Customer Reviews

QuickBooks Pro 2001

5 star:		(10)
4 star:		(3)
3 star:		(5)
2 star:		(3)
1 star:		(6)

 

 

In the quest to find a decent accounting solution for my sole-proprietorship (start-up), I tried and evaluated several trial versions of accounting software packages (QuickBooks Pro 2001, gnucash, gACC, MYOB, and Peachtree Accounting).

The good: Hands down, QuickBooks Pro is the easiest and most intuitive accounting package aimed at small businesses, on the market. I was able to setup the books, generate purchase orders, sales receipts, deposits, checks, with a minimum of effort. The only difficulty is figuring out the QuickBooks way of doing things, but once you do, things fly. I was surprised to find that it will even print out deposit slips (nice feature, especially if you take in a lot of checks).

The bad: Unfortunately it is also the most expensive software package in this class. Peachtree Accounting is about half the cost (but much more difficult to use [double-entry accounting]).

The ugly: Also, beware that the features included in this software package are a little misleading: Setting up payroll requires you to use their payroll update service ($). Setting up a "professional website" requires you to use their service ($). From the trial, I got the feeling that accepting credit cards also requires you to use an Intuit-affiliated merchant account ($?). I never went any further to investigate. Several "marketplace features" were discontinued.

Simply stated, QuickBooks is an intuitive, easy to use accounting solution for small businesses. However, I was disappointed in the QuickBooks Pro version, which charged a premium for features that either contained ongoing hidden charges, or are not likely to be used by most people. My advise: get QuickBooks 2001, not QuickBooks Pro.

I'm a sole practitioner CPA and maintain about 20 separate sets of clients' books in my office. Since both Intuit and Peachtree have "professional advisors programs" which aggressively solicit CPAs to shill for their software, I should also state that I'm in no way affiliated with either of them, nor any other software company (the fact that I must mention this demonstrates where the accounting profession is headed, but that's another story).

I realize that I'm swimming upstream here, but, in a word, I detest Quickbooks. My clients who use it routinely bring me sets of books which they have messed up so badly that I run up big fees unraveling their errors. The reason, in short, is that Quickbooks is not a legitimate double-entry self-balancing accounting package. I believe that it's merely a dressed-up, aggressively marketed version of Intuit's checkbook program, Quicken. Because of this, it's far too easy to make serious errors which the software will not detect. Just one example: A single push of a button will convert your books from cash basis to accrual basis. A client brought me his books which had a cash-basis balance sheet, an accrual-basis P&L, journals and ledgers which were some of both - and he had no idea why nothing balanced (if you don't know what I'm talking about, that's all the more reason to avoid this software)! I keep a current version of Quickbooks on my computer ONLY as an accommodation to my clients who refuse to switch.

Both Intuit and Peachtree have rotten tech support. Both gouge their customers mercilessly for annual payroll updates. Nevertheless, I do my best to get my clients to start with, or to switch to, Peachtree. It's by no means a perfect solution, but it's at least a "real" double-entry system, therefore much more idiot-proof, more powerful, and generally bug-free. The learning curves of the two programs are now roughly equal, since Peachtree has added an optional interface for non-accountants.

Finally, I'm not bashing the company, just this product. I've been using Intuit's professional tax return preparation software (ProSeries) for many years, and I'm completely satisfied with it. But my bottom-line professional opinion here is that Quickbooks is simply not what it claims to be. Use Peachtree, use MYOB, use ACCPAC Simply Accounting - any of which are preferable to this over-hyped and under-powered dog of an accounting program.

We have about a $2 million service company with a little of everything and I have to tell you I love this product. I am not fooled by what it is and what it is not. I am sure if your business is complex you need to be somewhere else, but for small businesses that do not have exotic needs this package works ...period. I am constantly amazed by the features. Yes it is a fancy check book, but cash flow is where the information action is for smaller companies with out a lot of assets to worry about. Very nice invoicing, pretty good inventory if you have any (we don't). When I reconcile the check book we are never off by a penny, I like that.

Don't think you are buying a system suited for GM or IBM or any complex asset intensive or complex billing type company. But for many of us out there with money in and money out it is great.

I used Quickbooks 2000 for my family's home remodeling business for a while. I am now using the new 2001 version for my new business idea.

We were able to save a ton of time just by printing out checks and automating the payroll process. I also learned a ton about basic accounting and financial management after using the program for a while.

Just make sure that you accountant has Quickbooks Pro 2001 before upgrading, otherwise, they will not be able to analyze your files on their own computer!

Excellent for Small Business - Intuit kept slightly improving it every year. The only draw back...You will have to buy the new version every year to receive these slight improvement and upgrade. I strongly beleive that this is a rip off.

Don't buy it every year unless you have to. Buy it every 2 years. Intuit got us trap !

