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Hi, we have this event pops up very often,could you please suggest us best feasible solution to overcome the same

Event Id: 33
Source : SideBySide
Description: Activation context generation failed for "C:\Program Files
(x86)\Intuit\QuickBooks 2011\qbmapi64.exe". Dependent Assembly
Microsoft.VC80.MFC,processorArchitecture="amd64",publicKeyToken="1fc8b3b9a1e18e3b",type="win32",vers
ion="8.0.50608.0"
could not be found. Please use sxstrace.exe for detailed diagnosis.

I notice that you seem to be having the problem on a 64 bit machine. 

Often, there are issues when running software on 64 bit machines.  This is an issue with shared libraries. 

Microsoft has a Knowledge-base article for such 'Side by side' issues

http://support.microsoft.com/kb/923014

Good luck
--Andrew