Major advantages with Ledgersync vs QBO
1) Client Username and passwords are stored securely within Ledgersync.
Giving bank username and password info to any employee takes on a lot of risk and liability. Who knows how the username and password is stored.
2) Built in software to handle client MFA and changed user id/password.
Clients will change their password info and banks will ask for token codes it’s inevitable. Without Ledgersync the ONLY way is for your employees to call up the clients and have them update the info manually in QBO or schedule a call to update QBO real time. That’s not a scalable solution. With Ledgersync you can mass text your client to fix the bank on their phone in 30 seconds it’s all done and there is no need for a phone call.
3) Fetch statements from thousands of banks
Ledgersync fetches bank statements from thousands of banks. QBO simply doesn’t compare to the level of Ledgersync
4) Check Images
Ledgersync is fetching check and deposit images from banks. QBO does fetch checks and deposit images but limited to a few banks
5) OCR bank statements
Ledgersync can convert scanned bank statements to excel. QBO doesn’t do this
6) Rules Engine
The Ledgersync rules engine is an automated software solution to view all your client transactions all in one page, auto categorize your transactions and push to QBO. We estimate once properly set up 70%-80% of the work is done month end WITHOUT manually repeating the same work over and over and over for each client. A huge time saver for accountants/bookkeepers.
7) Push statements to Cloud drives
Ledgersync fetches and pushes statements and check images to cloud storages like SmartVault, Sharepoint etc.. The advantage anyone on the team can access these statements real time in the cloud and stored there for as long as you need
8) Support
Intuit has a lousy support when it comes to their bank fetching. If you data from a bank that is not supported Or need support with a bank connection Ledgersync offers far more superior support.