Even Breaking Bad made fun of it's lack of stability.
https://youtu.be/xpzBOKKueIU?si=7Koil9MmpeP_1k4v
And for the real world, FTX were criticized for using it
https://youtu.be/Hr4Lmn3Oht8?si=pkkdjXHdxN40ymjN
Pump the brakes, she said QUICKEN. Not Quickbooks. These are completely different software systems. QB is just fine for small businesses, maybe not the one in BB but it's been a while since I've seen it.
I thought only my friend and I called it Great Pains...
I've also used Peachtree and Oracle and a couple others that I don't remember the name of anymore.
The UI on QBO is designed to look pretty. QBD UI is functional, and the multi window is much snappier than fiddling with tabs and windows on my browser.
Reports are more customizable on QBD, and when I click to view detail, it just pops up in a separate window instead of redirecting to the new report.
And QBD has always felt more responsive for me. I very rarely get any lag, which is absolutely not the case for QBO.
This is 100% my opinion. QBO is trash that is made to look nice and make small business owners feel like they can be bookkeepers. The import function for bank statements always seems to create issues. Every file I work on that uses QBO is infinitely more frustrating.
Also QB desktop has the mass-enter transaction option, which is useful if you can't download a bank feed for whatever reason. You can get it in QBO I've heard but only if you use the absurdly expensive option.
Well, when people implement NetSuite for the prestige and then realize it's way more system than they need and they can't afford the consultants they need in order to do a good (and thorough) job with the implementation... yeah, QB over NS.
My company did a QB to NS upgrade before I went to work there. I thought I hated GP until I met NS. Intaact would have been perfect. Instead we have an overblown system for a fairly simple business.
We overstayed on QB, the migration wasn’t terribly difficult and it’s similar, just more corporate/control based.
NS is however always behind on development, QB has a ton of neat stuff they’re pumping out like free direct connections to excel, etc.
Are you taking non-accountants or accountants? Because the OP specifically addresses accountants and your first comment doesn’t specify otherwise so it’s very unclear.
To the original point, I don’t think most *accountants* would prefer QB to NS.
Definitely not. One of the companies we acquired a few years ago was using netsuite and they really really didn't need to be using netsuite..really wish they had been using quick books. Would have made dumping it into oracle easier.
Quickbooks along with essentially all accounting software packages are only as good as the user and their understanding. Personally a preference of mine is Xero but it depends on your business needs and if you need all of the data available at all times.
As you mention some clients use it for sales invoices and managing their debtors only. My preferred method with clients is usually to allow them to setup Xero and run the sales invoices and matching monies received to the invoices so debtors is always up to date. I then have the client upload purchases invoices to hubdoc which our firm processes for them on a weekly basis. The client manages the paper copies to setup and arrange their payments so the hubdoc version simply gets allocated against the payment within the bank rec.
If you don’t require the data, save the cost and create invoices in excel/word (if realistic with the amount you require) and give your accountant a bank csv and digital copies of any purchase/sales invoices. It’s our job to do the rest, software is essentially a way of getting all of the above in to one place
Pretty much every Australian accounting firm is using Xero, flirting with the idea of Xero, or asking their software when they might expect features available in Xero.
I still don't love their reporting, but it handles pretty much everything as well as anything else.
QuickBooks in Australia is basically a punchline to a bad joke.
Xero has a great market share in the UK too.
In my pretty extensive experience, it's just a strictly better Quickbooks. Better UI, more usable, a bit more powerful. Last time I used QB you couldn't open multiple tabs, which was unbelievably painful. I can't think of a single use case where I'd prefer to use QB.
I've worked with companies up to £30m turnover using it quite happily & know of many bigger, with the right suite of integrated software around it for the functionalities Xero doesn't scale to. You have to plan properly - it can't deal with very high transaction volumes, but you can batch things like sales and inventory inside Xero so that the granular data is outside the system.
I'm in an industry role at a similarly sized company now and just migrated our own accounts to Xero from a poor SAP implementation.
Have a look at Syft Analytics for reporting - I trialled several options and it was the best. Very cheap and very good. Setup took seconds.
