Best Accounting Software for SMBs

With Quickbooks I can see the overall health of my business. I can track my expenses, sales, inventories, financial reports and other vital information for intelligent decision making.

Pros

The thing I like most about Quickbooks is its completeness. For a small to medium sized business one gets to have a user friendly accounting and inventory system all rolled into one. Add to that its customizable reports suited to ones needed data. Some of these reports which are very vital to a business owner are Daily/Weekly/Monthly and even Annual Sales Report, Inventory related reports, Expenses Reports, Accounts Payables and Receivables, Banking and many more.

Cons

Like any software, or for whatever product that is, Quickbooks also have some flaws. Personally, I would prefer the customization of forms to be more flexible where the user can have more control. An example of this is the addition of additional fields aside from those that are built-in. Another thing i don't like about Quickbooks is its limitation on the number of items and the size of its company file. In a previous company I worked at, I have reached the maximum number of items, thus I was faced with deleting some items, and those items had transactions connected to them. Finally, I suggest Intuit increase the maximum company size because in my experience, when I reached the maximum company file size, the system totally lagged big time.

Great Cloud Solution

After moving my records and my clients record to QBO it has progressed smoothly and I don't think I can ever go back to my old desktop programs.

Pros

I like that I have the option to do small task on my iPhone and being able to access my clients and my own businesses account from any device if I'm away from my office. I really like that my clients and I can work on their companies books in real time together over a Video or audio call.

Cons

The biggest con is if your internet and cellular service is unavailable leaving you with no way to make your deadlines. It's happened.

'Enterprise' Appellation Undeserved

The unfortunate fact is that a QB Company file can become corrupted at any time for numerous reasons, and once corrupted your primary option is to submit the file to the Intuit Data Recovery team, who inform you that their repair effort will take up to three (3) business days, during which time your business operations are effectively suspended. My advice is to consider carefully whether your business can recover from such a disruption before betting its future on QB as a business operations platform.

Pros

QuickBooks does a fine job with basic accounting functions, is relatively easy to use, and the report suite is more than adequate for small businesses.

Cons

QuickBooks Enterprise Manufacturing & Wholesale version simply does not work as advertised, as two examples among many will demonstrate. QB offers 'Advanced Pricing' functionality which enables the user to define and apply pricing rules across their client roster and inventory items list. These rules are intended to allow the QB user to apply a 60% across-the-board discount for clients Ajax and AAA, while clients Acme and Consolidated receive that same discount plus custom pricing on items X, Y, and Z. However, after the pricing rules have been applied and those clients are being billed, changing the invoice or ship date results in the deletion of the shipping cost line-item, and changes to the pricing of items on the invoice. Research with QB support revealed that Advanced Pricing suffers from a bug that was known to Intuit for at least 1 month prior to when I invoked the Advanced Pricing functionality, and a full month later Intuit has been unable to remedy the bug. After invoking the 'Advanced Inventory' feature-set, which automatically creates a drop-ship warehouse site, I learned that product being purchased from a supplier and shipped directly to our client was being removed by QB from the count of physical inventory resident on our premises. Intuit tech support rep's response was (paraphrased) "That doesn't seem right, but I don't know much about Advanced Inventory - you should call back tomorrow morning, as the day-shift staff have more tenure and are more knowledgeable".

QuickBooks Online Review - Power User Perspective

Overall QB Online has been a positive experience, but there are a lot of things I wish I knew before diving in. Payroll has been the source of many issues, and there are certain features that could be easily added that haven't been. Online has streamlined some of our processes a bit though compared to Desktop, and the price is appealing compared to Desktop + cloud hosting.

Pros

QBO is fairly easy to get set up and going. We had a rocky start because we had to import a lot of data from QuickBooks Desktop, and that imported failed the first try. After the second attempt we were in much better shape. We did some cleanup and were good to go in a week. There are still some artifacts that have carried over from Desktop that QBO has no way to clean up, but they aren't intrusive on everyday work. We also love that everything is in the cloud and accessible by up to 5 accounts.

Cons

Once again, the import to Online from Desktop was not the greatest. If you cam, avoid this import and start fresh in QBO. There are also some significant features missing from QBO that can be found in the Desktop version of the software. QBO Payroll also appears to be much more restrictive than Desktop Payroll, and support is not great in this area.

Best accounting solution in the market!

QuickBooks solves almost all the accounting problems in my organization eg; Budgeting, bills payment, reporting, tax preparation etc.

Pros

- The budgeting module is very good as it allows me to keep track of my revenue and expenses as per the budget and gives a whole impression on the organization's performance. - I loved the flexibility of the software when it comes to integration with software from other vendors. - The pricing is awesome especially for small and upcoming businesses. - Very easy to learn and put it in use, so far so good. No crashes, bugs, or hanging. -

Cons

- The software lacks the current business trend features like barcoding and lot tracking. - Limitation on the number of users is also one of the aspects I disliked. - I wished there was the ability to generate other reports apart from the current one which is accounting based only. - As much as it is good for small business as ours, it becomes hard to use when the business grows and become large.