Tips for QuickBooks Pro and Premier Users Moving to QuickBooks Online

QuickBooks Pro and Premier will be sunsetted for new users by July 31, 2024, and many businesses are considering QuickBooks Online as a scalable alternative. QuickBooks Online brings the advantage of cloud-based accounting, allowing you to manage your books and finances anytime and anywhere. This transition can be seamless with careful planning and a solid understanding of the unique features and functionalities of QuickBooks Online. 

In this article, we will share some practical tips to help QuickBooks Pro and Premier users make a smooth transition to QuickBooks Online and how to get the most out of the cloud-based version. 

Understand the Cloud-Based Nature of QuickBooks Online

QuickBooks Online operates in the cloud, unlike QuickBooks Desktop which runs only on the computer where it is installed. With cloud-based accessibility, you can access and work on your financial data from any device with an internet connection. This eliminates the constraints of a desktop environment and allows for real-time collaboration among your team members. 

Also, since QuickBooks Online is cloud-based, it’s extremely easy to invite an accountant to access your books. You only need to send an email invitation, and from there, they will be able to easily set up their account and start working on your files. 

Discover the benefits of QuickBooks Online cloud accounting.

Know Which QuickBooks Online Plan Is Right for You

You can choose from four QuickBooks Online subscription plans: Simple Start, Essentials, Plus, and Advanced. These plans vary in features and users included so you have to determine what specific features you need and how many users will need access to your accounting software.

Simple Start supports a single user, and it is sufficient for businesses that need basic income and expense tracking and invoicing. The Essentials plan is great for up to three users, and it has additional features, like time tracking for billable hours. If you need inventory management, bill tracking, and project accounting, then you’ll need Plus, which accommodates up to five users. 

If you want to get the full benefits of QuickBooks Online, including enhanced user capacity (up to 25 users), more customizable workflows, and additional features like fixed asset manager and Priority Circle Membership for premium customer support, you’ll appreciate QuickBooks Online Advanced. 

Fixed asset accounting in QuickBooks Online Advanced

Learn when you should switch to QuickBooks Online Advanced.

Plan for Data Migration

Data migration is a crucial step when transitioning from QuickBooks Premier to QuickBooks Online. Ensure a smooth transition by carefully planning and executing the migration of your financial data. QuickBooks Online provides tools and resources to assist with this process, and it’s recommended to follow the step-by-step instructions to avoid data discrepancies. However, you don’t have to do it yourself. If you purchase QuickBooks from an elite reseller, you’ll be assisted by a team of experts to handle the migration for you. 

Explore New Features in QuickBooks Online

QuickBooks Online continuously introduces new features and functionalities that can help you further streamline your workflows. For instance, QuickBooks Online Advanced has new features, including project estimate vs actual reporting, new invoicing and estimate experience, and revenue recognition. Additionally, another notable new feature in QuickBooks Online is QuickBooks Bill Pay, an enhanced feature to streamline your accounts payable workflows. 

Leverage Customization Options

QuickBooks Online offers a range of customization options to tailor the platform to your specific business needs. Customize forms, reports, and charts of accounts to align with your business requirements. This flexibility allows you to create a personalized accounting environment that suits the unique aspects of your organization.

For instance, QuickBooks Online lets you create more professional-looking and customizable invoices than QuickBooks Desktop. You can personalize your invoice by adding your company logo, changing invoice templates, adjusting the invoice color, and adding personalized messages to your customers. 

Implement User Permissions

QuickBooks Online allows users to set specific permissions for team members, restricting access to sensitive financial data. Take advantage of this feature to enhance security and control within your organization. Assign roles and permissions based on the responsibilities of each team member to ensure data integrity and confidentiality. 

Learn how to set up and use user roles and permissions in QuickBooks Online Advanced. 

Explore QuickBooks Online’s Vast Integration Options

QuickBooks Online integrates seamlessly with a wide range of third-party applications that can enhance its functionality.  Explore the QuickBooks App Store to find apps that align with your business needs, whether it’s project management, inventory control, or e-commerce. These integrations can streamline processes and provide additional tools to optimize business operations.

QuickBooks Online has vast integration options

Wrap Up

By understanding the unique features of QuickBooks Online, knowing which plan is suitable for your needs, and implementing the other tips outlined in this article, you can seamlessly transition from Pro or Premier to QuickBooks Online.