Quickbook Advantages And Disadvantages

Decent Essays

According to Warren et al., one of the essential parts of successfully running a firm is keeping accurate financial records (3). It is the primary role of the firm’s management to hire skilled bookkeepers or accountants to provide the stakeholders of the company with the correct financial reports. However, nowadays, the preferred method of maintaining the books of accounting is through the use of accounting software (computerized computer systems) such as QuickBooks, a product offered by Intuit, primarily marketed to small enterprises and non-profit making organizations. Apparently, the software has assisted in streamlining most of the accounting tasks by ensuring reliable financial results to the users. Nevertheless, like anything else, QuickBooks has its advantages and disadvantages as outlined below.
One of the advantages with QuickBooks is that it is easy to use and requires minimal knowledge. The main problem with the accounting concepts is that they are hard and cumbersome to learn and apply (Warren et al. 52). However, the developers of QuickBooks designed the software in a way that it is easy to understand even for the individuals without any financial or accounting background. That is, unlike the manual accounting procedures which demand significant knowledge and experience in accounting concepts, QuickBooks is programmed in a way that the user needs to enter the transactions, and other accounting procedures are automated, giving accurate results.

Get Access