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What Is QuickBooks And How Does It Work?

Intuit’s QuickBooks accounting software offers solutions for managing personal, business, and tax finances.

Several editions of the desktop software are available for Windows. The Mac version, as well as the online version, are also available.

Invoicing, payments, accounting, and more can be automated with QuickBooks. It is easier to manage and track business finances with these features so in this blog we will describe the QuickBook and the way to use it.

What is the process of using QuickBooks?

You can use QuickBooks Online either on a monthly or annual basis. You will have access to features based on the type of business you own once you sign up. There are also desktop versions available.

Designed for freelancers, small, and medium-sized businesses.

QuickBooks Online integrates with other Intuit products. In addition to TurboTax (for preparing personal income tax returns), ProConnect (tax software for accountants) is also available.

In addition, it integrates with a wide range of other software packages and apps. Among these are those that manage charitable donations, scheduling, time tracking, document management, payment processing, and inventory management.

Users can manage and automate a wide range of business processes using these integrations and compatible tools.

You can take advantage of a free 30-day trial before you pay. It’s a good opportunity to learn what QuickBooks Online can do for your business.

There are different versions of QuickBooks

QuickBooks is compatible with most devices, but each version has slight differences. Check the software’s compatibility with your device and operating system before making a decision.

QuickBooks for Mac

The only QuickBooks desktop product available for Mac users is quickbooks for mac. It works well for most small businesses that don’t manufacture products, and it is very similar to QuickBooks Pro. Learn more about QuickBooks for Mac in our article.

QuickBooks Desktop

QuickBooks Desktop is available in six versions: Pro, Pro Plus, Premier, Premier Plus, Enterprise, and QuickBooks for Mac. You must install software on your computer for each.

QuickBooks Premier is ideal for businesses in manufacturing, contractors, retail, or nonprofits. QuickBooks Enterprise is designed for large businesses. Custom charts of accounts and industry-specific reports are included in these industry-specific versions of QuickBooks Desktop.

Plus versions of Pro and Premier are billed annually rather than as one-time purchases. The annual membership includes the new edition every year, unlimited customer support, and off-site backups.

In our QuickBooks Desktop comparison article, we compare the different versions of these products.

A hosting provider can also help you be more productive with QuickBooks Desktop. Through QuickBooks hosting, you can access your desktop software from anywhere. Take a look at our list of the best QuickBooks hosting companies.

Also Read- Tech business economy crisis

QuickBooks Online

With QuickBooks Online, you don’t need to install any software. QuickBooks offers multiple subscription levels, including Simple Start, Essentials, Plus, and Advanced. For businesses without complicated job-costing requirements, it’s ideal. With QuickBooks Online, you can access your data from any computer with an internet connection.

QuickBooks Self-Employed

In addition to freelancers and real estate agents, QuickBooks Self-Employed is ideal for independent contractors like Uber and Lyft drivers. As with QuickBooks Online, it’s a cloud-based product that can be accessed from any computer with an internet connection. Among its unique features are the ability to track business and personal expenses from the same bank account and transfer data to TurboTax.

QuickBooks Self-Employed calculates your estimated quarterly tax payments and reminds you when they’re due. It offers three pricing plans: Self-Employed, Self-Employed Tax Bundle, and Self-Employed Live Tax Bundle. 

Other QuickBooks Products

QuickBooks is one of the leading accounting software providers in the market today, with supplementary products to enhance your QuickBooks experience. The following are among them:

  • QuickBooks Online: QuickBooks Online is the fastest-growing cloud-based version of QuickBooks.
  • Payroll management is made easy with QuickBooks Payroll. With QuickBooks Payroll and QuickBooks Online, you can easily track employee hours and billable time.
  • QuickBooks Live: With QuickBooks Live, you can hire a ProAdvisor to assist you with your bookkeeping needs.
  • QuickBooks Payments: Integrate payments seamlessly into QuickBooks Online. Process online payments easily and get paid quickly.

Bottom Line

The most popular accounting software for small businesses is QuickBooks. In addition to online editions, it is also available as a desktop application that can be installed on your computer. You can use QuickBooks to keep track of your income and expenses, pay your employees, track your inventory, and simplify your taxes.