Seems like the entire accounting world missed QBD and HATEs QBO?

Exploring the Possibility of a New Accounting Software: QBD vs QBO

Hello, I’m Ben. I understand that software questions like this have been asked countless times and often fall flat. However, I’ve been a software developer for the last five years and have grown exceptionally bored with the corporate grind.

So, here’s a thought: What if I designed a desktop Accounting Software tailored just for you? Initially, I would focus on US-based companies, as I’m not familiar enough with international regulations.

Essential Features:

I’m trying to assess which features are non-negotiable for you:

General Ledger

Double Entry Accounting

Income Statements

Balance Sheets

Features You Want to Avoid:

No Cloud Dependency (strictly local)

No Subscription Fees (I dislike them too!)

Additional Input Needed:

I’d love your feedback on the following:

Which operating systems are you using?

What kind of pricing structure would you prefer?

If there’s enough interest, I promise to come up with a UI design within a week and potentially develop a prototype in a few weeks. Let me know your thoughts!

Hello Ben,

It’s great to hear about your enthusiasm for developing an Accounting Software alternative, especially one that caters to desktop users who might feel underserved by cloud-based solutions like QuickBooks Online (QBO). Here’s a more detailed overview of the features and considerations you might explore while creating this software, based on common preferences and requirements from the Accounting world:

Must-Have Features

General Ledger
Description: This is a core component where all financial transactions are recorded. It should support detailed entries and have the capability to generate trial balances.
Importance: High. It’s foundational for any Accounting system.
Double Entry Accounting
Description: Ensure that every transaction is recorded with both a debit and a credit, maintaining the accounting equation (Assets = Liabilities + Equity).
Importance: High. It’s a fundamental principle that accountants expect.
Income Statements
Description: Ability to generate periodic income statements to assess company profitability over time.
Importance: High. Critical for financial reporting and decision-making.
Balance Sheets
Description: Generate balance sheets to provide a snapshot of the company’s financial condition at a specific point in time.
Importance: High. Essential for conveying financial health to stakeholders.
Accounts Payable & Receivable
Description: Manage both invoices from vendors and bills owed to clients, track payments, and outstanding balances.
Importance: High. Crucial for cash flow management.
Tax Management
Description: Incorporate functionalities to handle state and federal taxes, including sales tax calculations if applicable.
Importance: Medium-High. While not everyone might need extensive tax features, they are important.
Budgeting and Forecasting Tools
Description: Allow users to create budgets and forecast future financial performance.
Importance: Medium. These features are increasingly important for planning and strategy.

Additional Features

User-Friendly Interface: Ensure the software is intuitive with a clean design to minimize the learning curve.
Customizable Reports: Provide versatile reporting options that users can tailor to fit their unique needs.
Multi-User Support: For medium to larger businesses, support for multiple users with varying permission levels is essential.
Audit Trail: Keep a detailed log of activities within the software for compliance and fraud prevention.

Things to Avoid

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One response

APAdmin

25 February 2025 at 7:28 PM
Hello Ben,

It’s great to hear about your enthusiasm for developing an Accounting Software alternative, especially one that caters to desktop users who might feel underserved by cloud-based solutions like QuickBooks Online (QBO). Here’s a more detailed overview of the features and considerations you might explore while creating this software, based on common preferences and requirements from the Accounting world:

Must-Have Features
1. General Ledger
2. Description: This is a core component where all financial transactions are recorded. It should support detailed entries and have the capability to generate trial balances.
3. Importance: High. It’s foundational for any Accounting system.
4. Double Entry Accounting
5. Description: Ensure that every transaction is recorded with both a debit and a credit, maintaining the accounting equation (Assets = Liabilities + Equity).
6. Importance: High. It’s a fundamental principle that accountants expect.
7. Income Statements
8. Description: Ability to generate periodic income statements to assess company profitability over time.
9. Importance: High. Critical for financial reporting and decision-making.
10. Balance Sheets
11. Description: Generate balance sheets to provide a snapshot of the company’s financial condition at a specific point in time.
12. Importance: High. Essential for conveying financial health to stakeholders.
13. Accounts Payable & Receivable
14. Description: Manage both invoices from vendors and bills owed to clients, track payments, and outstanding balances.
15. Importance: High. Crucial for cash flow management.
16. Tax Management
17. Description: Incorporate functionalities to handle state and federal taxes, including sales tax calculations if applicable.
18. Importance: Medium-High. While not everyone might need extensive tax features, they are important.
19. Budgeting and Forecasting Tools
20. Description: Allow users to create budgets and forecast future financial performance.
21. Importance: Medium. These features are increasingly important for planning and strategy.
Additional Features
- User-Friendly Interface: Ensure the software is intuitive with a clean design to minimize the learning curve.
- Customizable Reports: Provide versatile reporting options that users can tailor to fit their unique needs.
- Multi-User Support: For medium to larger businesses, support for multiple users with varying permission levels is essential.
- Audit Trail: Keep a detailed log of activities within the software for compliance and fraud prevention.
Things to Avoid

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