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• Write 500 words that another small business user could use as advice in implementing a computer package such as Quickbooks Online. Essay Example

  • Category:
    Business
  • Document type:
    Essay
  • Level:
    Masters
  • Page:
    1
  • Words:
    718

QuickBooks 2

Implementing A Computer Package in Small Business Organisations

QuickBooks Online

Submission Date:

Introduction

QuickBooks Online is a type of cloud-based business solution that was established by Intuit with the purpose of lessening the workload of accountants such multiple invoicing or management of business accounts. Business information technology integration has gone to the cloud due to the cost advantages that small firms can utilize such as improved security of data and maintenance. Also, online business solutions that are hosted on the cloud enable users to access the services everywhere they go or on any device. Small businesses should shift to QuickBooks Online primarily because it eases the energy and time consumed on redundant manual operations. Thus, the organisation can utilize their employees’ full potential.

Benefits of Using QuickBooks Online

It is so far the best financial option when it comes to accounting packages due to its cost benefits. The organisation can register up to five users who can be logged into the system simultaneously sharing the same set of books. Users will not be concerned about new features as the package offers automatic upgrading. QuickBooks offers mobile applications that enable the user to uniquely customize the program according to the way it suits them without having to incur any extra cost. The cloud storage space ensures that the business data is securely stored where it can be accessed and managed remotely (Matthews, 2015).

QuickBooks offers the user control and ensures that more work is done. The business’s bank accounts can be connected to the software which allows transactions to be downloaded automatically. The users can attach photos of their receipts to reduce the amount of paperwork. In addition, users can link their PayPal accounts, business cards, or import data from other packages (Needleman, 2016). The organisation can track their sales, customer services, incomes and expenses, and tax payments (Lee, 2016). The software offers flexibility because of its ability to allow users to access information from everywhere. Since the books are electronically managed in real time, accuracy is improved. Also, the package can be expanded or downsized without resulting in any additional costs. It offers customer support both through a chat or by phone. Training costs are minimal since it easier to learn and most accounts know how to use it.

Drawbacks of QuickBooks Online

The software depends on the strength of internet access and services can be interrupted during downtime. Its mobile version limits what the user can do because it does not offer all the accounting procedures that some accounts might require to carry out certain financial analyses. The ability to provide consolidated reports is inhibited since the package is not efficient enough in tracing entities separately (Needleman, 2016). In addition, it is difficult to operate some programs such as revenue recognition that might be complex to new users. QuickBooks Online has a limited file size prompting the user to delete information from previous years in order to allow entry of a new transaction which might slow down the whole process (Lee, 2016).

Also, QuickBooks lacks the capacity to handle project accounts such as for engineering, consultancy as well as the construction industries that bill according to hours worked. Conversely, it might not be suitable for government accounting which requires very specific reports and multifaceted bookkeeping (Jessie, 2014). Many people loading transactions at the same time throughout the day can lead to mistakes being made or some data being corrupted.

Conclusion

QuickBooks Online only needs a high-speed network connection and a basic browser to access all the services mentioned above. A majority of businesses are automating accounting processes due to the demand for business solutions that can save them time and money. QuickBooks Online is one such solution that can guarantee the organisation low financial risk, greater flexibility, and efficiency.

Works Cited

Jessie, J 2014, “Australian SMEs still foggy on the cloud – QuickBooks Australia,” QuickBooks Australia Australian SMEs still foggy on the cloud Comments, accessed October 1, 2016, from <http://www.intuit.com.au/r/australia/australian-smes-still-foggy-on-the-cloud/>

Lee, J 2016, “SMEs manage enterprise with Intuit QuickBooks online,” SMEs manage enterprise with Intuit QuickBooks online, accessed October 1, 2016, from <http://articles.abilogic.com/141222/smes-manage-enterprise-intuit-quickbooks.html>

Matthews, D 2015, “Benefits of cloud to small businesses — raconteur.net,” Raconteur, accessed October 1, 2016, from <http://raconteur.net/technology/why-the-cloud-is-perfect-for-startups>

Needleman, T 2016, “QuickBooks Enterprise Solutions,” PCMAG, accessed October 1, 2016, from <http://www.pcmag.com/review/344316/quickbooks-enterprise-solutions>