If you’re looking for some more flexibility in your operations, you may be thinking about whether to convert QuickBooks Desktop to Online. But maybe you’re not even sure whether it’s possible, or if it is, how to go about it? We’ll take you through the steps.
Is it possible to convert QuickBooks Desktop to Online?
The first question you have may be whether it is possible to transition from QuickBooks Desktop (QBD) to QuickBooks Online (QBO). Follow these steps to find out:
Look at Total Targets
Press F2 to bring up Product Information
Check the Total Targets number
If the Total Targets is greater than 350,000, the company will not be able to migrate to Online
A screenshot that shows “Total Targets” under product information.
If you are close to 350,000 and have been thinking about making the switch, do it now. You will not be able to do so after you hit that mark.
Look at Inventory
If Targets are not an issue, the next area to consider is inventory. QuickBooks Desktop uses an Average Costing method to track inventory. QuickBooks Online, on the other hand, uses first-in, first-out (FIFO). If you prefer the Average Costing method, staying with QBD would be the ideal option. Also, QBO inventory tracking compared to the advanced inventory tracking in the QBD Enterprise edition is rather simplistic. Larger manufacturing businesses with work in process and assemblies find that QBD has the more robust capabilities to make it the preferred software.
Additional considerations before you make the switch
If your business has minimal to no inventory to track and you know you should be able to convert QuickBooks Desktop to Online, answer the following questions:
Do I want to be able to access my accounting software easily from home or while on vacation?
QuickBooks Online provides owners and other users the ability to access their books from any computer. Users can also access QBO via mobile using the QuickBooks app. The app makes sending receipts, receiving payments, and checking financial information a breeze.
Do I want to be free from upgrades and saving backups?
QuickBooks Online is constantly being upgraded seamlessly. Your data is always stored at the same level of security used by banks and other financial institutions. You don’t need to worry about saving QuickBooks data when you use Online. Automatic backups are performed nightly behind the scenes. No need for additional backups or updates.
Do I need QuickBooks to work with other apps or integrations?
QuickBooks Online has the capability to integrate with other applications. These integrations can help you manage expenses, review, approve and pay bills, perform cash flow forecasting, and conduct various other automated processes. The online integrations allow for the activity to be easily accessible and manageable in real-time, which means you can stay organized and on top of your business.
In the end, QuickBooks Online takes advantage of technology to be more fluent between business and everyday life in a meaningful and user-friendly way. The interactive nature of QuickBooks Online with the many tools available to support business growth allows your company to thrive.