Understanding the Difference Between QuickBooks Desktop & QuickBooks Online (2024)

FAQs

Understanding the Difference Between QuickBooks Desktop & QuickBooks Online? ›

QuickBooks Desktop is more traditional accounting software that you download and install on your computer, while QuickBooks Online is cloud-based accounting software you access through the internet.

The main difference between QuickBooks Desktop and Online is that QuickBooks Desktop is desktop-based, while QuickBooks Online, you guessed it, is a cloud-based software. This means that accessing your data with QuickBooks Online is easier and more convenient as all you need is a device with an internet connection.

Going forward, you'll input new data in QuickBooks Online. You'll still keep the QuickBooks Desktop company file with your data, but can only access this data with an active QuickBooks Desktop subscription.

As of May 31, 2023, QuickBooks Desktop for Windows 2020 is being phased out and support is discontinued. Discontinuation affects all versions of QuickBooks Desktop Pro, Premier, and Enterprise Solutions v20.

QuickBooks Online offers integration with more than 500 third party apps in categories such as Payments, CRM, Project Management, Payments, Payroll, Invoicing, Inventory, and Time Tracking. You can easily connect to any third-party app from within the application, saving you a ton of time in the process.

QuickBooks Desktop is best for businesses that are comfortable with accounting and don't need real-time collaboration, and QuickBooks Online is best for businesses that need real-time collaboration and access to their QuickBooks file from any device.

Can you change from QuickBooks Online to QuickBooks Desktop? Yes, you can change from QuickBooks online to QuickBooks desktop, but there is a bit of a process involved. First, you will need to log in to your QuickBooks online account and select the gear icon. Next, choose “Export Data” from the options and continue.

QuickBooks Desktop Pro or Premier

Go to Company, then select Export Company File to QuickBooks Online. Select Start your export. Sign in as an admin to your QuickBooks Online company. Select Choose online company, and choose the QuickBooks Online company you want to replace with your company file.

Will subscriptions automatically stop in June 2023? All QuickBooks Desktop subscription billing stopped on May 31, 2023. QuickBooks Desktop access and support will stop completely on or shortly after June 30, 2023. After that, only support for moving to QuickBooks Online will be available.

Is Intuit getting rid of QuickBooks desktop? ›

Intuit has stated that QuickBooks Desktop is being phased out gradually, and they eventually want to move entirely to QuickBooks Online (QBO).

After May 31, 2023, your QuickBooks Desktop 2020 software will be discontinued. This includes all 2020 versions of QuickBooks Desktop Pro, QuickBooks Desktop Premier, QuickBooks Desktop for Mac, and QuickBooks Enterprise Solutions v20. Other Intuit products are affected by the software discontinuation.

Pricing: QuickBooks Online starts at $30/month, while QuickBooks Desktop pricing starts at $549/year. Integrations: QuickBooks Online supports 650+ integrations, while QuickBooks Desktop is limited to just 250+ integrations.

I got to know that Quickbook is discontinuing add on services and support services in some version of Desktop after May 31, 2023.

QBO doesn't offer the features you need.

This is its own number because this is such a common rejection of the software. As mentioned QBO is not built to handle everything. Construction accounting, job costing, and inventory management are several common limitations. The apps were designed for this purpose.

The QuickBooks 2023 Desktop prices will be: QuickBooks 2023 Desktop Pro Plus $549. QuickBooks 2023 Desktop Mac Plus $549. QuickBooks 2023 Desktop Premier Plus $799.

It's not built to be used by employees who are working remotely. QuickBooks was designed to be used by employees who are in the same office as the company file. This can pose problems for companies who have employees who work remotely or who travel frequently.

The usage limits are 250 chart of accounts in the chart of accounts for QuickBooks Online Simple Start, Essentials, and Plus subscribers. That means if you are at one of the listed subscription levels and exceed 250 accounts in your chart of accounts, your subscription will be suspended.

Which 3 of these items in QuickBooks Desktop do not convert to QuickBooks Online using the conversion tool? ›

There is certain payroll information, that one can't convert using the QuickBooks conversion tool. This includes: paycheck, employee year to date information, payroll item, individual employee wage, etc.

There are four item types: inventory, non-inventory, services, and bundles. These help you categorize the products and services for better tracking.

Common Deciding Factors to convert quickbooks desktop to online. If you search through QuickBooks forums and online communities, you would find people mentioning that it takes only 15-30 minutes to convert files from qbdt to qbo. Then, there will be users mentioning the time taken to be up to 24 hours.

The migration to QuickBooks Online takes about 30 minutes to complete. Make sure to keep QuickBooks Desktop running until the migration is done.

One of the benefits you can reap by converting QuickBooks Desktop to QuickBooks Online is that it is free of cost. Intuit doesn't charge anything for importing data to the online version.

You don't need to worry about saving your QuickBooks data on a flash drive because QuickBooks Online automatically backs your data up with the same level of security used by banks and financial institutions. The security of your data is our first priority.

