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Research >> SoftwareManagementTools >> Intuit Quickbooks Review, Features and Alternatives
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Intuit Quickbooks Review, Features and Alternatives

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Small business entrepreneurs don’t have to be a tax accountant to be able to ensure that their financial reports are in order. Today, things like logging miles, maintaining cash flow and finances, and creating invoices have become one less thing to worry about for entrepreneurs. Even when they are always on the go, they would still be able to manage invoices and everyday expenses without the need to be super stressed about it.  They can choose to download an accounting app and voila! They will have the need they help in making sure that these things are all well taken care of. If you haven’t tried using this app, read further to know more about how this Intuit Quickbooks can make your life as an entrepreneur or as an accountant much easier.

Features

Invoicing

Using Intuit invoice makes creating and sending invoices such a breeze. You can do it online so you do not have to wait until you are in the office to be able to do it manually. Once the job has been completed or successfully delivered, you can rest assured that with the help of Quickbook invoicing feature, your client or customer can immediately send you the payment. Intuit for Mac also has a feature that will allow you to create and send invoices from your Gmail account.

Quickbooks is also designed to be mobile-friendly. This makes viewing the invoice so much possible right at your customer’s smartphones and other mobile devices. Your invoices can also have the addition of a payment button, and this is helpful for people using Intuit for business. This is one great advantage, especially if you are using Square, Paypal and any other third-party payment processor. The inclusion of a payment button will make it easier and faster for your customers to pay you once they receive the invoice from you.

This Intuit Quickbook software will also help you create estimates, and once your customer approves it, all it takes is a single click for it to be converted into an invoice. Therefore, there is no need for you to create a separate invoice all over again from scratch.

Inventory

Quickbook Plus allows business owners to manage their inventory. Its inventory feature also makes managing vendors and creating purchase orders a lot easier. You can add images of  your best-selling products and your inventory items. This feature makes it easier for you to track which among your products are fast-moving. As you create invoices, purchase orders, and estimates, you can immediately see the number of items that are still in stock. The inventory feature of Intuit for business is so helpful for entrepreneurs who are maintaining large quantities of stocks for inventory.

Reporting

Intuit Quickbooks also features multiple built-in reports. These include reports for general ledger, trial balance, aged receivables, and profit and loss. There is also the so-called “favorite” feature that allows users to set their frequently used reports as their favorites. Setting them into favorites will give you quick access to these reports. You can also enable it to automatically run on the schedule you set it so that you can receive email reports. The ability to generate reports is what sets Quickbooks apart from other software designed for accounting purposes. This Intuit for accountants has multiple reports that have been proven to be of great help to entrepreneurs and make them capable of making better decisions. Having this Intuit for small business is one great advantage, given the fact that it can be difficult to come up with the best solution based on factual reports is not an easy thing to do.

Bank-Grade Security

QuickBooks online is equipped with bank-grade security, and this gives entrepreneurs peace of mind knowing that their data is protected. Users may choose to have the two-factor authentication for improved security. Access to information stored from Intuit for business can also be controlled using the user permission settings. This way, users can invite certain people and give them different types of access, depending on the scope of their duties and responsibilities. Plus, users can also activate the audit log which allows them to see who logged into the system and when they logged out of it. All the changes made to your file by those who were granted access are also recorded.

Updated Features

As of June 2020, Quickbooks has made improvements with some of its features to improve its capability in supporting larger reports. Users of Quickbooks online are now given the capability to edit report section titles. This would mean users can now make certain alterations when making balance sheet reports and when making report section titles for profit and loss. Moreover, the personalization tools of Intuit for employees have also been upgraded. Users can now enjoy the scrolling option, which has also been improved for enhanced report data readability and make the entire user experience a lot better.

Pros:

  • Creating basic financial reports is made easy.
  • Easily integrates with many major banks, which makes the process of adding transactions a lot easier and faster.
  • It’s a cloud-based system that provides easy access to your data no matter where you are for as long as you can connect to the cloud.
  • Easy to use interface, which is a good advantage for people who are not adept at accounting stuff.

Cons:

  • Getting online help whenever you have issues is difficult to find.
  • Quickbooks online does not serve well for intricate accounting reports.
  • System crashes
  • File size issues

Alternatives

Xero Accounting Software

Xero Accounting Software

Xero is created by a New Zealand based company. Many businesses use Xero for their accounting needs as they find the software not just good at what it does. But, it is also an affordable software perfect for professional-level accounting tasks. It is known to have avoided the missteps that many people encounter when transitioning to cloud-based accounting software.

Pros:

  • Devoid of those complex finance and accounting jargon
  • Equipped with a reconcile-as-you-go feature
  • Very scalable, which benefits a growing business
  • Features are constantly upgraded and updated automatically.
  • Provides an easy view to your financial position due to its clean interface.

Cons:

  • Cannot be used for Exchange Trade Products or ETPs
  • Tends to become too slow when running on high volume sales
  • Offers only a limited expense claim feature
  • Multi-currency support is also limited
  • Does not have Debtor Chasing capability
Where to buy:

Sage Accounting and Business Management Software

Sage Accounting and Business Management Software

Sage Accounting is from a company known to produce accounting platforms and many other business tools that are beneficial for small and big businesses. If you need more features than just those offered in Sage Accounting Start, you may upgrade to its higher plan. This gives you access to its additional features, including vendor bill tracking, unlimited collaboration, cash flow forecasts, and quotes and estimates. You may also take advantage of either cash or accrual accounting, depending on which one you choose.

Pros:

  • Offers customization opportunities
  • Accounting data can be accessed in one dashboard
  • Switching between different companies is made easier
  • Allows reconciliation of invoices while on the go
  • Plugins and third-party apps can be easily integrated

Cons:

  • Very time consuming to set up
  • Some features are too complicated
  • Not user-friendly
Where to buy:

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