History of QuickBooks

History of QuickBooks

QuickBooks, one of three flagship products offered by California-based Intuit, was originally patterned after personal accounting package Quicken. Intuit executives wanted to provide a package that would offer small business owners the flexibility of an easy-to-use software package and the structure and compliance required to run a profitable business.

At its set afloat in 1998, QuickBooks was very popular with business owners with no formal accounting background. Unfortunately, although the package was easy to use and offered meaningful assistance to its customers, many accounting professionals felt that it without the security, audit trail and robustness really needed. These concerns were exacerbated because many business owners used QuickBooks, which quickly established an 80% market proportion, for day-to-day bookkeeping – but relied on specialized accountants for month-end and year-end sets.

Intuit sought to bridge this gap, and by 2000 the software included several of the missing features including audit trails, double entries and other accounting-industry compliant items. Next, Intuit began developing niche products: including those with basic or progressive features, in addition as packages tailored to the needs of specific industries like contracting, retail, manufacturing and already not-for-profit. QuickBooks also leveraged the relationship between small business owners and accountants/bookkeepers by developing the Pro Series, which is specifically designed for accounting professionals who sustain multiple small business clients.

More recently, enhancements to the QuickBooks line have included payroll processing, far away access options, electronic payment roles, online banking, import and export options from Microsoft Excel. QuickBooks Enterprise Solutions, a product aimed at larger organizations that run accounting via networks was developed and now runs in both Windows and Linux server environments.

Today QuickBooks continues to keep up a principal proportion of the market. Far from an adversarial relationship with accounting professionals, Intuit now has a network over 50,000 CPAs, bookkeepers, and consultants who serve as QuickBooks ProAdvisors. These professionals offer an range of sets including: QuickBooks training, technical sustain, consulting sets, complete-charge bookkeeping all targeted at the QuickBooks platform.

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