QuickBooks Accounting Software: An Applied Business Research Report

This report investigates the effectiveness of QuickBooks in accounting firms, focusing on its impact on productivity and financial reporting. It addresses the challenges faced by client organizations like ABC Financial Services Pty Ltd in handling Online QuickBooks Intuit, including the need for skilled employees and knowledge gaps. The research outlines the benefits of computerized accounting systems over manual systems, highlighting features such as improved speed, accuracy, and report generation. It also discusses the importance of accounting software in achieving company objectives and provides an overview of QuickBooks' unique features, emphasizing its role as a management tool for managing income, bank accounts, and financial data. The report concludes by stressing the significance of understanding and implementing QuickBooks to enhance business operations and financial management.

Running Head: Business Research 1
Applied Business Research
Effectiveness of Computerized Accounting System: QuickBooks

Business Research 2
Executive Summary
The role of the computerized accounting has been developing day by day as it helps in increasing
the productivity of the business. It is evaluated that in the past years, Intuit Quick Book
discharged another factors to its Turbo Tax Clients that linked them with a good keeper. The
organization performs under an "Outline for Delight" activity. The main role of this activity is to
develop profound client sympathy and exploring number of choices prior determining. The client
organization is facing some challenges regarding the QuickBooks context as it is unable to
handle Online QuickBooks Intuit in which they require high skilled employees and lack of
knowledge about handling the systems. The resolution technique is given in the research in order
to amplify the importance of it.

Business Research 3
Contents
Effectiveness of Computerized Accounting System: QuickBooks..............................................1
Executive Summary.........................................................................................................................2
Introduction to the research.............................................................................................................4
Research problem and Research Objectives....................................................................................5
Theoretical background and literature review.................................................................................7
Research Design and Methodology...............................................................................................11
Research approach.....................................................................................................................13
Data type....................................................................................................................................13
Justify the sample.......................................................................................................................14
Data analysis..............................................................................................................................14
Ethical consideration..................................................................................................................15
Conclusion.....................................................................................................................................15
References......................................................................................................................................17

Business Research 4
Introduction to the research
The progression in information technology has ultimately escorted to the foreword of
computerized accounting systems in dislocation of manual accounting system in corporate
reporting to aid create applicable and loyal agent financial reports for both organization and
outside users for decision making. Computerized accounting has many benefits that lead the
organization in the path of the success that is why it is considered as the engine of the growth
(Rogers, 2016). It permits users to input vital information in the accounting software program
and it helps to run the accounting software in more speed in comparison to the manual
accounting system. There are various accounting software packages such as QuickBooks and
Sage 50 Accounting which come as built-in databases that permit users to input data. The manual
accounting system can lead the business into many errors as it is prone to mathematical errors
and misplace numbers. With the help of the computerized accounting system, the data of the
company can be calculated in an automatic manner on the basis of the numbers of input data.
Manual accounting system does not provide the facility to prepare the data regarding the
financial statement of the company in an accurate manner as there can be more chance of error in
the balance sheet and statement of owner's equity. Computerized accounting systems permit
financial statements to be shaped from information maintained in the record. With respect to the
computerized software system, Collins, (2014), stated that computerized accounting system is
considered as the method which helps out to record, summarize, manage, organize and interpret
financial information on business transactions which communicate to stakeholders with the help
of the computers and computer-based systems like accounting packages. It has been found that
this system is a mechanized process of developing financial information inflows along with the
automation of the accounting jobs like report generation and database recording.

Business Research 5
Overview of Client Organization
There is a company that is a considerable authority in Mortgage Advising and giving home
loans. ABC Financial Services Pty Ltd is the company that is endorsing and authorized by the
Mortgage and Finance Association of Australia (MFAA). This company is enlisted matter with
the Australian Securities and Investment Commission (ASIC). ABC Financial currently holds the
Australian Credit License. The managing director of the company is motivated towards attaining
the goals of the company in an appropriate manner and he is excited regarding acquiring the
credit for the customers. The company is doing its best in getting a good position in the market in
order to become an established and well-known company.
Problem encompassed in research
QuickBooks is accounting software that is both user-friendly and sophisticated and it is required
for the business of accounting to know more about its effectiveness so that they can implement
QuickBooks in their operating system in order to accomplish the target of the company without
any error. It helps in saving time by providing various shortcuts so that the company can
implement an effective process with an ample of productivity. The major concern is to make
aware accounting firms regarding the accounting software so that they can implement their task
in a more productive manner without stuck.
Outline the structure
The main purpose of this research is to develop better understanding about the accounting
software so that the possibility of errors while making a financial statement can be eliminated.
This research will elaborate on the research objectives and research problem which would be
helpful in elaborating an entire research at one glance. The review of the literature will be

