QuickBooks is one of the most common solutions in the market for small business accounting. Suitable for small companies, with some packages providing simple inventory management software, QuickBooks offers an introductory accounting solution. However, there are pros and cons to selecting QuickBooks over other introductory solutions or more comprehensive tools, as with any framework. Although the study in this blog was performed many years ago, based on more reviews from more recent sources, today, there are several of the same pros and cons.
Interestingly, you might have found that some of the pros are the same as the cons. The mileage seems to vary greatly. In summary, however, here are QuickBooks’ widely recognised pros and cons.
QuickBooks Pros: There are sure shot pros when it comes to the QuickBooks Desktop software and all these pros are as follows:
- Simple to use and understand
- Integrates well with other frameworks and flexibly with applications from 3rd parties
- Provides good records for accounting
- Low price
- Simple to connect by phone, tablet and computer from any device (depending on the version)
- Simple to identify and correct mistakes
- Simple to look up information about customers
These are the pros that will help you select the QuickBooks Desktop software for your work. However, it is a given that every accounting software has got to be surrounded by various cons that are there mentioned in the next segment.
QuickBooks Cons: It is a given that every computer software has some problems and issues and the cons of QuickBooks Desktop software are as follows:
- Lack of sector and business-specific characteristics (such as lot tracking, eCommerce and barcode scanning)
- Lack of crucial reports outside accounting
- Crashes of instability/system
- Lack of direct professional assistance
- File-size problems/transaction number limitations
- Limitations on the number of users
- Developed with a “mindset of small business”
- Data is not always backed-up, so you risk losing data.
- Invoice creation software for Lacks
- Simple to find a remedy for errors which makes it easy for someone to manipulate your books)
These are the cons that you might come across after purchasing the QuickBooks Desktop software. For new and small businesses, just about everybody will agree that QuickBooks is a perfect introductory method. What (if any) software is required to run the company is one of the most important decisions to make when starting a company.
For the most part, the first purchase of software is based on the need for accounting and financial reporting, and the logical option, in this case, is QuickBooks. It is only as the company expands, and the demands become more diverse than the constraints start to show through. Let’s discuss the drawbacks of QuickBooks briefly:
- Restricted monitoring and company health transparency-absence of custom reports.
- Double entry and keying mistakes across divisions and processes.
- File size and data limitations, as well as the number of users.
- Aid generic and impersonal.
- A standalone programme that lacks integration with other applications and automation.
Inventory Management: In addition to the shortcomings mentioned above, when discussing rigorous inventory management issues, QuickBooks appears to be especially troublesome. QuickBooks can fail to meet your needs if inventory management is crucial to your company.
As a new organisation, essential tools such as Excel and pen and paper may be sufficient to handle inventory and the process of choosing, packaging, and shipping. As order volume continues to increase, the time will come to pursue an effective inventory management software package to replace QuickBooks, including integrated accounting, order entry, processing tools and contact management, etc.
To conclude, QuickBooks Desktop software helps you manage the finances, books and accounts of a particular organisation. The software has been a constant amongst all the leading brands in this market since it got launched. The whole idea behind this blog is to help you understand the QuickBooks Desktop software and also the pros and cons. Hope that this blog was worth the time that you’ve spent while reading it.
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