Offers Basic Bookkeeping Features Bookkeeping Features Are Basic and Limited

Offers basic bookkeeping features bookkeeping

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Offers Basic Bookkeeping Features Bookkeeping Features Are Basic and Limited Primarily Used for Project Management Cannot Handle All Bookkeeping Needs After careful analysis, the team recommends QuickBooks as the main financial and accounting platform for “Classic Gentleman” to implement into their business. Some key characteristics that led the team to recommend QuickBooks was the friendly user interface and the practicality of QuickBooks and its relationship in helping small businesses. NetSuite ERP and Sage Business Cloud Accounting are more useful platforms for “Classic Gentleman” to implement in the future when the business grows into a mid-sized venture. These two specialize 13
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in broader management features that will be helpful in larger sized ventures. However, at the current state of “Classic Gentleman,” the team concludes that the most useful and practical would be QuickBooks due to the current size of the business and the needs of the business. The team advises that the clients move onto NetSuite ERP and Sage Business Cloud Accounting once the business grows to a minimum of 100 employees. QuickBooks Versions QuickBooks, as stated earlier, would be the most suitable accounting platform for Classic Gentleman to implement into their business. However, QuickBooks offers a multitude of versions, products, and pricing depending on the needs of the business. The team will highlight the different plans offered by QuickBooks and recommend the most appropriate choice for Classic Gentleman to implement into their business. All the packages mentioned below are online versions. (QuickBooks, n.d.) Simple Start $10 per month Essentials $17 per month Plus $30 per month Advanced $60 per month Track income & expenses Capture & organize receipts Maximize tax deductions Invoice & accept payments Run basic reports Simple Start Plan Manage Bills Track Time Multiple Users (Up to 3) Essentials Plan Multiple Users (up to 5) Track Project Profitability Track Inventory Manage 1099 Contractors Plus Plan Multiple Users (Up to 25) Accelerated Invoicing Customer User Permissions Priority Circle Fathom 14
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Send estimates Track sales & sales tax Smart Reporting After reviewing the various QuickBooks plans, the team has concluded that the Plus package would be of the most benefit to the client. Not only does the Plus package include the Simple Start and Essentials packages, but it also has the option for the client to track profitability and manage 1099 contractors. The profitability tracker is essential to Classic Gentleman due to the fact that the company needs to know if each event or service is profitable. In addition to the profitability tracker, the client can use the 1099 contractor manager to help manage their 1099 contracts. As business grows and revenues increase, the next logical step would be for Classic Gentleman to upgrade their plan to the advanced package, allowing the owners to accelerate their invoicing and to have access to a multitude of other QuickBooks programs mentioned in the chart.
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  • Spring '17
  • Trisha Miller
  • Accounting software, Comparison of accounting software, Classic Gentleman

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