Quickbooks Premier. The good, the bad and ugly.
Overall Satisfaction with QuickBooks Premier
- I really like the Portable Accountant file. Many of our clients who use this program internally like us to review their work but they can't shut down their financial operations while we are working on the file. The split that the accountant copy generates allows us to work on the historical data while the client can continue with current and future transactions.
- I like the import feature. We do our payroll through ADP and can export a file from there and import it into QuickBooks. Doing the financials for our internal payroll takes about a minute.
- The ability to add additional accounts or subaccounts is also a very nice feature for us internally as well as our clients.
- The program takes a very long time to load. It'd be nice to be able to open it quicker as myself and my staff are somewhat inefficient while waiting for the program to load. Probably one of the longest hold times we have for any software.
- Our clients are constantly receiving payments when an invoice has not been generated. This results in a negative A/R. QuickBooks needs to alert the user to this so this can be avoided.
- When a group of checks is deposited and one bounces, you have to undeposit the entire lot and redeposit those that did go through. Should be a way for you to go in and just select the one that did not credit.
- Since our financials are kept very up to date, it helps us compare our financial results to prior years and it is used for our internal goal setting.
- Due to the accountant copy function, we are able to provide better service since our clients are not waiting on us to fix historical data. They can continue their operations uninterrupted.
- The import feature certainly speeds up the process of accounting for our payroll. As previously mentioned, it takes about a minute to do our entries for payroll and check them.
I like the import feature and it does a good job on report generation and reconciliations. I also like the accountant copy functionality. The examples above have never really come in handy for us; but whatever industry they are in; we do have the ability to do the financial accounting using a similar set of input screens which all of us here are accustomed and feel comfortable using.
- 50% to 75% of my clients
Some of our clients who are small don't use an accounting software because they can reconcile everything on Excel. They also don't have any employees so that QuickBooks is probably not needed for them. The rest of our clients, we recommend QuickBooks. However, some do not use it because they have an industry specific program which has some financial functions. What we've found is that these financial functions, whether it be general ledger capabilities or even payroll; are fairly subpar. So, we recommend that they use this industry specific program for inventory, revenues, etc...and then do the whole financial statement and accounting function in QuickBooks.
So, the questions I ask are:
1) What's your company size and how comfortable are you with excel reconciliations?
2) Do you run payroll?
3) Do you have an industry specific program?