QuickBooks For Small Business Pros & Cons

QuickBooks For Small Business Pros & Cons

Not every small business can hire on an accountant to handle the books. If you, like many business owners, have taken on bookkeeping responsibilities yourself, there are many tools you can take advantage of to make your job easier. QuickBooks is one such tool. This accounting software is designed to cover small business needs. Some people love the program while others want nothing to do with it. Read on to learn more about why (or why not) you should give QuickBooks a try.

Pro: It is Inexpensive

Hiring an employee to keep track of your books forces you to pay a hefty salary. QuickBooks, on the other hand, is only a fraction of the cost of an employee. You can find the basic software package for less than $200, or pay monthly for as little as $12.95 a month. The monthly plan gives you added flexibility – pay for it and use it only as you need it instead of buying the full package (or paying for an employee).

Con: It is Finicky

Many QuickBooks customers complain that the program can be difficult to set up. It may take hours to get it running on your computer. Once running, the program can crash or run frustratingly slowly. If you use the online version, outages are possible, putting a crimp in your workday.

Pro: It Has a Strong Support Team

If you do have trouble getting QuickBooks to run, you can take some small comfort in knowing that the program is accompanied by a large support network. QuickBook’s support center will go out of their way to make sure your concerns are addressed, including reaching out through social media and product review sites. Because it is one of the most popular accounting software used in small businesses, there is also a large support network of everyday users. You may be able to find someone who has experienced the same problem you’re having without needing to contact customer service.

 Con: Upgrades Can Be a Hassle

QuickBooks puts out upgrades on a regular basis, offering new features and better performance. Unfortunately, many people would rather do without these upgrades as they are often a hassle to install. Changes to graphics and formatting may make you feel like you have to learn a new program all over again. The upgrades can be expensive too, especially if you try to keep up to date by installing each one as it comes out.

Pro: It Increases Productivity

One of the most common reasons for installing QuickBooks is to help increase productivity. In this area it certainly delivers. The program makes it much easier to negotiate accounts receivable and payable functions. You can easily create invoices, inventory reports, manage time entry, and more. Add-ons let you take care of payroll and help organize during tax season. Most versions of the program allow multiple users to access the information, giving you added flexibility. QuickBooks brings many different accounting tasks into one place, making it simple and easy to oversee your business’s finances.

Con: Lack of Flexibility

QuickBooks is designed to be easy to use. This is a huge plus to some people, but for accountants with their own methodologies it can be frustrating. You may be limited in how much information you can enter into the system and you will hit a limit to how many people can realistically use the program at once. Using this program limits you to the services it provides – if there is a feature you want that it doesn’t have, you are out of luck.

Depending on your specific wants and needs, QuickBooks may be the accounting software for you. You may also find its faults unacceptable, in which case you may wish to look at other programs. Despite its downsides, however, QuickBooks is a popular program that has helped many small businesses handle their accounting needs.

Sarah Jackson is an Associate Editor at Proformative.com.