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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

English [Auto],

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
Learn how to access QuickBooks online in 2024, explore free trials, student editions, and test drives, and practice with sandbox company files and a real data set.
1011 QuickBooks Online vs QuickBooks Desktop31:00
Compare QuickBooks online and QuickBooks desktop to understand desktop versus online differences, including inventory tracking, backups, and multi-file use, with practice considerations for learning online.
1013 Increase Screen Size, Duplicate Tabs, & Open Multiple Browsers17:40
Learn QuickBooks online navigation via the test drive, increasing screen size, duplicating tabs, and using multiple browsers; compare online tabs with desktop navigation and manage cookies and sessions.
1015 Navigation Overview29:08
Navigate QuickBooks online 2024, from the dashboard to key reports like the balance sheet and income statement, and to settings, with the customer, vendor, and payroll cycles.
1017 Bank Feeds & Your Accounting System22:54
Explore bank feeds and their role in QuickBooks Online, detailing how deposits, invoices, and bills feed into the accounts and balance sheet while highlighting cash vs accrual considerations.
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
Explore QuickBooks desktop options, comparing Pro, Premier Plus, and Enterprise, and understand features like concurrent users, inventory, reports, payroll, and data backups.
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
Explore how to download, install, and register QuickBooks Desktop 2023 from Intuit, using the 30-day free trial or purchase options, manage data files, and handle Mac version differences.
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
Increase the QuickBooks Desktop 2023 display size by raising Windows display scale to 125% or 150 for clearer presentations. Windows settings control this scaling, not QuickBooks.

1020 Download & Open Sample File13:42
Learn how to download and open a quickbooks desktop 2023 sample file, locate and organize data and backup files, and understand the distinction between data files and company files.
1080 Home Page Overview13:20
Explore QuickBooks desktop 2023 home page overview, open the sample file, and navigate the balance sheet and income statement using data input forms.
1100 Bank Feeds15:12
Learn how bank feeds, data input forms, and double-entry journal entries build the balance sheet and profit and loss (income statement) in QuickBooks Desktop 2023.
1120 Preferences4:10
Explore QuickBooks Desktop 2023 preferences, accessed via edit, comparing my preferences with company preferences, and see categories like accounting, bills, calendar, desktop, finance, general, and sales tax.

1140 Vendors Section15:39
Explore the QuickBooks Desktop 2023 vendor cycle from the vendor center to enter bills and pay bills, linking forms to balance sheet and income statement.
1160 Vendor Center15:47
Explore how to navigate QuickBooks Desktop 2023's vendor center, manage vendors, enter bills and pay bills, and track accounts payable, with references to reports like P&L and balance sheet.
1180 Bill Form22:39
Learn to enter bills in QuickBooks Desktop 2023 using the accrual basis to manage accounts payable, vendors, expenses or inventory items, and pay bills with AP reports.
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
Explore how QuickBooks Desktop 2023 uses purchase orders as inventory requests with no immediate financial impact. Learn how to link orders to bills, vendor centers, and perpetual inventory records.
1222 Bill With Inventory Connected to P.O.17:02
Explore how QuickBooks Desktop 2023 handles a bill with inventory connected to a purchase order, including receiving against orders, accounts payable, and perpetual versus periodic inventory.
1227 Inventory Adjustment12:33
Perform a physical count and record an inventory adjustment in a perpetual system to align on-hand quantity, shrinkage, and value with the balance sheet and cost of goods sold.
1240 Manage Sales Tax13:07
Explore how QuickBooks Desktop 2023 manages sales tax, including setup, invoicing, accounts payable, and paying sales tax with the sales tax payable workflow.
1260 Check Form15:11
Explore how to use the check form in QuickBooks Desktop 2023 to pay vendors, record bank feeds, and understand impacts on the balance sheet and profit and loss.
1280 Void Check Prior Period18:25
Explore how to void a prior-period check in QuickBooks Desktop 2023, preserve an audit trail, and fix errors with reversing journal entries and prior-period adjustments.

1140 Vendor, Expense, Purchases, Pay, or AP Cycle19:53
Explore the vendor cycle, expenses, and accounts payable in QuickBooks Online, contrasting cash-based and accrual methods, and examine how data input forms and bank feeds drive financial statements.
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
Explore QuickBooks Online 2024 bill forms, the vendor cycle, and accounts payable, including entering bills and payments, managing the vendor subledger, and reviewing balance sheet and income statement reports.
1200 Pay Bills Form25:44
Explore the pay bills form in QuickBooks Online 2024 within the vendor cycle, tracking accounts payable and accruals. Enter bills, pay bills, and review balance sheet and income statement reports.
1220 Purchase Order Form - P.O.27:23
Explore QuickBooks Online purchase orders within the vendor and accounts payable cycle, with inventory options like perpetual or periodic, and how to convert orders into bills and invoices.
1240 Manage Sales Tax Form29:53
Master setting up sales tax in QuickBooks Online 2024 by enabling the sales tax center, configuring state and local agencies and rates, and applying tax to items.
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
Learn how to void checks and manage prior period adjustments in QuickBooks Online, preserving audit trails and protecting balance sheet and retained earnings integrity.

