QuickBooks Online
QuickBooks Online (QBO) is a cloud-based accounting software by Intuit used by millions of small businesses for invoicing, expense tracking, bank reconciliation, payroll, and financial reporting.
QuickBooks Online Definition
QuickBooks Online (QBO) is Intuit's cloud-based accounting platform. It handles the core financial tasks small businesses need: invoicing, expense tracking, bank reconciliation, payroll, tax prep, and reporting. It runs in your browser — no software to install.
QBO Plans (2026)
What QBO Does Well
Where QBO Falls Short
QBO vs. QuickBooks Desktop
Desktop is being phased out. QBO is the future — cloud-based, auto-updates, accessible anywhere. If you're still on Desktop, migration is worth considering before Intuit ends support.
FAQ
Q: Can QBO handle my business?
A: If you're a small business with under $10M in revenue, QBO Plus or Advanced handles most needs. For complex manufacturing, multi-entity, or advanced inventory, you may need an ERP.
Related Terms
> Need help making sense of your books? Ketchup cleans up your QuickBooks in 3–7 business days — so your numbers actually make sense. Get your price →
Related Terms
A source document is the original record that provides evidence a financial transaction occurred. These are the paper trail of your business — invoices, receipts, bank statements, contracts, purchase orders, and canceled checks. Source documents are the foundation of every bookkeeping entry and the
Funds awarded to an organization (typically a nonprofit) for a specific purpose, usually from a government agency, foundation, or corporation. Grants don't require repayment.
COGS (Cost of Goods Sold) represents the direct costs of producing the goods or services your business sells. For retailers, it's what you paid for the inventory you sold. For manufacturers, it includes materials, labor, and production overhead. For service businesses, it's the direct costs of deliv
A fiscal year is the 12-month period a business uses for accounting and financial reporting. It doesn't have to match the calendar year (January–December). Some businesses choose a fiscal year that aligns with their natural business cycle—like a retailer ending in January after the holiday season wr
Related Resources
Need these terms applied to your books?
Accounting Ketchup catches up your QuickBooks so the glossary becomes your reality. Flat rate.