If you are accrual basis, QuickBooks will create an accounts receivable account and accounts payable account. Using QuickBooksĪt the initial set up of QuickBooks you decide whether your business is cash or accrual basis. This feature is what makes QuickBooks such a strong platform for running day-to-day accounting operations. At the push of a button, balance sheets and profit and loss statements can be produced for any time frame along with comparative reports to prior years, quarters or months. This is very beneficial to a start-up entrepreneur who wants to see where the expenses are going, what revenue is being generated, and tracking the profitability of the business. What makes it so attractive is the program is relatively easy to use by someone with minimal accounting experience. QuickBooks seems perfect for small to medium sized businesses as well as start-up businesses. This gives me a wide range of diverse companies, using many different versions of QuickBooks, in order to view how the program is working for them on a day-to-day basis. Most of this information is from my personal experience of working with many different versions of QuickBooks in the setting of a CPA office. Let’s look at the use and misuse of QuickBooks in small businesses today and see what we can glean from the information. It quickly became the most popular prepackaged accounting software for small to medium sized businesses and still retains the title today but, in my opinion, not for long. QuickBooks was released in 1994 as a “double entry” accounting software. One of the top selling accounting software packages is Intuit’s QuickBooks. Prepackaged Accounting Software for general consumption has come a long way in the last 20 years.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |