QuickBooks Online Advanced can be transformed into a productive business solution for more vertical industries with multiple revenue streams, including retail. To expand QBO Advanced functionality and reach, add Ability Financial Exchange (AFE), QuickBooks Point of Sale (POS), and cloud-based SaaS add-on software apps for time tracking, payroll, automation, and advanced reporting.
This article covers QuickBooks Online Advanced benefits and features, types of businesses that will benefit from this seamlessly integrated software solution, and how you can get this customer-proven solution from Ability Business.
What is QuickBooks Online Advanced?
QuickBooks Online Advanced is the highest level QuickBooks Online plan, available as a SaaS subscription for up to 25 users and three Accountants. QBO Advanced includes Priority Circle premium 24/7 customer support and training. QBO advanced offers real-time business Smart Reporting, powered by Fathom, with drill-down dashboard insights including profitability, KPIs, and cash flow statements.
Benefits and Features of QuickBooks Online Advanced
Benefits of QuickBooks Online Advanced
Benefits of QuickBooks Online Advanced are real-time Fathom Smart Reporting with drill-down project profitability and cash flow dashboards. Users set up automated workflows, get online backup, use efficient batches, and get Priority Circle customer support, including an account rep and 24/7 access plus $3,000 in value from online on-demand training.
Key Features of QuickBooks Online Advanced
QuickBooks Online Advanced features include:
- Includes 25 users + 3 accountant users
- User permissions by each user or role group
- Track and batch income & expenses
- Capture & organize receipts (including mobile device receipt capture)
- Maximize tax deductions
- Track miles
- Send estimates (convertible to online invoices with a PayNow button)
- Track time
- Track project profitability (with QB Payroll and QB Time add-ons)
- Invoice & accept payments
- Track sales & sales tax
- Manage 1099 contractors
- Manage & pay bills (using batches)
- Track inventory
- Smart Reporting powered by Fathom
- Run most powerful reports available for QBO software in real-time
- Business analytics & insights
- Manage cash flow with waterfall reports by cash flow category
- Drill down for details
- Manage KPIs
- Automatically backup and restore company data
Some of these features require add-on apps for an additional SaaS cost.
Smart Reporting, powered by Fathom, includes customizable business intelligence tools providing a value of $39 per month.
Vertical Industries Using Standard QuickBooks Online Advanced
QuickBooks Online Advanced industries (using the standard software) include:
- Professional Services
- Other professional services
- Other Services
- Food & beverage
Vertical Industries Benefiting from the Ability Business QBO Solution
With a package of selected software offered by or through Ability Business, including standard QuickBooks Online Advanced, the verticals list can be expanded to more industries. And their capabilities are enhanced.
Verticals using QBO Advanced + Ability Financial Exchange (AFE) + QuickBooks POS
Businesses with multiple revenue streams in more verticals can integrate QuickBooks Online Advanced with QuickBooks Point of Sale and Ability Financial Exchange (AFE) add-on software.
The expanded list of vertical industries currently using the complete Ability Business Solution for QuickBooks Online Advanced to their advantage include:
- Security, lock & key
- Contractors specializing in painting and flooring
- Pool service & supplies
- Copy & print services
- Design services
- Other services and supplies businesses
Arts, Recreation, and Entertainment
- Arts studio
- Sports center
- Therapy like massage and herbal yoga
- Country clubs
- Pro shops
- Specialty stores
- Meat & seafood markets
- Produce farms
- Gift Shops
Software and Apps Comprising the Ability Business AFE-POS-QBO Advanced Solution
The Ability Business advanced app stack solution for Ability Financial Exchange, QuickBooks Point of Sale, and QuickBooks Advanced is called AFE-POS-QBO.
Use QuickBooks Online Advanced and QuickBooks Point of Sale (QB POS) for Retail needs. Get a 30-day free trial for QuickBooks using this link:
Integrate these add-on apps with QuickBooks Online Advanced and QB POS to complete the Ability Business solution:
- Ability Financial Exchange (AFE)
- QuickBooks Payroll
- QuickBooks Time (formerly T-Sheets for QuickBooks)
Which Businesses Benefit from the Ability Business Expanded Verticals Solution?
Ability Business believes that customers in its expanded verticals list, with these characteristics, should consider its QuickBooks Online Advanced solution with add-on software apps:
- Customers with complex business needs
- Typically 10-100 employees
- Over $1 million in revenue
What is Ability Financial Exchange (AFE)?
Ability Financial Exchange (AFE) for QuickBooks Online from Ability Business is a cloud-based, almost real-time two-directional syncing tool app for QuickBooks Online that transfers data between QuickBooks POS and QuickBooks Online accounting software. AFE lets you work from either system when it’s task appropriate. The QBO sync connection enables you to work anywhere, anytime.
Another Ability Financial Exchange add-on is available from Ability Business for syncing and transferring data between QuickBooks Point of Sale and QuickBooks Desktop, a feature not available from QuickBooks Point of Sale alone.
Why Ability Business?
To get the AFE-POS-QBO Advanced solution or for your other QuickBooks needs, you can trust Ability Business.
Ability Business is an experienced, award-winning QuickBooks Solution Provider providing customized software solutions and hardware for QuickBooks accounting software and QuickBooks Point of Sale desktop.
Ability Business is the developer of the Ability Financial Exchange (AFE) sync tool add-on app for connecting QuickBooks Online and QuickBooks Point of Sale for Retail.
About the Author
Barbara is currently a financial writer working with successful B2B businesses, including SaaS companies. She is a former CFO for fast-growing tech companies and has Deloitte audit experience. Barbara has an MBA degree from The University of Texas and an active CPA license. When she’s not writing, Barbara likes to research public companies and play social games including Texas hold ‘em poker, bridge, and Mah Jongg.