The question for many landlords and accountants is if I’m currently using QuickBooks Desktop, why should I make the switch to QuickBooks Online? By looking at the key features of QBO vs. QBD, we can help commercial landlords and accountants understand what will work most efficiently in their business.
Similarities between QBD and QBO
- Customizable: Features and services are customizable by choosing the right plan for your business
- Streamlined: Conduct day-to-day accounting operations related to payroll, rent, expense management, billing and payment, revenue analysis, etc. in one system
- Integration: Integrate seamlessly with an existing property management system
Differences between QBD and QBO
- Access: With QBD, information is accessed and stored on a local server and only accessible in-person and does not need internet. QBO is cloud-based, where information is stored online and accessible anytime, anywhere, and needs the internet to run.
- Back-ups: Both have cloud storage available as a backup through Intuit Data Protect to QBD or the Plus feature in QBO.
- Licensing: QBO requires individual subscriptions for each company, while QBD can manage multiple companies with one license.
- Updates: QBO updates are free. The latest version of the software will be made available with every monthly subscription. Intuit may offer free updates, but most businesses must buy a new software version when the license expires. QBD license is valid for a two or 3-year period.
- Support: QBO provides unlimited support if you hold the subscription QBD offers during the licensed period.
- Data migration: QBO and QBD can seamlessly import and export data separately and between other integrations, but they do not migrate all the data between the two versions.
- Industries: QBO works with automated processes like invoicing, tracking data changes, email reporting, and bank transactions. QBD shines with integration for point-of-sale machines, inventory, progressive invoices, sales orders, and accounts payable. QBO also helps in businesses where delayed billing is appropriate such as rent, and separate income and expenses by class for each property is essential.
Re-Leased’s two-way integration works seamlessly with QBO
If you’re already using the Re-Leased property management solution, the natural step would be to utilize the integration with QBO. With Re-Leased + QBO, you’ll get:
Complete visibility into business performance
The primary benefit of QBO integration with cloud-based property management software is complete business visibility. With one input source, all data is immediately available across each system and accessible anywhere, any time.
Integration eliminates the need for duplicate data entry in both systems or exporting out of one and importing it into another manually, increasing the likelihood of human error.
The foundation for growth & scalability
Seamless integration is all about making sure these platforms communicate with each other so that your critical information is the same across both systems. This singular source of information lays the foundation to uncover smarter ways of operating and critical insights about your business.
Software that works best for your business
Integration with QBO gives you the best accounting software for your real estate business instead of being forced to cobble together unfamiliar platforms. The real benefit is leveraging experts on both sides. At Re-Leased, our people are well-versed in property management software and are here to help or guide you as you integrate the systems. The same is true of the QBO experts for any of your financial questions.
A savings of time and money
With one system, you can be confident that the information is up to date and accurate whether you’re working in your property management or accounting system.
Collaboration across departments
Integration of your accounting and property management software allows transparency and collaboration across departments. This makes life easier for both teams and unifies your digital strategy. Property managers get access when needed, and accountants have complete control of their financial data.
QuickBooks is the best-in-class advanced accounting software to handle the complexities of daily real estate operations. Re-Leased seamlessly integrates with QBO to monitor finances, provide collaboration, and optimize revenue. Now is the time to streamline your management and accounting activities for business transparency and growth.
Schedule a consultation with our team to learn more about our integration options today.
