QuickBooks is accounting software developed by Intuit Inc. for small businesses. It allows users to manage payroll, inventory, sales and other financial tasks. The software requires at least a 1.8 GHz processor, 1 GB of disk space, and 256 MB of RAM. Typical uses of QuickBooks include storing customer and vendor information, tracking sales and expenses, and creating invoices. It has advantages over manual accounting like accurate calculations, saving time and money, and organizing large amounts of financial data. However, it can also be expensive and costly with upgrade fees.
2. Definition
QuickBooks is Intuit Inc’s set of software solutions
designed to manage payroll, inventory, sales and
other needs of a small business. The software’s
features include marketing tools, merchant
services, product and supplies, training solutions.
Each solution is developed according to different
industries and their needs.
3. Requirements
• At least a 1.8 GHz processor,
• 1 GB of disk space,
• 256 MB of RAM for a single user and 512 MB of
RAM for multiple users.
• Additional requirements are dependent on the
desired software package.
• All software that is to be downloaded needs a
high-speed internet connection, Internet Explorer
6.0 or higher and 2.5 GB of free disk space.
4. Uses
The typical uses of QuickBooks include:
•Storing customer and vendor information
•Tracking sales and expenses
•Creating customer invoices
5. • Receiving payments from customers
• Analyzing sales and expenses
• Organizing financial data for tax purposes
6. QuickBooks Vs. manual accounting
• Automatically Calculations
• Reduces or eliminates math errors or mistakes
• Data entry is consistent
• Easy to make Changes
• Searching for information is easy
• Multiple report formats
7. Advantages
• Minimal accounting knowledge
• easy to use
• Accurate calculations of financial data
• Save time and money
• Manage large amounts of financial data
8. • Executes accounting processes automatically
• Offers a variety of products
• Organizes all financial data
• Integration
• Tax benefits
• Check Signing
• Convenient project estimates and billing
9. Disadvantages of QuickBooks
• Expensive and costly.
• Number of releases and features, makes Quick
Books more complicated to use.
• Upgrade Fees
