What is QuickBook?
• QuickBooks, developed by Intuit, is an accounting
software designed to assist businesses in handling
financial transactions, bookkeeping, payroll,
invoicing, tax preparation, and other accounting tasks.
• Its intuitive interface and automation capabilities make
it a popular choice among small and medium-sized
enterprises (SMEs).
History
• QuickBooks was first released in 1983 by Intuit,
originally as a DOS-based program called Quicken,
designed for personal finance management. Due to its
success, Intuit developed QuickBooks in 1992 as an
accounting solution for small businesses. Over the years,
it has evolved with cloud-based versions, AI
integrations, and mobile applications.
• Inventor: Scott Cook and Tom Proulx
(Co-founders of Intuit)
• Current CEO of Intuit: Sasan Goodarzi
(as of 2019)
Features/
Use • Bookkeeping & Accounting
• Invoicing & Payments
• Payroll Management
• Bank Reconciliation
• Inventory Management
• Tax Preparation
• Financial Reporting
• Multi-User Access
• Cloud-Based Access
Features that help you run your business:
Invoicing Expenses Bank Feeds
Create professional custom invoices, Get ready for tax time with all your Save time and reduce errors when
send payment reminders, and match expenses organized in one place. you connect your bank to get a full
payments to invoices, automatically. view of your finances.
VAT Capture & organize receipts Inventory
Easily organize expenses into tax Use your phone to take photos of Stay on top of your orders and
categories and track sales tax on receipts. Match them to bills to remain quantities while managing your
income and expenses so you always organized and prepared for tax season, inventory in real-time
know where you stand and how much with everything in one place.
you owe.
Features that help you run your business:
Mobile App Insights and reports Multi-currency support
Save time by running your business on- See how your business is doing and Send invoices, record transactions and
the go with your mobile device*. make better decisions with a range adjust reports in different currencies. And,
of customizable reports quickly assign currencies to different
. customers.
Security Switch to QuickBooks
See how we keep your information safe Switching from Xero, Excel, and other
and compliant at all times. solutions to QuickBooks Online is
simple.
Input - Process - Output
Registration
Dashboard
OVERVIEW
• Transactions
• Expenses
• Customer and leads
• Reports
Transactions
Transactions
Expenses
Customer and Leads
Reports
Click +New to access Features
Invoicing
Sales Receipt
Expenses
Checks
Payroll
Taxes
Reconcile
Budgeting
Reports
Business Overview ( Reports )
Sales and Customers ( Reports )
Who Owes You ( Reports )
What You Owe ( Reports )
Expenses and Vendors ( Reports )
For my Accountant ( Reports )
Profit and Loss
Balance Sheet
Customer Contact List
Supplier Contact List
AR Aging Summary
ADVANTAGES
AND
DISADVANTAGES
Advantages
• Cloud-based - QuickBooks Online is a cloud-based accounting
program, eliminating the need for downloads or installations.
This allows easy access to financial data from anywhere with
an internet connection.
• User-friendly interface - QuickBooks has a clean and intuitive
interface, providing instant visibility of your financial position.
It is relatively easy to set up and can be quickly learned with
the help of tutorials.
• Low cost and free trial - QuickBooks offers affordable pricing
plans, allowing businesses to keep expenses to a minimum.
Advantages
• Essential accounting features - QuickBooks offers a wide
range of essential accounting features.
• Online client portal - QuickBooks includes an online portal
where clients can view and pay invoices, as well as address any
concerns, facilitating seamless communication and payment
processes.
• Integration and third-party apps: - QuickBooks allows easy
integration with third-party applications and plugins,
enhancing its functionality and customization options to meet
specific business needs.
Disadvantages
• Learning curve and setup: To fully utilize the software and
customize it to your preferences, investing significant time in
learning and setting up QuickBooks is necessary.
• Limited features: QuickBooks lacks payroll and project
management features, limiting its suitability for businesses with
specific needs in these areas.
Disadvantages
• Reporting limitations: QuickBooks primarily focuses on
accounting reports and may lack comprehensive reporting
capabilities for other aspects of your business, potentially
hindering transparency and insights into business health.
• Lack of direct professional support: QuickBooks may not
provide direct professional support, requiring users to rely on
online resources, forums, or third-party experts for assistance.
Disadvantages
• Limitations on file size and users: QuickBooks imposes
limitations on file size and the number of users, which may
become restrictive as businesses grow or require more
extensive data management.
• Standalone application: QuickBooks is a standalone
application, lacking seamless integration and automation
between other business systems, which can result in manual
data entry and fragmented workflows.
Disadvantages
• Security concerns: As an online system, QuickBooks poses
potential security risks, including the exposure of financial
information to internet hackers.
• Scalability limitations: QuickBooks may not scale well with
businesses experiencing significant growth, as upgrading to
higher-tier plans often involves a substantial price increase.
LIMITATIONS
Limitations
• Pricing • Performance Issues
• Limited Customization • Limited Multi Currency
Options Support
• Limited Features in Basic • Limited Customer Support
Plans • Data Security Concerns
• Interface Complexity • Mobile App Limitations
• Learning Curve for Advance
Features
Thank You!
Marie Claire S. Malonzo
Kyle L. Lapuz
Fatima D. Bautista
Darlene Mae S. Dizon
