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QuickBooks? Best or Beast?

Thompson Accounting Company, PLLC          vthompson@vivianethompson.com          O: (520) 822-8208          C: (520) 481-8015

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QuickBooks is the
ideal accounting software
for small businesses
 and families
  • 1. QuickBooks is very easy to learn and extremely forgiving.
      It is designed to be used by small business owners who are not accountants but who want to or have to do their own bookkeeping. QuickBooks wants to make it easy for you: from the set up to the reporting. It is also very powerful, which is great, however its power is only revealed when useful accounting data is entered.
  • 2. There are very few parts of QuickBooks that can’t be changed.
      No matter what the set up or how long you have been using the software, you can continuously customize it to fit your business needs better. However, retroactive changes may be time consuming because each transaction may have to be adjusted individually. Whether this is true for you will depend on what change you need to make.
  • 3. Almost all mistakes can be corrected - But beware...
      Unlike traditional accounting software, QuickBooks makes it easy to do your daily tasks – even if you know that you are not entering the data correctly. At a later date, the entries can be fixed. However, this amazing ability can also be the source of many problems: that is when you make a change you did not mean to make. Again, it can be fixed relatively easily.
  • 4. It is quick!
      To most small business owners who do their own bookkeeping, saving time is crucial. QuickBooks has many shortcuts that make the data entry faster and more accurate.
  • 5. The search engine is wonderful.
      The software gives you great search capabilities. Once you know how to use the “find” button, you’ll agree it is your best friend – in the accounting world that is.
  • 6. It has great reporting capabilities.
      Once the data is in QuickBooks, it can be used in multiple ways: by the reports already in the system, by new reports you can create yourself, and best of all, downloaded into excel. Most small business owners never use the reports because they don’t know that they exist.
  • 7. QuickBooks is inexpensive.
      There are several versions of the software (Basic, Pro, Premier, Enterprise, and on-line), and versions that are industry specific. Most businesses can function very well with the Pro ($200) or Premier ($400) version. In addition, they can keep using the same version for two or three years without any harm. After 3 or 4 years, it is wise to upgrade to a current version.
  • 8. QuickBooks has integrated payroll.
      Intuit, QuickBooks manufacturer, offers several payroll services from the do-it-yourself version to the all inclusive model which are competitively priced and save the owner a lot of time and energy. With the proper training and set up, the payroll can be done fairly easily.
  • 9. QuickBooks is plugged in.
      The software can process credit cards and has on-line payment capabilities through Intuit (extra charges apply.) It can upload many bank and credit card statements. It can email invoices and client statements. And it works great with Microsoft excel and word.

      Because the software has become so widely used by small businesses, there are many applications that are compatible with it.

  • 10. QuickBooks is portable.
      The software can be installed on several computers (see license restrictions) so that you can work at different locations. Other QuickBooks users, such as your tax accountant, can upload your file onto their computer which makes it very convenient.
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Click on the question for the answer:

Home About Us Services FAQs Useful Links Why QuickBooks? Testimonials Client Login Contact Us

QuickBooks (QB) is the number one software of small businesses providing a fantastic accounting solution to business owners or families with no or little bookkeeping experience or accounting training, yet helping provide financial structure and compliance. The software is truly multi-level, from the most basic checking account function to complex reports, queries and capabilities.

 

For a first time user, the first thing to do is to listen to each of the tutorials found in the Help menu / Learning Center Tutorials. The second thing is to try out the software with real data (your personal checking account for example) and see what the results are. Because the desktop license is user-based, an unlimited number of files can be created including a test company. After you have gained some experience, you can open a real file and start entering the data for your business.

 

Beware: On one hand, QB is deceptively easy, on the other hand, mistakes and using the software incorrectly will lead to serious problems that can be far reaching if not addressed quickly and correctly.  

 

Whether you just want to learn how to download into QB or you believe your file has some issues, our firm is uniquely suited in helping you with your accounting and bookkeeping needs. First, we have intense knowledge of the software based on years of usage as well as attending multiple training sessions where we have learned tricks unknown to most users (including professionals). Second, we treat the software as a means to an end, that is the software must help you run your business better, give you reports that you need, and provide you with useful data, systems and procedures. Lastly, we understand what it takes to run a business and  in our work with you will always keep that in mind.

 

Are you overwhelmed by the software? Are you frustrated by the results? It’s time to call a

consultant who specifically addresses your issues and give you results you want and need.

Call us today for relief!