A brief history of QuickBook accounting software

Over the years, QuickBook software has become practically synonymous with online accounting software. Initially released in the early 1980s, this software has become extremely popular with small business owners and accountants.

QuickBooks was launched by Scott Cook and Tom Proulx, the founders of Intuit, shortly after Quicken’s great success. The then new program was originally designed to offer an accounting system for small business owners who had little or no accounting experience.

Shortly after its launch, QuickBooks captured approximately 80% of the small business accounting software market. The company still enjoys having the largest market share in this fiercely competitive market.

Because professional accountants were initially dissatisfied with early versions of the program, Intuit eventually closed that gap by providing double-entry accounting capabilities, comprehensive audit trail capabilities, and a host of other needs that professional accountants deemed necessary. So, starting in the year 2000, Intuit offered both a Basic and a Pro version of the software.

Then, in 2003, the company began offering versions of QuickBook that were specific to a number of different industries. These versions included reports and workflow processes that were industry specific. Intuit’s programs included any terminology associated with the various trades for which the software was designed.

So at the turn of the century, not only did professional accounting firms, those serving multiple clients in different small businesses, have the appropriate software, but it was also available to contractors, retailers, manufacturers, non-profit companies, firms of professional services. and wholesalers.

Because QuickBooks was so successful, a product targeting midsize businesses was launched in May 2002.

As of March 2008, the company controlled 94.2% of the retail units that were sold in the business accounting category. Currently, more than 50,000 independent business consultants, public accountants, and accountants are members of the QuickBooks ProAdvisor program.

The products continued to evolve. QuickBooks now includes electronic payment features, remote outsourcing and payroll assistance, remote access capabilities, mapping features, marketing options, online banking and reconciliation, as well as improved email functionality.

For 2008, you could import Excel spreadsheets with the software.

Currently, there are online versions of QuickBooks available that are compatible with Mozilla Firefox, Internet Explorer, and Safari for Mac. It can also be accessed via BlackBerry, iPhones, and Androids by using web applications. However, the online versions do not offer all the features that the desktop versions do. And some of the online features work differently than they do on the desktop versions.