If you outgrow any service, you can choose to remove or upgrade it as needed. In May 2002 Intuit launched QuickBooks Enterprise Solutions for medium-sized businesses. These four online editions scale from essential basic accounting to more advanced inventory management, reporting and automation.
All these apps integrate seamlessly with each other and QuickBooks accounting software, thus building a well-rounded accounting and payments ecosystem for your small and mid-sized business. Versions of this product are available in many different markets. The QuickBooks UK edition also includes support for Irish and South African VAT.
QuickBooks Products
By managing all of your cash applications of marginal cost inflow and outflow activities in QuickBooks, you can print financial statements that provide useful information about how your business is performing. Lenders often require financial statements when you apply for a small business loan or line of credit. Excel is a spreadsheet program that you can use for multiple functions like creating databases, project management and, yes, accounting. However, creating a solid accounting database in Excel requires a thorough knowledge of how to set up spreadsheets and all the formulas that may entail.
Wave – Free invoicing, accounting, and payments processor. Add on payroll, payment processing, and other extras for monthly fees. Expense tracking – Categorize business expenses for tax prep and reporting. Easily generate professional looking invoices and track payments.
- While we don’t recommend using Excel as your base bookkeeping program, we do have a guide on how to use Excel for accounting.
- It comes in a variety of editions and has web-based and desktop programs.
- Get paid and manage your money with a business bank account.
Top QuickBooks Features and Capabilities
As you accept payment for any item in the inventory, the right expense account is updated and reflected automatically in taxable income. Through the Solutions Marketplace, Intuit encouraged third-party software developers to create programs that fill niche areas for specific industries and integrate with QuickBooks. Invoicing – Easily create customized professional invoices and accept online payments.
Better yet, with QuickBooks Online, you can invite your tax preparer to access your account directly so that they can review your numbers and print whatever information they need to prepare your return. Available in QuickBooks Online Plus and Advanced plans, the inventory management feature helps you track the quantity and cost of your inventory. As you sell inventory, QuickBooks will allocate a portion of your inventory to the cost of goods sold (COGS) automatically, which is an expense account that reduces your income.
QuickBooks Desktop Enterprise
If you operate in multiple international locations QuickBooks allows you to accept payment in local currencies. Of course, it is safer to first check if QuickBooks accepts payment in the currency you deal with. All transactions are recorded automatically as they occur. However, automatic bill tracking does not mean you cannot do that manually. You can directly record a manual transaction easily, whether in cash or check. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.
Retailers, wholesalers, manufacturers, and other product-based SMBs. Find help articles, video tutorials, and connect with other businesses in our online community. Nearly 70% of business owners who have been there, done that, recommend writing a business plan before you start a business. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you.
