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Everything has to start somewhere and a business is no different. Most start with a great idea, a little money and a lot of hard work.
While many factors can affect the success or failure of a new organization, one key element is management.
Time management, information management, and money management.
A good, simple accounting package, like Quickbooks software, can help with all three.
Quickbooks, by Intuit Software, is the defacto industry standard for small business accounting. And while it is simple enough for the novice user to master the basics, it is also a full featured package that can be used for larger, more complex organizations.
There are several versions of Quickbooks software available.
At the entry level, the Simple Start system will get you up and running with the basics of small business accounting. The free starter set will handle bill paying, check writing, invoicing and bank account reconciliation.
It includes 14 standard financial reports to help you track your business.
You can move on to the next level with the Start Pack, which provides additional features and services.
For the more serious user, there are three additional levels:
Quickbooks Pro offers full featured business accounting with hundreds of customizable reports.
Quickbooks Premier takes it to the next level with enhanced employee and customer information tracking, and solutions tailored to specific industries and organizations.
While the Pro and Premier level products are networkable, for larger organizations, the Quickbooks Enterprise Solutions provides enhanced multi user capabilities.
Each of these packages can be be augmented by the addition of Quickbooks software Modules, including Payroll, Point of Sale processing, Credit Card Processing and Marketing Tools.
Some modules may not be available in the entry level products and may include recurring subscription and update fees.
In all Quickbooks installations, there are features common to most professional accounting packages.
Check Processing prints checks, accurately tracks multiple checking accounts, provides easy account reconciliation, and integrates with the Financial Reports.
This is much more than just an automated check book. Every check written is posted to at least one account for tracking expenses and disbursements.
Accounts Payable allows you to create both one time and repeating bills and helps regulate cash flow. Vendor information can be stored and maintained as well. The Bill Paying feature allows you to view current bills by due date, and will show you the effect paying a bill will have on the Checking Balance before you cut the check.
Accounts Receivable let's you handle billing for your clients. This includes Account Aging, Customer histories and professional looking invoices.
Financial Reporting presents all of your financial information in standard accounting formats. The flexible Chart of Accounts allows you to control exactly how your income, expenses and assets are tracked, grouped and presented.
Other features included backup and data base utilities, integrated on line bill paying, and alerts that will let you know when things need to be done.
One advantage of Quickbooks software doesn't come in the box with the CDs, but is rather a feature of Quickbooks position in the Accounting Software Industry. Their wide and diverse customer base has produced a network of specially trained experts who can assist you in getting the most out of Quickbooks software. These experts are available on line and in person in every major market.
This is very important when getting started. Each organization's information needs are unique, and setting up the proper account structure if crucial. Even after you are on your way, having access to experienced resources can get you past that bump in the road.
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