The QuickBooks family of accounting software is used by over 90% of small businesses in America. This brings up three questions:
1. Why is QuickBooks so popular?
2. Is it a good option for your interior design firm?
3. How do QuickBooks and DesignSmart work together?
Why is QuickBooks used by 90% of all small businesses?
– Because of its dominance, most accountants and bookkeepers know it and can support it
– It is segmented for different size businesses:
QuickBooks Online for startup and very small businesses
QuickBooks Pro for firms with basic accounting needs
QuickBooks Enterprise for large firms with inventories or advanced accounting needs
– It can be customized to work the way a design firm needs it to work and has excellent reporting capabilities
– It is the most cost-effective accounting software available
Is QuickBooks a good option for an interior design firm?
If an interior design firm were to only use QuickBooks alone they would probably find it unsuitable for their needs. For this reason, some design firms use Excel to create proposals and QuickBooks for their accounting. Or they use a project management system, but because they don’t like the system’s accounting features they also use QuickBooks. Whether they use Excel or a project management system, they are required to copy and paste data from one program into purchase orders and invoices in QuickBooks. It is a labor-intensive workflow that is prone to data getting out of sync. Some firms have determined that the advantages of QuickBooks warrant the effort while others have not.
How do QuickBooks and DesignSmart work together?
We developed our optional “QuickBooks Connector” module so that DesignSmart is tightly integrated with QuickBooks in order to eliminate double entry. When it is time to create purchase orders or invoices, all of the data from DesignSmart is “pushed” into QuickBooks electronically. New vendors that were added in DesignSmart are added to QuickBooks automatically. In fact, the flow of information between the two systems is bidirectional.
The benefits of DesignSmart and QuickBooks are:
1. Designers have a full-featured project management system in DesignSmart
2. Management has a full-featured accounting system in QuickBooks
3. Invoices, deposits and purchase orders are pushed electronically from DesignSmart to QuickBooks meaning:
1. No double entry
2. No transcription errors
3. No delays