If you are a small business that has used QuickBooks Online, or thought about using it, it’s worth understanding whether it is suitable for your needs, or if QuickBooks Online Advanced (QBO Advanced) would be the appropriate stepping stone for your business.
What Does a QBO Advanced Customer Look Like?
A typical company for which QBO Advanced makes sense is one that has 10 to 100 employees, a significant amount of transaction lines in QBO (in the hundreds), more users than average, and serves customers who have complex business needs.
Custom User Permissions
Administrators in QBO Advanced can give users specific access to work in areas such as sales transactions, expense transactions, sales reports, expense reports, and bank deposits. What’s even better is that you can custom-create up to 32 different configurations with the permission options.
Batch Import Invoices Tool
When importing a .csv file into QuickBooks, this handy tool allows you to create hundreds of invoice transactions at a time. This is very helpful for companies who process transactions from multiple channels. The .csv file you import can contain up to 1,000 transaction lines.
The smart reporting function in QBO Advanced, which is powered by Fathom, offers in-depth tools that measure and report on important business metrics such as cash flow, and profitability, on a regular basis. Additionally, the smart reporting allows companies to easily compare, rank, and benchmark other companies or clients. Even though supplied by a third party, this function is available at no additional cost.
Features Coming Soon
As of January 2019, QuickBooks states the following features will be coming soon to QBO Advanced: client overview for accountants, additional custom user permissions, enhanced custom fields, and batch invoice creation.