With over seven million customers worldwide, QuickBooks is one of the biggest bookkeeping platforms. By offering two products for different markets – QuickBooks Desktop and QuickBooks Online – it shows its ability to innovate while dominating the competition.
In this article, we’ll tell you all you need to know about deleting a deposit and the difference between using QuickBooks Desktop and QuickBooks Online for your business.
How to Delete a Deposit on QuickBooks
If you want all your account books in order, sometimes you’ll have to correct or edit your customer’s payments. Deleting a deposit is a fairly uncomplicated process on QuickBooks. Here’s what you need to do:
- Open the toolbar and click on “Edit.”
- Click on “Delete Deposit.”
- If the deposit has more than one line, you can either delete all of them or choose one.
QuickBooks’s Two Products
QuickBooks offers its customers two different, yet quite comparable products – QuickBooks for desktop and QuickBooks Online (QBO). The most obvious difference is that the desktop version works well for large company systems where the need for mobility is not paramount. Meanwhile, the online version is quite versatile but focused on small companies that need mobility.
What Is QuickBooks Desktop?
QuickBooks was started almost 30 years ago, and today it’s one of the biggest accounting software businesses in the market. The desktop version offers three subscription packages:
- QuickBooks Desktop Pro
- QuickBooks Desktop Premier
- QuickBooks Desktop Enterprise
The three products’ differences are that they’re made for three different size companies: small, medium, and large enterprises. All three versions offer modern accounting tools like expense trackers, budgeting features, jobs, payroll add-ons, and many others.
Its strength lies in the balance between its features and its built-in security. However, one of the significant problems with the desktop version is that it works better with Windows than iOS, which puts iOS users at a disadvantage.
What Is QuickBooks Online?
The online version of QuickBooks, often called QBO, is a modern cloud-based accounting tool. It was developed to serve small companies and individuals. At its inception, it was an underdeveloped program, when compared to QuickBooks Desktop. But in recent years, the online platform has grown exponentially. Now, it’s highly scalable to fit all types of businesses and offers a software package with many robust features that can help your business.
Its most significant advantage is a short learning curve (compared to QuickBooks Desktop) and its cloud-based system that works wherever you can find an internet connection.
Both platforms are well-designed to support a company’s finance throughout the year. However, invoicing, along with new details like lending and international invoices that small companies may use, is a feature that works better on QuickBooks Online.
Accounting on QuickBooks
Both platforms work with the double-entry accounting principle and provide a clear overview of the accounts, journal entries, bank reports, and reconciliation. When it comes to complex accounting and reporting, QuickBooks Desktop demonstrates its superiority.
QBO came up with a service that offers its customers a chance to hire a certified accountant to manage all their books and fill tax forms for them. If their business is new and they don’t know who to turn to, QuickBooks can connect them with competent individuals who can help get everything in order.
Invoicing on QuickBooks
While creating invoices on QuickBooks Desktop are a reliable feature, QBO can quickly create personalized modern invoices that many clients see as a great advantage. Furthermore, QBO has options for recurring invoices, sending reminders for customers, auto-scheduling the company’s invoices, and invoice translation.
By using QuickBooks Online, you can get one of the best service reports with more than 80 formats from which to choose. With even dozens of templates, QuickBooks Desktop Premier can provide various report templates connected to sales, vendors, customers, tax, and accountants’ reports, while also allowing you to save changes in your reports and create customized report formats.
To use the payroll feature in QuickBooks, you’ll need to pay an extra monthly fee. Considered by many experts to be one of the best payroll solutions, QuickBooks also has several add-ons to ensure everyone gets their salary on time. Of course, if you’re already paying for QuickBooks Desktop Pro, this addition will cost you far less. With the QuickBooks Desktop Enterprise package, you’ll get the payroll feature at no extra charges.
Since QuickBooks Desktop developers primarily focus on Windows’s functionality, QBO has since developed an app that works well on both Android and iOS devices, allowing users to access their reports and invoices in just two clicks. With a new mobile app, QuickBooks Online is one step ahead of its desktop predecessor.
Manage Your Finance
If you’re looking for an accounting platform for your small company, QuickBooks might be the right thing for you. To make sure it’s a good fit, you can use its 30-day free trial period to navigate the program. Both QuickBooks Online and QuickBooks Desktop are stable platforms with a lot of useful accounting add-ons.
Now that you’re acquainted with deleting deposits and the difference between these two platforms, you can decide which one to use for your personal or business needs. Would you use QuickBooks for managing personal finance? Would you use a desktop or an online version of QuickBooks?
Let us know in the comments section below.