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For you business owners out there, what accounting software do you use and why? From what I hear, the two popular options are Simply Accounting or QuickBooks. If anyone has any experience with those two popular options, I'd like to hear your point of view.

Thanks!
 

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Hands down quickbooks. Its cheap, has easy interface & reporting, heavily customizable. Simply Accounting doesn't even come close (at least the last version I have used).

Accountants complain that Quickbooks does not provide the same level of audit trail as other software, since it allows you to delete and modify the original entry, but there are versions available with settings that allow this functionality.

I have not tested Quickbooks materials management, currency exchange, treasury functions, so perhaps others could elaborate on whether these are any good, but for basic small scale bookkeeping, you can't go wrong. I recommend to turn off all the extra features and windows and things, and just use the bare essentials.
 

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They don't have a Canadian Version which is essential for taxes and invoicing and another 10 things i can think of.

Now my Mac does run a Windows simulator but it is irritating and slow. I'd really rather not run an accounting program on it.
 

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Berubeland,

Quickbooks is not very memory intensive at all (again, I recommend to turn all the junk off and just use the barebones program). When you think about it, there is really not all that much activity going on in the program to slow down your computer. Just viewing reports, mostly.

You can tinker with the invoicing layout quite a bit, and with regard to taxes, you should be able to configure the US version to charge taxes, but you won't be able to break out multiple components of tax, i.e. GST/PST (which should now be OK if you are in Ontario because of the coming change to HST).

I have been using SAP for a long time now, but I remember the good old days of Quickbooks fondly and even bought a version for home use (though I am falling far behind in keeping it up to date).
 

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also, do any of these softwares run on cloud? meaning if the entries are being done remotely, i want to be able to monitor it from home.
 

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also, do any of these softwares run on cloud? meaning if the entries are being done remotely, i want to be able to monitor it from home.
Quickbooks has online version, so Mac users should have no issues.
Main problem with quickbooks online right now is that it doesn't support payroll, and unfortunately intuit does have history of pulling new products off the shelf if it doesn't work for them.
 
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