What is QuickBooks? – How to use QuickBooks

QuickBooks is a small business accounting software program that businesses use to manage revenue and expenses and track the financial situation of their businesses. You can use it to invoice customers, pay invoices, generate reports, and prepare for taxes. The QuickBooks product line includes a variety of solutions that work great for everyone from a single entrepreneur to a midsize business.

Because there are several QuickBooks solutions, it’s important to choose the right one. Before committing, try QuickBooks by signing up for a 30-day free trial; The trial is a fully functional version of QuickBooks, so you can test all bells and whistles. Best of all, you don’t need a credit card – but if you decide to buy, the software is currently 50% off.

If you’re a QuickBooks user or want to stay updated with every updates from QuickBooks I recommend you to follow official QuickBooks Blog.

Pros & Cons of QuickBooks

Pro

1. Better shared access to data with employees and accountants
2. No software or local data to manage – no upgrade or release updates
3. Robust help center with online chat
4. Easier app synchronization with automatic downloads every night
5. No backups and your data is safe on Intuit servers
6. You can automatically send invoices and statement
7. You can send reports automatically
8. Bank and credit card transactions are downloaded every night
9. Track first-in-first-out (FIFO) inventory
10. You can open more than one window at a time
11. IPad and iPhone apps are free with auto-sync
12. Option to receive payments with credit card and ACH electronic payments

Cons

• Lack of industry and business-specific features (such as party monitoring, e-commerce and barcode scanning)
• Lack of important reports other than accounting
• Indecision/system crashes
• Lack of direct professional support
• File size issues/limitations on the number of processes
• Restrictions on the number of users
• Created with a “small business mentality”
• Data is not always backed up, so you risk losing information
• Lacks billing design tools
• Easy to fix errors/errors (this makes it easier for someone to change your books)

Almost everyone agrees that QuickBooks is a great entry system for new and very small businesses. One of the most important considerations when starting a business is which (if any) software is required to manage the business. For the most part, the initial software purchase is based on the need for accounting and finance management, and in this case QuickBooks is a logical choice. But as your business grows and your needs become more diverse than the limitations begin to show. Let’s briefly examine the limitations of QuickBooks:

• Limited reporting and transparency for the health of your business – lack of specific reports
• Double input and switching errors between systems and departments
• Limitations on file size and data, as well as the number of users
• General and non-personal support
• An independent application that lacks integration and automation among other systems

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