Deciding if QuickBooks Online is right for your business
It’s important to make sure that moving your business to QBO is the right thing to do. While QuickBooks Online is ideal for many businesses, if one or more of the following is true about your business, you may want to reconsider:
- Multiple businesses: If you have more than one business to manage, you need to know that you will need to purchase a separate QBO subscription plan for each business that has its own federal tax identification number. For example, let’s say I have a tax preparation business and I have a few luxury properties that I rent on Airbnb. These are two separate businesses, which means I would need to purchase two QBO plans. The good news is you can easily create a new QBO account within an existing account and simply toggle between the two as opposed to having two separate logins.
- Comprehensive inventory accounting requirements: If your business manufactures products that require...