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Yes, I am one of "those" people. Thought I could do it mostly alone. I do have a "tax/bookkeeper" but thought the day to day would be easy... LOL I tried to Import my bank account, key word here is tried.....Is there a book that can instruct easy enough?
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QuickBooks: The Answer to Everything?
The marketing hype from QuickBooks has convinced even the most unskilled that they too can be their own accountant with no training.
Written Jun 12, 2009, read 2792 times since then.
Intuit, the maker of QuickBooks, has done a fabulous job of marketing their product to the masses. Anyone who can turn on a computer is told that they too can become their own bookkeeper/accountant in no time at all. It’s as easy as installing the software, with no need for experience nor training. It’s a wonderful thing, this software. It also has the largest market share for small businesses, so it must be doing something right.
But . . .you knew there would be a but, didn’t you?
I’ve been spending some time on the Intuit boards, answering questions from inexperienced users who are convinced that since they’ve purchased this software they too can do all the setup and bookkeeping themselves, without having to engage the services of a bookkeeper, or an accountant, or any of those redundant professions that technology has eliminated. As they work on figuring out a system that is easy to use for those with a basic understanding of accounting they become frustrated and irritated, annoyed that they’ve spent money on something which is harder than they think it should be. Occasionally they lash out, screaming into the ether about how they’ve been ripped off, and how there must be a flaw in the software, a bug, something that’s just not right, and if only Intuit would fix it, all would be well.
If only I could think my way to losing ten pounds without diet or exercise, or if only the marketing hype that surrounds me each day were true, think how perfect my life would be!
Unfortunately, this is real life.
Bookkeeping and accounting are a cost of doing business, and when I see business owners spending countless hours trying to figure out a system unrelated to their income stream, I could cry. Not really. I’m not that emotional. I do think that people would be better served by plunking down a few dollars to get their books set up right, perhaps to have someone explain to them how it works and what they need to do, so they would have more time to work on their business. That’s my biggest concern: people are losing track of the intent of the business, which is to generate income, not to learn a new skill. Learning takes time, especially if one doesn’t know a credit from a debit, or how an income statement works. Or why they’d even want one.
And what must their tax preparers think at year end, when they receive information that doesn’t seem to make sense? As a tax preparer, I wonder about that.
Of course QuickBooks, like any software, isn’t perfect. It doesn’t do everything we want it to do. It’s an off-the-shelf inexpensive software, and you get what you pay for. I use it extensively, and does it do everything I might want? No, of course not. There are multiple ways to get things done in QB, just like in life, and knowing the shortcuts and how it works saves considerable time. Time = money, doesn’t it?
We are a proud and independent people. So independent and so cautious about spending money on something we could well do ourselves that we lose sight of what matters: getting the job done fast and accurately. That is something you can put a price on, unlike the hours lost trying to figure out why things don’t work like you want them to, losing the opportunity to generate income while you try to manage the income you have, or even just having a few extra hours to do things you might actually enjoy, like taking the kids to the park, certainly more enjoyable an activity than screaming at your computer while it insists on its inane system of debits and credits.
Think about what it is that you want to achieve, and how much on-the-job learning you want to spend your time on. Think about relieving yourself of some of the anxiety. Think about generating income instead of spending your time trying to figure out how to make the numbers come out right. Think about the cost of your time. It’s a non-renewable resource.
Learn more about the author, Monique Colver.
Comment on this article
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Posted by Binh Pham, Seattle, Washington |Jun 16, 2009 I'm a slow learner. And only dabbling with quickbooks as frequently as i wax my eyebrows was essentially "anger the boss-moreso" building material. With that said, i've finally come to gripes with the software and when you do grow familiar with QBs, it's a moderate pleasure to deal with.
I could be more efficient may i learn more of the shortcutting methods and know exactly where certain tools/functions/etc. are located off the bat (i'll make this marriage work). It would most certainly make my time with QB something like boating with no currents... smooth sailing.
A whole new language for somebody who isn't accustomed to counting beans and sorting grains as i do find this stuff sorta plain as boredom reigns. But one thing is for sure; not having to pay an accountant to what quickbooks does is time-well-spent.
has money left over for date at Quiznos
"Would you like it toasted, dear?"
...
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Posted by Monique Colver, Vancouver, Washington |Jun 16, 2009 Patricia -- not yet that I know of! But a colleague and I are going to be putting together information on some of these things -- I'll add that to the list!
Binh -- you have pinpointed one of the reasons accountants and bookkeepers have a love/hate relationship with QB. On the one hand, I often get new clients who have tried QB on their own and need help getting it set it up properly. And on the other, QB says you don't need an accountant -- those of us who make a living from being one of those numbers people might take that personally. Imagine if a software product came out that ensured I wouldn't need any auto body work again -- what would that do to your business?
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Posted by Timothy Knuth, Bothell, Washington |Jun 16, 2009 Patricia,
I agree that as a small business owner that it is best to consult a professional (accountant or bookkepper) to setup and establish an accounting system; as they will be able to, as you said, explain why things need to be organized a certain way.