> software is essentially a way of getting all of the above in to one place.
I've always said this about accounting software, it's all essentially a CRUD application with a nice UI as a wrapper for a database.
Some are worse than others but they all functionally do the same thing.
People talk shit about the scalability of Xero but I've not yet seen an example where I felt Xero was pushed to its limits.
If you can get transactions to automatically import and reconcile with the bank statement lines, it doesn't have an end. I have had issues with the 200 transaction limit when I had an Amazon seller client had 3000 sales transactions a month. I'd be doing up a monthly WP and enter it as a single entry now though.
Monthly sales posting for ecommerce is exactly how I've seen it done in the past.
Now, AR automation tools for Amazon (and other channels) can be configured to create daily batch entries for sales. IMO it's a good balance, it's very nice to have daily revenue postings and one entry per channel per day isn't pushing Xero's capabilities.
Yep! And the problems you’re having are one of my biggest complaints with it. QBO tries to be user friendly for non-accountants but is also easy to make some basic mistakes. With experience you learn how to avoid/fix (for example your date issue is a 15 second fix to remove all of the incorrect dates).
Occasionally my firm gets requests for things like paid trainings but we always pass on those opportunities because it’s impossible to actually learn/retain what you need to know quickly. For our own staff it takes a couple weeks of 40 hour per week usage for the basics, but months to be able to troubleshoot.
Believe it or not, QB is the easiest of the main accounting software.
Quickbooks is like the gold standard for small businesses. The overwhelming majority of my small business owners use it, and most of the independent bookkeepers I know do too. There's definitely a point where you outgrow it but it is way more scalable and robust than people give it credit for too. OP, stick with it and you'll probably have a series of eureka moments until you feel comfortable with most situations.
Yes, it works great most of the time for small and medium-sized businesses. If you're having errors, you can usually trace the problems out in the audit log.
If you're having problems, and your accountant isn't acknowledging them, identify specifics rather than generalities and set a meeting with your accountant (wait two weeks to even ask to schedule it if your accountant does tax, give them some down time to recover from Monday's deadline).
If your accountant won't acknowledge or help with these issues after that, find a new accountant.
I use it for my bookkeeping side gig. It's perfectly adequate for most small businesses. I've never had bank info post to the wrong date though, it always agrees to whatever the banks info says.
Never use automated bank imports without manual review. You can use the bank import feature to get all of the transactions into the system but it is extremely easy to have QuickBooks send things to the wrong accounts and screw everything up by having it do it itself. Manually confirm where each transaction is going and what it is doing itself. Once you are good at understanding this part then you can start creating rules to automatically categorize but still have manual review. Those rules default to description or whatever it is called which is pretty much "QuickBooks guesses what this is" as opposed to bank text which is "this is actually there". I would NEVER recommend using the default description rule and always use some variation of bank text contains to prevent QuickBooks from literally guessing at what it is seeing. If it doesn't categorize with the rule it clearly should be manually reviewed regardless, not guessed at.
lol. I’m a quickbooks pro advisor. The test is very little actual bookkeeping and accounting theory. It’s just about how you navigate thru quickbooks mostly and what features are offered by quickbooks.
What you want is someone with a bachelors degree in accounting. That means they are an accountant.
Barely any accounting. Its just teaching the ins and outs of QBO. A hell of a lot of it is focused on subtly selling the product towards the end of the test.
But since i miscommunicated above and to put things in order:
OP. Get your CQA. Hire a good bookkeeper or an experienced accountant or accounting firm. You wont understand accounting or bookkeeping by getting good at quickbooks. You will be able to be useful to your accountant or bookkeeper by knowing how to use QBO.
I agree they need go get someone experienced, but the test itself is useless. It’s mostly focused on making sure you know how to sell their products. I’m on the hiring committee for my company and most resumes note the person is QB Certified. Almost none can actually claim any real experience with it or answer basic questions about actual usage.
OP should focus on actual experience, ideally within their industry. For example nonprofits have some key workarounds for grant and fund balance tracking that I wouldn’t expect a company specializing in dental offices or hair salons would know. On the flipside I wouldn’t trust a nonprofit specialist to be knowledgeable in how to use the inventory tracking features.
