QuickBooks: What Is It?

QuickBooks is a software that has developed a reputation for being the go-to solution for business accounting purposes. It helps keep track of your company’s transactions and finances – all from a single, intuitive, and easy-to-use software program.  No longer worry about your finances going mismanaged, freeing you to focus on business development to steer your organization towards greater success.

Many businesses have put their trust in Intuit’s QuickBooks as their core bookkeeping and accounting software. The software enables companies to take control of their accounting procedures and keep track of their expenses, salaries, payroll, taxes, and most importantly, their sales and profitability. QuickBooks has established itself as the one-stop solution for all financial needs including but not limited to:

• Financial management
• Inventory tracking
• Payroll processing
• Sales tracking
• Receivable management
• Payable management

QuickBooks is an internationally recognized accounting software that serves small and large businesses. Bookkeepers can enter business transactions into the system by filling out traditional invoices, bills, checks, and deposits with just a click. Once entered, the accountant can now manage the business’s daily accounts and transactions and prepare top management quarterly, semi-annual, and annual financial reports.

Using a computer saves a considerable amount of time for accountants, but not having the right software can backfire and decrease efficiency and effectiveness. QuickBooks ensures you are making the best use of IT to support your business activities, and QuickBooks customers can get services with full technical assistance.

You can use QuickBooks either from a standalone PC or set a dedicated server to integrate the data into all other PCs on the server. Once you start sharing data on the server, data security becomes a significant issue. Having QuickBooks hosting on a third-party service provider’s server allows users to access the application from their location. It works as a simple desktop app with complete data security.

The software has various versions, including Basic, QuickBooks Pro, Premier (for General Business, Contractor, Manufacturing, and Wholesale, Nonprofit, Professional Services, or Retail), and Enterprise software. The basic version works well for many small businesses, but large multinational corporations prefer the advanced versions.

The advanced desktop versions of QuickBooks support many users at once, provide better insights, have more in-depth and advanced informative dashboards that help in management decision-making. Moreover, these advanced versions provide multiple bookkeeping and business management features, along with better support when it comes to financial management.

The software’s interface grants more control and accessibility to the accountant. It can serve as a business management and training platform as it has Enterprise Resource Planning (ERP) abilities and e-commerce dynamics rooted in it. The QuickBooks Pro version, in particular, allows easier designing, generation of forms and has a host of extensive features that are apt and more comfortable to navigate design interface with great support. The professional version makes the whole accounting process simplified. The premier version of QuickBooks comes with advanced features and comprehensive technologies along with industry-specific interfaces.

The Premier version is one of a kind from industry-specific budgets, tracking, billing, and payroll features. The enterprise version adds a complete, precise inventory management system with advanced reporting and ledger features with full support for more than thirty simultaneous users.