QuickBooks at ITCL

What is QuickBooks?

QuickBooks is an accounting software package developed and marketed by Intuit. First introduced in 1983, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.

Overview

QuickBooks is a full-featured business and financial management suite complete with tools for accounting, inventory, payroll, tax filing, invoicing, bank account tracking and reconciliation, expense management, budgeting, payment processing, and accounts receivable and accounts payable management.

Frequently Asked Questions

Is QuickBooks being discontinued?

Businesses using the Desktop version of accounting software QuickBooks should be aware that this will be discontinued from 1 February 2023.

Is QuickBooks difficult to learn?

For individuals new to the software and the accounting profession, QuickBooks can present a bit of a learning curve. Employees who are familiar with accounting concepts and similar software, however, may find that QuickBooks is relatively easy to learn.

Can I learn QuickBooks on my own?

You can also receive instructions in accounting or payroll basics. If you have a busy schedule, you can sign up for the self-paced online video training. Once you have received the videos, they are yours indefinitely so that you can learn at your own pace.

Does QuickBooks teach you accounting?

Understanding accounting fundamentals is half the challenge of learning and using QuickBooks Online correctly! This class teaches you the basic accounting principles you must know to get the most from QuickBooks Online. Ideal if you want to learn QuickBooks Online “A to Z” and want to understand accounting basics.

Is there a monthly fee for QuickBooks?

QuickBooks Online Pricing Plans. QBO offers four subscription plans: Simple Start, Essentials, Plus, and Advanced. These plans range from $25/month to $180/month. Each tier gives you access to more features and users.

What’s the difference between Quicken and QuickBooks?

The difference between Quicken and QuickBooks is that QuickBooks is a double-entry bookkeeping system while Quicken is primarily used for managing personal finances. However, Quicken does have features to track income and expenses of rental houses and simple one-person businesses.

Is QuickBooks good for personal use?

QuickBooks Home Accounting and Personal Finance software is among the top home accounting software options as it is user-friendly, cost-effective, helps you track expenses, manage bills, prepare budgets, scan receipts all in one place.

Is QuickBooks a one time purchase?

QuickBooks Desktop is available as a yearly subscription with an additional cost per user. QuickBooks Desktop’s one-time purchase products are no longer available.

What is the difference between QuickBooks Online and desktop?

QuickBooks Online Is Cloud-Based Software: The biggest difference between these two QuickBooks products is that QuickBooks Online is cloud-based and runs using the internet, while QuickBooks Desktop is downloaded and installed on a computer.

Is Intuit getting rid of QuickBooks Desktop?

We only discontinued QuickBooks Desktop for Windows 2018 after May 31, 2021. And, notifications are sent through email before the discontinued date. You can browse these links for additional information about this.

What versions of QuickBooks are supported?

The 6 Different QuickBooks Versions. There are six QuickBooks versions that allow business owners to manage their accounting and finances: QuickBooks Online, QuickBooks Self-Employed, QuickBooks Pro, QuickBooks Premier, QuickBooks Enterprise, and QuickBooks for Mac.

Is QuickBooks similar to Excel?

Business Size: Both are suitable for small businesses, but there are a couple caveats here. QuickBooks is also appropriate for medium-sized businesses, so it can grow as your business does. Excel is suitable for very small start-up businesses.

Is QuickBooks training free?

QuickBooks Online Certification trainings and exams are free to accounting pros and available in QuickBooks Online Accountant. Gain skills to better service your clients while earning credentials that keep your practice growing.

Do you need to be an accountant to use QuickBooks?

QuickBooks stores and analyzes data for you, but you still need a human accountant to give you sound financial advice and to keep up with the latest changes in tax legislation.