QuickBooks
Quickbooks by Intuit is a software program that enables businesses to complete and manage all accounting activities with a feature-rich product. The main focus is on smaller businesses that want to complete all their accounting functions in-house.
CRM Integration
Collaborative Workspace
Multi-Language
Task Management
Collaboration Tools
API
Calendar Management
Automatic Notifications
Document Management
Project Management
Deadline Tracking
Data Import
Campaign Management
Billable Hours Tracking
Billable Hours
Invoices
Time Tracking
Multi-currency
Timesheet Management
Accounting Management
Android App
Contact Management
Inventory Management
CRM
Customizable Templates
Credit Card Processing
Expense Tracking
Automated Billing
Bank Reconciliation
Credit Card Payments
Accounts Receivable
Balance Sheet
Cash Flow Management
Currency Conversion
Customizable Billing
Accountant Access
Actionable Reporting
Automated Expense Input
Automatic Bank Feeds
Automatic Expense Import
Expense Claims
Financial Management
Order Management
Advanced Distribution
Advanced Picking
Bills Of Material
Capacity Monitoring
Cash Flow Statement
Configuration Management
Contract Management
Demand Forecasting
Demand Planner
Dispatch Management
Drop Shipping
POS
Brainstorming
Client Relationship Feed
Customizable Due Dates
Customized Invoices
Document Templates
Purchase Orders
Check Printing
Convert From QuickBooks
Data Security
Sales Tax Management
Dashboard View
Bank-level Security
Cashflow Monitoring
Cloud Collaboration
Custom Support
- All-in-one Small Business Accounting package: The entire accounting platform is specifically aimed at in-house accounting completed by a small business.
- The program is packed with features that help to streamline business and make sense out of complicated accounting methods.
- Legal & Offical Accounting Reports: Businesses must draft official financial documents such as Balance Sheets, General Journal ledgers, Profit/Loss statements, and Income Statements.
- The software package can seamlessly create these documents and allow for double entry bookkeeping to allow for checks and balances.
- Multi-user Support: Many small businesses have more than one person working on the books.
- The ability to create permissions for different individuals to access information is a quality feature.
- Permissions can be given to outside sources such as accountants, coworkers, or bank officials when working to obtain financing for business operations.
- Mobile Platform: Accounting can be synced across devices and accounts. The ability to log in at a workstation or on the go is a great benefit of Intuit's Quickbooks.
- Financial Reporting: Time consuming reports are generated within the program using the data that is already entered into the software. Balance sheets or Profit and Loss Statements can be generated when the need arises. Promulgated forms are created and then printed for further analysis and document recording.
- Merchant Account Synchronization: Significant amounts of business are being connected online nowadays with the shift to more and more business being conducted in e-commerce. An Authorize.net or Stripe merchant account can be synchronized to make entries into the general journal of the accounting and financial records automated.
- Subscription Billing: The issue of billing people on a continual basis, in increments, or monthly is a business model used by many people. Quickbooks does not have this capability, but a similar software program, NetSuite, integrates subscription billing into the accounting platform.
- Multi-subsidiary financials: Given that the software is aimed at small businesses, there is the need to have separate accounts for each subsidiary or daughter company that has its own accounting books. Oracle offers a paid service that allows for accounting that is inclusive of multi-subsidiaries.
- Revenue recognition: Recognizing revenue basically means that there is an actualized generation of profit for a given accounting item. Quickbooks does not recognize revenue automatically. A similar program, Wave, has revenue recognition as part of its software bundled package. Also, Wave is free to use compared to many features in
- Quickbooks that only function when paid for.
Quickbooks has been at the forefront of all-in-one accounting software programs for quite some time. The software platform is one of the highest stand-alone accounting packages available on the market. If you are just starting out in the business world and want to minimize costs by taking care of your own books then this is probably the right solution for you. The software is very user-friendly with an extremely high standard of quality reported by many leaders in the field of accounting.
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