ACCOUNTING

SOFTWARE
RESEARCH

QUICKBOOKS

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FUNCTIONALITY OF THE PACKAGE
QuickBooks is the most widely used small business accounting
software for tracking financial health and managing income and
expenses. It can be used to bill customers, pay bills, generate
reports, and prepare tax returns. QuickBooks offers a variety of
solutions that can be used by anyone, from a freelancer to a small
business.

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HERE ARE THE 9 WAYS SMALL BUSINESSES USE QUICKBOOKS:

1. Create and Track Invoices

2. Keep Track of Bills & Expenses
3. Print Financial Statements for Your Business  
4. Track Employee Hours and Run Payroll
5. Track Inventory
6. Simplify Taxes
7. Accept Online Payments

8. Scan Receipts
9. Track mileage
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LIMITATIONS

 Lack of direct professional support File-size issues/limitations on number of transactions.

 Limitations on the number of users Built with a “small business mindset”.
 Data is not always backed-up so you risk losing information Lacks invoice design tools.
 Limited reporting and transparency of your business health – lack of custom reports.
 Double entry and keying errors across systems and departments.
 Limitations with file size and data, as well as the number of users.
 Generic and impersonal support A standalone application which lacks integration and automation
between other systems.

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 STRENGTHS AND WEAKNESS OF THE
PACKAGE
Strengths
It can make an accountant's work
easier since when you encoded the
data, it can generally be directed in
financial statements such as
balance sheet, trial balance, income
statement, cash flow and etc. To
avoid errors and mistakes, simply
double-check the data you've
entered.
Weaknesses
It's difficult to learn. The simple
interface is incompatible with the
extensive feature set. Some users
claim that it is more difficult to learn
than other online software.
Inventory management is limited.
When it comes to inventory
management, QuickBooks Online is
extremely difficult to use. Third-party
software, on the other hand, can
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Strengths
Free-form invoicing. QBO is popular
among users because of its excellent
invoicing capabilities. They can design
products or services, or enter line
items for a specialized service in free
form. It's simple to use and can be
shared as a link or printed in PDF
format.
Keeping track of your expenses.
Users can create rules to make it
easier to keep track of their expenses.
Depending on the needs of the user, it
can be as broad or as specific as
desired. They have the option of
lumping everything into one broad
expense category or breaking it down
into specifics.
Weaknesses
Some users are concerned that the
online accounting software incorrectly
uses due dates for their next invoice
on occasion. When they change a
category or department in an invoice, it
sometimes clears out all of the data on
that invoice, forcing the user to start
over.
There are issues with synchronization.
Users of QBO have reported syncing
issues with credit card transactions in
the past. It may take a day or two for
the sync to complete. A user also
expressed dissatisfaction with the
platform's tendency to go down more
frequently than it should.
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RECOMMENDATIONS
We know many of us, especially all business owns who want time-
saving and hustle-free software that will help them manage their
business carefully and easily, with the help of accountants, but when
it comes to the financial aspects of their businesses, if they don't
really want to hire an accountant, they can use it and study it, maybe
it's difficult at first, but it's worth it. Because just like what we have
stated above, it is really one of the best accounting software for small
businesses because of its extensive set of features that make
managing accounts and sending invoices simple. QuickBooks caters
to all small businesses with its affordable pricing.
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THANK YOU!
GOD BLESS
US ALL

PAZ, JOHN ACE N.

YAPTANGCO, LEORENCE GENE M.