Section I: Software Overview
Here the software I am reviewing is QuickBooks Premier Software. I am using it to manage my hotel business. It is designed and developed by Intuit Inc.’s Company mainly to manage accounting operations such as payroll, inventory and sales. The main features of QuickBooks range from customer management, supplier management to supplier management. The daily operations include marketing tools, merchant services, product and supplies, training solutions. All its functions and modules are customized according to the organization designed for.
The system is designed with the latest technology especially the interfaces to enable users navigate and perform tasks easily. It includes the following versions
Simple Start Plus Pack,
QuickBooks Pro,
QuickBooks Premier Contractor
QuickBooks Enterprise Solutions
Each of the above named versions is designed to meet individual customer or vendor’s problem and the organization size for instance Simple Start Plus Pack is designed for evaluation and purpose while QuickBooks Pro is designed for relatively mid-sized organization and both QuickBooks Premier Contractor and QuickBooks Enterprise Solutions are designed for big organizations.
QuickBooks Accounting Software package monitors expenses in an organization, creation of invoices, managing employees and even generating reports on sales and purchases. They also ad tracking and realizing change orders and job status, and also manage inventory, customers, vendors
SMW’s current accounting information system is a cutting edge relational database system through Microsoft Access with internal controls set to adequately prevent and detect errors and fraud. This relational database system tracks sales orders, shipments, accounts receivable, cash receipts, purchases, accounts payable, cash disbursements, inventory levels and other relevant accounting information. The system’s output is compliant with Generally Accepted Accounting Principles (GAAP). The database processes currently in use at SMW are described below.
In order to ensure responsible accounting practices Peyton Approved will be investing in QuickBooks Pro; this accounting software will allow us to make sure all the steps are being followed correctly. We have also hired Fusion Group; Fusion Group is an accounting firm that specializes in new business owners to help with the accounting process. As a company we are also taking classes to get a better understanding of accounting, getting an understanding of why the accounting cycle is important, what the numbers mean for the company, whether or not we are in debt, we owe money, but also being able to get a true sense of the monthly profit (Scheid, J., (2011).
Preferred Consulting will install QuickBooks 2015 Pro software on your computer’s hard drive. Next, we will setup Cutting Edge as a sole proprietor organization that is engaged in service and product sales, so the software knows how to account for all the transactions and taxes your company may incur during the year. Then we will enter your customers, vendors, supplies, and inventory that your business uses to conduct daily operations. Every transaction your business performs will be entered using the appropriate section of QuickBooks Pro 2015, and the amounts are automatically distributed to the selected chart of accounts. The chart of accounts records every transaction that is entered and keeps running totals of revenues, expenses, equity, liabilities and inventory.
A person with the right personality and attitude can influence other 's, and I feel I 'm a great example of that. My personal ambition to reach new heights has also motivated me to apply for the staff position on Skyblocky.
In QuickBooks all you need to do is enter the accounts receivable amount into the individual customers list in the receivable section. QuickBooks does the rest for you rather than having to write in the individual debits and credits yourself.
When considering which operating system for a home or business office computer or network of computers, it is important to evaluate all areas of the different operating systems options. When evaluating Microsoft Windows XP, Microsoft Windows Server 2008, and Linux operating systems it is important to consider the system requirements, the different editions available, security features, system features, updates and support, user interface, and cost effectiveness. Depending on what a person’s or organization’s needs are will determine which operating system is best fit.
Regardless of what is needed, whether it be accounting and bookkeeping, reporting, compliance assistance or another task, the team can be of help. The firm makes use of Quickbooks and Xero Certified ProAdvisors to allow clients to keep track of their business and gain valuable insights with regard to how to move forward. Payroll is one task they take on, and the firm ensures the best accuracy and value keeping to make certain the client keeps up to date with all filings. In addition, they assist international clients looking to start an enterprise in the United States with their E2 Visa Business plans and handle S1 and quarterly filings for OTC stock market
QuickBooks and Sage 50 Accounting are both great options for small business accounting. These programs help manage business finances which can drastically save time that may have been spent creating Excel spreadsheets and more. However, while both programs are sufficient for small businesses, the programs differ based on what they can offer your company.
Accounting Information Systems The Crossroads of Accounting and IT by Donna Kay, Ali Ovlia Instructor’s Solutions Manual
Good business accounting softwares do a few things well: Track income and expenses, manage estimates, invoices and customer payments, and give you a clear year-end financial reports. Really large accounting applications also allow you to create and manage inventory and track the cost of goods sold. FreshBooks excels in almost all these areas, but only has 19 reports. Although this is much less than you find in most office accounting
QuickBooks. Intuit utilizes a value-based pricing strategy with discounts for direct sales of the QuickBooks accounting software product line. Similar to the TurboTax lineup, QuickBooks has increased pricing for increased complexity of business needs and add-on features available at the time of purchase or later.
It provides the most comprehensive tools for small business financial management. It is used to track expenses, prepare and send invoices, prepare financial statements, track inventory levels, and many other jobs that small businesses must perform to stay successful. New versions like Simple Start for new businesses and Enterprise version for larger businesses is currently out on the market available to purchase. Besides the desktop software, QuickBooks is offering an online version which is hosted though the online edition.
QuickBooks is a software used by many small businesses and is designed to help manage payroll, inventory, sales and other needs of a small business. The new accounting software is more cost-effective than other existing ones and deters the need for a personal accountant. It’s simpler to use and will be of value for the business and the salesmen behind it. QuickBooks helps with everyday organization like keeping up and managing cash flow, invoicing, reports, taxes and payroll through your computer or phone screen. The software's main purpose is to alleviate the use of multiple tables and graphs, spreadsheets, and tracking sheets that are necessary to document and maintain accounting tasks for a business. You don’t necessarily need a
Running any sort of business is tough work. You need to manage many things and the margin for error is small. It isn’t any wonder that entrepreneurs have started relying on technology to help with the process of running a business. However, technology doesn’t always come cheap – knowing how to find the right software without paying a penny is essential. If you’re looking free management software, then here are five products you need to start using right now.
QuickBooks has the ability to create a projected balance sheet, profit and loss statement and