I love the automated reporting (saves me having to remember to send reports), I like that you can upload documents to it, that you can now send in / attach receipts to it, and that you can do quite detailed reporting and drill down on numbers easily, that you can lock the records to stop people going back in and changing anything by mistake, and that reports can be by classes, so you can monitor spending and income by 'class' / project. I like the reporting functionality and the ease of use.

Cons

I'd like the receipt capturing software to be a bit better (its basic at the moment, but I'm sure it'll improve as it was only a feature added this year), I don't like the fact that although my paypal links, (I have multi currency within paypal) and this doesn't seem to reflect well within the software.

Pros

Before I began using QuickBooks, my biggest fear was that we were going to entrust a cloud with our money.

Personally, I was hesitant for a long time and so was my company. But after that, we decided to take a leap of faith and use QuickBooks. We’ve been happily married to this software ever after.

So here is why I like QuickBooks

It’s invoicing feature is amazing. The feature automatically invoices our customers and brilliantly matches the invoices to the customers.

Quickbooks takes payments, bills and compiles reports for everything

And while Quickbooks is doing this, everyone on the accounting team accesses it with ease.

Cons

Quickbooks crashes a lot and limits access to a few number of people. That's why I don't recommend it to big firms.

Pros

QBO has made it so much easier to stay on top of finances for the nonprofit I work with. It's so nice to add bills for reimbursement of expenses to stay on top of when the expense occurred as well as when the reimbursement check was written vs deposited. Automatic linking to my bank account and to paypal is a lifesaver. I don't know what I would do without locations or being able to use classes for fund reporting/functional expenses.

Cons

There was definitely a steep learning curve, and I've just had to accept that some of the transactions I was doing when I first started weren't done in the most 'ideal' way. I'm adding historical finances for 8 years and struggling with handling inventory in particular, since I'm both trying to keep up with current purchases/sales and build the historical financial statements. While the QBO online forum is generally helpful for troubleshooting issues, sometimes I run into features that just aren't available on QBO and only on QuickBooks desktop which is incredibly frustrating when I know how useful it would be.