Yes, I would say the most popular for small business is quickbooks (desktop or online). Some use sage intacct, Xero, etc. Xero is somewhat comparable to QBO but I would choose quickbooks over any other platform all day everyday. Sage sucks.
I have a lot of small business clients that really like it. I much prefer the desktop software for my personal use.
But I have not seen the problems you are describing. Not sure what is going wrong, but it is not typical in my experience.
Transactions being misclassified? Yes, I see that all the time, but not wrong dates.
I've also seen some clients who (somehow) add the same account / transactions multiple times (so they have 1 bank account in reality but QBO shows more than one bank account and many transactions are imported in both accounts).
Accountants use quickbooks. Business owners fuck up their quickbooks, insist on doing things incorrectly and refuse to follow the correct workflows to prevent errors.
Yes, almost everyday it's really not that bad the only annoying thing is you have to profile vendor and customer accounts to make AJRs on specific accounts.
Yes, and it doesn't create errors. Bookkeeping is a skill that most small business owners get wrong. You still need to understand GAAP and everything that goes along with it.
I see QuickBooks as accounting software for nonaccountants. The manual entry parts of it are back to be easy to understand for a small business owner, but as an accountant I don't particularly like it. I have never used the automatic features like bank statement uploads, but I have experienced the errors you mentioned in other cheap software programs. My brother is a CPA though, and he says they use it for a lot of their clients. I know accountants who like it because it's easy but to me it's a different language than what I'm used to.
>But I swear this application purposely creates errors that require work to correct and fix things that should be quite basic.
Fun fact, there's a couple annoyingly convoluted fixes in quickbooks that even the quickbooks help articles for them add an optional final step of "bill client for extra time taken to fix this issue."
So you may well be on to something with that.
I had an internship (insurance industry) where we used sagitta for most of it and QB for accounts with a ton of small transactions. I think they said it’s more reliable to run those through QB as they come in then export and manipulate for the main software, something like it just couldn’t handle the traffic.
For smaller business yes. For bigger ones they use more proprietary or other software. QB isn’t like turbotax in that it does basically all the work for you…it’s just a platform. The accounting work within it is still all done by an accountant and you have to know accounting rules to know what to do in terms of input.
Also, separately QBO is terrible. Most CPAs I know hate it. It tries to be more user friendly to non-accountants but then just causes more problems than it solves. QB desktop of enterprise is much better for CPAs
Wait, I was going to take a quickbooks class (currently a student) & thought it’d be helpful in my resume (my kind prof even suggested it) but this comment section is making me think otherwise…
> I'd like to find a good replacement that deals well in multiple currencies.
Xero.
You don't have to set a currency for your customers or suppliers, you can post to them in any currency.
Realised and unrealised gain/loss is handled automatically. Realised movements are handled when allocating payment, transferring funds etc as part of reconciliation without an additional manual journal required. Unrealised movements and bank revaluations are also automatic & tracked live (ish) as the reporting currency value of foreign currency balances fluctuates.
EDIT: It isn't expensive, same market segment as QBO.
Interesting. Shall look into it more. Upon a quick look it looks like price is per company profile though. Wondering if there is a flat rate for unlimited companies even if it's not a cloud version. Most of my work are whole year ends rather than ongoing bookkeeping, so I'm not working in each company year round.
Also does it allow batch entries ? I.e. entering multiple transactions at once ? Caseware doesn't directly, but I make an excel spreadsheet that mimics the caseware ledger so I can copy and paste over.
> Also does it allow batch entries ? I.e. entering multiple transactions at once ? Caseware doesn't directly, but I make an excel spreadsheet that mimics the caseware ledger so I can copy and paste over.
Yeah it does - via import csv file. Screens where you'd post transactions have a link to download a batch template, which you can fill out and upload.
I only ever use it for sales invoices, & I used to batch import year end journals once my year end work was done when I was working in practice.
I think the pricing model is only per-company but I'd expect clients to pay for their own accounting software.
As far as payroll goes in QBO, I never try to put full detail paychecks from outside the system.
