QuickBooks - An Introduction

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QuickBooks is the most popular accounting software for accountants, Bookkeepers and Businesses developed by Intuit. This presentation explores some of the basics of QuickBooks such as what is QuickBooks? Why you should use QuickBooks? What are the different versions of it? What are the various Pros and Cons with QuickBooks? and lot more...

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PowerPoint Presentation:

QuickBooks An Introduction

What Is QuickBooks? :

What Is QuickBooks ?

PowerPoint Presentation:

QuickBooks is an accounting software package developed by Intuit® which not only opens the gateway to easy accounting but also offers a complete financial sphere through quick integration with multiple add-ons. Thousands of small companies, nonprofit organizations and CPAs use QuickBooks to keep their finances on track.

Why QuickBooks? :

Why QuickBooks ?

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Bookkeeping – QuickBooks allows you to track income and expenses, create invoices and statements , sync with bank accounts, credit cards and many more. Invoicing – QuickBooks lets you create, customize, track and send invoices online. Billing – With the QuickBooks you can prepare And send accurate, timely and detailed bills to your customers. Online Bill Pay – QuickBooks helps you to schedule your bills to be paid, record and send them online to payee.

Which QuickBooks Do You Need?:

Which QuickBooks Do You Need?

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QuickBooks comes in a wide range of editions offering solutions to organization as well as individual level. So it becomes necessary to choose the right editions for your purpose. - QuickBooks Pro - QuickBooks Online - QuickBooks For Mac - QuickBooks Premier - QuickBooks Enterprise Solutions Here’s an general summary of what each edition can do:

QuickBooks Pro:

QuickBooks Pro Most popular edition with balanced features. It lets three people to work on a company file at a time and includes features such as – - Create invoices and track sales - Stay on top of your expenses - Gain insights into your business - Track inventory, set reorder points Can handle a combined total of up to 14,500 name list entries.

QuickBooks Online:

QuickBooks Online The next generation QuickBooks based on Cloud Computing You can access the QuickBooks via the Web instead of running it on your Desktop anytime, anywhere. It comes in three different versions but most of the features of QuickBooks Pro. - QuickBooks Online Simple Start - QuickBooks Online Essentials - QuickBooks Online Plus

QuickBooks For Mac:

QuickBooks For Mac Built for Mac Platform. Have same features as of QuickBooks Pro. It lets five people to work on a company file at a time. Can handle a combined total of up to 14,500 name list entries.

QuickBooks Premier:

QuickBooks Premier A multi-user edition to do financial tasks that is supported per industry type - - General Business - Contractor - Manufacturing & Wholesale - Nonprofits - Professional Services - Retail Available in two editions – - QuickBooks Premier - QuickBooks Premier Plus

QuickBooks Enterprise Solution :

QuickBooks Enterprise Solution Designed for larger, growing businesses (including those with several locations) which includes all the features of QuickBooks Pro and Premier Editions, plus solves for more capacity, security, and many other features . Up to 30 people can access a company file at the same time. Can handle a combined total of up to 1 million name list entries.

Choosing The Right QuickBooks Edition:

Choosing The Right QuickBooks Edition QuickBooks comes in a wide variety of editions which differ on price, features, performance, ease of access and functionality. QuickBooks Pro has the balanced features and handles the basic needs of most businesses on the other hand Enterprise Solutions is the most robust and powerful edition with enhanced features . The online editions of QuickBooks offer features that are available any time you’re online.

What's New in QuickBooks 2014?:

What's New in QuickBooks 2014 ?

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Features Description Income Tracker Let’s you easily see the status of your unbilled transactions.   Improved Look and Feel To create a visual differentiation among multiple companies files.   Bank Feeds It allows you to set up the connection between your real world bank account and QuickBooks account.   Record Bounced Cheques This feature lets you deduct money from your account and re-invoice your customer, when the customer’s check bounces.   Email Feature Now It’s very easy to set up multiple email templates for different transactions.   Copy/Paste Feature This feature lets you copy a line in a transaction table and paste it to another line in the table.   Alert/Reminder Now the Home Page of QuickBooks is inbuilt with icons for alerts and reminder which lets you to see the alerts and reminders.   Improved Job Costing Now you can easily filter the reports on the basis of job status. Also Rep field is also added at the job level. Improved Customized View Balances Now you can choose to view balances for all account types.

When QuickBooks May Not Be The Answer?:

When QuickBooks May Not Be The Answer ?

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Track the performance of stocks and bonds : QuickBooks isn’t meant to keep track of the capital gains and dividends you earn from investments such as stocks and bonds . Manage specialized details about customer relationships : if you need to track details for thousands of members or customers, items sold on consignment, project progress, or tasks related to managing projects , a customer-management program or a program like Microsoft Excel or Access might be a better solution . Work with more than 14,500 unique inventory items or 14,500 contact names - QuickBooks Pro and Premier company files can hold up to 14,500 inventory items and a combined total of up to 14,500 customer, vendor, employee , and other (Other Names List) names . For more you have to move to QuickBooks Enterprise Solutions, which is quite costly. Old architecture – Not built with Cloud in mind : QuickBooks has a less flexible web-based architecture in comparison to Xero, FreshBooks and NetSuite.

Conclusion:

Conclusion QuickBooks is the most popular accounting software for SMBs and CPAs so that it is easy to use and full featured. Large number of companies and CPAs turn to QuickBooks to manage their finances on track. And over the years, Intuit has introduced various editions of the program to satisfy the needs of different types of companies . QuickBooks on cloud i.e. QuickBooks Online has been introduced into the accounting world by Intuit letting businesses to manage their finance anytime, anywhere over the web.  

Thank You!:

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References:

References Forbes QuickBooks 2014: The Missing Manual http ://quickbooks.intuit.com / http:// en.wikipedia.org/wiki/QuickBooks http://www.acecloudhosting.com /

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