QuickBooks... Which one for my business?

[russholio]

Russ suggested I post here and see what everyone's thoughts are on a bookkeeping program for my small business. I'd like to hear what other people think of the QuickBooks programs and how it works for them.

Just so you know what kind of business it is, I own The Ladies Dressmaker and spend my days sewing historically accurate clothing for living historians, museum people and the occasional movie. I need to be able to document what supplies were used, how much things cost, deposits and payments for each client. In addition, I need to be able to print/send invoices and receipts.

I also need to be able to document expenses for my business that are non-client related, such as sewing machine repairs, maintenance and purchases, materials used in general for all clients and time spent on each job.

Suggestions? Thoughts?

Thanks!
Lorna (who continues to use Russ's sign in because I keep forgetting to contact John about mine)

 

[mulchatna]

I've used QuickBooks Pro for my business for ten years. It is a powerful small business accounting program that does it all. Also, most accounting firms are well versed on QB and that makes for easy year-end tax accounting. Like any program, it takes time to get familiar with all the functions and shortcuts. For the investment you will be happy.

 

[Skidooski]

I've used QuickBooks Pro for my business for ten years. It is a powerful small business accounting program that does it all. Also, most accounting firms are well versed on QB and that makes for easy year-end tax accounting. Like any program, it takes time to get familiar with all the functions and shortcuts. For the investment you will be happy.

Some of the Tech scools and Community Colleges will offer an evening intro to quick books class. I went to one in the twin cities a few years back, it wasn't expensive and was about a 4 hour class. It was quite informative, learned the basics and how to manuver through the program. Just a thought.

 

[snocrazy]

I am currently using version 2010 Pro. I have also tried Quickbooks online. Online was nice but way to expensive.
Learning from a class is a good start for the basics. But it is ultimately up to you how you want to track the info in Quickbooks. Tracking inventory is a nightmare (to me). And the whole sales tax thing. I have an IT service company and an Internet Marketing company. I stick with charging customers for service. If they need hardware, I either refer them to purchase on their own or I will put it on the books as "office supplies" and pad the service charge to take care of.

Get with a good accountant to teach you the loop holes. (not the sewing kind) My accountant has shown me the light. He has saved me from smashing my computer a few late nights during tax season. He remotes in to my PC and I can see the magic he is performing.

The most important thing is to be consistent. If you enter all of you inventory in to QB. make sure you add it to invoices as you use it. Adjusting inventory after the fact is what made me not want to do it.

Example... Have 10 needles in inventory. You have none in stock but Quickbooks is showing 10. How do you adjust? In QB 2004 this was a pain. May be easier now.

 

[1blue99srx600]

I just starting using QB this fall for my business, before I did it all by spread sheet. I use QB online and have the Essentials package, there are a few to choose from and the higher you go the more options/selections you get. It depends on how much you need. I do it online so my accountant can have access, if there is something I don't understand or she needs to get in she can. It is pretty easy once you get the hang of it.

 

[thebluff]

I've used QuickBooks Pro for my business for ten years. It is a powerful small business accounting program that does it all. Also, most accounting firms are well versed on QB and that makes for easy year-end tax accounting. Like any program, it takes time to get familiar with all the functions and shortcuts. For the investment you will be happy.

YUP. I have used it for 18 yrs and it really requires no or very little training. Easy to pick up on and does everything. We have used QB POS for 6 yrs and that is a program I would not purchase again...but it integrates with the main QB, handles credit card sales, etc....so while it has drawbacks...we still use it.

 

[maximumpsi]

I use Quickbooks and it works, but I'd suggest looking around at other options. It's not the most intuitive program (even though the parent company is Intuit), and you'll get zero support from the company. Good online user communities though. Once you start with a program it's very time consuming to switch to something else. Whichever program you choose, pay your accountant to review how you set up your company in the software, and how you will be entering transactions. Then document the transaction steps. This will save you money later when the accountant reviews and adjusts your books at year end.

 

[russholio]

Ok.. so if I went with something other than Quick Books Pro 2011, what are the options. I'm leaning toward that direction but before I purchase it, I'd like to hear what your suggestion is for an option, Maximumpsi.

Thanks for the info so far, everyone! It is greatly appreciated!

Lorna

 

[anonomoose]

Quickbooks is a powerful program that will do it all...but because of this, it is also a fairly complicated program to use...or at least to use as it should be. Since it is so far ranging, most folks don't use the whole program...just that which they need to get by.

Since it is far more powerful, I would suggest that you study other programs such as MSMoney, and several others out there that might work as well and not be as complicated to learn.

Before you buy a program, know that there are services available out there that lets you do minimum work (on-line) and the pro's then take the info and futher it for you so that it can be very valuable having it completed for you by the end of the tax year. There are bound to be some that are reasonable yet effective at keeping you at the sewing machine instead of at the computer to do accounting tasks.

Finally, if you do buy software for your business, be certain that you SET the business up correctly ...and this might mean to enlist the services of a pro...because the setup is EVERYTHING when it comes to getting it right the first time. If you don't know what you are doing, not only will you spend needlessly hours trying to figure out what to do, but you will miss much of what the program was designed to provide for you.

Software is a work saver, but if you don't get it right...it becomes a back breaker at burning the midnite oil....don't ask me how I know this.

 

[polarisrider1]

Quick books Pro for me. been using it since it came out. Follow directions to set it up and it works fantastic. We (office and I) even went to a quick books seminar a few years back and was worth it.

 

[russholio]

Excellent information all the way around!

 

[maximumpsi]

Ok.. so if I went with something other than Quick Books Pro 2011, what are the options. I'm leaning toward that direction but before I purchase it, I'd like to hear what your suggestion is for an option, Maximumpsi.

Thanks for the info so far, everyone! It is greatly appreciated!

Lorna

Sage Peachtree is one other accounting software option. There are also online options like NetSuite, and your accountant might have some suggestions. But most small businesses do end up using Quickbooks. Good luck!