QuickBooks 2001--Bill 'Em at Internet Speed
Richard Morochove
Intuit's latest version of its small-business accounting program, QuickBooks 2001, is the most innovative in years, allowing users to communicate electronically with customers from within the program. Intuit also has a new Web-based product, QuickBooks for the Web, designed for entrepreneurs on the go.
The beta version of QuickBooks 2001 that I reviewed is chock-full of useful enhancements, from electronic billing to more-flexible pricing formats. You can e-mail or e-fax invoices and estimates over the Internet. (There is a nominal charge for e-fax service.)
E-mailed invoices let your customers take advantage of the nifty new online invoice-payment option. By clicking on a link embedded in the invoice, customers can pay you electronically via credit card or direct transfer from a bank account. This option could get payments to you more quickly, though you pay a small charge for the service.
Other additions include batch printing of frequently used reports and improved payroll setup, with 60 days of free online tax-table updates.
The $250 multiuser QuickBooks Pro 2001 includes capabilities--for time and billing and for job costing--that the $150 single-user version lacks. Pro also delivers more pricing options: You can use up to 20 different price levels as a percentage of an item's standard selling price--a feature that allows greater selling flexibility. Electronic billing options in both versions of QuickBooks 2001 make them well worth the upgrade for current users.
Internet QuickBooks
QuickBooks for the Web is not a clone of the packaged desktop program--it's been redesigned from the ground up for faster page loading. Yet even with a broadband Internet connection, using QuickBooks for the Web takes longer than running a program on your local PC. Furthermore, the beta version I reviewed can't do everything the desktop QuickBooks can. For example, it doesn't track product inventory, and it offers far fewer reports (30 compared to more than 100).
The Web version's biggest limitation: It doesn't let you send an invoice to a customer. Any charges are included in a statement that you can print out or e-mail or e-fax over the Internet. This causes problems for customers who pay by invoice rather than by statement. Also, Intuit's Web product is pricier than the competing NetLedger, which also offers such optional features as payroll capabilities and online ordering for customers.
On the other hand, for its $15 monthly fee, QuickBooks for the Web supports multiple users, whereas NetLedger charges $5 per month per user.
QuickBooks for the Web is Intuit's decent, albeit unimpressive, first crack at a Web-based bookkeeping product. It may prove useful for professionals who frequently find themselves out of the office and for on-the-go owners of small service businesses.
Other businesses will find the product's limitations dissuasive and will want to wait for the next version or just stick with desktop products.
| Buying Information |
QuickBooks 2001 Handy electronic invoicing and payment options. Regular and Pro versions both cost $30 more than last year. Excellent bookkeeping choice for small businesses. List price: QuickBooks 2001 $150, upgrade $90; QuickBooks Pro 2001 $250, upgrade $170. Intuit 800/446-8848 http://www.quickbooks.com |
| Buying Information |
QuickBooks for the Web Access your books from any Internet connection. No invoices; lack of inventory tracking makes this most suitable for service businesses. Interesting option for service professionals on the move. Street price: $15 per month (includes up to 50 faxes). Intuit 800/446-8848 http://www.quickbooks.com |