Time-saving and streamlined accounting software offer many advantages for construction companies concerned about their bottom-line.
Having the right software that caters to the unique accounting and bookkeeping needs of a construction company is essential to its success. Especially in managing processes specific to the construction industry and its monetary governance.
Software such as QuickBooks Online provides accounting and bookkeeping solutions that allow businesses to effectively manage cash flow, track expenses, and create invoices.
But what version is right for your business? To help you decide, listed below are some key features to consider when it comes to quickbooks online plus vs advanced.
Number Of Users
The first feature a 24hr bookkeeper should consider is the number of users.
QuickBooks Online Plus is more suitable for SMEs not exceeding more than five users. While QuickBooks Online Advanced caters to much larger organizations with around 25 users.
So the right QBO for you highly depends on your company’s size and the number of accounting staff that needs access to your accounts.
As expected, the QBO Advanced ($150 a month) is much pricier than the QBO Online Plus ($70 a month) because of all its bookkeeping bells and whistles.
While the price may seem steep, reliable and secure accounting and bookkeeping software is going to be more cost-efficient for construction companies in the long-term.
Just keep in mind that it’s not better simply because it’s more expensive. Consider your company’s size, needs, and future growth when choosing between the two QBOs.
QuickBooks Online Plus Vs Advanced Features
Both QBO Plus and Advanced share many similar features, such as:
- Double-entry accounting
- Integration of third-party applications that aid in accounting tasks
- Gives access to full inventory tracking
- Allows setting up of product inventory and receive notifications if you’re running low on stock
- Report segmentation.
- Importing significant reports and databases from excel formats
- Backing up data and files online mechanically fast.
- Reliable, safe, and secure certificate features and measures.
- A handy yet convenient phone and tablet friendly tool.
- Carry duple and more monetary system or medium of exchanges
- Can bodily process its users’ grounds stock lists
- Formulates monetary fund computations, profits, and spending, and tracks gross revenue
However, there are features that are only available for the pricier QBO Advanced. Such as:
- The new smart reporting feature driven by Fathom which helps you track your key performance indicators each month.
- Customizable user permission
- Better customer service.
- Access to online courses and free training of instruction credits and acknowledgment to train your entire squad/groups or co-workers up to five classes.
- Five times more users can access compared to QuickBooks Online Plus.
So if your construction business doesn’t have any use for these features, stick to QuickBooks Online Plus instead.
Construction Industry Specific Features
Construction companies regardless of size should not try managing their bookkeeping and accounting processes manually and traditionally.
By using QBO Plus and QBO Advanced, Construction Accounts Specialists can maximize the software’s third party application integration. This allows them to integrate QBO with project managing applications such as Knowify.
Similarly, project management data can also be seamlessly imported to QBO with little or no manual data entry from one system to another.
QBO is useful in construction processes such as estimation, materials invoicing and billing, and payroll.
Mobile App Support
Whether you’re on site or in your office, the QBO mobile app helps you manage your books on your mobile device.
The mobile app is designed for touch contact and basic on-the-go usability, so you can get the job done on-the-go.
QBO mobile apps come free along with a subscription. So make sure to take advantage of the mobility and flexibility it offers.
Both the QBO Plus and QBO Advanced mobile app allows you to do the following;
- Snap pictures on customer signatures as reflected on invoices and estimates.
- Get paid much faster via electronic payments.
- Capture photos of receipt and categorize expenses ready for tax time.
- Reconcile transactions utilizing intelligent categorization.
- Sending professional-looking invoices and estimates on point.
- Real time access to reports.
A reliable, safe, and scalable accounting and bookkeeping software is necessary for the success of any-size construction company.
The accounting and bookkeeping solutions offered by QuickBooks products are essential for the specific needs of the construction industry.
So while both products offer a ton of features, when it comes to QuickBooks Online Plus Vs Advanced your choice should be guided by number of users who need access to your accounts, pricing, and features that address your company’s current need.