QuickBooks Online vs. QuickBooks Desktop

Name: QuickBooks Online vs. QuickBooks Desktop
Rating: 3.8 (251 reviews)

Mastering QuickBooks: A Comparative Guide to Online and Desktop Versions - Navigate, Transact, Reconcile & Beyond

Created byRobert (Bob) Steele

Last updated 10/2024

English

What you'll learn

Identify the unique features of both QuickBooks Online and QuickBooks Desktop, understanding their key differences.
Examine the context in which one version might be preferred over the other, depending on specific accounting needs.
Master the navigation of both QuickBooks Online and Desktop, getting acquainted with their respective interfaces and features.
Analyze transactions using a transactional analysis approach, categorizing them into vendor, customer, and employee accounting cycles for both versions.
Study each cycle's data input forms in both versions, comprehending their impact on financial statements and related reports.
Establish a new company file in both QuickBooks Online and Desktop, mastering foundational components like the chart of accounts, service items, revenue items,
Execute common transactions over a span of two months in both versions, understanding the different workflows and their impacts on financial statements and repo
Conduct bank reconciliations in both versions, grasping the procedures using sample bank statements and understanding the integration of bank feeds.
Apply bank rules efficiently for effective incorporation of banking transactions into both QuickBooks Online and Desktop.
Generate and apply adjusting entries at the month or year-end in both versions, aligning financial statement reports to their accounting basis.
Discover various accounting bases such as accrual, cash, or tax basis and how they are managed in QuickBooks Online and Desktop.
Contrast the pros and cons of QuickBooks Online vs QuickBooks Desktop, justifying the choice of accounting software for specific tasks based on their functional
Develop a comprehensive skill set to expertly navigate and utilize both QuickBooks Online and QuickBooks Desktop for a variety of accounting tasks and scenarios
Integrate the knowledge acquired to choose the right version of QuickBooks (Online or Desktop) to optimize usage in real-world accounting scenarios.
Reflect on the benefits and limitations of each version, contributing to a more informed decision-making process in choosing between QuickBooks Online and Deskt
Demonstrate proficiency in both QuickBooks Online and QuickBooks Desktop by resolving complex accounting problems using the respective software.

Course content

68 sections • 409 lectures • 145h 56m total length

1005 How to Access the Software17:06
1011 QuickBooks Online vs QuickBooks Desktop31:00
1013 Increase Screen Size, Duplicate Tabs, & Open Multiple Browsers17:40
1015 Navigation Overview29:08
1017 Bank Feeds & Your Accounting System22:54
1080 Accounting Process & Forms Overview22:40
Explore QuickBooks Online accounting process from setup, chart of accounts, and products and services to the customer, vendor, and employee cycles. See how forms drive financial statements and internal reporting.

Documents to Download
1009 QuickBooks Desktop Options14:52
1010 How To Download the Software8:48
Download and install QuickBooks Desktop 2023 from Intuit, exploring free trial, purchase, and upgrade paths from 2022, and learn how to open multiple company files with a desktop subscription.
1012 30 Day Free Trial or Purchase Process & Download from Intuit Website5:33
1015 Install QuickBooks Pro Plus Desktop8:49
Install QuickBooks Pro Plus Desktop 2023 using the InstallShield wizard, enter license codes, and upgrade from 2022 while managing data, company files, and backup files.
1017 Increase Display Size4:19

1140 Vendors Section15:39
1160 Vendor Center15:47
1180 Bill Form22:39
1200 Pay Bills Form Check17:42
Master pay bills and bill forms in QuickBooks Desktop 2023, tracking accounts payable and vendor payments. Use balance sheet and income statement reports to analyze bills and payables.
1220 Purchase Order Form - P.O.16:49
1222 Bill With Inventory Connected to P.O.17:02
1227 Inventory Adjustment12:33
1240 Manage Sales Tax13:07
1260 Check Form15:11
1280 Void Check Prior Period18:25

1140 Vendor, Expense, Purchases, Pay, or AP Cycle19:53
1160 Vendor Expense, Purchases, or Pay Center22:29
Navigate the vendor cycle in QuickBooks Online, exploring the vendor center, expenses, bills, and pay bills, and learn how vendor data and accounts payable affect financial statements.
1180 Bills Form28:51
1200 Pay Bills Form25:44
1220 Purchase Order Form - P.O.27:23
1240 Manage Sales Tax Form29:53
1260 Check & Expense Form37:43
Master QuickBooks online 2024 check and expense forms, bank feeds, and the vendor cycle. Compare accrual and cash-based methods, and learn bills, paying bills, and bank reconciliation.
1280 Void Check Prior Period Adjustment25:21

1300 Customer Section Customer Cycle16:49
1320 Customer Center14:12
1340 Invoice Form23:00
Explains the QuickBooks Desktop 2023 invoice form, detailing customers, items, terms, and sales tax, and shows posting to accounts receivable, inventory, and cost of goods sold.
1360 Receive Payment Form20:28
Explore how QuickBooks Desktop 2023 handles receiving payments: linking payments to invoices, reducing accounts receivable, and using undeposited funds or deposits to align with balance sheet and P&L reports.
1380 Deposit Form16:26
1400 Sales Receipts Form24:19
Learn how QuickBooks Desktop 2023 uses sales receipts, undeposited funds, and deposits for cash-based transactions, and how it differs from invoices, accounts receivable, and bank reconciliation.
1405 Barter Sale Transaction23:04
1420 Credit Memo Refund Form & Bad Debt Expense24:28
Learn to create and reverse credit memos in QuickBooks Desktop 2023, manage refunds and bad debt expense, and trace impacts on accounts receivable, inventory, and sales tax payable.
1423 Statement Charges9:39
1426 Finance Charges13:00
1429 Statements14:26
1433 Estimate14:09

