QuickBooks, developed by Intuit, is the dominant accounting software for non-accountants. It is a fairly intuitive flowchart-style interface. Most reviewers, including expert reviewers, agree that it is the best accounting program for small business owners.
If your business is anything but the most basic, small, home-based business, you should probably move up from Quicken Home and Business to QuickBooks Accounting Pro Edition.
If you have a business that sells products, however, this edition of QuickBooks is not for you. It does not track inventory or give you the ability to create purchase orders.
A nice feature is the Company Snapshot, which is a single screen overview of your business’ vital statistics.
Quicken Pro does offer online banking; though Intuit says that only a very small percentage of users actually use this feature. That’s hard for me to believe given the number of people who actually bank online. There are some glitches with the online banking setup and no real support from Intuit. The support is from Live Community where other users answer your questions. Intuit should be more helpful, particularly with set-up issues for the online banking feature.
All in all, QuickBooks Accounting Pro Edition 2009 is a nice upgrade and the only real software that is intuitive enough and reliable for non-financial small business owners who sell services rather than products. I think it's worth the money for the small business owner, though you may want to move up to a more advanced QuickBooks product at a later date.
Friday, December 4, 2009
Quicken Home and Business 2009 Accounting Software
Quicken Home and Business 2009 is a good product for small business owners who run their business out of their home. You get the features found in Quicken Premier plus small business tools. One excellent feature is the ability to track both personal and business income and expenses using one software tool.
You can utilize online banking for business and personal accounts, including investment accounts, credit cards, and loans. You can also track your business expenses paid with a personal account, though it is always the best idea to pay business expenses with a business account.
One extremely nice feature is that the software tracks your business tax deductions and allows you to export it to Intuit’s TurboTax product to prepare your taxes. You can also use the Business tab to monitor your Profit and Loss Statement all year. This product is suitable for individuals and individuals with small home businesses or a self-employed professional such as a consultant.
You can utilize online banking for business and personal accounts, including investment accounts, credit cards, and loans. You can also track your business expenses paid with a personal account, though it is always the best idea to pay business expenses with a business account.
One extremely nice feature is that the software tracks your business tax deductions and allows you to export it to Intuit’s TurboTax product to prepare your taxes. You can also use the Business tab to monitor your Profit and Loss Statement all year. This product is suitable for individuals and individuals with small home businesses or a self-employed professional such as a consultant.
Before You Buy Accounting Software
Using an accounting software package in your small business can simplify your life. This is true only if you choose the right accounting software package. You want a package that meets your needs. You don't want a package more complex than you need or with fewer features than you need. Before you buy an accounting software package, take a look at these tips.
Determine Which Features you Need in Your Accounting Software
Is your business small and do you run it out of your home? Are you the only employee? Are you a self-employed professional with an office in your home? If you can answer yes to these questions and you have no employees, you need a simple accounting package. You might look at accounting software that combines your personal and business finances. If you want to bank online, be sure that is included as one of the features. If you have employees, you need an accounting package that does payroll.
Make Sure the Software Fits Your Type of Business
If you sell a product or products, make sure your accounting software program can generate purchase orders and keep track of inventory. If you have a service business, you will need to keep track of time and billing.
Check out the Learning Curve
Some accounting software package are simpler to use than others. All have a learning curve. You have to invest some time in learning to use your accounting software package and, if you have employees, they have to learn it as well. Will you have to pay for training or can you learn the package yourself? Do you have to have more than one user license for your employees to use the software? This is another important question to answer.
How Good are the Support Features?
Does the accounting software package have a 24/7 support telephone line? What about online help? Do you get a good print manual? How long do you have to wait on the telephone if you need help? Support features are very important in choosing any kind of software.
Determine Which Features you Need in Your Accounting Software
Is your business small and do you run it out of your home? Are you the only employee? Are you a self-employed professional with an office in your home? If you can answer yes to these questions and you have no employees, you need a simple accounting package. You might look at accounting software that combines your personal and business finances. If you want to bank online, be sure that is included as one of the features. If you have employees, you need an accounting package that does payroll.
Make Sure the Software Fits Your Type of Business
If you sell a product or products, make sure your accounting software program can generate purchase orders and keep track of inventory. If you have a service business, you will need to keep track of time and billing.
Check out the Learning Curve
Some accounting software package are simpler to use than others. All have a learning curve. You have to invest some time in learning to use your accounting software package and, if you have employees, they have to learn it as well. Will you have to pay for training or can you learn the package yourself? Do you have to have more than one user license for your employees to use the software? This is another important question to answer.
How Good are the Support Features?
Does the accounting software package have a 24/7 support telephone line? What about online help? Do you get a good print manual? How long do you have to wait on the telephone if you need help? Support features are very important in choosing any kind of software.
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