Brought by Intuit, QuickBooks accounting software built for accounting purpose for business ranging from small to large scale. The cloud-based software manages payments, bills, does invoicing, recording transactions, payroll, etcetera. The program is well-know in the market for being effcicient as well as user-friendly.
The software is developed in the Microsoft Windows operating system, which is present with 30 days trial period for the user’s understanding. After the trial period ends, you can buy the paid version that is easily available on the Intuit website with the QuickBooks version compatibility.
Features By The QuickBooks Accounting Software
The QuickBooks program consists of multiple features. This helps keep a track of sales receipts, invoices, checks, etcetera.
Following are some of its basic features.
Managing Sales and Income
By using this Accounting Software you will manage your sales and income by creating invoices to track sales by customer. You will also check the receivable balance by reviewing your Accounts Receivable Aging Report, which includes the details of both current and past due invoices.
Keeping Track Of Bills And Payments
function in QuickBooks to track your bills and expenses by connecting your bank and credit card. So with the help of this function, you can download and categorized all transaction details. Also, you can record it a few minutes with the help of QuickBooks.
QuickBooks also provides you to pay your bills if they are due. You make sure that you have to pay your bills on time by creating an Account Payable Reports in a few minutes.
Payroll is an area where no one wants to do any mistake related to the calculation. That kind of mistake makes penalties and unhappy employees, But with the help of QuickBooks payroll function that can automatically calculate and run payroll as often, you need it.
The best thing about QuickBooks payroll, it can integrate with QuickBooks. So your financial statements are always up to date as of the latest payroll run.
Reporting Of Business
With QuickBooks, you can manage inflow and outflow of your business, you can access serval report that provides valuable insight into your business. All the reports are run in a single click because reports are pre-built in QuickBooks.
There are three main reports on which your business health is dependent.
- Profit and loss report
- Balance sheet report
- Statement of cash flow
If you want to track your inventory based on your sale, QuickBooks will automatically track and update this for you as you enter transactions. With the help of QuickBooks several reports, we can manage inventory.
We all are very familiar with the tax process. At the end of the financial year that is a very challenging task for businessmen to collect and submit all the receipts. But With the help of QuickBooks, we can easily manage our tax or return process.
With the help of QuickBooks online, we can manage our business accounting and taxes.
Here we can create a user-id that is password protected to access our QuickBooks data. And also pull the information they need for returns.
With the help of QuickBooks accounting software, we can easily manage our all receipts. All QuickBooks Online subscribers can download the QuickBooks app to their mobile for free. They can also take a picture of receipts and upload it on QuickBooks Online.
Accept Online Payments
With the help of Intuit Payment Feature, customers can pay their invoices by any major credit card or bank account information that is ACH authorized.
There is no monthly charge for using Intuit payment. The charge is based on the transaction.
Staying Up To Date, Anytime Anywhere
Powerful invoicing feature such as invoice tracking, payment reminders is at your fingertips. And you can also access dozens of reports & manage your expenses. All power packed in one solution – QuickBooks. And you can easily access QuickBooks from your mobile on your business go.
QuickBooks are available in various versions, including QuickBooks Online, QuickBooks Desktop, QuickBooks Self-Employed, and QuickBooks Mac.
Each of these versions gives you a variety of features, that start at a monthly fee of $10 or a one-time fee between $299 and $1,500.
One of the best features of QuickBooks Online is that it is a cloud-based product that does not require software installation. QuickBooks Online product is available in three subscription levels, Simple start, Essential, Plus. This is very useful for any Service-Based Business because QuickBooks Online does not require any complicated invoice.
Intuit Quickbooks Desktop comes with three versions, Pro, Premier, and Enterprise. And all of these three versions of QuickBooks Desktop require software installation in your system.
- QuickBooks comes with a different feature as per client requirement like pro version used for small business that does not manufacture the product.
- QuickBooks Premier version used for manufacturing, retail, contractor, or non-profit.
- Enterprise version used for large scale business.
QuickBooks Mac is a desktop version that helps to mac users. If you have a mac computer then you have to go with QuickBooks Mac. The product is similar to QuickBooks pro used for small businesses.
This version of QuickBooks accounting software is ideal for freelancers and real estate. The version is also cloud-based means no requirement for software installation. You can also access it from any computer with an internet connection and with your secure login id.
This version comes with some unique feature that is not available in QuickBooks Online and Desktop. As you can transfer data to Turbo Tax and track your expenses.
The Advantages Of The Software
QuickBooks is a customer-oriented software and easy to use. The design of this software is very easy to understand. If your business account department is not big, this software is easy to use.
It will help you to manage your taxes easily. By using this software you will not have to worry whether your tax report is made correctly and on time.
Intuit always offers basic improvements that are helpful when managing the business. QuickBooks has its own tools and they will help you increase your efficiency.
QB always keep your financial data safe and secure, you will never lose any data by using this software. QuickBooks always focused on small businesses, they can grow better and earn profit by using this software.
Pros Of QB Accounting Software
One of the best parts of QuickBooks Accounting software is how simple it is to use. Many of the users gave us a positive report. They found that it is really quite simple to get started and even to add information to the system. The dashboard panel is really user friendly. You can easily find the features from the side menu. Accessing the settings of your account becomes easy from the gear icon that appears on the upper right corner of the screen.
From the dashboard panel, you can have an overview of your financial status, like expenses, dues and paid invoices, sales, profits and losses, and even the amount of your bank and credit card accounts. Basically, it shows how smoothly your business is going according to your plan.
You are provided with a totally free trial for 30 days. And guess what, there are no requirements for your credit card number or bank account number. Change the plan or upgrade it whenever you need it. Without spending even a penny, you can get 30 days trial of this amazing software.
No compatibility errors because QuickBooks Accounting software provides proper access of your system to an outsider accountant. This activity of software makes it easy to control the overall activity and manage the performance of your accounting and financial related work.
Cons Of QB Accounting Software
If your organization is small to medium-sized then this software is good for you. But that is not the case with large-scale businesses. This software does not provide features for such organizations.
Lack of professional support is quite obvious. This will create a bad impact on your business. Well, we suggest you go for the right solution according to your need and requirements.
If inventory management is the priority of your business, then get ready for the failure because this software has an issue with managing inventory. Especially when the volume of orders increases, it is important to have appropriate inventory management tools or software. However, QuickBooks does not have so.
There are limitations with the number of teams using the software and file size too. This can again lead to a great failure for the organization having great file sizes and the number of users. However, works well for the small to medium-sized organization.
The QuickBooks Accounting software comprises of various features and tools to make your accounting experience effortless. As a user, you can take benefit of it all and have a seamless workflow.
We hope the article was able to provide you an insight on the software. However, if you require more details, you can contact us through our toll-free number. Our team of experts are always ready to solve your queries.