QuickBooks accounting software has become one of the most popular and widely used business accounting programs. We began supporting QuickBooks software in 1992 when the first version was released, and have worked with every new release since then. We provide installation service along with initial setup support and continuing support. Our extensive experience with QuickBooks can help any business unlock the features in QuickBooks to make it work.
For new users evaluating QuickBooks, it provides the following significant features:
QuickBooks has features that distuingish it from other accounting programs. While it supports the traditional double entry method, it can also be used as a simpler single entry bookkeeping system that more closely matches the way transactions are listed in a bank statement. For example, the single entry bookkeeping method in QuickBooks for an expense payment would be entered as a payment of a bill in the checking account. Using the double entry method, the bill would first be entered into an Accounts Payable account, and then paid from the checking account. The double entry method in QuickBooks is more suited to businesses with 50 or more bills to pay each, or one that pays bills only on a specific scheduled frequency. Using the double entry method allows bills to be entered daily and then paid in a batch.
Invoices in QuickBooks can be completely customized, allowing fields to be re-sized and changed. QuickBooks has a built-in PDF creator, so invoices can be saved as a PDF for e-mailing. Using the QuickBooks invoicing system is an excellent way to manage accounts receivable and predict cash flow.
Reports in QuickBooks can be easily zoomed or drilled to return to the original data, which can then be edited. Reports can be used to find mistakes and exceptions that can be adusted to improve the accuracy of the reports. Other accounting systems don’t allow easy editing or deletions, requiring complex offset transactions. QuickBooks can be secured with user security, optional audit trail logging and date locks to make it function like a traditional double entry program.
While QuickBooks releases updates yearly, as of 2011 they have yet to include the option to assign transactions to a period. This limitation can make reporting difficult to interpret. Consider the case of a single large expense paid in January, such as a tax or insurance bill. Using the QuickBooks single entry cost method, the single transaction for the expense might create a loss in January that does not exist in successive months. Instead, the transaction would need to be manually periodized by splitting the transaction into 12 separate monthly expenses that are linked to a single payment.
Behind the scenes, QuickBooks includes its own transactional database server software. This ensures that data is always saved properly and significanty reduces data errors and corruption, even when computers lockup, re-boot or crash. Since QuickBooks adopted transactional support in 2008, we have rarely seen reports of corrupt data.