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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 company was founded in 1983 by Scott Cook and Tom Proulx in Palo Alto, California. [12] [13] [14] [15]Intuit was conceived by Scott Cook, whose prior work at Procter & Gamble helped him realize that personal computers would lend themselves towards replacements for paper-and-pencil based personal accounting. [16]
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In the US, an estimated 8–10% of in-store sales is returned whereas online sales may result in 25–40% returns. In Asia and Europe, less than 5 percent of purchases are returned. [ 5 ] US shoppers returned $396 billion worth of purchases in 2018 – brick-and-mortar and online, according to the National Retail Federation (NRF). [ 6 ]
You’ll see any statement credits — like reward redemptions or refunds — and payments deducted from your balance while purchases, interest charges, fees and cash advances get added to it.
The company has been subject of controversy over its political influence and deceptive business practices. Intuit, the maker of TurboTax, has engaged in a multi-million dollar lobbying campaign against the Internal Revenue Service (IRS) creating its own online system of tax filing like those that exist in most other wealthy countries.