QuickBooks 2011 Now Available - InformationWeek

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05:17 PM

QuickBooks 2011 Now Available

Intuit's financial software adds features to save business owners and accountants time, including customer "snapshots," batch invoicing, new payment tools and mobile access.

QuickBooks 2011 Company Snapshot
(click image for larger view)
QuickBooks 2011 Company Snapshot
Intuit's QuickBooks 2011 financial software is now available. The 2011 versions are for QuickBooks Pro and QuickBooks Premiere, Intuit's financial software intended for use by small businesses.

According to Intuit, the company sees users for QuickBooks Pro and Premier editions as small businesses with up to 100 employees, with the majority having 20 or fewer. Intuit claims to have 94% retail market share in small business accounting software.

QuickBooks competes with other small business accounting programs like Sage's PeachTree and SimplyAccounting, as well as online offerings like WorkingPoint and InDinero, and for larger SMBs, Intacct and NetSuite, according to Laurie McCabe, Partner, The SMB Group. At the lower end, said McCabe, "Some companies still do their accounting with spreadsheets, but in mature markets like the U.S., companies are likely to use Quicken, or Intuit's Mint.com offering, or consumer-oriented products like QuickBooks Online."

According to Alex Hood, group product manager, QuickBooks for Windows, Intuit, new features and other improvements QuickBooks 2011 reduce the amount of time a user needs to get started with QuickBooks and to perform common tasks, provides new views of company and customer information and adds remote access from mobile devices.

Thanks to these new features, says Hood, "Using QuickBooks is likely to reduce the time and cost of bookkeeping, expedite CPA/accountant time, and help improve invoicing and collection, along with providing better and easier insight into company financials."

"This is a nice upgrade," said SMB Group's McCabe. "Intuit has QuickBooks much easier for customers to use, as opposed to adding specific new accounting features. Many accounting tasks are much easier and require less steps, which is huge for small businesses. For example, being able to import contacts directly from your email, which used to be a time-consuming keyboarding chore, and being able to search invoices based on price rather than having to page through them all."

New features and other improvements in QuickBooks 11 include:

-- Customer Snapshot offers a consolidated view of an individual customer’s purchase history, average days to pay, and outstanding balance. "This summary overview for a customer is similar to the overview we provide of your own business, like how long has someone been a customer, the status of the account balance, and a graph of work done over the past years," says Hood. "This helps small businesses make timely decisions on customer requests."

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