Key New Features in Quickbooks 2008
It's now easier to share your data with your accountant in QuickBooks. Businesses can email an Accountant's Copy of the data file from inside the QuickBooks software. Previously, a client had to create the Accountant's Copy, save it to the hard disk, and then email the file. Now, clients upload the data file to the Intuit servers, and Intuit sends an email to the accountant with a link to download the file. While this streamlined process makes it easier for businesses to share their data, I have reservations about how secure the file sharing service works. The service uses Intuit's Quickbase workgroup collaboration servers, with URLs that point to the file location. As a security measure, QuickBooks prompts the user to create a strong password for the Accountant's Copy to prevent accidental hacking of the data file.Intuit offers an add-on service called Time Tracker that allows users to track the amount of time spent on various projects. Time Tracker uses this data to generate time sheets for payroll and expenses for billing. With the 2008 version, Time Tracker can be synchronized with Microsoft's Outlook and Outlook Express email software. In fact, users can send emails and attachments right from QuickBooks if they are using Outlook or Outlook Express. Previously, users would need to save a report or data file, and then switch over to their email program to compose a note and attach the data file. Since I use QuickBooks to manage all my client contact information, I'm starting to think I should switch back to Outlook to take advantage of the cross-software integration.
What I Really Like in Quickbooks 2008
Perhaps it's just me, but the 2008 version of Quickbooks seems to have fixed an annoying little problem with the memorized accounts feature. First introduced in the 2007 version, QuickBooks will remember that a particular vendor (say the US Postal Service) is associated with a particular expense account (such as Postage and Delivery) after you enter the same payee and account three times. However, the 2007 version seems to "forget" this association after awhile. At least that's been my experience. Using the 2008 version for a month now, the memorized accounts feature works smoothly, and I have not encountered any glitches so far.The help screen now docks to the side of the monitor, instead of dominating and obscuring the QuickBooks interface. This is, by now, a standard design feature for help screeens, and it makes it much easier for me to see the help information off to the side while completing the task in QuickBooks.
I do like how Intuit has made creating and sending the Accountant's Copy of the data easier, although I still have some concerns over how secure the file sharing is. Normally, I save files on a thumb-drive so I have physical possession of the data. Perhaps this is a little too paranoid, but I take financial privacy very seriously. One suggestion is for Intuit to allow accountants to set up an ultra-secure client space on their Quickbase servers and provide security audit reports showing all attempts to access shared data files.
What I Think is Unneccesary in QuickBooks 2008
QuickBooks is a terrific accounting program. About that I have no doubts whatsoever. But sometimes I wonder if Intuit adds features to the software just for the sake of having more features. I am referring to a range of marketing and Web-enabled features such as Google Maps and Directions, WebListings, Google AdWords, and integration with the Google Desktop search utility. The Google Maps and Direction feature is the most useful of all the Web features. From the Customer Center or Vendor Center, I can click on links just below the address to view a map or get directions. This makes it handy to see what part of town a client lives in, and to print out driving directions.Other features, however, I am not so sure that they belong in an accounting software package. WebListings, for example, enables a user to submit the name, address, and other contact information for the business to online directories such as Google Maps and Yahoo Local. Similarly, QuickBooks provides a link for users to sign up for Google AdWords, an online advertising service. Some small business owners may find these services useful, but these add-ons don't integrate with QuickBooks' core functionality as a financial accounting program.
My Recommendations
QuickBooks is a great accounting program for small and mid-size businesses. Companies with no previous accounting data might want to check out the free edition of QuickBooks Simple Start to get a feel for how accounting software works. Companies migrating from Quicken, Excel, or other accounting software will want to purchase QuickBooks Pro or Premier, since Simple Start does not have any import functionality.QuickBooks Pro is the software chosen most frequently by my clients, and is a good choice for most businesses.
QuickBooks Premier adds really useful functionality and reports for the following industries: manufacturing, non-profits, retail, contractors, wholesale distribution, accounting and professional services. QuickBooks Premier is highly recommended for businesses in those industries.
While the 2008 version of QuickBooks offers few productivity enhancements, I would recommend the software to business users who are using QuickBooks 2006 or earlier, for business users who would benefit from synchronization of contact information with Microsoft Outlook, to accountants and bookkeepers since we need to stay up to date with our clients, and to businesses who are looking for accounting software for the first time. If you are already using the 2007 version of QuickBooks, you don't absolutely need to upgrade just yet.
