It is really difficult to monitor your cash flow in the rapid business environment of today. A dependable accounting software is like a mighty sword that separates the small startup from the rest of the growing business and makes all the difference. One of such software is QuickBooks Online Advanced (QBO Advanced) that equates all your accounting chores to data handling and even acquaints you with the data that can propel the business forward.
In this article, we’ll explore QuickBooks Online Advanced, a powerful feature of the QuickBooks Tool Hub, how it works, and how you can use it to resolve common QuickBooks issues quickly and easily.
What is QuickBooks Online Advanced?
QuickBooks Online Advanced is the enhanced version of the widely used QuickBooks Online accounting software. It mainly targets companies that are bigger than small businesses and with facilities, which are more powerful than those provided by the standard QuickBooks Online plans. The users of QBO Advanced are able to control their money matters in an efficient manner by having more choices in reporting, automation, and customization. It is basically a QuickBooks that have been optimized and that makes the dealing with complicated business finances easier and more systematized.
Top Key Features of QuickBooks Online Advanced
Advanced Reporting & Dashboards
- Custom Dashboards: Build dashboards suitable for you to watch your cash flow, profitability, and revenue streams.
- Performance Center: Find automatically filled out dashboards that offer the performance of your business at a glance.
- Custom Chart Builder: Visualize the progress of specific business KPIs such as accounts receivable and payable categories through your chart.
Automated Workflows
- Task Automation: Remind transactions that are supposed to be done through due dates such as invoices, payments, or deposits.
- Approval Flows: According to the pre-set approval workflows, invoices are sent to certain steps to be approved.
- Customer Notifications: The customers are automatically notified of their payments.
Customization & User Roles
- Custom Fields: You can personalize the data that you want to track with 48 custom fields for different categories like vendors, purchase orders, and expenses.
- User Permissions: You can increase the security of sensitive data by giving specific access levels to users, thus at the same time, you will be able to improve team productivity.
Mobile Access
- Mobile App: Basically, the mobile app is used for QuickBooks Online Advanced when you are out of the office, so the idea is that you can manage your money wherever you want to be.
- Offline Access: Some data can be accessed, updated, and saved without the internet connection, thus the workflow continues without interruptions.
Premium Support
- Priority Support: The most qualified QuickBooks expert support via phone or chat is always available for you.
- Training Resources: The team’s proficiency improves with the help of the self-paced online QuickBooks training, which costs $3,000 and is freely accessible.
Third-Party Integrations
- Premium Apps: Take advantage of apps like Bill.com and DocuSign that are created for specific functions to get additional features.
Multi-User Access
- User Capacity: There can be up to 25 users in your QuickBooks Online Advanced account that you can work with, thus you can have a big team.
- Collaborative Features: The accountant access to the books for smooth cooperation is invited and employees are assigned specific access to features so that mistakes can be minimized.
Who Should Use QuickBooks Online Advanced?
QuickBooks Online Advanced is not just for basic accounting. It is specially made for companies that require more than basic accounting solutions.
Growing businesses: In case the development of your company has ripened past the basic tools, then you should definitely go with QBO Advanced for managing your finances.
Companies with complex requirements: More detailed and extensive situations like you wanting to have a very detailed report, creating your own workflows, and allowing it so that quite a few members have perfectly specific permissions can all be met by QBO Advanced.
Companies with large teams: In the event that there are many employees in your business who need the QuickBooks account, by using QBO Advanced you can set up custom roles and permissions to make it easier for you to manage the access of users.
Pricing
QuickBooks Online Advanced is the top product in the line, and the cost of it indicates that. In comparison to the regular QuickBooks Online plans, it costs more, however, if a company has the necessary advanced features, the money invested can bring back in the form of time saved and improved financial management. The price is based on the number of users and the requirements of your business, so the most current information is available on the QuickBooks website.
Conclusion
QuickBooks Online Advanced is an incredible tool for companies that need to have a more detailed and sophisticated accounting solution, that also be scalable and automated. But the extra cost and sometimes the difficulty in reaching customer support may be factors that influence a decision by some people. If your business is expanding and you require an all-inclusive accounting solution, then the Advanced plan may be the right decision.