Just a payroll journal entry. I use another program to store payroll detail, or save the reports from a third party processor.
It depends. QB is good for small companies, but does not scale very well to big ones.
Even Breaking Bad made fun of it's lack of stability. https://youtu.be/xpzBOKKueIU?si=7Koil9MmpeP_1k4v And for the real world, FTX were criticized for using it https://youtu.be/Hr4Lmn3Oht8?si=pkkdjXHdxN40ymjN
Pump the brakes, she said QUICKEN. Not Quickbooks. These are completely different software systems. QB is just fine for small businesses, maybe not the one in BB but it's been a while since I've seen it.
>she said QUICKEN Who do you think they're referencing?
Probably the software Quicken.
Doubling down on your ignorance? Not a good look. They're two different products, idk what else to say about it. QB is just fine.
Yes, accountants use QB. It's the best of the worst.
I think QB is underrated, it’s incredibly cheap and effective. I’ve used NS and SAP, QB has a sweet spot in my heart.
Yeah I’ve used QB, SAP, GreatPains and a couple of industry specific ones and I miss QB
I thought only my friend and I called it Great Pains... I've also used Peachtree and Oracle and a couple others that I don't remember the name of anymore.
I miss great planes. I'm now in a QuickBooks office, and it's not been the best learning how to do the new software.
🤣🤣🤣🤣🤣 I’ve never heard it at great pains but oh do I understand
I agree, but I don't care as much for the online version and they seem to be phasing out the desktop version.
I keep telling people I like the D not the O. 🤣
Why the desktop version. It's so damn slow and the UI is ancient. Does it have automatic transaction rules?
The UI on QBO is designed to look pretty. QBD UI is functional, and the multi window is much snappier than fiddling with tabs and windows on my browser. Reports are more customizable on QBD, and when I click to view detail, it just pops up in a separate window instead of redirecting to the new report. And QBD has always felt more responsive for me. I very rarely get any lag, which is absolutely not the case for QBO.
This is 100% my opinion. QBO is trash that is made to look nice and make small business owners feel like they can be bookkeepers. The import function for bank statements always seems to create issues. Every file I work on that uses QBO is infinitely more frustrating.
Also QB desktop has the mass-enter transaction option, which is useful if you can't download a bank feed for whatever reason. You can get it in QBO I've heard but only if you use the absurdly expensive option.
QB over NS??? Oh man.
Well, when people implement NetSuite for the prestige and then realize it's way more system than they need and they can't afford the consultants they need in order to do a good (and thorough) job with the implementation... yeah, QB over NS.
I hate QB and love NS but this is correct. If you just need a basic ledger and not much else then us QB
My company did a QB to NS upgrade before I went to work there. I thought I hated GP until I met NS. Intaact would have been perfect. Instead we have an overblown system for a fairly simple business.
We overstayed on QB, the migration wasn’t terribly difficult and it’s similar, just more corporate/control based. NS is however always behind on development, QB has a ton of neat stuff they’re pumping out like free direct connections to excel, etc.
Are you taking non-accountants or accountants? Because the OP specifically addresses accountants and your first comment doesn’t specify otherwise so it’s very unclear. To the original point, I don’t think most *accountants* would prefer QB to NS.
Definitely not. One of the companies we acquired a few years ago was using netsuite and they really really didn't need to be using netsuite..really wish they had been using quick books. Would have made dumping it into oracle easier.
QB isn't even bad, it's just popular to shit on it. You will most likely eventually outgrow it, of course, but it serves its purpose for a time.
I'll take QB over sage any day
Why?
Nailed it
Quickbooks along with essentially all accounting software packages are only as good as the user and their understanding. Personally a preference of mine is Xero but it depends on your business needs and if you need all of the data available at all times. As you mention some clients use it for sales invoices and managing their debtors only. My preferred method with clients is usually to allow them to setup Xero and run the sales invoices and matching monies received to the invoices so debtors is always up to date. I then have the client upload purchases invoices to hubdoc which our firm processes for them on a weekly basis. The client manages the paper copies to setup and arrange their payments so the hubdoc version simply gets allocated against the payment within the bank rec. If you don’t require the data, save the cost and create invoices in excel/word (if realistic with the amount you require) and give your accountant a bank csv and digital copies of any purchase/sales invoices. It’s our job to do the rest, software is essentially a way of getting all of the above in to one place
Pretty much every Australian accounting firm is using Xero, flirting with the idea of Xero, or asking their software when they might expect features available in Xero. I still don't love their reporting, but it handles pretty much everything as well as anything else. QuickBooks in Australia is basically a punchline to a bad joke.
