I have recently started a creative advertising agency here in Austin, White + Associates. We are a strategic partnership between 3 separate entities, we consider ourselves your one stop marketing shop, as we can provide event production, brand promotion, digital and print media design and implementation, web design, email marketing, and most importantly social media marketing. As with any startup one big question I have; when is it time to start using quickbooks in my practice? Right now we are in start up mode and money is tight, I fully understand the benefits of Quickbooks but when does it's value surpass that of excel? Thank You, Loy White www.white-associatesinc.com
The tricky thing with bookkeeping is that the longer you wait to get started, the harder it is to start. QuickBooks has a broad range of offerings with many different price points (here is our comparison and guide to selecting the right version: http://quickbooks.choosewhat.com/), so hopefully you can find a tool that is within your budget and has the features you want/need. If you keep track of your financials on anything besides QuickBooks (or another bookkeeping software that you plan to use long term, if for some reason QuickBooks doesn't work for you), you will eventually have to take all the financial data you have been keeping on Excel, paper, or whatever else you are using and transfer the information to QuickBooks. What often happens, is that you will not make the transfer until it's time to file taxes, then you'll have a tremendous amount of work to do with very little time to do it, and it will be extremely inefficient, because you likely won't remember what many of the charges were for or how to categorize them. <strong>Essentially, unless you absolutely don't have the money, you will save yourself significantly more time and money in the long run if you start tracking your expenses and revenue in QuickBooks now as opposed to starting later.</strong>
These are very good points. Thanks for the response. Does quickbooks have the ability to track inventory in a database and keep realtime inventory levels? Loy
Hey Loy, that's a great question. "Online Plus" is the only Online version that will track inventory (in real time). All of the Desktop software gives you real-time inventory tracking and allows you to set up reorder points so that your system will automatically alert you when you need to re-up your inventory. Check out our comparison grid for more info about the differences between the versions. Hope this answer helps! Reece - <strong>ChooseWhat's QuickBooks Comparison Category Manager</strong>
we consider ourselves your one stop marketing shop, as we can provide event production, brand promotion, digital and print media design and implementation, web design, email marketing, and most importantly social media marketing. If you keep track of your financials on anything besides QuickBooks (or another bookkeeping software that you plan to use long term, if for some reason QuickBooks doesn't work for you), you will eventually have to take all the financial data you have been keeping on Excel, paper, or whatever else you are using and transfer the information to QuickBooks.
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