While QB 2001 has it's good points, I have seen better products.
There are 3 things that I have a real problem with.
1. The reports, other than the financials, are very poor. Forget about getting a list of customers with addresses that you have invoiced. It can't be done. Or if it can, I haven't found it after several hours of trying.
2. Run all options before downloading an update. I downloaded an update before running my first 940 report and then got system errors. The only help I have gotten is to reload the software, but horror stories on the message board concerning the loss of use of the database after reinstalling after an update have convinced me I can live without that report. I guess I could pay the exorbitant support fees to fix a software bug, but I'd rather do the report manually. I hope my W2's work.
3. If you only have a couple employees, don't get this to do your payroll. You will get charged $129 annually (minimum) for tax changes you don't need every 45 days, and there is no way to get them annually. Very disappointing.

The new QuickBooks Pro 2001 software offers some great new enhancements and features that you will not find in any other Business Software. The Design of the program itself is not only the most user friendly accounting software out in the market but it is also the easiest to customize and makes sure that it meets any business need. This program will save you not only time, but most important it will save you a lot of money. There are two new features that really stood out to me when I started using this program. One is the ability to use Microsoft Outlook where you can e-mail a direct and professional invoice from the program! First you go to create and customize an invoice to send to a customer, then there is a tab on the screen that reads "send to." An e-mail will pop up where you type the reciepient's e-mail address in. Below that, you will find your invoice. The customer will even have the option to click on a link to pay their bill( online billing service). The best thing about this feature is that the invoice is NOT sent as an attachment!! The online bill payment feature is an optional connected service that is handled from an Outsources named Pay Pal. Pay Pal guarantees that you will get payed faster and also keep you up to date with your account information. The internet is the wave of the future and QuickBooks Pro 2001 makes sure that it prepares your business to make that big jump to online services which are more convenient for any business owner. To make this review short this program is a definite FIVE STAR program and I recommend anyone who runs a business to invest in this great software you will get your money's worth. Dick Stephens, CPA and also a QuickBooks Certified Professional Advisor.

This program seemed to be an excellent accounting system for my small business. I bought it, had an employee install it and just as we had all our business info transferred:our office computer crashed and burned. I attempted to reload on another computer and continue business as usual. QuickBooks pro 2001 reloaded on the new computer but since it had already been registered it stops after 15 uses. The company informs me that each unit is for 1 user and 1 computer. I have no idea how well the system works but if your computer dies Pro 2001 dies with it!!

I have been using QuickBooks Pro for quite some time. I just upgraded to Pro 2001 and it is really a different look. My discontent with Intuit is that now, instead of sending tax updates to you for upgrades, they are forcing you to download. What if you have no internet connection? I am an independant accountant doing bookkeeping and payroll for 2 client. Pro 99 does the job quite well. However, if you upgrade, be prepared to get an EIN number. You CANNOT down load the payroll data, or even sign up for the basic payroll service without that EIN. I spent over 2 hours online, with my cell phone, trying to get it to take my SS number. It will not take anything but an EIN. Now, I have to uninstall this mess, package it up and return it to... and start over with Peachtree. Intuit does not tell you this prior to purchase. I have no employees, and will not get a number just to satisfy Intuit. Peachtree however, lets you DL tax tables with just a password from them.So I am changing to Peachtree, and Intuit can go get their money from someone else. I feel very discriminated against by Intuit, for being a small independant, with no employees, and no EIN. Also, if you are using any of the old versions of QB, they are going to stop the CD tax table distribution, and force you to use the "new" DL system with an EIN, at a considerable annual cost I might add.

Esprit Accounting Maui, Hawaii

In general I approve of Quickbooks. We have Pro 2001 in the office. There are many nice features in the software, and for the price I think they can't be beat.

Beware, though, of hidden costs! I have to say I was very disappointed by unexpected costs to us. For one thing, the only reason we upgraded from QB Pro 6.0 was so that we could print the "Statement of Cash Flow" report. (...) After upgrading, I discovered that there is a mandatory payroll service update--basically tax information to allow you to correctly figure payroll. (...). They do not really allow you the option of updating when you want--you are required to use their service, and you have to do it over the internet. You put in a credit card that will automatically be charged every year (no option for a one-time charge).

After upgrading, there was a report that no longer worked that we use to do estimated tax payments. I was very surprised and disappointed that Intuit changed their support options. (...)The report itself is still unavailable to us, but the support guy helped us to create a memorized transaction to accomplish basically the same thing. I fear that if I had stayed longer with him, we would have paid several hundred dollars, and who knows if it would have been resolved? (I should point out that I back up the database fanatically, because we have had several problems with corruption in the past. I am a computer programmer, and I sense that there are some problems with the way their database is programmed).

I am frustrated that Intuit would charge a reasonable price for the software to our small business to lure us in, then charge support costs that only larger companies can afford. There was no initial free support for purchasing the software. They do state that if the problem is because of a bug in the software that you do not have to pay. In reality, though, they made us give them credit card information before they would discuss the problem. It is ultimately to their discretion to decide not to charge you at the end. I suspect, though, that this is rarely if ever the case, as my problem appeared to be a bug (the report was running fine before the upgrade). I read another review here and someone else apparently had the same problem.

The saddest thing, though, is that for our size, the software itself seems to be the best thing out there. Our hands are tied.