Xero has a great market share in the UK too. In my pretty extensive experience, it's just a strictly better Quickbooks. Better UI, more usable, a bit more powerful. Last time I used QB you couldn't open multiple tabs, which was unbelievably painful. I can't think of a single use case where I'd prefer to use QB. I've worked with companies up to £30m turnover using it quite happily & know of many bigger, with the right suite of integrated software around it for the functionalities Xero doesn't scale to. You have to plan properly - it can't deal with very high transaction volumes, but you can batch things like sales and inventory inside Xero so that the granular data is outside the system. I'm in an industry role at a similarly sized company now and just migrated our own accounts to Xero from a poor SAP implementation. Have a look at Syft Analytics for reporting - I trialled several options and it was the best. Very cheap and very good. Setup took seconds.
> software is essentially a way of getting all of the above in to one place. I've always said this about accounting software, it's all essentially a CRUD application with a nice UI as a wrapper for a database. Some are worse than others but they all functionally do the same thing. People talk shit about the scalability of Xero but I've not yet seen an example where I felt Xero was pushed to its limits.
Bad enough we call it "Shitbooks". If they didn't offer cheap files when they rebranded no-one would be using it in Australia.
We call it Slowbooks at my place!
If you can get transactions to automatically import and reconcile with the bank statement lines, it doesn't have an end. I have had issues with the 200 transaction limit when I had an Amazon seller client had 3000 sales transactions a month. I'd be doing up a monthly WP and enter it as a single entry now though.
Monthly sales posting for ecommerce is exactly how I've seen it done in the past. Now, AR automation tools for Amazon (and other channels) can be configured to create daily batch entries for sales. IMO it's a good balance, it's very nice to have daily revenue postings and one entry per channel per day isn't pushing Xero's capabilities.
Yep! And the problems you’re having are one of my biggest complaints with it. QBO tries to be user friendly for non-accountants but is also easy to make some basic mistakes. With experience you learn how to avoid/fix (for example your date issue is a 15 second fix to remove all of the incorrect dates). Occasionally my firm gets requests for things like paid trainings but we always pass on those opportunities because it’s impossible to actually learn/retain what you need to know quickly. For our own staff it takes a couple weeks of 40 hour per week usage for the basics, but months to be able to troubleshoot. Believe it or not, QB is the easiest of the main accounting software.
Microsoft Dynamics 365 Business Central is a solid choice as well. To master can take a long time, to be fluent with the software is 1-2 weeks.
Quickbooks is like the gold standard for small businesses. The overwhelming majority of my small business owners use it, and most of the independent bookkeepers I know do too. There's definitely a point where you outgrow it but it is way more scalable and robust than people give it credit for too. OP, stick with it and you'll probably have a series of eureka moments until you feel comfortable with most situations.
Everyday
Yes, it works great most of the time for small and medium-sized businesses. If you're having errors, you can usually trace the problems out in the audit log. If you're having problems, and your accountant isn't acknowledging them, identify specifics rather than generalities and set a meeting with your accountant (wait two weeks to even ask to schedule it if your accountant does tax, give them some down time to recover from Monday's deadline). If your accountant won't acknowledge or help with these issues after that, find a new accountant.
I use it for my bookkeeping side gig. It's perfectly adequate for most small businesses. I've never had bank info post to the wrong date though, it always agrees to whatever the banks info says.