1300 Customer, Accounts Receivable, or Revenue Cycle14:26
1320 Customer, Accounts Receivable, or Sales Center19:23
1340 Invoice Form26:44
1360 Receive Payment Form33:55
1380 Deposit Form24:19
1400 Sales Receipts Form27:05
1405 Barter Sale Transaction28:13
Learn to record barter transactions in QuickBooks Online using a barter clearing account, preserving AR, AP, and P&L while handling customer and vendor cycles.
1420 Credit Memo Bad Debt Sales Returns36:34
1422 Refund Receipt Form27:39
1425 Delayed Credit35:07
1427 Estimate16:48

1480 Employee Section Payroll Process15:38
1500 Employee Center18:41
Set up and process payroll in QuickBooks Desktop 2023 using the employee center and payroll center, managing time sheets, withholdings, liabilities, and forms such as 941, 940, W-2s, and W-3s.
1520 Pay Employees Form27:31
1540 Pay Payroll Liabilities Form12:40
1545 Process Payroll Forms15:55
Learn how QuickBooks desktop 2023 processes payroll forms, manages the payroll cycle and liabilities, and generates summary reports, W-2s, 941 and 940 forms.
1548 Enter Time Form10:55

Requirements

Access to a Computer and Stable Internet: You need a reliable computer and stable internet connection to access course materials and the QuickBooks software. Note that QuickBooks Desktop requires installation on a Windows platform.
Time Commitment: Engaging fully with the course materials and practice exercises will require dedicated time.
Willingness to Learn: This course involves a lot of comparisons and contrasts, so a proactive learning attitude will help maximize your benefits from the course.
Understanding of Basic Computer Operations: Basic knowledge of using a computer and internet browsing will be helpful as you navigate through the course and the software.

Description

This comprehensive course is designed to guide you through a comparative study of QuickBooks Online vs QuickBooks Desktop, providing you with a robust understanding of both platforms.

The course begins by introducing you to both QuickBooks Online and QuickBooks Desktop, explaining their unique features, their differences, and the context in which one might be preferred over the other. Each segment is designed to offer a side-by-side exploration of the two versions, providing you with a complete picture of their functionalities.

As we delve into the intricacies of the platforms, you will understand how to navigate both the QuickBooks Online and Desktop versions. You'll also identify the relationship between data input and the resultant financial statements and related reports in both versions.

We utilize a transactional analysis approach, categorizing transactions into accounting cycles: the vendor cycle, customer cycle, and employee cycle. This way, you can examine each cycle's data input forms and their impact on financial statements and related reports in both QuickBooks Online and Desktop.

Setting up a new company file is a crucial learning step, so we demonstrate how to master foundational accounting system components like the chart of accounts, service items, revenue items, and starting balances in both versions.

We guide you through entering a variety of common transactions over two months in both QuickBooks Online and Desktop, helping you understand the different workflows and impacts of each version on financial statements and related reports.

We cover important areas such as bank reconciliations, a critical part of ensuring financial integrity. You'll learn how to reconcile using sample bank statements and understand how to connect to the bank, download and incorporate bank data into the accounting system in both versions.

The course also explores adjusting entries, essential for aligning financial statement reports to their accounting basis at the month or year-end. You'll understand how to handle various accounting bases like accrual, cash, or tax basis in both QuickBooks Online and Desktop.

This course promises a comprehensive, in-depth exploration of QuickBooks Online and Desktop, allowing you to make an informed decision about which software best suits your needs. It's not just about picking one over the other; it's about understanding the potential of both platforms to enhance your accounting efficiency.

Who this course is for:

Current QuickBooks Users: If you're already using either version and are curious about the other, this course will provide a detailed comparison to help you decide if switching might be beneficial.
Accounting Professionals: Whether you're an accountant, bookkeeper, or auditor, this course offers a comprehensive understanding of both versions, helping you better serve clients using either platform.
Business Owners and Entrepreneurs: If you're deciding on which version to use for your business or considering switching, this course will help you understand the strengths and weaknesses of each version.
Accounting and Finance Students: This course will provide practical insights into two of the most popular accounting software platforms, preparing you for various roles in the accounting and finance industry.
Freelancers and Self-Employed Individuals: If you manage your own financials and are unsure which version of QuickBooks is the best fit for your needs, this course can guide you.
Finance Consultants and Advisors: Offering advisory services to businesses often involves understanding the tools they use. This course can enhance your consultancy services by providing a thorough understanding of both QuickBooks Online and Desktop.
Anyone considering QuickBooks for their accounting needs: If you're new to QuickBooks and unsure which version to choose, this course provides a detailed comparison to guide your decision.

QuickBooks Online vs. QuickBooks Desktop

What you'll learn

Explore related topics

Course content

QBO-Getting Started6 lectures • 2hr 20min

QBD-Getting Started-20236 lectures • 42min

QBD-Open Practice File-Review Home Page & Accounting Cycles 20234 lectures • 46min

QBD-Vendor Cycle, Purchases Cycle, or Accounts Payable Cycle 202310 lectures • 2hr 45min

QBO-Vendor, Accounts Payable, Expenses, or Purchases Cycle8 lectures • 3hr 37min

QBD-Customer Cycle, Sales Cycle, or Accounts Receivable Cycle 202312 lectures • 3hr 34min

QBO-Customer Cycle, Sale Cycle, or Accounts Receivable Cycle11 lectures • 4hr 50min

QBD-Other Home Page Items, Shortcuts, & Customizing Shortcuts 20232 lectures • 42min

QBO-Other Important Forms & Functions, Shortcuts, & Employee Cycle8 lectures • 2hr 9min

QBD-Employee Cycle-Payroll Cycle 20236 lectures • 1hr 41min

Requirements

Description

Who this course is for: