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QuickBooks is an accounting software package developed and marketed by Intuit. First introduced in 1992, 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.
The following comparison of accounting software documents the various features and differences between different professional accounting software, personal and small enterprise software, medium-sized and large-sized enterprise software, and other accounting packages.
Example of General Ledger and purchase journal in a Belgian accounting program. Accounting software is a computer program that maintains account books on computers, including recording transactions and account balances.
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In 1985, while Proulx was one of three Intuit employees, Intuit became the first company to shrink-wrap floppy disks and manuals. [ citation needed ] This further revolutionized software development. [ citation needed ] By 1992, all major Intuit programs had a market share of 75% or more.
QFX is a proprietary variant of OFX used in Intuit's products. In Intuit products, OFX is used for Direct Connect and QFX for Web Connect. Direct Connect allows personal financial management software to connect directly to a bank OFX server, whereas in Web Connect, the user needs to log in and manually download a .qfx file and import it into Quicken.
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Although a general ledger appears to be fairly simple, in large or complex organizations or organizations with various subsidiaries, the general ledger can grow to be quite large and take several hours or days to audit or balance. In a manual or non-computerized system, the general ledger may be a large book.