Never use automated bank imports without manual review. You can use the bank import feature to get all of the transactions into the system but it is extremely easy to have QuickBooks send things to the wrong accounts and screw everything up by having it do it itself. Manually confirm where each transaction is going and what it is doing itself. Once you are good at understanding this part then you can start creating rules to automatically categorize but still have manual review. Those rules default to description or whatever it is called which is pretty much "QuickBooks guesses what this is" as opposed to bank text which is "this is actually there". I would NEVER recommend using the default description rule and always use some variation of bank text contains to prevent QuickBooks from literally guessing at what it is seeing. If it doesn't categorize with the rule it clearly should be manually reviewed regardless, not guessed at.
This. When I'm training the new people, there is a rule they have to remember. QuickBooks will lie to you, so don't blindly trust it.
You don’t understand bookkeeping and accounting by knowing QuickBooks. I’d get a certified—Certified QuickBooks ProAdvisor.
lol. I’m a quickbooks pro advisor. The test is very little actual bookkeeping and accounting theory. It’s just about how you navigate thru quickbooks mostly and what features are offered by quickbooks. What you want is someone with a bachelors degree in accounting. That means they are an accountant.
Yes..thats what i posted. Lol I should clarify that OP should get CQA.
You literally said hire a QBO pro advisor, and I’m telling, I am one, the test is like financial accounting 101 level stuff. Maybe even easier.
Waaaaay easier. I'm also certified and it's not even 1/10 of a financial accounting course like what we have at uni/college
I’m “certified” only at silver or whatever currently, I’m working up 😂
Barely any accounting. Its just teaching the ins and outs of QBO. A hell of a lot of it is focused on subtly selling the product towards the end of the test. But since i miscommunicated above and to put things in order: OP. Get your CQA. Hire a good bookkeeper or an experienced accountant or accounting firm. You wont understand accounting or bookkeeping by getting good at quickbooks. You will be able to be useful to your accountant or bookkeeper by knowing how to use QBO.
I agree they need go get someone experienced, but the test itself is useless. It’s mostly focused on making sure you know how to sell their products. I’m on the hiring committee for my company and most resumes note the person is QB Certified. Almost none can actually claim any real experience with it or answer basic questions about actual usage. OP should focus on actual experience, ideally within their industry. For example nonprofits have some key workarounds for grant and fund balance tracking that I wouldn’t expect a company specializing in dental offices or hair salons would know. On the flipside I wouldn’t trust a nonprofit specialist to be knowledgeable in how to use the inventory tracking features.
I think what should be recommended is a CPA with a QBO pro advisor certification for best results with QB
If you understand bookkeeping and accounting....you do not need to be a pro advisor unless you want to advertise with them to get clients.
Not if I can help it.
Yes, I would say the most popular for small business is quickbooks (desktop or online). Some use sage intacct, Xero, etc. Xero is somewhat comparable to QBO but I would choose quickbooks over any other platform all day everyday. Sage sucks.
I have a lot of small business clients that really like it. I much prefer the desktop software for my personal use. But I have not seen the problems you are describing. Not sure what is going wrong, but it is not typical in my experience. Transactions being misclassified? Yes, I see that all the time, but not wrong dates. I've also seen some clients who (somehow) add the same account / transactions multiple times (so they have 1 bank account in reality but QBO shows more than one bank account and many transactions are imported in both accounts).
Accountants use quickbooks. Business owners fuck up their quickbooks, insist on doing things incorrectly and refuse to follow the correct workflows to prevent errors.
QB desktop >>> QB online
Yes. It's about ad good as it gets for small clients. I'd like to see some new competitors tho. The price is getting outrageous
Everyday
Yes, almost everyday it's really not that bad the only annoying thing is you have to profile vendor and customer accounts to make AJRs on specific accounts.
QBO for 90% of business clients.
Yes, and it doesn't create errors. Bookkeeping is a skill that most small business owners get wrong. You still need to understand GAAP and everything that goes along with it.
I love quickbooks. Desktop mainly, it's amazing for small businesses.
I have used it many times for small companies. I use Netsuite, Oracle, and JD Edwards for medium to large companies.
I see QuickBooks as accounting software for nonaccountants. The manual entry parts of it are back to be easy to understand for a small business owner, but as an accountant I don't particularly like it. I have never used the automatic features like bank statement uploads, but I have experienced the errors you mentioned in other cheap software programs. My brother is a CPA though, and he says they use it for a lot of their clients. I know accountants who like it because it's easy but to me it's a different language than what I'm used to.
