Preset reports may be easily customized by level of detail and period. There are some restrictions in the inventory area since it does not update inventory quantifies for sales and purchases. QuickBooks can write payroll checks and track employment data but requires QuickPay, its companion package, to calculate earnings, withholding, bonuses etc. This is an excellent program for a service business or a company that does not require extensive inventory or job project data. It is a streamlined program designed for users with limited or no accounting knowledge.
Users select major functions and activities from a file cabinet button bar or a toolbar.
It provides a payroll feature that does not calculate payroll but will track all of the payroll and withholding information required to prepare quarterly and annual tax returns. A payroll module that calculates payroll and prints W-2s is available. The program allows for great flexibility in customizing reports by date or item. In addition, Profit graphically displays important business statistics including cash flows, inventory ratios, profitability, sales, and cost analysis. A limitation in program design requires posted transactions to be reversed if an error is made since they cannot be edited.