QuickBooks Product Overview

QuickBooks from Intuit is a small business accounting software that allows companies to manage business anywhere, anytime. It presents organizations with a clear view of their profits without manual work and provides smart and user-friendly tools for the business.

QuickBooks syncs with accounts and automatically categorizes transactions. It empowers accounting teams to organize books, manage expenses, send invoices, track inventory, and run payroll. With the software, companies get paid faster by adding payment features.

Organizations can customize the accounting solution to their needs with a variety of tools, including time tracking, cloud accounting, and payment processing. Users can access and manage books from their computer, laptop, tablet, or smartphone.

Pros of Intuit QuickBooks

It enables businesses to send custom quotes and invoices. The platform also supports tracking sales and expenses and sorting receipts.
It automates tasks such as bookkeeping, invoicing, time tracking, sales tax management, budgeting, bank reconciliation, and inventory management.

Cons of Intuit QuickBooks

According to some users, the software is not very intuitive.

Breakdown of Core Features

Collaboration

QuickBooks allows multiple users to log in simultaneously and keeps track of all changes through a detailed activity log. Organizations can give access to bookkeepers, accountants, or employees so that they can log in and work directly with the data online.

Payroll tax management

The software provides automatic tax calculations on every paycheck and updates and pays payroll taxes. It also offers tax penalty protection and can pay up to $25,000 if the business receives a penalty.

Business expense tracking

Companies can connect QuickBooks to their bank accounts, credit cards, PayPal, and Square, and it will import and categorize expenses automatically. Users can also run reports to see how they spend every dollar. The QuickBooks mobile app facilitates snapping and saving photos of receipts. It matches all receipt information to an existing transaction.

Reports

QuickBooks enables creating and sharing a professional summary of finances and small business data with business partners.

Accounting teams can tailor reports to the information that matters most and keep accountants in the loop with email updates. Users can unlock key insights about the business with the revenue stream dashboard. They can also build custom reports and view sales trends.

Additionally, the dashboard gives real-time small business insights with financial statements — like income statements and balance sheets.