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QuickBooks is an accounting software package developed and marketed by Intuit.QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud based versions that accept business payments, manage and pay bills, and payroll functions. QuickBooks is Intuit Inc's set of software solutions designed to manage payroll, inventory, sales and other needs of a small business. The software's features include marketing tools, merchant services, product and supplies, training solutions. Made by Intuit, QuickBooks is a line of financial software designed to help small business owners stay organized. Small businesses can use QuickBooks Pro or QuickBooks Premier as a data hub for storing their vital details, including customer information, inventory specifics and income and expense reports. Among the software's many features are options for creating customized invoices with company logos, tracking sales and expenses and managing customer, vendor and employee data. It also offers opportunities for managing bills and online banking, QuickBooks is Intuit Inc's set of software solutions designed to manage payroll, inventory, sales and other needs of a small business. The software's features include marketing tools, merchant services, product and supplies, training solutions. Each solution is developed according to different industries and their needs. Intuit's products for construction contractors include the Simple Start Plus Pack, Quickbooks Pro, Quickbooks Premier Contractor and Quickbooks Enterprise Solutions: Contractor. These products are designed to meet contractor's needs based on company size. These software solutions are used to monitor expenses, create invoices and reports, track change orders and job status, and manage inventory, customers, vendors and employees. In addition to these industry specific packages and their corresponding capabilities, Intuit offers add-ons to Quickbook versions as well as third-party tools that integrate with Quickbooks in order to enhance current functions.
Accounting or accountancy is the measurement, processing and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, external auditing, and tax accounting. Accounting information systems are designed to support accounting functions and related activities. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system. In the double-entry accounting system, at least two accounting entries are required to record each financial transaction. These entries may occur in asset, liability, equity, expense, or revenue accounts. Recording of a debit amount to one or more accounts and an equal credit amount to one or more accounts results in total debits being equal to total credits for all accounts in the general ledger. If the accounting entries are recorded without error, the aggregate balance of all accounts having Debit balances will be equal to the aggregate balance of all accounts having Credit balances. Accounting entries that debit and credit related accounts typically include the same date and identifying code in both accounts, so that in case of error, each debit and credit can be traced back to a journal and transaction source document, thus preserving an audit trail. The rules for formulating accounting entries are known as "Golden Rules of Accounting". The accounting entries are recorded in the "Books of Accounts". Regardless of which accounts and how many are impacted by a given transaction, the fundamental accounting equation A = L + C will hold, i.e. assets equals liabilities plus capital. Note that capital is at times, used interchangeably with owners' equity.
Accounting software describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, general ledger, payroll, and trial balance. It functions as an accounting information system. It may be developed in-house by the organization using it, may be purchased from a third party, or may be a combination of a third-party application software package with local modifications. Accounting software may be on-line based, accessed anywhere at any time with any device which is Internet enabled, or may be desktop based. It varies greatly in its complexity and cost.