Intuit QuickBooksby Mel Jun 21, 2020 | 0 Votes | 29 Used | 0 Reviews - rate Intuit QuickBooks is an accounting software package primarily targeted towards small and medium-sized businesses that offers desktop accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, track inventory, process payroll functions, and more. Apply Now Similar Sites Used
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QuickBooks is an accounting software package developed and marketed by Intuit. Intuit QuickBooks products are primarily targeted towards small and medium-sized businesses and offer desktop accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, track inventory, process payroll functions, and more.
What You Get
Any SME that has done any kind or record-keeping has heard of Intuit QuickBooks. Founded in 1983 with the idea that there should be a better, simpler way to do accounting, Intuit has been one of the biggest names in accounting and personal finance for over 35 years. Starting with its first product, Quicken, for personal financial management and home-based businesses, Intuit soon found a need to develop a package to handle the more complex accounting, auditing, workflow processes, and other financial management functions required by larger enterprises.
Thus, the establishment of Intuit QuickBooks in 2002—and QuickBooks Online two years later—with a variety of products and packages designed specifically for use by manufacturers, wholesalers, professional service firms, contractors, non-profit organizations, retailers, professional accounting firms (who service multiple small business clients), and medium-sized businesses.
QuickBooks is divided into a variety of products depending on your company’s particular needs, such as QuickBooks Online and QuickBooks Desktop.
The QuickBooks Desktop software package remains one of the most widely-used small business accounting applications in the world and is available in four types: QuickBooks Pro; QuickBooks Premier and Premier Plus; QuickBooks Enterprise; and QuickBooks Accountant.
QuickBooks Desktop Pro for up to 3 Users, offers top notch Invoicing Software Capability, allowing users to create a professional invoice for their customers; Inventory Tracking Capability to track all products sold, cost of goods, and inventory management, including inventory adjustments; Income & Expenses Tracking where you can organize everything in one place with Customer, Vendor, and Employee Centers; 100+ Reports including profit & loss, expenses and balance sheets; Estimates tracking, converting, and sending; Sales Tax tracking; Bills & Accounts Payable management; Employee Time Tracking and billable hours; 14,500 List Limit; and 1099 preparation, filing, and tracking.
QuickBooks Desktop Premier and Premier Plus for up to 5 Users, includes everything in the Desktop Pro Package plus 150+ industry specific Reports; Forecasting functionality from scratch or from the previous year’s information; and Industry Specific Features like profitability by product or by project and client, client billing by job phase, and industry specific reports including donor contributions, sales summary. Premier Plus, meanwhile, has the added perks of Unlimited Customer Support and Automatic Data Back-up & Recovery.
QuickBooks Desktop Enterprise for up to 30 users, is Intuit’s most comprehensive accounting package with 6x the capacity of Pro and Pro Plus and designed for medium-scale businesses. It offers everything from the Premier Plus package plus Advanced Inventory and Fulfillment Tools; Advanced Reporting; Automated Pricing Rules; choice of over 200+ Report Templates; priority customer service as a Priority Circle Member; and other Customizable Options.
QuickBooks Desktop Accountant is a bookkeeping, write-up and financial reporting solution designed specifically for accounting professionals supporting multiple QuickBooks clients. Client Collaborator saves you time by tracking client conversations inside QuickBooks while Accountant Toolbox improves productivity by giving you access to accountant features from your client’s QuickBooks.
QuickBooks Online currently with 2.2 million users worldwide, is the cloud-based, online version of QuickBooks Desktop Pro—with additional features. Like its desktop cousin, Online offers strong reporting, advanced invoicing options, tax support, inventory capabilities, and 650+ integrations. It also offers a unique built-in lending platform called QuickBooks Capital and an add-on called QuickBooks Live Bookkeeping, where you can outsource your bookkeeping tasks to a QuickBooks Online accounting expert.
Additionally, there are several features offered by QuickBooks Online that you can’t get with the more traditional QuickBooks Desktop such as automatic sales receipts, split transactions, scheduled invoices, and location and class categories.
QuickBook Desktop products can be purchased via the QuickBooks.Intuit.com site at the following prices: Pro ($299.95), Premier ($499.99), and Enterprise ($1091.70/year).
Optional Plus (unlimited customer support, data backups, and upgrades) add-on subscription packages are available for both Pro ($149.95/year) and Premier ($249.95/year) as well as Pay Employees (employee payroll and e-file tax system upgrades) for Pro and Premier ($315 billed first year +$2/employee/mo) and QuickBooks Payments which allows you to accept payments from your customers. Payment processing costs 2.9% + $0.25/per transaction when a customer pays their online invoice with a card, 2.4% + $0.25/per transaction when a customer swipes their card, or 3.4% + $0.25/per keyed-in transaction. There’s a 1% charge for ACH transfers ($10 maximum fee).
QuickBooks Online Subscription Plans include: Self-Employed (independent contractors who file Schedule C) for $15.00/mo; Simple Start (new businesses just starting out) for $25.00/mo; Essentials (service-based businesses who invoice for their time) for $20.00/mo; Plus (product-based businesses who track inventory) for $70.00/mo; and Advanced (growing businesses who need more productivity and insights) for $150.00/mo. All plans include a FREE 30-Day Trial.
As of this article’s publishing, Intuit QuickBooks Online is offering a Buy now for 50% off for 3 months promo (without the 30-Day Free Trial) which brings down the price of the first 3 months of your monthly subscription price by half.
As for security, QuickBooks Online uses 128-bit SSL encryption and multi-factor authentication. Physical safeguards have been implemented at the Tier 4 data center, and routine testing ensures security. You can refer to the Intuit website for more information on Intuit QuickBooks security.
Intuit is accredited by the BBB with an A+ rating. QuickBooks Online, specifically, receives 4.2/5 stars on GetApp and 4/5 stars on G2 Crowd.
While the overall satisfaction ratings for Intuit Quickbooks are consistently high across the board, especially for the Desktop version; QuickBooks Online has been experiencing several complaints, particularly with their credit card processing functionality, payroll processing, inconsistent customer service, and bugs and crashes reported across multiple sites, including a case involving a worldwide outage where users were unable to login to their QuickBooks Online accounts.
THE trusted software for all your accounting and financial management needs since 1983, Intuit and its array of QuickBook products are versatile enough to meet all your business needs across both desktop, online, and mobile platforms whether you’re a freelancer, small business, or medium-sized company. And with their 30-day free trial (online version), there is absolutely no cost for you to give them a whirl and see what works for you.