Over the years, QuickBook software has become virtually identical to online accounting software. Initially released in the early 1980s, this software has become extremely popular with small business owners and accountants.
QuickBooks was launched by Scott Cook and Tom Proulx, the founders of Intuit, shortly after the huge success of Quicken. The then new program was originally designed to offer an accounting system for small business owners who had little or no accounting experience.
Shortly after its launch, QuickBooks captured approximately 80% of the small business accounting software market. The company still enjoys the largest market share in this fiercely competitive market.
Because professional accountants were initially dissatisfied with early versions of the program, Intuit eventually filled that gap by providing double-entry bookkeeping features, full audit trail capabilities, and a host of other necessities that professional accountants found necessary. So, starting in the year 2000, Intuit offered both a basic version and a Pro version of the software.
Then in 2003, the company began offering versions of QuickBook that were specific to a number of different industries. These versions included reporting and workflow processes that were industry specific. Intuit’s programs included any terminology associated with the various trades for which the software was designed.
So, at the turn of the century, not only did professional accounting firms (those serving multiple clients in different small businesses) have the right software, but it was also available to contractors, retailers, manufacturers, non-profits, firms of professional services. and wholesalers.
Because QuickBooks was so successful, a product aimed at midsize businesses was released in May 2002.
As of March 2008, the company controlled 94.2% of the business units that were sold in the business accounting category. Currently, more than 50,000 independent business consultants, CPAs, and accountants are members of the QuickBooks ProAdvisor program.
The products continued to evolve. QuickBooks now includes electronic payment features, remote outsourcing and payroll assistance, remote access capabilities, mapping features, marketing options, online banking and reconciliation, as well as enhanced email functionality.
For 2008, you could import Excel spreadsheets with the software.
There are currently online versions of QuickBooks available that are compatible with Mozilla Firefox, Internet Explorer, and Safari for Mac. It can also be accessed through BlackBerry, iPhone, and Android through the use of web applications. However, the online versions do not offer all the features that the desktop versions offer. And some of the online features work differently than they do on the desktop versions.
