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.
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We have 1 review for QuickBooks. The average overall ratings is 4.0 / 5 stars.
Overall Opinion: 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.
Pros: 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.
Cons: 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.
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This page was composed by Alternative.me and published by Alternative.me. It was created at 2018-04-28 12:18:18 and last edited by Alternative.me at 2020-03-06 07:51:58. This page has been viewed 2903 times.