I also agree that Intuit has done a good job marketing themselves to small businesses.
However, with that said, I think it only fair to mention the product Microsoft Small Business Accounting. I am not sure how many people know about this product. One would still want to talk to a bookkepper or accountant to ensure that it is setup properly, but with that said I find that the MS Business Accounting software is a lot more intuitive to work with compared to Quickbooks.
I tried using Quickbooks for years, and could never get out of it what I wanted. The impression that I have of Quickbooks, is that it will do what I want, but I have to pull my hair out to figure out all the ins and outs, etc.
I did not have the same frustrations with Microsoft Small Business Accounting. It has more of an Office compatibility feel towards the user interface. Which I found a lot less intimidating.
I also have found (with no surprise I am sure) that Microsoft Small Business Accounting interacts directly with other Microsoft products. So it is easy to create a letter to a client showing what they owe, or send an email invoice. There are a lot of cool items in the Small Business Accounting that I have not seen in the versions of Quickbooks that I have used in the past.
As a final note, I think that bookkeepers and accountants are people that are still needed to be on the short phone dialing list. Although there are things that I can do on my own, there are things that I still need from these people. For one a good bookkeeper can help by ensuring that things are entered into your accounting software properly. So keep your bookkeeper, they can review your files monthly to ensure all is looking good. Second, you need your accountant to review at least annually to ensure that you are getting all you can out of deductions, and they will ensure you stay out of legal trouble as well. Often times if you have posted something incorrectly, they can correct and minimize the overall damage, penalties, etc because they are the experts.
Happy accounting!
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Posted by Keith Gormezano, Seattle, Washington |Jul 30, 2009 Monique hit the nail on the head when she pointed out the real emotional and time cost of trying to do it yourself.
This is why I go to an auto mechanic to take care of my car that I drive to my QuickBooks or Quicken for the PC or Mac clients, to a computer repair shop for my computer, a plumber to fix a leak, etc.
I don't have that expertise. I would rather pay others to do what they do well rather than being frustrated. And I make more than what I pay others to do to make my live easier by fixing life's little problems.
Shouldn't it be that way?
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Posted by Rosedi Texa, Cleveland, Ohio |Dec 28, 2009 I think Timothy makes a really good point in saying: "As a final note, I think that bookkeepers and accountants are people that are still needed to be on the short phone dialing list. Although there are things that I can do on my own, there are things that I still need from these people. For one a good bookkeeper can help by ensuring that things are entered into your accounting software properly. So keep your bookkeeper, they can review your files monthly to ensure all is looking good."
Generally speaking, bookkeeper salaries are pretty modest, and if you can have one who acts as a bridge between yourself and your CPA, you in really good shape. A second set of eyes is always a plus!
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Posted by Berry Zimmerman, Bellevue, Washington |Feb 06, 2010 I can think of dozens of reasonable, rational reasons to keep a complete, accurate and timely accounting of the money flowing through your business. The only reasonable excuse for NOT keeping track of your business money is if none flows through it... But then it wouldn't be a business because, by definition, a business is an entity created for commerce... exchanging money for products or services.
You are missing so much control and value if all you use QuickBooks for is to file your state and federal taxes. QuickBooks (or any other business accounting software) provides a means to accurately record all of the financial transactions in your business. These transactions include inventory purchases, capital purchases, sales, expenses, wages, taxes, asset depreciation, owner draws, etc.
Successful business owners understand how money flows through their business. They understand how to manage cash and profit (yes, they are different), they understand how to use financial statements as decision-making tools.
Intuit sales and marketing professionals will tell you that the typical QuickBooks users only use 20% of the features in the software. If that describes you, then a qualified bookkeeper, professional tax accountant and a certified QuickBooks ProAdvisor can help you get your arms around your business finances.
They can help you ensure your financial decisions are based on accurate, complete and timely data.
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Posted by Monique Colver, Vancouver, Washington |
Feb 06, 2010 Berry, I totally agree. I'm constantly amazed by the questions I get on the Intuit forum from people who've bought the software but don't want to enter their check register, they only want to invoice. Or who want to enter their expenses, but nothing else. There's so much information that is vital for one's business, and people see just one aspect of it.
There's just so much more to it.
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Posted by Berry Zimmerman, Bellevue, Washington |
Feb 06, 2010 Not only that, they are likely working harder, not smarter. They don't have all their transactions in a single location and they can't see how their transactions interact with each other or affect their bottom line.
Just like any software, you need to invest small bites of time over several months (or years) to really understand the full capabilities. It also helps if you've got a sense of curiosity like a child.
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Posted by Monique Colver, Vancouver, Washington |
Feb 06, 2010 And I see so many people working so very hard at making one small thing work they way they want it to and not integrating so that everything works together.
People have told me I often like a child, so perhaps that helps.
Article tags
- bookkeeping
- accounting
- quickbooks
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