Question

Write a 750-word paper comparing the various cloud-based accounting options currently
available. Find at least 2 other companies that provide cloud-based accounting software and
compare and contrast them to QuickBooks Online. Be sure to consider the costs, features, and
pros and cons of each.

Answer 1

Cloud based accounting provides mobility, security, simplicity and continuity to every business. The various cloud based accounting options available in the market are:

Freshbooks

It is invoice accounting software for small businesses. It is one of the best cloud solutions for small business owners. The company represents itself to have provided its service to more than five million customers helping them streamline time tracking and client invoicing.

A full-featured FreshBooks mobile application is available for smartphones and tablets running the iOS and Android operating systems.

QuickBooks Online

QuickBooks is an accounting software package developed and marketed by Intuit. QuickBooks Online is an ideal accounting software for freelancers and small businesses that simplifies small business accounting.

Its features are cloud accounting, invoicing, online banking accounting reports, cash flow managemnt, time tracking, mobile apps, multiple users, free unlimited support etc.

Tipalti

Tipalti is an accounting software FinTech business that provides consolidated accounts payable and remittance services for businesses needing to pay their suppliers.

It is a powerful and secure payment solution that automates the entire mass global payment processing operation.

Zoho Books

Zoho Books is a smart accounting system designed for growing businesses. It is a smart online accounting software that will streamline your back office operations, automate business workflows and help you securely collaborate with your accountant online.

Zoho is one of today’s leading software providers with more than 13 million users from all around the world.

Cheqbook

Cheqbook is a cloud accounting Software-As-A-Service for small-to-medium business. It automates downloading and categorizing transactions as well as offering invoicing, bill pay, and reporting.

It has color coding feartures and can also be used to invoice clients via email or mail, run reports, create balance sheets, and accept online payments. Bank reconcilliations can also be done using this cloud accounting software.

The two most widely used cloud based accounting software are compared with quick books online Comparison of fresh books, zoho books and quick books online:

Freshbooks	Zoho Books	Quick Books Online
Customers are charged  $31.20/month	Basic version is for $9 and professional version is for $29 per month.	Customers are charged  $31.20/month
It is great cloud accounting app for small businesses. Its features are: Online Invoicing, expense tracking, Time Tracking, Sharing images and files, Project overview, preparation of accounting reports and taxes. Pros: Mobile-friendly and accessible its time tracking for billing purposes allows businesses to save time. Provides invoice to payment features that can be used by all small businesses. FreshBooks enables you to generate financial reports by simply processing data already entered Cons: Bulk creation of invoices within the FreshBooks’ interface. Pricing- It is useful only if you have many clients as it helps to save time, otherwise the same thing can be done in cheaper ways or for free.	It can be used for small and medium businesses and freelancers. Its features are: Contact Management, Project Time Tracking, Online Payments, Invoices, Inventory Management, Invoice Templates, Expenses, Automatic Bank Feeds, Purchase Order, Collaborative Client Portal, Exhaustive Reports, Sales Order, Accounting and tax related issue. Pros: helps companies streamline their back office operations manage all financial transactions from a single hub designate tasks and projects from any device Cons: Banking account vouchers cannot be print separately . Items in Inventory have to be entered again for same product in order to check proper inventory if we use only zoho books.	It can only be used for small businesses and freelancers. Its features are: Actionable insights, Automated online banking, Automatic tax calculations, Banking data synchronization, Create and manage invoices, Create custom invoices,Create estimates, Dashboards and feeds,Enter and manage bills, Export data to Excel, Free trial, Mobile receipt capture, Multi-device document sharing, Pay online link in invoices, Print checks, Profit and Loss and Balance Sheet reports, Smartphone compatible, Support for Mac23, Track payments, Track sales and expenses Pros: It provides automated reporting. It provides enterprise tailored accounting environment. It provides variety of payment options. Cons: Regular updates change the product making it difficult to re-learn and re-teach procedures. Difficult inventory tracking