Definition - What does QuickBooks mean?
Developed by Intuit, QuickBooks is an accounting software whose products provide desktop and online accounting applications as well as cloud-based ones which can process bills and business payments. QuickBooks is mostly targeted at medium and small businesses. Ease of use and reporting functionality makes QuickBooks popular among these users.
Techopedia explains QuickBooks
Intuit has included many Web-based features in QuickBooks, including:
- Electronic payment functions
- Remote access capabilities
- Mapping features
- Remote payroll assistance and outsourcing
- Online banking and reconciliation
- Better mail functionality with Microsoft Outlook
QuickBooks also has help functions and other functionalities like pre-authorization of electronic funds and time tracking options for employees. A cloud solution called QuickBooks Online is also provided by Intuit in which the user can access the software with a secure logon by paying a subscription free. QuickBooks is upgraded and updated on a regular basis by Intuit.
Even for business owners and users who lack financial or accounting background, QuickBooks is generally considered easy to use and understand. Another benefit of QuickBooks is in the availability of ready-to-use templates to create charts, business plans, invoices and spreadsheets. It can also help save time and effort for business owners by automating their signatures (which is scanned and uploaded for use) on business checks. Integration with other applications is also a big advantage of QuickBooks. It has a user-friendly interface and can guide users through each of its features.
Although QuickBooks is one of the most widely used brands of accounting software, some other brands of software are considered to provide more transparency in calculations, better audit trails, lesser upgrade fees and better deletion history than QuickBooks.