Quickbooks is a valuable tool for small and medium businesses
January 20, 2024
Quickbooks is a valuable tool for small and medium businesses
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with QuickBooks Desktop Pro
Quickbooks is used for our company taxes. We have an accounting firm do our taxes, but we use Quickbooks to supply and document the income and payments made throughout the year. Quickbooks is the standard software used by the firm and it simplifies our year end tax preparation as the software allows for easy transition to their system. It also saves time and thus cost.
- It identifies and recognizes the classification of payments made so most of the payments to vendors is automatically filled out by the software.
- Quickbooks also corresponds between accounts so a payment made on a company credit card in the bank account is transferred to the credit card account
- Quickbook allows a multiplicity of reports, such as last fiscal year, or last fiscal quarter etc. It is possible to see it as details or as broad catagories such as travel, or subscription and dues which allows at a glance where funds are being spent
- On occassions when downloading a bank statement or a monthly credit card statement it does not recognize the OFX data, so a new account has to be created.
- With the Desktop model there is no easy way to update after online support ends. For security reasons we do use the online Quickbooks system
- Changing an expense to a vendor is not straightforward. What is needed is a list of expenditures that includes not just one off expenses but the list of vendors too, so that if a one time expense becomes a regular expense it should change to vendor with just a click.