Is Quickbooks effective?

[conspiracy_center]

Hi biz peeps of PH. Effective ba ang Quickbooks for SMEs, lalo na sa bookkeeping and income-expenses tracking? We’ve been using Excel since 2021, and mukhang OK kasi ang Quickbooks based sa ads nila. Worth it ba? Mag h-hire na rin kasi kami accountant in the following months, gusto ko sana malaman if may nakasubok na nitong software na ito sa inyo…

 

[shinemylight]

@conspiracy_center This depends on what business and the number of transactions you have. What are the pain points you are experiencing with Excel currently?

In general, I would recommend Quickbooks if you have the budget. Permission-based accounts are useful if you will delegate encoding to another person. Also, encoding arguably gets easier with form fields. However, it demands better accuracy since transactions are not easily reversible, unlike in Excel. Quickbooks also lets you create standard and custom reports to monitor your business easily. To take advantage of these benefits, you'd have to hire a decent accountant to set up your chart of accounts properly.