Q:

Kerry:

What do you think about the new versions of Quickbooks as I am thinking of upgrading. Do you like the online version?
 
Thanks
 

A:

So far, the 2007 QB program has been working well.  I have been using it for our stuff and haven’t had any problems.  It’s supposed to have a more powerful Accountant’s Review capability, but I haven’t had any clients use it yet. 

In spite of Intuit’s heavy promotion, I have never been a supporter of their online QB service because the data is not transferable to the desktop program, making users prisoners.  I have told them for several years that  I would be more willing to recommend their service if the data could flow in both directions.  I reviewed the service in my blog a few years ago.

In spite of that, I do have one client in Oklahoma who has been using the online version for a partnership for a couple of years and I have used it to prepare a couple years of partnership tax returns.  They like it because everyone can have access to the data without having to send files back and forth.  While I was able to get enough data for the tax returns, I found it much more difficult to work with than the desktop program and I am still advising against its use.  It also still has al of the limitations I mentioned in 2004.

I hope this helps.

Kerry