The uses of QuickBooks as a business tool are limited only by your imagination. But deciding on a QuickBooks version can be somewhat like choosing different ice cream flavors. All are good but some may not be the right fit for you.
If your business is truly mobile and you need to have access by multiple users in multiple locations, you can use the online version. The first 1-3 users cost around $20 per month. The earlier online versions were somewhat limited but the 2007 version provides almost all the features of QuickBooks Pro.
Processing time may be somewhat slower than using in-house software if your internet connection is slow. But the monthly fee allows you to access the latest version without paying for upgrades. This is a great option for mobile businesses or service businesses that have users in multiple physical locations.
If you're just getting started with accounting software and don't plan to use QuickBooks for payroll, you may want to consider the new Simple Start version. The retail cost is around $100 and this version can perform all other basic accounting functions.
You can't have multiple users with Simple Start. This is the "no-frills" option and good for many small or home businesses. It even gives you the option of adding credit card processing for an additional fee.
If you plan to use QuickBooks for payroll, you need to purchase QuickBooks Pro or higher. QuickBooks Pro is the best option for most small businesses at a cost of about $200 retail per copy. You can add multiple users by purchasing additional copies and can perform all but the most specialized accounting functions.
If you would like reports and charts of accounts pre-set by industry, QuickBooks offers a variety of premier versions. These have more advanced inventory assembly functions as well as functions for business plans and forecasts.
The premier version was offered on the QuickBooks Web site for about $340, discounted from the regular almost $400 retail price when I wrote this. If you're a contractor or manufacturer that wants to use QuickBooks for inventory or a professional service provider that needs to set up multiple billing rates, you should invest in the premier version.
If you are a new QuickBooks' user, the extra bells and whistles in the premier version probably are not worth the extra cost unless you would like a specialized pre-set chart of accounts.
For quick and easy accounting solutions to manage your business, use saas accounting software.
About the Author:
Cheryl L. True is a Manila-based freelance writer who writes on a variety of topics.
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