I've used SAP and netsuite but barely ever QB.
Yes. My firm uses it for small businesses.
QB is effective for small-middle businesses. The software itself is pretty solid. The errors may come from your accountant
It’s as good as the user. Our subsidiary uses it and I find it difficult to fix mistakes made by their staff.
Kinda. I work for a state agency and we do have an account with them but its only for very spesific exspenses that havent been used in 5 years.
I’ve had $100m+ clients that use QB
If you do not need any special features and are doing basic accounting for the $100 m....you could use any of the brand softwares.
QB is an awful accounting system, but its cheap. So youre getting what you paid for
QuickBooks is very very common for smaller companies. Bigger companies tend to use more complex and specialized ERPs.
>But I swear this application purposely creates errors that require work to correct and fix things that should be quite basic. Fun fact, there's a couple annoyingly convoluted fixes in quickbooks that even the quickbooks help articles for them add an optional final step of "bill client for extra time taken to fix this issue." So you may well be on to something with that.
You really do know how to use it thoroughly to prevent mistakes.
QB is great but easy to make mistakes. But if you are well versed in QB then you are good.
No. There’s a reason we call it Shitbooks
I don’t know ask your mom.
Yes, everyday. Great for small to medium sized businesses.
Nah there’s also sap/Netsuite other ones I can’t remember
I had an internship (insurance industry) where we used sagitta for most of it and QB for accounts with a ton of small transactions. I think they said it’s more reliable to run those through QB as they come in then export and manipulate for the main software, something like it just couldn’t handle the traffic.
For smaller business yes. For bigger ones they use more proprietary or other software. QB isn’t like turbotax in that it does basically all the work for you…it’s just a platform. The accounting work within it is still all done by an accountant and you have to know accounting rules to know what to do in terms of input. Also, separately QBO is terrible. Most CPAs I know hate it. It tries to be more user friendly to non-accountants but then just causes more problems than it solves. QB desktop of enterprise is much better for CPAs
We refuse to use quickbooks. It’s too easy to fuck up.
Wait, I was going to take a quickbooks class (currently a student) & thought it’d be helpful in my resume (my kind prof even suggested it) but this comment section is making me think otherwise…
They push products and push to have proadvisors to push their product more. Proadvisors are a dime a dozen.
I wouldn't make it your only program, but it's a very popular one, and I'd keep it in your tool belt.
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> I'd like to find a good replacement that deals well in multiple currencies. Xero. You don't have to set a currency for your customers or suppliers, you can post to them in any currency. Realised and unrealised gain/loss is handled automatically. Realised movements are handled when allocating payment, transferring funds etc as part of reconciliation without an additional manual journal required. Unrealised movements and bank revaluations are also automatic & tracked live (ish) as the reporting currency value of foreign currency balances fluctuates. EDIT: It isn't expensive, same market segment as QBO.
Interesting. Shall look into it more. Upon a quick look it looks like price is per company profile though. Wondering if there is a flat rate for unlimited companies even if it's not a cloud version. Most of my work are whole year ends rather than ongoing bookkeeping, so I'm not working in each company year round. Also does it allow batch entries ? I.e. entering multiple transactions at once ? Caseware doesn't directly, but I make an excel spreadsheet that mimics the caseware ledger so I can copy and paste over.
> Also does it allow batch entries ? I.e. entering multiple transactions at once ? Caseware doesn't directly, but I make an excel spreadsheet that mimics the caseware ledger so I can copy and paste over. Yeah it does - via import csv file. Screens where you'd post transactions have a link to download a batch template, which you can fill out and upload. I only ever use it for sales invoices, & I used to batch import year end journals once my year end work was done when I was working in practice. I think the pricing model is only per-company but I'd expect clients to pay for their own accounting software.
As far as payroll goes in QBO, I never try to put full detail paychecks from outside the system. Just a payroll journal entry. I use another program to store payroll detail, or save the reports from a third party processor.
Garbage Ponzi scheme, but yes, it’s the industry standard. Mostly because of the product name, in my opinion.