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QuickBooks is the accounting software suite developed by Intuit. It performs on the operating systems like Microsoft Windows and Mac OS X. Quickbooks is available in versions for small business, accountants and enterprise solutions. It is one of the best selling accounting softwares and is used by over 4 million companies across the world. After being formed in 1983, Intuit focused on the development of the accounting software for small businesses. QuickBooks was the outcome of such efforts made by the company. Intuit acquired the rights of MoneyCounts, a double entry accounting software by Parsons Technology. It was renamed as QuickBooks and quickly gained popularity among small businesses. One of the reasons for its success is that the user didn't require any formal training in accounts. As per the claim of company, QuickBooks had the 85 percent of share of accounting software market. QuickBooks received criticism from professionals accountants for its lack of several features like good security controls, audit trails, and relevance with modern accounting system. Later on, Intuit entertained these grievances made by accountants regarding QuickBooks by introducing the features like audit trail capabilities, double entry accounting and other improvements. The developers launched it in two versions, Basic and Pro versions in 2000. In 2002, Intuit started to serve medium sized businesses through QuickBooks Enterprise Solutions. By 2005, QuickBooks was the dominant in the accounting software markets by gaining more than 70 percent. In 2008, according to the press release of Intuit, the QuickBooks ProAdvisor was being used by over 50,000 accountants, consultants and other professionals. QuickBooks has launched its many versions according to the accounting needs of many countries. For example, it supports various sales taxes of Canada while compatible to the VAT system of the Europe, UK and South Africa. Coming to the features of QuickBooks, its basic specifications are meant for several accounting operations like invoice, billing, transactions, payroll, inventory and banking. Its many services are web based and provide remote access. Intuit also operates QuickBooks Online which is subscription based service and Lacks some features of its desktop version.