QuickBooks Online is not a new player – somewhat of a sleeping giant QBOnline has some 1.3 million users around the globe – approximately double that of Xero. As part of the Intuit family, the online product is using decades of experience as the worlds leading software product for the small business to engineer their cloud offering. In many respects QBOnline is the best of both worlds, able to offer features and functionality popular within the desktop range yet introducing the clever cloud functionality being introduced by Xero.
Most New Zealand businesses attempting to select a an cloud based accounting solution will have no idea what “QBO” as it is referred to might be. Lets start with – been there much longer than Xero, about 1.3 million users (double Xero), the product of choice for cloud accounting in the USA.
Why don’t we know about it in New Zealand ? Only because Intuit, the owners of QuickBooks have not and probably will not, made the effort to specifically market the product in New Zealand. Australia is quite different, Intuit and QBO are very much alive and well in Australia – and indeed in heated competition with Xero and MYOB.
QBO is ‘localised’ for the USA, Canada, Australia, UK, Singapore, France, and Malaysia. The localised versions are specifically designed to speak the local ‘tax language’ and provide location specific enhanced tools for accountants. As New Zealand does not feature in this chosen list, we fall within the ‘Global’ version of QBO. Yes, the global version can deal with New Zealand GST, however, you will not find a specific menu option to produce a GST 101 return. QBO will produce the required information for your NZ GST 101 – but QBO will not present the data in a form that actually resembles a GST 101 form.
QBO is a full feature, entirely cloud based solution providing stock control and job costing functionality. Like most cloud solutions, the functionality within the advanced features is of course limited, however, day to day processing of typical business transactions is rock solid, intuitive and efficient.
It is very important to understand, QBO is an Intuit product and has noting to do with Reckon – the former agents for QuickBooks products. Intuit and Reckon are now competitors.