Quickbooks

Quickbooks is an software developed and marketed by intutit. Mainly designed for small and medium sized businesses.

• It is used to take care of basic accounting needs such as payroll, inventory and sales of a small business.
• We can use quickbooks both online and in desktop versions.

The process of creating a purchase transaction.

• It directly starts from the purchase order creation and doesn't involve any pre-purchase request.
• The purchase order is made up simple details such as supplier, list of items etc.
• We can generate a PO very easily and send it.

• After the creation of purchase order the further transaction is proceeded from the customers sections where we create the invoice and the payment.
• Here we will list of products that are received and then make the payment is made accordingly.

• Once the invoice is generated we will do the payment for the for the given amount and we can see the status of the payment in the right top of the website.

• When the invoice is received we can create a credit note/returns where we can return the inventory that we have to return.

• After credit note has been generated we make the payment for the products received and clear the due balance.
• The refund money can also be updated for the credit note that we have created.

Advantages :

• Easy to understand and use.
• We can copy the details of a transaction to other and make changes.
• Design is attractive and looks good.

Disadvantages :

• Limited in design and cannot add more features.
• Can get difficult to understand if more transactions are made.
• Separated by customers and suppliers not by the single transactions cycles.