Is QuickBooks good accounting software?


There is a reason that QuickBooks has a 90% market share in the small and medium sized business demographic.  The software is inexpensive, user-friendly for non-accountants, flexible, and capable of creating just about any information needed.  Even poor data entry can normally be cleaned up easily by those of us who have become QuickBooks Pro-Advisors.   

QuickBooks has many features which allow highly efficient and effective data entry.  The use of QuickBooks “items” allows similar transactions to be recorded very quickly such as a sale transaction.  For instance, invoicing is very easy using items, as the item, if set up correctly, will automatically list the description, price, sales tax, and remove the item from inventory.  QuickBooks also has “classes” which are very useful.  One use would be to provide a class code for each store location.  Then with the flick of a button, you can easily track operating performance by location. 

Bottom line is that there is no downside to using QuickBooks.  If you outgrow it, that’s a good thing as it means you have been very successful, and you have not overspent for accounting software in getting there.

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