QuickBooks, boasting over 7 million users globally, has risen as the foremost small business accounting software. Its widespread adoption is attributed to its user-friendly interface, extensive feature set, and ecosystem of integrated apps designed to streamline accounting processes for small and mid-sized enterprises. Amidst a constant influx of newcomers in the market, what distinguishes QuickBooks as the top choice among other options? Let’s delve into the key factors fueling its adoption, with “QuickBooks Considered the Top Choice Among Other Software” as our focal point.
Ease of Use all Across
One of the biggest reasons behind QuickBooks’ runaway success over decades has been its stellar user experience design ethos keeping even non-accounting professionals in mind. This allows small business owners and solopreneneurs to easily set up computerized accounting without needing extensive financial expertise.
The quick start installation wizard guides new users to configure key company particulars, while the responsive in-app assistance surfaces relevant help articles and educational videos aligned to the workflow screen. Features like transaction descriptions being auto-populated based on past history, alerts on potential data entry errors, bulk transaction imports through Excel or CSV further simplify getting started.
Intuitive Navigation
The well-organized interface allows easily toggling between key functional modules like banking, invoicing, payables, reporting etc. using a left navbar. Search bars help quickly lookup past records. Icons and colors are used widely to distinguish between different types of transactions like bills, credits, payments and simplify data entry.
Convenient Mobile Apps
QuickBooks offers mobile apps for iPhone, iPad and Android smartphones allowing users to conveniently stay on top of accounting activities from anywhere. Key workflows around managing invoices, expenses, approvals, payments and checking essential KPIs through interactive reports are accessible using responsive layouts optimized for smaller screens.
For today’s increasingly mobile workforce across small businesses, the ability to untether finance processes from the desktop has proved to be a pivotal factor driving QuickBooks’ adoption, allowing teams to collaborate seamlessly from multiple locations.
Comprehensive Feature Set
QuickBooks Online packs an exhaustive set of accounting capabilities covering financial workflows from managing income/expenses, account payables/receivables, inventory control, invoicing, billing, bank reconciliations, fixed assets depreciations, reporting needs and much more.
For typical small businesses, having a single unified system meeting end-to-end needs avoids the hassle of integrating multiple applications, eliminating tedious duplicate data entry and round tripping delays. QuickBooks empowers generating a holistic financial picture seamlessly factoring different activity happening across spheres of the organization.
Let us highlight some stellar capabilities that have contributed to the solution’s versatile positioning:
Multi-Channel Sales Management
QuickBooks Commerce Sync connector simplifies synchronizing sales orders originating from multiple channels like online marketplaces, brick and mortar point-of-sale systems, mobile/kiosk transactions, telephonic orders etc. into a centralized QuickBooks dashboard reconciling payments, inventory adjustments, taxes and synced in real-time across integrated apps using an open API infrastructure.
Payroll Integrations
Managing payroll seamlessly avoids the need for small business owners to perform additional month-end imports/exports across external systems saving significant time. QuickBooks Payroll caters to businesses with upto 100+ employees with comprehensive capabilities covering paycheck runs, payroll taxes management, e-file compatible forms, direct deposit etc fully integrated into the accounting dashboard.
Inventory Management
For product companies, comprehensive inventory tracking features help easily manage stock levels across multiple warehouses including serial/lot number tracking, bin location assignments, build material lists for kits, automate stock reorder alerts and simplify supply chain planning using historical usage analytics.
Project Management
QuickBooks also offers tailored capabilities for professional service verticals like IT agencies, accounting firms, marketing consultants etc. in tracking billable project hours and resources. Features like ability to capture timesheets, assign rates and bill clients for tasks performed, monitor budgeted versus actual project costs and keeping teams accountable have seen immense traction.
Reporting & Analytics
An intuitive reporting interface allows easily generating frequently used statements like profit/loss, accounts payable aging, billable expenses etc. Leveraging 150+ customizable templates spanning operational KPIs. while smart analytics highlight insights like top customers by revenue, recurring income breakdown, budget variances etc.
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Integrations & Expandability
No software platform can meet every unique need out-of-the-box today. The ability to seamlessly exchange data with other best-of-breed business applications using modern API infrastructure has emerged among the top evaluation criteria for buyers.
