Quickbooks Online In Comparisons to TurboTax
Inquiring minds may ask what is the difference between QuickBooks Online and TurboTax? QuickBooks Online is a web-based platform businesses use for their bookkeeping and accounting. A business that uses QuickBooks Online has all of its financial data at its fingertips in QuickBooks Online.
QuickBooks Online offers interactive features that allow users to track their accounts receivable and accounts payable in real-time. In addition, QuickBooks Online provides its users the ability to print reports with a multitude of customizable options based upon your business’s needs.
QBO is available through several different media sources. You can use QuickBooks with a computer web browser or a cellular phone web browser. In addition, QuickBooks Online offers an app that can be downloaded on your phone or tablet. QuickBooks Online can be used by any size of business, whether you are a small business or a large corporation because there are different usage options based upon the size and needs of your company.
QBO offers their customers different support options, as well, when you have questions and need help. You can receive support either by a call to QuickBooks or by checking into their online chat feature. If you are not interested in speaking with someone either by phone or chat, you can also access their knowledge base, where there are many different topics to choose from.
On the contrary, TurboTax is not an accounting software. You can use TurboTax to assist you in filing your federal and state income tax for your business or yourself so long as you provide the proper information to TurboTax. TurboTax is not designed to do the accounting for you. Instead, TurboTax offers a step-by-step guide to help you navigate the tax preparation process.
TurboTax is available to purchase, but it is not a web-based platform like QuickBooks Online. It is available for cellular phones on the Android and iPhone operating systems. TurboTax is not designed to be used by large businesses or corporations. It was designed for small and mid-size companies.
If you run into a question while using TurboTax, you do not have as many options for support as you do with QuickBooks. With TurboTax, you only have the option of chatting online with a TurboTax representative.
Also, with TurboTax, you have preparation guides and tax reports at your fingertips. In addition, TurboTax has the latest up-to-date information on taxes and health care laws.
The same company, Intuit, created both QuickBooks Online and TurboTax. With that being said, a user can import data from QuickBooks Online into TurboTax without having to hand enter the information. By importing, you are reducing the time spent keying in information and reducing the possible risk of hand keying errors.
To summarize the comparison, QBO is an excellent tool to use on a regular basis to keep track of your business’s day-to-day and monthly accounting needs. Contrariwise, TurboTax is an excellent tool to use when you need to file your taxes each year for your business.
