Even if you’re not an accountant with a Masters degree, chances are, you’ve heard of QuickBooks.

Quickbooks is one of the the best known accounting softwares available today. Over the last several years they have continually received praises for their stuff, and have a quality product.

But is QuickBooks a good fit for your business?

Let’s compare and contrast

Anyone who loves making a pros and cons list, you’re little heart is going to overflow with joy (We love it too).

Just a heads up, since there are multiple packages of QuickBooks, we’re going to give a general overview of the software.

[Authors Note: We actually consulted our company accountant for this, we wanted an insider view into what it’s like from a user standpoint].

The pros and cons of QuickBooks

QuickBooks Pros:

  • User friendly
    Integrates with other programs
    Cost efficient
    Great for an SMB

Cons:

  • Not robust software
    Not great for a larger business

That’s a quick summary, let’s go deeper into each aspect.

QuickBooks is user friendly

QuickBooks has the reputation of being a user friendly accounting software. It’s been developed to be great for those who aren’t master accountants. It’s easy to use, even for individuals without accounting backgrounds can figure it out (although, a background still helps dramatically).

Integrates with other programs

QuickBooks can easily work with other programs to make your accounting records smoother. One of the great benefits of QuickBooks is you can take an CSV or Excel file report and integrate it into QuickBooks.

This feature makes your accounting far more accurate and less likely to miss any expense reports. It also allows you to create multiple reports for multiple companies (great for tracking different locations expenses).

Cost efficient

QuickBooks is very affordable for small business owners. Ranging from $9.99 for the basic option, and $39.99 for the more advanced edition. Any small business owner knows that’s a pretty small chunk of change for an essential service to run your business efficiently.

Great for an SMB

This is a bit tied into the points above, but QuickBooks is ideal for smaller businesses since it’s easy to integrate with everyday programs and does require a lot of advance study to use.

When you’re first started our your business, simplicity and ease of use is vital. As you grow, you may want a more complex accounting software, but for starters, it’s a great fit.

Now, let’s get into some of the cons.

Not great for a larger businesses

As much as we love QuickBooks, we can’t honestly say it’s a great solutions for larger businesses.

QuickBooks is limited in what it can or can’t track, and if you’re a company of over 100 employees, or growing close to that, QuickBooks will not serve your company the best.

When you have a company that large, you need an accounting software who can pull off some complicated reports, and QuickBooks is just a bit too simple for that (even the most advanced option).

Not a robust software

Connecting to the above point, QuickBooks does not have some of the advanced software features that a larger business needs to keep running smoothly.

While a more sophisticated program is more expensive, it will better serve the needs of your company and keep track of every cost.

What about the variations?

We love Enterprise edition of QuickBooks, and they are a step above the basic QuickBooks model. It has some more advanced features that your accountant will need to run your company’s accounting. It’s still a user friendly experience, but more suited for those with an accounting background.

QuickBooks Online is the newer edition, and has some benefits, such as being a traveling option. You do not have to be chained to your desk to work on your businesses accounting.

Unfortunately, they are still working out on all the new problems, and some of the in transitions bugs haven’t been worked out yet.

Now, if you’re ready to learn what software’s best for your IT firm

Questions about QuickBooks best practices? Email us to get answers at info@connectbooster.com.