First, let’s start with what might you gain by moving to QuickBooks Online:
  • 24/7 cloud based access.
  • No single/Multi user switching.
  • More powerful bank feeds.
  • Easy recurring sales receipt setup.
  • Automatically schedule transactions or reports to be emailed.
  • Mobile app support.
  • Easy collaboration with your accountant.
  • No need for server for multi user mode.
  • PC/Mac agnostic.
  • Access to integrate with third party apps that only connect to QBO.
  • No speed performance issues with large files.
  • Up to 25 users with QBO Plus. (Pro is limited to 3, Premier/Accountant to 5, and Enterprise can do up to 30, but very costly compared to QBO)
  • Cloud based attachments on transactions.
  • Significant price reduction versus QB Enterprise.

 

Visual Comparison of the interfaces:

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What DATA you will lose after converting to QuickBooks Online:
  • All open sales orders and the sales order functionality all together.
  • All purchase orders, however the purchase order feature is available for creating new POs moving forward.
  • Multiple Inventory sites. All inventory resides in a single location.
  • Barcodes and lot/serial numbers is not a feature available in QBO.
  • Manufacturer Part Number (MPN) do not transfer to QBO.
  • Item level custom fields do not transfer to QBO.
  • Unit of Measures, does not transfer to QBO.
  • Item Pictures do not transfer to QBO, but there is an item picture feature available in QBO that you can upload one by one.
  • Inventory assemblies and Bill of Materials are not in QBO. All comes as regular inventory items.
  • Min/Max Levels do not transfer to QBO, but QBO does have a reorder point field that you have to reenter manually.
  • If you have sub-items, parent items comes in as “categories”, but the functionality is identical.
  • Ability to make inventory value adjustments moving forward. QBO only allows quantity adjustments.
  • Pending invoices do not transfer to QBO.
  • Open estimates do not transfer over.
  • If you are using the payroll feature in QB Desktop, YTD payroll information per employee needs to be reentered, together with W4 and Direct deposit information.
  • Your custom PO, Estimate, Sales Receipt, Credit Memo and Invoice templates do not transfer over. You can customize the templates in QBO, but the customization feature are extremely limited.
  • Memorized transactions do not transfer over.
  • Memorized Reports do not transfer over.
  • Header custom fields used in templates do not transfer over.
  • Rep, Ship Via, other field, FOB, Ship Date, Data from transactions do not transfer over.
  • Sales Tax has to be reconfigured.
  • Group items do not transfer.
  • Other charge items transfer over as service items.
  • Discount items and payment items do not transfer.
  • Reconciliation reports. Banks must be re-reconciled (but transactions already transfer as cleared).
  • Recurring charges setup from Intuit Merchant Center.
  • Audit Trail will be lost.
  • Connection to any existing third party app.
  • Items setup as fixed asset items.
  • Price levels.
  • Open Item Receipts will be converted to bills.
  • Unapplied bill payments and unapplied customer payments will change cash basis PNL reports.
  • Existing budgets.
  • Data from customers: Active/Inactive Status, contact, Alt/. contact, customer type, default rep, default price levels, custom fields data, account number, credit limit, job status, start date, projected date, end date, job description, job type, credit card information, multiple shipping addresses.
  • Data from vendors: Active/Inactive Status, contact, Alt/. contact, notes, vendor type, custom fields data, credit limit.
  • Attachments do not transfer to QBO.
  • Inactive/Active status on Items.
  • Historical average cost on Items, will recalculate as FIFO moving forward.
  • Other names list will come in as vendors.
  • Users/Passwords/Permissions do not transfer over.
  • Payroll Items do not transfer over.
  • Un-billed items and time (Billable reimbursable charges)
  • Reminders/Calendar/to do items.
  • Historical cash basis reports (Conversion is verified and adjusted in accrual basis only).  QuickBooks Online can produce cash basis reports, but calculates unapplied payments differently than Desktop
What FEATURES you will lose in QuickBooks Online:
  • QuickBooks Enterprise, Comprehensive user permissions, QBO user permissions are very limited.
  • QuickBooks Enterprise, Multiple Inventory sites. All inventory resides in a single location.
  • QuickBooks Enterprise, Barcodes and lot/serial numbers is not a feature available in QBO.
  • Sales order functionality all together.
  • There is no field for Manufacturer Part Number (MPN), but there is SKU field available.
  • Item level custom fields. And with QuickBooks Enterprise, Drop-down style custom fields
  • Unit of Measures.
  • Inventory assemblies and Bill of Materials are not in QBO.
  • Min/Max Levels.
  • Ability to make inventory value adjustments moving forward. QBO only allows quantity adjustments.
  • Pending invoices is not available in QBO, only estimates.
  • You can customize the templates in QBO, but the customization feature are extremely limited.
  • Pending invoices is not available in QBO.
  • Finance charges
  • Item bundle replaces group items (Similar functionality)
  • Price levels are replaced by Price Rules, but must be configured in QBO.
  • Estimate Vs. Actual reporting.
  • Payroll level job costing.
  • Budget is available in QBO but must be reentered.
  • Separate functionality for item receipts versus bills.
  • Customer type, vendor type and job type.
  • Inventory Center.
  • Sales Order fulfillment center.
  • Back Ups, Period Copies, or Portable files
  • Industry specific reports for construction, manufacturing, wholesale and Non-profit reports.
  • Forecasts.
  • Batch invoicing.
  • Batch invoicing from billable time and expenses.
  • Balance sheet by class report.
  • Copy customer ship to location to purchase order for drop shipment.
  • Batch enter transactions.
  • Batch delete transactions.
  • Commented reports.
  • Ability to consolidate multiple QB Files in a single report.
  • Drop Down custom fields.
  • Margin/Markup calculation per item.
  • Assigning a default class to a name, item or account.
  • Ability to disallow users from creating negative inventory or access to a negative item listing report.
  • Disallow sales to overdue customers.
  • Label printing support.
  • Advanced reporting
  • Comprehensive progress invoicing functionality reports.
  • Custom summary reports.
  • Working with unlimited company files (each company file is its own subscription).
  • Import IIF files.
  • Access to QuickBooks if there is no internet connection.
  • Convert time sheets to a vendor bill.
  • Vehicle mileage tracking

 

Other Resources

 

How to go about a conversion (VIDEO):

If you want to contact us, call 954-414-1524 or hector@garciacpa.com

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