Business Research 6
critically reviewed by taking the help of various authors’ books and journals so that different
perception on the same topic can be understood. Methodology and research design will be
helpful in determining the way of collecting data in a more efficient manner.
Research problem and Research Objectives
Research Problems
The key issue in the manual accounting system is that dealing out of customer information takes
a very long time to resolve. Along with that, it has been analyzed that this takes huge labor cost
with respect to the salaries and its related cost. There are various customers who waste their time
in joining long queues for completing their banking activities in which errors of commissions
and omissions are usually prone in the bank. There are many problems which are associated with
the manual accounting system. The client organization is facing some challenges regarding the
QuickBooks context as it is unable to handle Online QuickBooks Intuit in which they require
high skilled employees. Lack of IT Specialist can become the major reason to handle computer
hardware and software programs. It has been found that the accounting software of QuickBooks
is time-consuming as users need to attain seminar and training program on a regular basis.
However, according to Giaoutzi, Storey and Nijkamp, (2016), there are certain benefits as well
with its in which ledgers can be reviewed in the easiest way and it becomes easy for the
accountant to make changes in the file if required. In contradictory, Fordham and Hamilton,
(2017), argued that the computerized packages have the ability to generate all kinds of reports
required by the management for example budget analysis and variance analysis. It helps in
handling various tasks related to the financial management which meets the managers need for
timely information for making a decision in the context of the company norms. Merlo,

Business Research 7
Eisingerich, Auh and Levstek, (2018), assented to the swiftness with which accounting is done
in which the role of the quick books is huge in retrieving the income statement, balance
statement or other vital accounting report at any moment. However, there is a problem linked
with the application of computerized accounting system in an organization, in respect of the
dislodgment of labor hands in the department of the accounting and its effective implication and
the issue of low turnover and profitability in ABC Limited.
Objectives of the research
The major objective of this research is to identify the importance of accounting software in
accounting firms in order to attain the objectives of the company in a more significant manner.
The research will provide in general view regarding QuickBooks system and the use of it’s in the
system in order to increase the productivity of the business. The objectives of this research are
mentioned below:
 To investigate the use of accounting software .i.e. Quick books in accounting firms.
 To find out the consequence of manual accounting system and computerized accounting
system on the profit margin of ABC Limited.
 To elaborate on the Unique Feature of this software.
Theoretical background and literature review
There are many organizations that have started their business and run their operation through a
progression of the accounting system. They generally start with a manual system then move to a
mixed paper and computerized spreadsheets and after that execute a simple computerized
system. It has been supported by Slovak and Stehr, LexisNexis A div of reed elsevier Inc,
(2017), that accounting form should keep accurate accounting records which are an integral

Business Research 8
component of any organization. Along with that, it is necessary for funding bodies to keep afloat
financially. The accounting system is considered as the art of recognizing, classifying and
recording in a specific manner the financial transactions of an organization for decision making.
There are various organizations and various business entities that use some kinds of
computerized budgeting system in which they do not have a significant amount of method of
accounting. In such case, the role of the computerized budgeting system is significant in business
entities that allow managers to develop budgets for specific departments and generates reports
and budgets (Pfeifer and Pfeifer, 2017).
It has been found that the computerised method of accounting recognizes external assets and
accounts due. Accounting method can be established number of expenses that are linked to
individual departments (Pulakanam and Suraweera, 2010). It has been found that this kind of
standard computerised budgeting systems and computerized accounting systems have a number
of obstacles or negative factors. It is not necessary that all systems of the organization
specifically well customer-made to pursue internal resource usage. The main objective of the
accounting function in the company is to develop the financial information regarding the
activities of the company and make financial statements for the accounting period. It has been
found that the latest method of accounting relies on the system made by an Italian monk
FraLucaPacioli. It is the system which is developed over 500 years ago and this is an efficient
system which is well designed (Nagel, and Otterbein, Qvinci Software, 2015).
There are some benefits of computerized accounting system in which the place of sound
accounting and internal control systems in any business cannot be overemphasized. According to
Giaoutzi, Storey and Nijkamp, (2016), there is the facility in the computerized packages which
can hastily develop all kinds of reports required by management. Shields and Shelleman, (2011),

