Quickbooks Review

Great software package for small businesses. Easy to use, intuitive, and highly flexible.
Quickbooks

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Pros

  • Highly effective at making accounting easy and straightforward
  • Intuitive and simple interface
  • Easy to customise for any type of user

Cons

  • More expensive than other account software packages on the market
  • The number of features may be overwhelming to freelancers
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Introduction

QuickBooks, developed by Intuit, claims to save its users up to 8 hours a month on their business accounts. The software package can take a photo of business receipts as well as using them to go on to create invoices. The software is meant to allow businesses of any size to manage their finances from one app, so that their cash flow improves thanks to timely invoice creation, keeping tabs on expenses more accurately, and making procedures like tracking mileage in your car far easier. The result of all that helps improve the finances of a company and also makes paying taxes a less painful task too.

Price

Plans for self-employed start from as little as £2 a month, for 6 months

Key Feature

Prepare and submit VAT straight from the app

Key features and prices

QuickBooks has a number of features that make it a comprehensive package for those looking to streamline their finances and even automate many parts of it. It can manage your VAT so that you can prepare and submit your VAT return in a way that you can be certain it sticks to the HMRC’s rules. It will also remind you when any VAT payments are due. Users can also run payroll from their app which can really save a sole trader or small business owner a great deal of time and money. You can create payslips from the app as well as send information to HMRC which can manage auto-enrolment for you and help assist with PAYE and national insurance payments.

Additionally, it is possible to accept card payments through PayPal from invoices that you have sent through the app itself. Customers do not even require a PayPal account for this to happen as the app also allows debit and credit card payments too. PayPal offers discounts to QuickBooks users.

If, on top of QuickBooks you still want the help of a bookkeeper or accountant, it is possible to share information and collaborate with them through the same account in the QuickBooks app. On top of that, there is an award-winning support team that can help you with any difficulties you may have. Finally, QuickBooks allows you to analyse all your financial data to help you make better financial choices in the future.

Conclusion

QuickBooks is one of the biggest online accounting software packages around. Sometimes, when packages become so big, it can be at the detriment of the quality of each individual feature. With QuickBooks, users will find that each feature is helpful to them for a couple of reasons.

Firstly, it simply makes their lives easier and quicker. But, secondly, by making it easy, the financial information a company has about itself becomes more accurate and reliable. From there, a company is far more able to make key, critical financial decisions that will be able to improve chances of success in the future. That’s down to the analysis that the package can conduct, thus giving users a better chance of identifying areas of a business that need investment, areas that are working well, and others that may be better to zone out.

Plus, by supporting users with their VAT payments, company owners can be confident that they are staying on the right side of the taxman. The peace of mind that can bring people cannot be underestimated.  It may be one of the more expensive options on the market, but it is for good reason.

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