No matter whether you own a small or large firm, you must keep track of all transactions. You can’t predict where your business will go if you don’t keep track of it. So to make your job easier, Intuit has launched a software named QuickBooks.
QuickBooks is accounting software, which is mainly used by small businesses. But in the current scenario, almost 80% of businesses use it.
The first version of QuickBooks was released in 1984. It was developed by two engineers, Scott Cook, and Tom Proulx.
QuickBooks makes your accounting job easier by handling your bills, checks, and invoices, among other things. it saves your money and time and gives you impeccable results.
We will talk about Quickbooks in-depth, but before that let’s have a look at its features.
Features of Quickbooks
Here are some features of Quickbooks that make it popular among business
1.Easily track your income
A financial report of any business shows whether you are earning a profit or loss. Keeping a record of your income is the most important part of your business as it works the face of your business. QuickBooks comes with the feature of “ income tracker”.This will keep all the details of your income and expenses without making any mistakes.
2.Assist in your taxes
Worrying about your taxes? Whether it fills in time? Whether it fills correctly? Need not worry as QuickBooks is here. QuickBooks keeps details of your taxes, when it has to be paid and how much, everything.
The main USP of any software would be that it is user-friendly. A user can easily understand it and operate it. QuickBooks is one of that software that can easily operate by any user.
QuickBooks has this new feature of the multi-screen display. It enables users to work on two different files simultaneously. You can easily split the screen. It increases your work efficiency and also saves you time.
5.Charts of accounts
With Quickbooks, you can easily print or check the details of any accounts. It has a feature of “chart of account” which displays a chart of related accounts.
With the help of Quickbooks, you can easily generate an accurate and professional-looking invoice.
Various versions of Quickbooks
QuickBooks has introduced different versions for each kind of business. These are -:
This version was launched in 2004. It is web-based and uses cloud-based accounting functions.
It enables you to work from any location and at any time. So if you are one or more than a person running your business, this version is very useful for you.
It comes with various plan ranges. You can choose according to your budget.
QuickBooks pro is best for medium businesses. It comes with two price ranges, valid for up to 3 years. You can easily share the software with another person too. It allows you to easily download your bank transaction.
3. QuickBooks Premier
If your business is well established and growing fast, this version is for you. It allows you to modify your report according to your need.
QuickBooks premier allows you to track your orders, change your bills, etc.
4. QuickBooks Enterprise
QuickBooks enterprise is the complete package for any large-scale business. Of course, it is the most costly, but one-man army version released by QuickBooks. It has all the important features which the other version didn’t have.
5. QuickBooks for Mac
Quickbooks has one of his versions for Mac users. It has all the same features as Quickbooks pro except that it allows you to make a copy of an accountant.
Pros and Cons of QuickBooks
Everything that comes with some pros also has some cons too. QuickBooks is one the best accounting software, but we will also discuss some cons too.
Pros of QuickBooks
- Save money and time
- Reduce manpower
- Keep a reminder of your bills and taxes
- Use it anywhere and anytime
- Allow you to connect with your bank accounts
- Keep track of your income and expenses
- You can easily generate invoices
- Easy and secure to use
Cons of QuickBooks
- Some user found it difficult to use
- Make you dependable
- Not a cost-effective for small business
- As based on cloud-computing, you cant control its features
It is a quick introduction to Quickbooks software. This software is literally useful for your business. And you can see commendable differences after using it. In this digital era, using this software not only reduces your workload also gives you impeccable results.