QuickBooks Online requires each user who has access to a company file to provide a password when logging in. Usernames and passwords do not convert.

If you're in the market to upgrade your QuickBooks Desktop application or maybe even waiting to purchase QuickBooks 2022, it may seem like you can only purchase a subscription plan. However, many are unaware that you can purchase QuickBooks Desktop as a standalone application without having to pay a subscription fee.

Memorized reports/transactions do not migrate from desktop to QBO. If your business is big on either or both of these features, be aware you will have some extra work to recreate them in QBO.

Are all QuickBooks desktop versions being discontinued? ›

Intuit, the developers of the accounting software QuickBooks, recently announced that the 2020 version(s) of QuickBooks Desktop (QBD) will be discontinued on May 31st, 2023.

To view your data after 1 year, you'll have to renew your subscription. Note: As a QuickBooks Desktop user, you still own your data, regardless of subscription status. You can open and edit company files at any time with a compatible license or active subscription.

Starting with the 2022 versions of desktop QuickBooks, you'll pay an annual subscription fee that you'll need to renew every 12 months. If you don't, you won't be able to continue to use the software.

They now only sell QuickBooks Pro and Premier products as Pro Plus and Premier Plus subscriptions in place of one-time purchase licenses. QuickBooks Desktop is no longer available as a one-time purchase. Updated pricing and versions for QuickBooks Desktop and Online as of June 2023 are listed below.

One explanation might be that Intuit was finding it difficult to compete with other accounting software products in the highly competitive Indian market. Many of regional companies offered their software at a cheaper price point than QuickBooks and had offline-line versions of their software.

Once your subscription is cancelled, you'll no longer be able to use or access QuickBooks Desktop. Your company file will remain on your device, but you'll need to re-activate your subscription to be able to open and view it.

Your company has multiple entities or receives revenue in multiple currencies. QuickBooks has serious limitations around its capabilities to handle a growing organization. You have outgrown QBO if you have multiple entities or a have expanded services or products worldwide.

Answer: Intuit has significantly increased the prices for QB Premier 2021. The wholesale pricing has nearly doubled, and we don't expect the prices to go down. The guess is that Intuit would like to make QB Premier a subscription service like they did with QB Enterprise a few years ago.

Do large companies use QuickBooks Online? ›

Do big companies use QuickBooks? No, QuickBooks is typically reserved for small businesses without the need for advanced reporting or accounting. What size company is QuickBooks good for?

Bottom Line

If you don't need the advanced features offered by the Desktop plan, the Online version will save you money. QuickBooks Desktop is a good choice if you need specialized features such as inventory tracking or forecasting, and you don't mind paying more for them.

In conclusion, QuickBooks is not necessarily hard to learn. With some basic accounting knowledge and a bit of practice, you can become proficient in using the software. There are also many resources available online that can help you learn QuickBooks quickly and efficiently.

As of May 31, 2023, QuickBooks Desktop for Windows 2020 is being phased out and support is discontinued. Discontinuation affects all versions of QuickBooks Desktop Pro, Premier, and Enterprise Solutions v20.

QuickBooks Simple Start is the easiest and quickest way for single users (freelancers, gig workers, solo entrepreneurs) to manage all of their income and expenses in one simple tool.

QuickBooks Online is a good option for many small businesses that are looking to make invoicing customers easy and integrate invoicing and payments into the general ledger. Small businesses can customize how they use the platform so that they only use the features they need.

QuickBooks allows you to track expenses, income, inventory, payroll and more. It also offers advanced features like invoicing and payment processing capabilities so that you can run your business from anywhere in the world!

No. QuickBooks Desktop and QuickBooks Online are separate platforms that do not sync with each other.

There is certain payroll information, that one can't convert using the QuickBooks conversion tool. This includes: paycheck, employee year to date information, payroll item, individual employee wage, etc.

What is the most basic form of QuickBooks? ›

QuickBooks Simple Start is the easiest and quickest way for single users (freelancers, gig workers, solo entrepreneurs) to manage all of their income and expenses in one simple tool.

QuickBooks Online can be accessed anywhere you have an internet connection, and because it's web-based, you can work with your accountant in real time. The QuickBooks mobile app is also available for free and lets you manage your account on the go.

QuickBooks Desktop products are offered on an annual subscription basis. Unlike QuickBooks Online plans, which each come with a set number of users, QuickBooks Desktop plans come with one user license. Business owners must pay extra for each additional license, regardless of plan.

When you exclude a transaction, it doesn't appear in any account registers or financial reports. Depending on the type of transaction, this may make it easier or harder for you to reconcile an account.

Yes, you can change from QuickBooks online to QuickBooks desktop, but there is a bit of a process involved. First, you will need to log in to your QuickBooks online account and select the gear icon. Next, choose “Export Data” from the options and continue.

Can I import these? QuickBooks Online can't import currency details from a contact list. If your version of QuickBooks Online supports multicurrency, your home currency is assigned to all customers and vendors by default.