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Reasons why Quickbooks Won’t Force Accountants out of Business

Accounting world is abuzz with rumors that Quickbooks, the most popular accounting software from Intuit, will ultimately drive accountants and bookkeepers out of business. These rumors stem from a belief that Quickbooks support will soon introduce its bookkeeping service.

Support to merely answer queries of customers

There has been a strong opinion for some time that using Quickbooks is difficult for small business owners. These owners rely upon services offered by accountants and bookkeepers despite using one or the other version of Quickbooks. If Intuit starts its own bookkeeping service, owners will not need services of professionals for their bookkeeping. As things turned out, it appears that this so called Quickbooks service is actually nothing more than customer support for those users who face difficulties in setting up and running the software. Online Quickbooks support is more in the form of answering queries and complaints of customers rather than providing them with bookkeeping services.

Quickbooks is not coming out with its bookkeeping service

Dispelling the fears of the professionals involved with bookkeeping, Intuit country leader Rich Preece said that the company has sought to change its DIY model of Quickbooks into a DIW model (Do it with me). This makes it clear that there is no intention of the company to perform bookkeeping for its customers. He says that he has worked as a CPA for more than a decade and seen that most small business owners who do bookkeeping on their own make lots of mistakes. Their books are in bad shape because they have nor formal training in accounting. These business owners, when they try to operate Quickbooks without any help and support, are bound to make mistake sin their books. They can be seen showing deposits as income whereas they are capital contribution. Another common mistake they make is mixing up their business finances with personal finances.

A vast majority of business owners do not take bookkeeping seriously. They see it is a formality to be completed just to satisfy the requirements of the authorities. If a business owner devotes time to bookkeeping because of fear of compulsion, he is bound to make mistakes and fails in keeping books accurately. It is better for him to hand over this responsibility to a professional and spend his time doing what he is really good at. In trying to maintain books on their own, they will waste a lot of their time asking questions and clearing their doubts. Professional accountant or bookkeeper can do the job for them more efficiently and also spare lots of time for them m that they can utilize to earn more money.

It is interesting to find that more than half of small businesses are forced to shut down within a year of their operation. One of the biggest reasons for their failure is their inability to maintain their books in order. The thing to realize is that whether you are using Quickbooks or not, it is important to take help from a professional for bookkeeping. Quickbooks tech support is of course there to solve the problems faced by business owners but this support is no way intended to work as a substitute for the services rendered by accountants and bookkeepers. 

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