1. QuickBooks Online offers affordable pricing.
Most startups have to work within a tight budget in the early days of operation, so choosing an accounting system with affordable monthly fees is a necessity. You’re free to switch or cancel your subscription at any time, and you won’t need to commit to paying a lump sum upfront.
2. QuickBooks Online includes a wide range of features.
QuickBooks’ bookkeeping features include all the basics most startups need, including income and expense tracking and essential reporting, including your monthly financial statements (profit and loss statement, or P&L, balance sheet, and statement of cash flow). For growing businesses that have more advanced finance needs, you can easily add extra capabilities and features like bill pay (accounts payable), invoicing (accounts receivable), inventory tracking, and sales reporting by upgrading to the QuickBooks Online Pro plan.
3. QuickBooks Online integrates with many other finance tools.
QuickBooks Online integrates with over 650 other business tools—including Bill.com, Expensify, Justworks, PayPal, and Gusto—and automatically syncs all your data, so you can understand the full picture of your startup’s financial health and streamline your month-end close process.
4. QuickBooks Online is easy to use.
Many startups and small businesses alike begin with using QuickBooks Online because of its user experience; QBO is one of the easiest accounting software platforms to implement, and provides users with greater functionality than spreadsheets. The QuickBooks Online interface is user-friendly and intuitive, so even founders with limited finance experience can find the information they need to start carrying out basic bookkeeping. It also offers a variety of templates and sample chart of accounts to help get you started. However, as with any accounting software, you’ll benefit from working with a bookkeeping service as soon as possible to avoid common startup bookkeeping mistakes.
5. QuickBooks Online is popular with bookkeepers, accountants, and finance firms.
When you’re choosing a bookkeeper, accountant, or finance firm to work with your startup, it’s important to know if they have experience with your accounting software. If they aren’t familiar with your chosen platform, you are more likely to end up with errors or missed opportunities in your accounting processes.
6. QuickBooks Online stores your records safely on the cloud.
Rather than being limited to a specific computer on which your accounting software is installed, QuickBooks Online provides access to your financial records from anywhere in the world, making it well-suited for startup teams working remotely or globally. Cloud storage is also a more secure way to keep your accounting records: Even if your computer is damaged or malfunctions, your important data is stored remotely and won’t be impacted.