Waleed Rafique

Cloud Accounting With QuickBooks

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QuickBooks is an accounting software that assists in organizing financial data. Tasks such as invoicing, bookkeeping, billing and reporting financial data are made more efficient and easy. QuickBooks is now offering cloud based accounting services. This will assist in the management of your online accounting activities, it makes the sharing of data easy, secure, back-up available and always keep current. An internet connection is required for any activity with the online services. This tutorial covers how to sign up and get started with intuit cloud QuickBooks service. Click here to go to the homepage.

Click on the “Start Now for Free” to sign up for an account and get access to the online QuickBooks services. Clicking on the button opens a page where you choose the plan you prefer to use. Three plans are available; the QuickBooks Simple Start, the QuickBooks Essentials and the QuickBooks Plus. A 30 days trial period is available for each plan. For paid subscription, credit card information is required for billing.

I will sign up for the QuickBooks Simple Start which offers me creating invoices and estimates, downloading of bank transactions and mobile data access. This plan costs $12.95 per month. No credit card is required for the registration. I will sign up for the free 30 days trial.

One is then requested to add payroll service to the plan at a cost of $31.20 per month. I choose not to enroll for the service.

A page opens where you enter your credentials. A valid email address is required for this process. Use a user ID and password that you can remember as these will be required while signing in to your account. Click on get started to create the account.

A login page opens. You are to enter valid credentials of your account.

Then loads the online QuickBooks application. From the Home tab, there is a To Do List to get your account optimized. One of the task is linking to your account with a credit card. Also offers tutorials on how to get started and getting around your QuickBooks.

The Company tab enables to access the Chart of Accounts, Sales Tax, Preferences, Activity Log, Manage Users, Lists, Import QuickBooks Desktop Data, Import Data and Export Data.

The Customers tab enables to access Customer Center, Sales Receipt, Income List, Invoice, Receive Payment, Accept Credit Cards, Refund or Credit, Products and Services List and Customization of Printed Forms.

The Vendors tab enables to access Vendor List and Manage Bills.

The Employee tab enables to access Employee list. You can add the payroll add-on service. A free trial is available.

The Banking tab enables to access Write Check, Credit Card Expense, Cash Expense, Deposits, Download Transactions, Registers, Transfers, Reconcile, Journal Entry, Print Checks and Order Checks.

The Reports tab generates accounting summary that may be interesting. This includes Report List, Company Snapshot, Profit & Loss, Balance Sheet, Memorized Reports, Customer Balance Summary, Transactions List by Date and Recent Transactions.

The App Center tab opens a page where you can hook more applications to your QuickBooks application for more functionalities.

The online accounting is most beneficial to business that has many branches and shares some accounting records. It is also beneficial to accounting staffs who do a lot of travelling and thus have access to the accounting records anywhere they are. Online accounting offers security to data more efficiently than traditional software. The companies offering online accounting services may have better security policies of data than most organization’s ‘in-house’ system.

Cloud accounting service is offered by many providers. Among the top rated are Intacct and xero.

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  • JenniferHSimmons

    “Sharath, You have shared a valuable perspective. I’d interested to read more about the QuickBooks that you think make up a good test. Your guideline is superb. Yes, QuickBooks is a business accounting software program developed and marketed by Intuit. It is a complete accounting software package which is easy enough for a business owner with. Its awesome feature is Data Sharing system. QuickBooks software lets me my account accesses my data to update and prepare financial information. I think your article can be a Great recipe for success in business.”

  • DavidESartin

    Wow, what a great sharathreddy.com post! This helps me out with a challenge I’ve been facing in my business for a long time. How I will organize my business and how I will access to the Cloud QuickBooks service this article make me sense. I am a very busy business user so it is very difficult for me to go to the bank for any information but access QuickBooks Online from my Internet-connected PC , I can see all of my financial information from any place and any time. So after accessing this service now I am able to manage my accounting activities in the cloud with QuickBooks Online. Thanks for writing this for the community Sharath 🙂

  • JayEEckert

    Over the past couple of years I‘ve moved a lot of my traditional “software” based tasks to the cloud. One area that I have been struggling with is finding a nice cloud based accounting software that cloud completely with QuickBooks. Well after searching and searching and trying out the various companies and options. I have finally come to a conclusion that QuickBooks Online is the most compatible for me. Thanks Sharath for introducing us such a nice and vital software service which service is really great for all business users.

  • JosephEAhart

    I have realized that there are many advantages of Cloud service. Security is my biggest concern. Here are all these advantages and this one big disadvantage is a big one. What will be if the Cloud Server fails?

    • sharathreddy

      What if your local office server fails if you have the Desktop version? Hardware failure is an issue no matter what approach you use. When looking at the Cloud product you need to look at the uptime statistics. Remind that in many cases your Cloud based system is going to be more reliable and have better availability than your office system.

  • SharonWLeary

    Super post Sharath, great results from your overall vision. Multiple User Access is available in Quick-books Online Plus and Essentials. With Quick-books Online Essentials I can set up three additional people, including my accountant, as users so they can access my company data . With Quick-books Online Plus I can set up five additional people, including my accountant. For an additional cost, I can add even more users. Thanks sharathreddy.com for publishing such as a nice post!

  • BlairQJohnson

    Sharath I know there are two version of the QuickBooks. I have no clear idea about this so I don’t understand which one I will use and costs information is also important. Will you explain details about this for me?

    • sharathreddy

      Of course I will. Firstly you need to choose the QuickBooks Online version from the QuickBooks Online website. The Online easy starts software is a limited version for one user and costs $12.95 monthly, as of October 2010. The Essentials version is a little more advanced with three users allows and costs $24.95 monthly. The Plus version is for five users and handles more advanced functions like tracking inventory and creating purchase orders. It costs $ 39.95 monthly as of October 2010. I think this information will help you.

  • CarlosCPerkins

    I am a new user so I need help which version I will purchase and why?

    • sharathreddy

      As a new learner and new user I will recommend you to purchase the version that serves you needs best. Click on the “Try it Free” button underneath the version you want and follow the prompts to enter your company contact data and payment information. The first 30 days are free any version. If you already have QuickBooks software installed on your PC, using the third party option or online version might be financially reasonable for you. As a first purchase of QuickBooks software I will advise you to the Premier accountant edition because first time purchases, the price difference between Premier Accountant and the Premier edition is, as of October 2010 only about $30 at $429.

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    • sharathreddy

      I understand a lot of heavy project as an English major but SEO is a whole new and nice world. It’s great to know others are in the same boat:-) sharathreddy.com is a pretty and awesome resource. I am sure you will find the site beyond helpful

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