![]() ![]() We should also mention that QuickBooks includes better features for automating common bookkeeping tasks like payroll, customer statements, and finance charge calculations. ![]() QuickBooks, for example, includes an inventory feature and a fixed asset tracking system. Also, if you need to use accrual basis accounting to accurately measure your business profits, or you need to keep detailed records of what the business owns and what it owes, you need QuickBooks.įinally, if you need to keep detailed records of anything besides cash, you need QuickBooks. If you need more forms-customer receipts, purchase orders, customer statements that show finance charges, and so on-you need QuickBooks. But Quicken works really well for service businesses-especially small service businesses. This means that it doesn’t work for businesses that own inventory. When you need to use QuickBooks instead of Quickenįor all practical purposes, Quicken produces only two business forms: checks and invoices. If you think about these tasks and then the requirements of your business, it’s pretty easy to choose the winner in a Quicken vs. Stated most simply, your accounting system should perform (and perform well) three easy-to-understand tasks. In other words, your accounting system should be able to tell you with a mouse click how much money you have in the bank, which customers owe you money, and what inventory you’ve got stocked on the store, warehouse, or shop floor.
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December 2022
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