Business Research 9
argued that there are some demerits of computerized accounting system that is related to the
violation of privacy, impact on the environment, impact on the labor force, health risks and the
public safety. In the context of the health risks, it has been found that improper computers can
lead to disorders of the hands, neck, back and eyes. It is required to sit in proper posture at the
time of working on the computer. With respect to the violation of privacy, it has been found that
every life event is stored in a computer in which the personal, as well as professional or
confidential information, is kept in the computer which can be stolen due to carelessness.
According to Pecchiar, (2012), QuickBooks is one of the effective tools that manage the business
in an efficient manner. It has been evaluated that QuickBooks is not the robust program of
accountancy, it is a management tool. It allows managing income, bank accounts and inventory,
fixed assets, billable time, payrolls, loans and bank accounts in the company. Along with that, it
gives the depth information about the system in which it is essential to make good business
decisions. It has been found that it is the software that facilitates small business to run their
business in a more efficient way without struggling regarding the credits and debits of
accounting entries (Amahalu, Abiahu, and Chinyere, 2017). It is required for the management of
the company to have proper knowledge about the structure of this software to navigate in the
system to do tasks (Lai, 2008).
However, there are various kinds of accounting software in which ABC Limited company use
online QuickBooks for their daily accounting activities. The feature of this accounting software
is advanced as it helps in maintaining the records of financial of the company in a more efficient
manner. A huge range of financial information, as well as data, are created and edited with the
help of this software. QuickBooks bring accuracy as well as the security of the information
constants to be vital (Dodgson, 2018). The most beneficial factor with this package is that it

Business Research 10
keeps up the accounts of the business over paper ledgers which are huge. The use of accounting
software allows the company to provide simple use, ready data search replication of records and
secure storage. QuickBooks is one in every of the leading ample exploited small business
accounting software package programs. The main feature with this accounting software is that it
helps in preparing of their monetary records at one place so that the social control as well as
monetary accounting activities of the business can be centralized (Mullan, 2014).
It is required for the client organization to keep focus on the manpower in order to handle Online
QuickBooks Intuit. The role of the IT Specialist is huge as they help in managing the computer
hardware and software programs (Davis, Ramamoorti and Krull Jr, 2017). There are various
issues entailed within the accounting software that is why it is needed for the management of the
company to focus on such issues and hire require manpower to handle the software in more
significant manner. With respect to the effectiveness of accounting software, it has been
analyzed that the role of its huge in managing accounting. According to Ricchetti and Clark,
Intellitech Corp, (2015), QuickBooks tool is suitable for small business due to the comparatively
low price that helps to record transactions for record keeping. It has been found that the
transactions exemplified matters such as sales, collections, payments and many more. These
kinds of activities provide statistics to come up with accounting information in order to
manipulate the organization. Along with that, it has been found that it has the feasibility of using
in which it is helpful to use by a straightforward user to advanced user. The package of quick
tools is easy with basic information which will be operated by everyone with little training
(Blinnikka and Horowitz, Excalibur IP LLC, 2018). However, IT Specialists are required for
managing the entire system of this tool because a little mistake can mess the whole work which
put negative impact over the business. QuickBooks double-entry step-up accounting base and

Business Research 11
word square calculate rather more punctually clutched by users with some experience to book-
keeping, though it can even be worn as simply as money way of book-keeping if that's all that's
needed. As per Steckel, (2011), business can easily plan and manage the entire business with the
help of the QuickBooks that permits managers to without extended study reports on clients and
assets, financial statements and lists of bills and liabilities. Numerous meeting of these reports is
very crucial to miniature commercial enterprise management because of the fact that permits
small commercial business proprietor to monitor and acquire well timed feedback in order to
develop a lot of timely interventions (Jaime, 2012). The main advantageous factor with this tool
is that it generates the report in easiest way which offers customers with the flexibility to study
the business by giving an explanation of the revenues, assets, liability and fairness accounts. In
the context of the accuracy, the role of this tool is huge in improving the accuracy as it coaches
and consults the activities that all users will include the small print of everyday transactions in an
effective manner. Even though, it would not be possible every time for the management to know
different kinds of ideas and procedures in QuickBooks.
Research Design and Methodology
The methodology is an important process for the research as it helps in evaluating the various
aspects regarding the topic. The discussion will be made under this section regarding the chosen
tools and techniques for accumulating the data. Research design, approach, data collection
method, sampling strategy, data analysis, and ethical considerations are entailed under this

Business Research 12
section in order to increase the better understanding of the research towards collecting the data
for the research topic.
Research Type
The role of the research design keeps huge importance in the research methodology as it
facilitates the researcher to design the research. Research design encompasses three designs such
as descriptive, exploratory and causal. Exploratory research design represents an initial stage of
the research in which the researcher gets huge knowledge about the concerns of the research with
the help of the developed hypothesis. On the other hand, descriptive research design has the
feature of gaining in depth information and knowledge about the problems of the research (Haiza
Muhammad Zawawi and Hoque, 2010) . Casual research can be used in the research in order to
gain a better understanding.
On the other hand the main focus of the casual research on the reason and effect bonding
between variables. It is the research which will entail the combination of the exploratory and
descriptive research design for the purpose of increasing the knowledge regarding the selected
topic. Exploratory research design will help in collecting the depth data about the importance of
the quick books in the accounting firms. In the context of descriptive design, it is found that it
has a significant role in collecting the views of participation as well as their perception in order
to meet the objectives and responses of the research questions. The casual research design is not
taking into consideration because that much information is not needed for this research to
develop the relationship between various variables.