NJBIA kicked off its Small Business Network with an overview of the pros and cons (mostly pros) of using Quickbooks in the Cloud and an examination of the kinds of programs and services small businesses will need in the future.
The network was created specifically for those companies with 50 or fewer employees to exchange ideas and help NJBIA offer a new line of products and services to meet the unique needs of small businesses.
“There’s a perception that we’re just here to represent the big guys,” said Stefanie Riehl, NJBIA’s vice president of Business Resources. “While we certainly value our larger members, we want to be sure that we are being responsive to our smaller members.”
The network will be chaired by Jim Mahlmann of NetCetera, LLC. He urged small businesses to email him with their suggestions for future events and services NJBIA can provide. “It’s going to take input from you to tell us what you think we should do or what would work,” he said.
For the kickoff, two experts from the accounting firm WithumSmith+Brown— Scott Perlzweig, CPA and Heidi Farley—ran through some of the advantages of using QuickBooks Online.
In short, they said, QuickBooks Online makes it easier for your accountant and key personnel to access your data, while at the same time providing better protection for your information by using bank-level security and encryption on the Intuit company’s servers.
Quickbooks Pro, the top level program, is about $40 per month and offers several advantages over the desktop version.
First, it can be used on multiple platforms and multiple devices (phone, tablet, etc.) at the same time, and because it’s online, everyone who uses it will have access to the most update information. There’s no transferring of files back and forth. There are also thousands of third-party apps available.
QuickBooks Pro can track billable hours, prepare and report on budgets and prepare 1099-MISC forms at tax time. It does have limited inventory tracking capabilities, so the size of the business does matter. Farley puts the limit at 3,500 transactions per month. Anything more than that will slow the system down too much.
Another advantage is businesses do not have to use their own resources to run it.
“Your actual file is on the Intuit server,” Farley said, “so you don’t have to worry about taking up space, running the backups and making sure your files are OK. Intuit is taking care of all of that.”
For more information about the Small Business Network, or to join, contact Stefanie Riehl at email@example.com or 609-858-9517.