Why Quickbooks Accounting Software Still Rules the Financial World?

Somewhere around the 1990s, when QuickBooks debuted in the accounting world, it was probably just the thing needed. Nevertheless, Intuit’s QuickBooks never looked back. Even with the ever-growing list of accounting software making their way to the shelves, the popularity of QuickBooks remains untouched. It would not be wrong to say that the fan-following has only grown over the years, particularly since QuickBooks hosting entered the market.

What Makes QuickBooks So Popular?

A line of reasons can be counted upon to understand what makes QuickBooks the first choice of many. First and foremost, the software is easy to learn and use. With little training, business owners who have no prior experience in using accounting software can navigate through QuickBooks software with ease. On the other hand, the software can also be integrated with a number of add-ons and tax software to further simplify and amplify the business accounting process.

Intuit has always been one step ahead to ensure all business needs are met. Since QuickBooks is particularly intended for small and medium-sized businesses, it is but natural that firms will outgrow QuickBooks once they expand in size. To make sure the users continue to enjoy the software in the long run, the software comes in three different versions- Pro, Premier, and Enterprise. Hence, covering a large customer base at one time.

QuickBooks: Ruling The Accounting Market For The Longest Time Now

As discussed above, there is more than one reason that makes QuickBooks the most desirable option. Let’s dissect them one by one:

QuickBooks Saw The Impact of the Cloud and Reacted In Time

Even though multiple claims suggest that Intuit took its time to move QuickBooks to the cloud, the reality is they took things slow and steady. Where, on one hand, QuickBooks hosting gained popularity, Intuit released QuickBooks Online. Although hosting QuickBooks on the cloud has more positives compared to QuickBooks Online, Intuit did its bit in staying upgraded and up-to-date.

Change Is Not The Only Constant

QuickBooks has constantly been serving a multitude of users for many years. QuickBooks comes in different versions, namely Pro, Premier, Enterprise, and POS; it is cloud compatible, and Intuit has also released an online version to ensure all customer demands are being met. Over the years, QuickBooks has bagged for itself a market share of more than 85% and the numbers are only growing.

QuickBooks Keeps An Open-Mind and Encourages Out-of-the-Box Thinking

Talking about work culture and the R&D done by QuickBooks, out-of-the-box thinking has always been welcomed. Employees are allowed to question, give suggestions, experiment, and go out of their way to bring in innovation. The work culture has quite obviously left a great impact on how things have turned out for QuickBooks over the past two decades of being in business. It still shares a major market share, defying all odds and cut-throat competition.

QuickBooks and Small Businesses Go Hand in Hand

QuickBooks has proved to be a real boon for small businesses. Changing the common belief that technology can only be afforded by the large business houses, QuickBooks was affordable and easy to procure for small businesses as well . And, quite obviously, the decision to migrate QuickBooks to the cloud has made the accounting software all the more pocket-friendly. There is also an umpteen number of online tutorials, videos, and guides to help small businesses troubleshoot on their own.

QuickBooks is a complete software

Although QuickBooks is accounting software, it also has an internal tax accounting feature. So, users can enjoy the dual benefits, both of accounting as well as tax preparation from a single software. You can create, export, and print various tax forms on your QuickBooks software. It can also be integrated with several tax preparation software such as ProSeries, Turbo Tax, etc to streamline processes during the tax season.

In Conclusion: Is QuickBooks All That A Small Business Needs?

Not necessarily. No matter how important technology may be for you, the knowledge, experience and understanding that comes from a human cannot be replaced. Business owners need valuable advice at every step, making it necessary to hire a CPA. A professional can help formulate strategies, make business predictions, and be a guide while expanding the business, which is currently not possible with accounting software. The best combination, thus, would be to hire a professional as well as use accounting software such as QuickBooks to streamline the process. Even better would be to use QuickBooks with hosting.