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For 2020 copies, Quickbooks Online Vs Desktop 2020 ends in May 2023, and for 2019 copies support has already ended, according to QuickBooks. Learn how to create a credit memo and apply it to an invoice in QuickBooks Online. In this post I’ll show you how to generate the Profit & Loss report in both QuickBooks Desktop and QuickBooks Online.

• To access QuickBooks Desktop, on the other hand, you need to use the PC where you have the software installed.
• Users can access features via the vertical menu to the left of the screen or by using the drop-down menu bar at the top, and the My Shortcuts option allows you to add a shortcut to frequently used features.
• This option works well for accessing your data remotely from different locations or for bookkeepers sharing access with clients — one at a time.
• This feature is a great way for contractors to see whether they are making money on a project and manage their budget better.
• Her work has been featured on SCORE.org, G2, and Fairygodboss, among others.
• These are important features for an accountant, which are available with the hosted QuickBooks Desktop.

QuickBooks Online has continued to add new features and functionalities over the years to build a respectable platform for use when system basics are best. Its prominence also stems from its inclusion of tools its competitors lack, such as integrated advanced time tracking. QuickBooks Online is a subscription-based software with a monthly fee.

Generating reports in QBO

QuickBooks Payroll allows you to pay your employees by checks or direct deposits, e-file and e-pay taxes, print and e-File W-2 Forms at year-end, and more. If you’re interested in QuickBooks Online, you should check out our QuickBooks Online versions comparison to help you decide which is best for you. If you prefer QuickBooks Desktop, read our comparison of QuickBooks Desktop products to help you pick the right solution. QuickBooks Desktop offers good integration options, integrating with more than 200 third party applications, making it one of the better integrated desktop application options.

QuickBooks Online provides up to 80 reports which may vary with the selected plan, meanwhile QuickBooks Desktop pro offers 130 reports. If you purchased a license of QuickBooks Desktop enterprise and QuickBooks Desktop Premier you can opt for more reports. The basic reports like a profit and loss report, a balance sheet, or cash flow statements you can find in both QuickBooks Online and QuickBooks Desktop.

QuickBooks Online vs. Desktop

We support hundreds of third party integrations, including Bill.com and Salesforce. However, many are unaware that you can purchase QuickBooks Desktop as a standalone application without having to pay a subscription fee. Intuit actually has authorized resellers through their QuickBooks Solution Provider program. A reseller who participates in the QuickBooks Solution Provider program can not only sell Intuit products directly to clients but they are also QuickBooks ecosystem experts.

Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. Inventory management New Grow your product-based business with an all-in-one-platform. Inventory management Grow your product-based business with an all-in-one-platform. Ultimately, your specific business’s size, type, and needs are the real deciding factors. Read our full QuickBooks OnlineandQuickBooks Pro reviews for a more in-depth look at each software’s features, pricing, and use cases. Accountants often find QuickBooks Pro and Premier to be more traditional, but you don’t have to be an accountant or professional bookkeeper to learn QuickBooks Online.