In September 2005, QuickBooks had 74% of the market in the US. In May 2002 Intuit launched QuickBooks Enterprise Solutions for medium-sized businesses. Options now include versions for manufacturers, wholesalers, professional service firms, contractors, non-profit entities and retailers, in addition to one specifically designed for professional accounting firms who service multiple small business clients. By 2000, Intuit had developed Basic and Pro versions of the software and, in 2003, started offering industry-specific versions, with workflow processes and reports designed for each of these business types along with terminology associated with the trades. Intuit sought to bridge the gap with these accounting professionals, eventually providing full audit trail capabilities, double-entry accounting functions and increased functions. Professional accountants, however, were not satisfied with early versions of the system, citing poor security controls, such as no audit trail, as well as non-conformity with traditional accounting standards. It continues to command the vast majority of this market. As such, the software soon claimed up to 85 percent of the small business accounting software market. The software was popular among small business owners who had no formal accounting training. The Windows and Mac versions shared a different codebase that was based on In-House Accountant, which Intuit had acquired. The initial release of QuickBooks was the DOS version that was based on the Quicken codebase. The initial Quicken software did not function as a 'double-entry' accounting package. After the success of Quicken for individual financial management, the company developed similar services for small business owners. Intuit was founded in 1983 by Scott Cook and Tom Proulx in Mountain View, California, USA. QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions. QuickBooks is an accounting software package developed and marketed by Intuit. I looked at four apps for managing your business invoicing and finances: Cognito Software’s MoneyWorks Gold, The Acclivity Group’s AccountEdge Pro, Intuit’s QuickBooks for Mac. WikiHow's Content Management Team carefully monitors the work from our editorial staff to ensure that each article is backed by trusted research and meets our high quality standards. This article was co-authored by our trained team of editors and researchers who validated it for accuracy and comprehensiveness. Built for Mac OS – Looks and works like you’d expect Create invoices, pay bills, and manage expenses Gain insight into your business with over 100 reports. Organize your finances all in one place, track money going in and out of your business, and spot areas where you can save. QuickBooks helps you manage your business easily and efficiently.
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