Intuit, Inc. – QuickBooks Premier 2004

Ease of Use – 4.5 Stars

QuickBooks Premier is easily navigated.
The main screen has a drop-down
menu bar at the top of the screen,
a task bar below with access to
commonly used system functions,
and the available navigators to
the left of the screen. To the right
of the navigators is a flowchart
of common navigator options and
links to all related functions.
This helps users, especially those
unfamiliar with QuickBooks, to quickly
learn their way around the system.
One of the things I really like
is the ‘Reminders Overview,’
which gives you the number of bills
due to be paid, overdue invoices,
purchase orders to print and inventory
alerts. Dollar amounts are also
attached, making this a quick and
easy way to view your company’s
financial status.

Setting up company users, budget
completion and password maintenance
is all handled through the Company
Navigator. The Customer Navigator
allows you to create invoices and
statements, assess finance charges,
and create customer statements.
The Vendors Navigator lets you create
Purchase Orders, receive shipped
items, process bills, and add or
update inventory. QuickBooks offers
three ways to process payroll: do
it yourself, assisted payroll (which
will handle any tax filings and
deposits) or outsourced (where QuickBooks
handles your entire payroll processing
for you).

Training & Support – 4.5 Stars
QuickBooks contains a solid Help
option in its software. You can
also access various tools from the
company’s web site, all designed
to make navigation easier. New users
also get free installation support.
The installation CD contains interactive
tutorials, and certified system
training is also available. Support
plans include the Ultimate Support
Plan, which is $399, or the Ultimate
Flex Support plan, which allows
you to spread payments over the
life of the support plan.

Audit Trail, Integrity & Accountant Control Tools – 4 Stars

Features in QuickBooks Premier make
it easy to keep a handle on your
data. User permissions can be set
to limit access to financial information.
You can also password-protect system
closing options. And a report is
available that will detail any changes
made in the system and by whom.
For better financial planning, you
can use QuickBooks Premier to create
a business plan, forecast annual
revenue, or project cash flow for
up to six weeks.

Reporting – 4.5 Stars
Reporting options are numerous.
Simply select a Report type, such
as Inventory, Customers & Receivables,
Employees & Payroll, etc. This
will bring up a list of available
reports for that particular type.
QuickBooks Premier includes the
following reports: Profit &
Loss Reports; standard or detailed
Balance Sheet Reports; AR Aging
Summary or Detail; Open Invoices;
Sales by Customer, Item or Sales
Rep.; a Payroll Summary; Transaction
Detail; and Liability Balances.
Date ranges for the reports are
entered at the bottom of the entry
screen.

Company Vision

Intuit
has been offering quality accounting
and financial software to customers
for over 20 years. QuickBooks continues
to expand its vision, now offering
businesses more financial and accounting
options than ever before.

2004 OVERALL RATING:

In this review, we looked at 10
accounting/ financial software products
that are designed specifically for
the small business environment.
We looked at seven areas, including
cost, which is sometimes the most
important factor for companies with
limited budgets. We also looked
at modularity, expandability and
scalability. What modules are included?
What add-ons are available? If my
company grows, is the software able
to handle that growth? Can I export
data into spreadsheets? Can I import
data from third-party software vendors?
These are important questions that
need to be addressed. The next area
we looked at was ease of use. Can
I be up and running fairly quickly
or will I have to invest time in
learning to navigate the system?
Help and training is another important
aspect that potential users have
to analyze. If I have a problem,
can I get an answer fairly quickly?
Is there a decent help file available
if I have a question? Reporting
is also another important factor,
which is addressed, as is audit
trail, integrity, and accountant
control tools. While it is simple
to establish an audit trail, and
maintain control tools, true system
integrity is difficult to determine
during a review. The last area considered
here is company vision, which is
simply a brief statement of where
the company has been in the accounting
market and where they appear to
be heading.

Prototype Company: Following is an example of a company that might use a small business accounting product: a service-based company, employing 10 people, with 75 active customers, adding an average of five customers per month. The approximate number of bills processed per month is between 15 and 25. There are two system users, an accountant/bookkeeper and a payroll processor. Employees are paid biweekly, and the company’s annual revenue is $1,250,000.

We know that this example does not
fit all businesses. Retail business
owners will also need an inventory
module to track sales and receipts
of product. And any service-related
business should have a basic time
and billing module to track, record
and bill clients accurately.