QuickBooks has proven useful in accounting and bookkeeping, especially for incumbents and small businesses. Despite the market being flooded by similar accounting software, such as Xero, Wave, FreshBooks, etc., QuickBooks has taken the lead by transcending the competition. It has been the most favorable among small business owners. Several versions cater to multiple business needs that other competing software currently lacks. Its transcendence in the market for serving small businesses is attributed to the following reasons.
Diversity & Flexibility
QuickBooks is available in different versions, allowing for greater diversity in serving small businesses. Small business owners can choose from various versions depending on their unique business needs and specifications. For instance, QuickBooks offers various versions like QuickBooks Pro, QuickBooks Online Plus, QuickBooks Mac, QuickBooks Hosting, QuickBooks Premier Hosting, and more. Each one comes with unique features to enable businesses to choose the one that fits best with their business needs. The various versions may also be purchased according to one’s budget, allowing for even more flexibility. Hence, QuickBooks leads the competition through flexibility in pricing and features.
User Friendly
Another reason for this market transcendence is the user-friendly interface that it comes with, allowing for easy access and use within the business. Employees working on a legacy system are generally more resistant to change. Traditional bookkeeping has been popularly replaced by accounting software, which may be a source of intimidation for employees at work. However, QuickBooks helps with the initial phase of using the software step-by-step and extends the option to seek professional help.
Compatibility
QuickBooks offers a compatible interface that can be integrated with multiple vertical market applications quickly and easily. This superior compatibility helps align and streamline every single process within the organization and allows for cost, time, and effort savings. Automation sounds like a brilliant idea when it comes to accounting, but automation, to this extent, is no less than a miracle for small businesses.
Customization
In addition to the above reasons, QuickBooks has successfully outperformed the competition due to its ability to customize almost everything related to accounting and bookkeeping. One can customize a chart of accounts to their specific business needs and customize invoices, sale receipts, and estimates. You name it, and QuickBooks has it covered! It sure is a one-stop solution for all your tedious accounting hustles.
Simplification of Tasks
QuickBooks has been an innovation in the market to help serve small business needs related to complicated and enervating accounting procedures and activities. It has provided a complete and sorted package for A to Z accounting and helped simplify complex spreadsheets, returns filling, reconciling, invoicing, and financial reporting tasks throughout organizations, especially for small businesses.
Unlimited Features
QuickBooks has also taken over full responsibility for performing all accounting tasks while providing various features. It manages cash flows, invoicing, billing, receivables and payables, employee performance, bank transactions, check printing, online banking, emails, payroll, and financial reporting. Other features include access to its online version from any internet-enabled device. This is particularly useful for small businesses that are operated remotely.
Business Tracking
Another one of the many reasons why QuickBooks has led the market competition is the streamlining and automation that it has facilitated for small businesses. With its use, business owners have been empowered to track every business transaction and workflow hassle-free and seamlessly. This has enabled a transparent work environment for small business owners.
Conclusion
Therefore, based on the numerous reasons identified above, QuickBooks has remained victorious in establishing a position for itself in the market that transcends any competitor serving small businesses.
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