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The Pros and Cons of QuickBooks
QuickBooks is a popular tool for many small and mid-sized business owners. Although it may be one of the top accounting management products on the market today, there are both pros and cons associated with using QuickBooks, so it’s important to research this software before making a decision for your business.
QuickBooks is a comprehensive accounting software program owned by Intuit and used by many businesses to manage their finances. It allows users to create invoices, record payments and expenses, track customer information, generate financial reports, process payroll, and much more. The software has been around since 1983 and continues to be one of the most popular accounting programs on the market.
QuickBooks can be used for a wide variety of businesses, no matter the organization’s area of expertise. It can easily be integrated with other applications and systems, and it is generally considered to be user-friendly (although some training is necessary in order to use the software).
Nowadays, business is conducted in the office and on the go. QuickBooks can be accessed from nearly any device you may be using, including smartphones, tablets, and laptop computers. If you need to be able to access your accounting software on the road, QuickBooks may be a good choice for you.
One of QuickBooks main features, report generation, is invaluable for any business. Reports are generated quickly and accurately, with data that can be used to make decisions about the future of your business and help you have a better understanding of its financial position. In addition, it is easy to find and address any errors or customer data.
QuickBooks was originally programmed with small businesses in mind. As a result, it has certain limitations that larger organizations may find inconvenient. Depending on the subscription level, there are specific usage limits, which apply to how many billable users, classes, locations, chart of accounts, and tags you can add. Once the limit has been reached, the subscription must be upgraded, which can add unexpected costs to your budget.
Prior to QuickBooks Desktop 2022, the product was available as a one-time purchase; however, a subscription is now required to use the software. If you have multiple busineses, you will need multiple subscriptions. And to note, if you were previously using the Desktop version and decided to give a higher version a try, the action is irreversible, and you need to subscribe moving forward to access your files.
QuickBooks users often struggle to find direct professional support if they have questions about the software. While Intuit does offer customer service, it is difficult to access in a timely manner and will not be familiar with your individual situation. When you partner with an accounting firm like SD Associates, P.C., you will have access to personalized support tailored specifically to your business.
If you are considering using QuickBooks for your business’s accounting needs, we can help. Our team at SD Associates, P.C. has extensive experience working with this software. We can provide the necessary QuickBooks training and support to help your business succeed for years to come. Contact us today at 215-517-5600 to schedule your consultation.
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