My only experience with it is at DH's company. He likes the desktop version because it's cheaper than a subscription to the hosted version. He got into a bit of trouble though when they didn't upgrade the software regularly which would not have happen if he had SaaS internet version. You also have to be judicious about keeping current offsite backups. If you use the hosted version your stuff in the cloud is accessible from anywhere (not just the one computer), the software is always current and your data is also safely stored in the cloud. The advantage of desktop software vs. hosted is you can use it when you have no internet access.

Thanks 3katz. Good to know, especially the bit about the updates, which I typically try to avoid. I was told once I start with the online version, it's not portable if I want to move to different accounting software.

Small business accounting products and websites are kinda like TurboTax. (And Quicken used to be part of TurboTax) in the following way - the software doesn't turn inexperienced people into experts. Without some knowledge of what and how you want the software to do and work for you, you're not necessarily going to get the right answers nor do so with ease. Buying a software product (whether by download or web access) isn't the same as engaging the services of an experienced professional.

There are a number of competing products to choose from and what works best may depend on what your needs are. Is it a separate entity or a sole proprietorship? Do you need invoicing? Bill payment? Inventory tracking? Payroll? Etc.

Do you know and understand accounting or is it something you're not familiar with? Honestly, you can do bookkeeping with pencil and paper or a spreadsheet if only simple revenue and expense tracking is needed.

All of these things enter into the decision. For those with limited accounting knowledge and experience, a bookkeeping service might be a better choice.

Edit to add:

With any type of financial program, portability to another program isn't that common. Usually, if you want to change software products, you'd end the year using one and then start the next year with the new one, re-entering carryforward information like the chart of accounts and the beginning balance sheet.

Both are solid products. QBO was for a long time not as functional as QB Desktop, but that's really no longer the case. I'd unreservedly recommend QBO for the inherent benefits of being SaaS ... the software is updated and maintained by the provider, the data is available anywhere you have a browser and Internet access, backups are the responsibility of the provider etc.

Thanks so much for the info. I need quickbooks not because I want to do my own accounting, but because I need a platform to keep me organized for my accountant, and make invoicing, etc... seamless.

Thanks for your insight! Appreciate it.