1300 Customer Section Customer Cycle16:49
Explore the customer cycle in QuickBooks Desktop, including cash and accrual flows, invoices, accounts receivable, and bank feeds. Contrast with the vendor cycle and inventory considerations.
1320 Customer Center14:12
Navigate QuickBooks Desktop 2023's customer center to manage customers, invoices, estimates, and sales receipts. Review accounts receivable and overdue invoices with aging reports from the home page.
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
Learn how QuickBooks Desktop 2023 uses the deposit form to increase the checking account, manage undeposited funds, and align with bank feeds for reconciliation.
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
Learn how to record a barter sale in QuickBooks Desktop 2023 using a barter clearing account, handling invoices, bills, and clearing deposits with accrual accounting.
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
Explore how to use QuickBooks Desktop 2023 to create statement charges, compare with invoices, and track accounts receivable through the customer center, subledger, and key financial reports.
1426 Finance Charges13:00
Learn how to configure finance charges in QuickBooks Desktop 2023, apply charges to overdue accounts receivable, set grace period and interest rate, and track income as other income.
1429 Statements14:26
Learn to generate and customize customer statements in QuickBooks Desktop 2023, including open invoices, balances, and finance charges, then print or email the statements to customers.
1433 Estimate14:09
Explore how QuickBooks Desktop 2023 uses estimates in a job-cost context, including creating, customizing, and converting them to invoices without affecting financial statements.

1300 Customer, Accounts Receivable, or Revenue Cycle14:26
Navigate the QuickBooks Online customer accounts receivable and revenue cycle using data input forms, invoices, and payments. See how clearing accounts and bank reconciliations shape financial statements.
1320 Customer, Accounts Receivable, or Sales Center19:23
Explore how QuickBooks Online handles customer accounts receivable and the sales center, using reports, invoices, estimates, and the customer center to manage accrual and cash flow.
1340 Invoice Form26:44
Explore how to create invoices in QuickBooks Online, using service and inventory items, tracking accounts receivable, sales tax, and cost of goods sold, with practical journal entries.
1360 Receive Payment Form33:55
Explore receiving payments in QuickBooks Online: create invoices, apply payments to accounts receivable, and deposit funds via checking or undeposited funds, with clearing accounts for accurate reconciliation.
1380 Deposit Form24:19
Explore how QuickBooks online deposit forms handle cash inflows, from invoices and receive payments to undeposited funds and bank feeds, and how deposits affect balance sheet and income statement.
1400 Sales Receipts Form27:05
Explore how to record sales with QuickBooks online 2024 using sales receipts, manage deposits and undeposited funds, and reconcile with bank feeds, while understanding inventory, tax, and reports.
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
Explore how to use credit memos in QuickBooks Online to reverse invoices for returns or bad debts, link to payments, and track sales returns and allowances.
1422 Refund Receipt Form27:39
Explore the refund receipt form in QuickBooks Desktop, showing how refunds affect accounts receivable and inventory, and contrast it with credit memos and sales receipts.
1425 Delayed Credit35:07
Explore how delayed credits, credit memos, and refund receipts affect accounts receivable in QuickBooks Online versus QuickBooks Desktop, including future-use credits and proper invoicing flows.
1427 Estimate16:48
Learn how the QuickBooks Online 2024 estimate form acts as an internal pre-invoice, not posting to financials, and how you move it from pending to accepted to invoice.

1440 Banking Section, Company Section & Shortcuts23:59
Explore QuickBooks Desktop 2023 banking, company section, and shortcuts, including the chart of accounts, items, inventory, time tracking, deposits, reconciliation, checks, and reports.
1460 Customize Shortcuts & Home Page Icons18:07
Learn to customize QuickBooks Desktop 2023 by tailoring the home page icons, shortcuts, and favorites, and managing show/hide items via preferences for a streamlined data entry experience.

1440 Other Forms14:37
Navigate QuickBooks Online forms to record daily transactions, link balance sheet and income statements, and manage vendor, customer, and employee cycles; explore transfer, journal entry, and bank deposit forms.
1442 Transfer Form14:37
Gain a practical understanding of the 1442 transfer form in QuickBooks, why it’s used for inter-account movements, and how it fits vendor, customer, and employee cycles alongside other forms.
1444 Journal Entry20:33
Learn when to use the QuickBooks online 2024 journal entry form versus standard cycle forms, and how debits and credits affect the balance sheet and income statement.
1446 Statement Form15:33
Explore how to generate and customize statements in quickbooks online 2024, including balance forward, open items, and transaction statements, to manage accounts receivable efficiently.
1448 Inventory Qty Adjustment14:18
Learn to perform inventory quantity adjustments in QuickBooks Online 2024, track shrinkage, and reconcile perpetual inventory with cost of goods sold using subledgers and inventory reports.
1448 Inventory Qty Adjustment14:18
Explore how to perform inventory quantity adjustments in QuickBooks Online 2024, reconcile perpetual inventory with physical counts, and allocate shrinkage to cost of goods sold or a shrinkage account.
1460 Keyboard Shortcuts15:12
Master quickbooks online keyboard shortcuts to speed data entry, navigate forms, enter dates, calculate within fields, and launch invoices, customers, and reports with keystrokes.
1480 Employee Section Payroll Process20:04
Compare QuickBooks Online payroll add-ons and payroll center, and weigh internal processing versus third-party providers while noting regulatory differences and key forms like 941, 940, and W-2s.

1480 Employee Section Payroll Process15:38
Master the QuickBooks Desktop 2023 employee payroll workflow, including setup, tax withholdings, payroll processing, benefits, and required forms like 941, 940, and W-2s.
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
Explore payroll processing in QuickBooks Desktop 2023 by using the pay employees form, handling withholdings, payroll taxes, and journal entries, and generating payroll reports and paychecks.
1540 Pay Payroll Liabilities Form12:40
Process payroll liabilities in QuickBooks Desktop 2023 using the payroll liabilities wizard. Track increases in liability accounts from paychecks and pay them down with liability checks.
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
Enter time form in QuickBooks Desktop 2023 demonstrates time tracking for payroll and invoicing, covering hourly and salaried employees, job costing, and billing to customers.

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: