Intuit Inc. is a software company and developer that markets financial, accounting and tax preparation software and related services for small businesses, accountants and individuals.
Cloud Accounting or computing is a technology whereby users do not need to have their software installed on their computers or hardware, they are able to access their systems remotely so long they have access to the internet.
This allows employees in other branches or departments to access the same synchronized data and this improves productivity for the company as there need not be back and forth communication regarding information that the user can access on his own.
Quickbooks online is a cloud accounting software one of the software being marketed by Intuit. Some of it’s competitive advantage is being able to work on the move, being IRAS compliant and being able to create customised invoices.
In 2017, Intuit launched the Quickbooks self employed, targeted at freelancers and sole proprietors.
Some of the factors to consider before deciding on an accounting package would be:
1. Ease of Use of the software
2. Compliance with IRAS Guide on Accounting software
3. Security safeguards for user access
The software is frequently compared with MYOB, Xero and other popular systems in the market. MYOB is well known for their comprehensive MYOB Tutorial courses and support programme that benefit users that do not have any accounting knowledge while Xero’s popular functionality is that of the bank feeds that can integrate directly with major banks in singapore.
