QuickBooks

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.

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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.

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Margaret Rouse

Margaret is an award-winning technical writer and teacher known for her ability to explain complex technical subjects to a non-technical business audience. Over the past twenty years, her IT definitions have been published by Que in an encyclopedia of technology terms and cited in articles by the New York Times, Time Magazine, USA Today, ZDNet, PC Magazine, and Discovery Magazine. She joined Techopedia in 2011. Margaret's idea of a fun day is helping IT and business professionals learn to speak each other’s highly specialized languages.