QuickBooks checks this box convincingly as well with over 800+ third-party integrations enabling small business owners to connect their existing systems across operations, sales, marketing and synthesize a unified data layer.
Let’s highlight some key app categories available on the SAP endorsed QB App Store:
- Payment Processing: Solutions like Stripe, Square, Paypal to accept customer payments
- Ecommerce: Shopify, WooCommerce, Magento for order management
- Fulfilment: ShipStation, Shippo, for shipping workflows
- POS: Lightspeed, Shopkeep, Square for in-store checkout
- Payroll: Gusto, OnPay, QuickBooks Payroll handle paycheck runs
- Time Tracking: TSheets, Everhour enhance project accounting
- Document Storage: Google Drive, OneDrive, Dropbox integrate document workflows
The breadth of supportive apps here easily rivals that offered by other major small business platforms, underscoring QuickBooks partner leverage available for custom needs.
Specialized Editions and Support
For typical small and mid-sized businesses, QuickBooks Online Plus emerge as the ideal middle ground plan between basic and advanced offerings balancing features, scalability and pricing attractively. But Intuit offers additional packages catering to niche market segments:
QuickBooks Online Advanced
- Ideal for Wholesalers, Manufacturers and Professional Service Firms
- Accountant Partner Access to Support Customers
- Tracks Up To 250,000 Billable Transactions Annually
- Starting Price: $80/month
Key enhanced features include the ability to build custom quotes using pre-defined templates, easily switch between accrual to cash accounting, track income/expenses in foreign currencies. Advanced Reporting provides deeper inventory analysis, job profitability insights and budget trending.
QuickBooks Enterprise
The desktop Enterprise version caters extensively to mature firms with complex workflows needing tighter control and customization at scale with capabilities like:
- Custom Fields and Forms Creation
- Advanced Pricing and Billiability
- Advanced Inventory with LIFO/FIFO costing
- Starting Price: $9,500 one-time
Supporting up to 30 simultaneous users within a network, this version is purpose-built for sophisticated organizations at later stages of business lifecycle requiring extreme performance, tighter controls and niche specializations.
Industry-Specific Tailoring
Catering to over 30 different industries, QuickBooks offers tailored capabilities simplifying processes unique to various sectors including Construction, Non-profit, Farming, Hospitality, Professional Services etc. For example, enhanced job-costing, fund accounting, agricultural tax support etc.
Implementation and Support
Beyond product capabilities, QuickBooks aims at enhancing customer experience through the web of Intuit accountants and over 65,000 part of the QuickBooks ProAdvisor Program. New customers can opt for assisted setup and training during initial installation. Support plans start from $200 per month providing customized uplift across optimizing configurations to match unique needs and workflows.
Ongoing self-help options include direct in-app chat, online community forums and an expansive knowledge base/help documentation covering all features. Together with ecosystem integrators and industry-specific tailoring, QuickBooks keeps itself accessible continuously for the evolving needs of different customer personas.
Security
As business-critical data flows through the accounting system, security is understandably a top concern for CXOs globally irrespective of software choice while weighing options. So how does QuickBooks stack up on this all-important parameter?
Here are key safety protocols to highlight:
- 256 Bit AES Industry Standard Encryption
- Role-based Access Controls
- SOC 1/2/3 Audited Data Centers
- Regular Automated Backups
- Payment Card Industry Validation
Together with multi-factor authentication, activity logging, remote wipe of synced mobile devices and end-user security training – QuickBooks checks most boxes to ensure finance data remains comprehensively secured.
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Why QuickBooks Stands Apart?
In summary, when considering accounting automation platforms in their growth journey, modern small and mid-sized business owners get the best blend of essentials in QuickBooks Online:
- Immense ease of use helping non-accountants get started quickly
- Comprehensive coverage of financial workflows using easy interfaces
- Ability to access and manage finances from anywhere using mobile apps
- Large ecosystem of third-party applications covering operational needs
- Specialized assistance for industry-specific use cases
- Progressive upgrades pathway aligned to evolving needs
- Reasonable pricing tiers suiting variability in business sizes and budgets
Rarely do competing solutions tick all the above boxes in a balanced fashion like QuickBooks does. This unique combination of user experience, feature set, extensibility and accessibility makes QuickBooks Online the go-to solution warranting prime consideration for any small business looking to modernize back-office accounting operations this year.
