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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.
Each account in the chart of accounts is typically assigned a name. Accounts may also be assigned a unique account number by which the account can be identified. Account numbers may be structured to suit the needs of an organization, such as digit/s representing a division of the company, a department, the type of account, etc.
The IIF file format, Intuit Interchange Format is a proprietary text file used by Intuit's Quickbooks software for importing and exporting lists and transactions. References [ edit ]
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.
Linking bank accounts is a way to make it easier to transact between the two.
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The general ledger should include the date, description and balance or total amount for each account. Because each bookkeeping entry debits one account and credits another account in an equal amount, the double-entry bookkeeping system helps ensure that the general ledger is always in balance, thus maintaining the accounting equation:
The ideas around account aggregation first emerged in the mid 1990s when banks started releasing Internet banking applications.. In the late 1990s services helped users to manage their money on the Internet (typical desktop alternatives include Microsoft Money, Intuit Quicken etc.) in an easy-to-use manner wherein they got functionalities like single password, one-click access to current ...