K2 Enterprises Review of QuickBooks

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Accounting Software World
An Independent Review of Today's Top Accounting and Financial Management Solutions

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Randy Johnston Editor-In-Charge - Dr. Bob Spencer Editor-At-Large

QuickBooks – Intuit

http://quickbooks.intuit.com

Category: General Accounting - Class: Entry Level

Best Fit

· Small business 1-25 employees with general accounting needs

· Light manufacturing and average cost only inventory

· Simple Point-of-Sale add on solution

Strengths

· Simple visual interface with interactive tutorials

· Large number of add-on products and services

· Industry specific versions for Manufacturers, Wholesalers, Professional Service Firms, Contractors, Non-Profit entities and Retailers

· New relational database supports larger number of transactions

· Apple MAC specific version

Brief Product Description

Small businesses use QuickBooks for most financially related business processes, from entering sales receipts, tracking expenses, preparing and sending invoices, sales tax tracking and payment, preparation of basic financial statements and reports, and inventory management. The program also includes MICR check printing and options for employee payroll and time tracking. For most tasks, QuickBooks does not require users to understand standard accounting procedures. Most transactions are recorded using on-line screens that closely resemble paper-based forms such as invoices or checks.

· QuickBooks may be purchased on one of several versions

Simple Start for very simple business needs money in – money out, $99.95
Pro includes inventory, quotes, over 100 financial reports, up to five users, starts at $199.95
Premier includes everything in Simple Start and Pro, plus tracks costs for assembled products and inventory, creates sales orders, track back orders, more advanced reporting and industry specific implementations. Up to 5 users and starts at $449.95.
Enterprise Solutions has everything in Premier plus some. Visit the web site for a detail feature list. Supports five to twenty users and starts at $3000.00.
QuickBooks Online Plus is a Software as a Service (SaaS) solution for small business desiring a web-based solution. This version is not the same as the boxed version and may not include some of the features. Review carefully before implementing. QuickBooks Online is a subscription service starting at $34.95 per month. For a comparison visit http://oe.quickbooks.com/compare.cfm
QuickBooks for the Mac support the MAC OS, some Windows features may be missing. Pricing starts at $199.99.

Technical Specifications

· Windows and MAC versions

· Versions of this product are available in many different markets. Intuit's Canadian & U.K. divisions offer versions of QuickBooks that support the unique needs of each region, such as Canada's GST or PST sales tax and the U.K's Value Added Tax (VAT). Reckon Ltd ( Australian Securities Exchange(ASX):RKN) under license from Intuit, publishes versions for the Australian, New Zealand and Singapore markets. Version 2008 has enhanced support for Irish VAT reporting.

· QuickBooks 2006 forward uses the iAnywhere database from Sybase.

Integration with Accounting and Ease of Setup

· For most tasks, QuickBooks does not require users to understand standard accounting procedures. Most transactions are recorded using on-line screens that closely resemble paper-based forms such as invoices or checks.

· The product is very easy to install and can be done so without technical support or a professional accountant in many cases.

Representative Client List (if available)

· QuickBooks Accounting Products are entry level solutions and has a very long list of users. As such, there is no list provided.

Company History and Contact Information

· Company was founded in 1983 by Scott Cook and Tom Proulx, more detail can be found at http://en.wikipedia.org/wiki/Intuit#History

· QuickBooks is available for purchase through a number or retail outlets such as Best Buy, Circuit City, Office Depot and Staples or via the Internet.

· QuickBooks Sales & Service Representatives are available to answer non-technical questions about a current QuickBooks product or service order, or if you need more information before you buy. Call toll-free (888) 246-8848 weekdays from 6 A.M. to 6 P.M. Pacific Time, or you can chat online with a Sales & Service advisor weekdays from 7 A.M. to 4 P.M. PT. http://support.quickbooks.intuit.com/support/Default.aspx.

Commentary (The following is provided by the Editor with notes and comments from others.)

CONTINUING PROFESSIONAL EDUCATION FOR ACCOUNTING AND FINANCIAL PROFESSIONALS

The information provided herein is not warranted in any way and is subject to change without notice.

We recommend that you confirm information contained herein with the appropriate manufacturer or reseller.

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