Accounting Software
There are myriad options from
which to choose, and obviously, the selection of any
software will be based upon a particular client’s needs.
The software of choice for most small businesses,
however, still remains QuickBooks, which we will
highlight in this section.
QuickBooks
is a series of accounting software programs developed by
Intuit specifically to help owners of small businesses,
who may have no previous accounting experience, but wish
to manage most of their own accounting processes.
Common areas of accounting covered by the system
include:
- Bookkeeping
- Cash flow control
- Tracking of expenses
- Purchase order
processing
- Entering of sales
receipts
- Preparing and sending of
invoices
- Preparation of basic
financial statements and reports
- Inventory management
- Sales tax tracking and
payment
QuickBooks is simple to use with
familiar-looking data entry forms, such as invoices. It
is very intuitive with screens that look just like their
paper-based equivalents.
Latest Developments
Intuit has recently improved QuickBooks so that
it has remote, web-based access to key accounting
functions such as payroll, electronic payments, and
online banking and reconciliation. There are also
web-integrated, non-accounting related functions, such
as Microsoft Outlook and Outlook Express email.
Other improvements include marketing options through
Google and mapping via Google Maps. QuickBooks now
allows for the import of Excel spreadsheets, as well as
providing for additional pre-authorization of electronic
funds and further employee time-tracking options. In
addition, QuickBooks Enterprise Solutions can run on
Linux, as well as on Windows servers.
QuickBooks Online
Edition
QuickBooks
Online Edition is web-based, so that it can be
used anywhere there is internet access. It allows
tracking of sales, invoice creation, and expense
monitoring. In addition, online banking, payroll, and
time-tracking capabilities make it the ideal complete
accounting system for small businesses.
By paying a monthly subscription fee, the user accesses the software exclusively through a secure log-on through a web browser, either Internet Explorer or Mozilla Firefox. It can even be accessed via web applications on an iPhone and BlackBerry. Intuit securely hosts all of the user's data and regularly provides automatic software upgrades.
Your Austin accountant will use the latest
software to keep you apprised of IRS changes