QuickBooks is a platform used by 80% of small and medium-sized businesses thanks to its comprehensive, user-friendly financial reporting features. It integrates easily with commercial property management software to perform processes including rent and vendor management, which makes it a favorite of property owners. It also simplifies tasks like invoicing, expense tracking, and payroll, all essential for managing multiple properties at once. This article compares the two versions of QuickBooks: Desktop and Online. We’ll look at differences in function, access, and support to help you decide which best fits your specific business needs.
Shared Features between QuickBooks Desktop and QuickBooks Online
QuickBooks Desktop and QuickBooks Online share several core features, including:
- Core Accounting Functions: invoicing and payments, expense tracking, bank reconciliation, and financial reporting
- Payroll Integration: Both offer payroll services (add-on or built-in) to manage employee wages, taxes, and filings.
- Job/Project Tracking: track income and expenses by project or job, useful for industries like construction or real estate.
- Customer & Vendor Management: store detailed customer/vendor profiles, payment history, and contact information.
- Security & Compliance: both meet general accounting standards and include audit trails and role-based permissions.
Different Features between QuickBooks Desktop and QuickBooks Online
Differences to consider when deciding between QuickBooks Desktop and QuickBooks Online include:
Access:
- QuickBooks Online: accessible from any device connected to the internet.
- QuickBooks Desktop: access is limited to a single device where it was installed, though remote programs like RightWorks or Ace may expand options.
Pricing
- Online: Subscription-based with monthly fees.
- Desktop: One-time purchase or annual subscription.
Features
- Online: Simpler interface ideal for basic to moderate accounting needs.
- Desktop: Well-suited to very complex or specific accounting needs.
Automation & Integrations
- Online: Increased automation of repetitive tasks and integration with 750+ third-party apps.
- Desktop: Fewer integrations and automation, though the QuickBooks Web Connector program allows it to interact with the internet.
Collaboration
- Online: Easy to set up multiple users for collaboration; work from anywhere on any device.
- Desktop: Multi-user setup requires a shared network and additional costs, only one person can access the system at a time.
Backups & Updates
- Online: Automatic backups and updates.
- Desktop: Manual backups and periodic updates requiring additional processes and fees.
Visit Intuit’s comparison page for a more detailed breakdown of the differences between QuickBooks Desktop and Online.
STRATAFOLIO Integrates Smoothly with QuickBooks for Increased Automation and Productivity
To take your commercial real estate business to the next level, consider integrating QuickBooks with STRATAFOLIO. This deep two-way integration automates and assists with routine tasks, giving you more time and preparation to focus on running your business.
Software Designed to Work for You
Uniquely, STRATAFOLIO integrates with both QuickBooks Online and QuickBooks Desktop, helping fit what works best for your business. In either case, integration gives you access to features that assist in tracking data, accounting, and managing real estate operations more efficiently.
STRATAFOLIO bridges the gap by syncing critical financial and commercial property management operational data. Real-time insights and centralized dashboards empower real estate owners and property managers to make smarter, faster decisions. The flexibility to work with either version of QuickBooks means your accounting system accommodates your business growth.
Visibility and Clarity in QuickBooks
In addition to an organized workspace that makes it easy to find specific properties, expenses, reports, and more, take advantage of provided notifications that ensure you never miss a deadline or an opportunity. Paired with QuickBooks, STRATAFOLIO keeps track of lease escalations, rent and renewal dates, and reports to save you time and brainpower. At the same time, instant notifications keep you up-to-date on critical details. Each platform also has an experienced team ready to help you learn to be an expert in use and navigation, so you’re always prepared to make smart decisions and jump on growth opportunities.
Functional Growth with Automation
As your business grows, so do your tasks. Trying to keep up with manually entering important financial information can be a recipe for disaster, as more properties mean more detail, more complexity, and more room for manual error. Automating routine processes (including common area maintenance reconciliation) allows you to take care of these tedious but necessary steps quickly and accurately every time. QuickBooks Online is at the forefront of innovation in automation. By pairing it with STRATAFOLIO, you will always have access to the fastest and most productive workflows and shortcuts.
Support for Collaboration across Teams
With QuickBooks Online, multiple people can view and manage your data together. Instead of waiting for a single person to retrieve critical information, people across teams can see, discuss, and analyze everything with zero delay. Giving everyone access to the latest financial data significantly boosts productivity and efficiency. It also prepares your business to tackle challenges and turn them into opportunities for growth. STRATAFOLIO does not limit the number of users in the system either. Many of our clients invite their tax accountants into the system to streamline activities at tax time.
QuickBooks Online and QuickBooks Desktop integrate with STRATAFOLIO’s automation and notification systems for better communication and decision-making within your team. Additionally, access the system from the office, on-site, or remotely with the mobile app.
Use STRATAFOLIO for a QuickBooks discount.
Start Integrating with QuickBooks Using STRATAFOLIO
Streamline your workflows and ensure accurate, easy-to-access results using STRATAFOLIO’s two-way QuickBooks integration. Check out our product demo more information or schedule a 1:1 today.
