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Quickbooks Review

     QuickBooks, once considered good accounting software for small business, has successfully made the transition to a highly effective solution for midsize corporations and meets all customer account management, inventory tracking, payroll, accounts receivable management, and overall corporate accounting management software needs.In order to survive in today’s business climate, the agile business needs to select appropriate management software.

An overview of QuickBooks Enterprise reveals a number of enhancements over the “Pro” and “Premier” versions, some of which are as follows:

* Scalability from 5 to 30 users * Easier navigation / user interfacing * Greater security and advanced user roles and permissions (115 separate activities) * “Always On” audit trail * Greater customization of customer, employee, and vendor accounts * Custom reporting flexibility enhancements * Improved inventory management * Scanned document and “image” attachments to accounts, inventory, and transactions * Customer choice of installed, remote desktop, or hosted application licensesQuickBooks Review – Products/Services and Invoicing Management

QuickBooks Enterprise facilitates sending statements immediately to one customer or thousands of customers, including the option to print or email statements. Even more important is QB’s ability to micro-manage the product and services mix, and multiple pricing options, thus ensuring the optimization of revenue by making certain no individual product or item, service, or special handling/shipping add on is omitted from invoicing. The integration of the pricing management feature with the inventory control features also allows automatic price updating as inventory prices increase.

QuickBooks Review – Advanced Inventory Management

The many QuickBooks Enterprise inventory management enhancements increase efficiency with such features as auto-PO generation, and the ability to attach individual item images to the item description and location data. The auto PO feature will detect low inventories for any item category and automatically send multiple purchase orders to all vendors who supply the products. And as mentioned earlier, cost increases in specific inventory items can bet set to automatically increase related product pricing to customers. This feature protects profit margin and revenues with less chance for error.

QuickBooks Review – Accounts Receivable Management Made Easy

Perhaps some of the most impactful improvements of Enterprise over previous versions are in the accounts receivables management area. The software will alert the AR team when customers’ payments are due, or almost due, and provide options as to how and when to contact the client.

Clicking the Collections Center button will show the customer name and beneath it, a link to each overdue or almost due invoice. QB can open the invoice on the screen and display the balance of each overdue invoice, and days overdue. This screen includes the customer phone number as well as an option to add day & time stamped notes for any collection calls.The AR team can elect to send an email to each customer notifying them that they are overdue, and automatically attach a PDF of each overdue invoice. Or, QB can transfer vital information to third-party software which will contact the customer with the correct information regarding balance the need to pay. If it becomes necessary, QB can also send the appropriate data to a pre-collections or collections firm electronically to conduct phone and/or written follow-up.AR management, using QuickBooks, is easy, measurable, and effective. QuickBooks also offers flexibility, plus detailed accounting of customer accounts, inventory management, vendors, and employee payroll. In addition, the ability of QuickBooks to integrate with auto-call vendors and third parties for enhanced collections activity can save time and money for the company when a more focused collection effort becomes necessary.

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If you would like more information on how to create an effective accounts receivable management strategy visit us at or call 800-576-4974 to schedule a FREE 30 minute coaching strategy meeting with me. Copyright © 2013 Michael S Fink

Posted on 2013-04-20, By: *

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Note: The content of this article solely conveys the opinion of its author.

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