Update: This article was last updated on 31st July 2020 to reflect the accuracy and up-to-date information on the page.
Accountants are tasked with the thankless job of bookkeeping, and more often than not, they accomplish the assigned task to perfection. What one might not see is the effort they put in to get the work done. And it is a lot.
Intuit has been constantly innovating and improving its accounting software to make the painstaking task of accounting easier. QuickBooks is the result of such an innovation.
It is the largest selling accounting software and the preferred choice for every small business. What QB provides CPAs and bookkeepers with is a state of the art user interface and easy installation. But these facilities are just the beginning.
QuickBooks was initially designed for bookkeepers and small businesses as they could not afford a separate accounting team for managing accounts. So intuit decided to make software that would do all the work for them. And so far, it has been a huge success.
1. Set Task Assignment
QuickBooks enables the administrator to set definite roles and tasks for the sub-ordinates, vendors, customers, etc. This helps everyone involved as now they know their assigned tasks and do not draw blanks while working.
Additionally, automatic reminders can be added within the QuickBooks application to streamline the payment process.
2. Easy Integration
It is difficult to find software that can fulfill all the requirements of any business. QuickBooks has the capability to integrate with various third-party add-ons to increase its functionality. Some of the most prominent add-ons for QB are:
- ACCTivate! (Inventory Management Software)
- Bill.com (Billing and Payment System)
- AvalaraAvaTax (Automated Tax Management)
- SmartVault (Document Management)
- Method:CRM (Customizable CRM)
- Drake Software (Tax Software)
3. No Effort Required in Data Import/Export
Another feather in QuickBooks’ cap is that it makes the import/export of data effortless. One can sync the data in the system and import it from other software like Sage or Quicken.
Therefore, you can easily transfer various inventory lists, charts, credit card transactions, purchase orders, and more directly into the application. It will further reduce manual entry tasks for accounting professionals.
4. Industry-specific Solutions
QuickBooks offers multiple versions of the application, each of which is customized to fit the need of any particular business. The desktop-based editions of the application are QuickBooks – Pro, Premier, and Enterprise.
QuickBooks Pro is the basic level accounting solution that allows access for up to 3 users simultaneously. It helps create invoices, estimates, and reports for other finances easily.
QuickBooks Premier can support up to 5 user licenses. It provides industry-specific reports and creates sales orders even from scratch.
QuickBooks Enterprise is a powerful business solution that has the capacity to allow access to 40 users simultaneously. It offers advanced reporting, payments, and other features.
Additionally, Intuit offers a reasonable pricing plan that is generally suited as per the business budget.
5. Cloud Hosting
One of the major advantages of QuickBooks is that it can be hosted on cloud servers, giving the workers the ability of remote access, which is highly desirable in such a volatile market.
QuickBooks software hosting adds value to the serviceability by enhancing its features. Multiple users can collaborate on a common platform to work on a single project simultaneously.
Moreover, one can easily upscale or downscale the number of resources and pay accordingly depending upon the business requirements.
It can be said that QB makes the job of the CPAs very easy and gives perfect results. It is tailor-made for small enterprises, and the current users can testify that this is their go-to software when it comes to accounting deeds.
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