If you’re in the accounting industry, there are loads of accounting software to choose from. Some of them offer a user-friendly interface, while some offer advanced features that ease all your complex accounting needs.
With 200,000 customers, QuickBooks is a popular accounting software today. Used by accountants and CPAs worldwide, QuickBooks caters to both major and minor firms. More often than not, QuickBooks is used not just to manage the finances but also for an end to end business solution.
So, how does QuickBooks fare against other accounting software available in the market? Let us draw a detailed comparison of the same.
Table of Contents
Integration With Other Applications
When you use any accounting software, you need to integrate it with third-party applications for smoother business management. While most accounting applications offer integrations with a few third-party applications, QuickBooks can be combined with more than 650 of them.
Ease of Managing Finances
QuickBooks helps you manage your business transactions and offers a complete solution to manage the finances efficiently with the inbuilt ‘Income Tracker’ option. With this, inputting the transactions is made more comfortable and flexible than ever.
QuickBooks makes it possible for you to access data quickly, ensuring that your data is accessed only by authorized personnel. QuickBooks gives you an option to control who gets access to what documents. Depending on the responsibilities, you can alter these permissions accordingly.
Easy Sales Tracking
It is not easy to track the transactions/sales (even for small companies and accounting firms). And imagine how hectic it will be in the case of a major firm. Not just that, even the smaller firms tend to increase their customer base as soon as they can to increase their market value.
QuickBooks offers you ‘QuickBooks Lead Center.’ It allows you to track sales, view expenses simultaneously, and follow the leads, saving time and energy. It also provides you with advanced user monitoring features that you can use to send invoices, set custom pricing, etc. This unique feature differentiates QuickBooks from other accounting software, making it a market leader.
Advanced Custom Tools
Starting a new report from scratch can be hectic when you repeatedly rewrite the same content. To avoid this, QuickBooks introduced a new feature that allows you to duplicate the same template and add the extra fields necessary instead of rewriting the whole document multiple times. There is also an option available to add columns, get variables, apply conditional statements, etc.
Also, QuickBooks offers an ODBC driver. It is used to customize your report templates manually. Not just that, but it also has a QODBC feature that helps even a non-technical person to design the templates.
Generally, when you start using a new application or software, you tend to search online for training material. QuickBooks provides you such features in the application itself. If there are sources available online for free of cost, what difference does it make to learn through the inbuilt source? The answer for this is, the developer of an application has more knowledge on the platform than anyone else.
Learning directly from them will help you understand the concepts and usage at a much more intricate level. This feature is missing when it comes to other accounting software. Therefore, QuickBooks is the first choice by the CPAs.
Increased User Capacity
Every accounting application has a restriction on the number of users allowed. Few of them will enable a maximum of 3 users, while most of them restrict it to 5 users. But when it comes to QuickBooks, this limit can be extended to 40 users (in the QuickBooks Enterprise version).
Not just that, it also allows you to run multiple company files at once. Therefore, if you plan on growing your business throughout different branches in the future, then QuickBooks is the right choice for you.
Accounting firms process large data sets and deal with data from multiple clients from various industries. This means that firms need to process large data in a time-efficient manner. This is where QuickBooks outshines the majority of accounting software in the current market. Multiple users can access large data files in QuickBooks, and the software takes care of all the processing without any performance lag.
In this digital age, almost every accounting firm relies on accounting software. They choose the software according to their needs and budget – a software that helps accomplish daily accounting tasks, along with taking care of critical financial data.
QuickBooks understands what its users need, and Intuit continually listens to the feedback from the users and makes improvements accordingly.
Want to try QuickBooks? Get in touch with our Solutions Consultant at 1-855-ACE-IT-UP.