What is QuickBooks?
QuickBooks is an accounting software package developed and marketed by Intuit.
QuickBooks is one of the most popular accounting software options for small businesses in 2023. Whether you want to move away from manual bookkeeping and spreadsheets or you need a better option compared to your current software, QuickBooks can be a good choice without burning a hole in the pocket.
Although QuickBooks is primarily an accounting software, it offers many other accounting solutions which make for a well-rounded accounting system.
Some of these functions are:
QuickBooks Payroll: Available as a self-service or full-service solution, it allows businesses to pay up to 50 employees via cheque or direct deposit. If you opt for a full-service package, your year-end W-2 tax forms for local, state and federal taxes are automatically calculated and filed.
QuickBooks Commerce: It brings all of your orders and inventory onto a central dashboard, giving you the real-time status of every order. QuickBooks Commerce is highly scalable and you can use it to quickly add new sales channels or build your B2B commerce platform and integrate with online marketplaces.
QuickBooks Online: You can keep your accounting data in the cloud, accessible from anywhere any time, using QuickBooks Online. This service also has invoicing capabilities.
QuickBooks Live: Using QuickBooks Live you can partner with an expert bookkeeper to help with all your bookkeeping needs.
QuickBooks Payments: QuickBooks payments allow you to generate pay enabled invoices, set up recurring invoices and get paid on the go digitally. Your customers can pay digitally using a method they want.
QuickBooks Time: Track billable hours for your employees or clients or projects using QuickBooks Time. The time you track is easy with QuickBooks Payroll as well as payments.
QuickBooks also integrates with other popular applications such as Microsoft Office Suite and Salesforce CRM. By integrating with these tools, businesses can streamline their operations while getting insights into their finances. As a comprehensive business solution for small businesses and entrepreneurs alike, QuickBooks provides an efficient way to manage accounts and finances.
With all of the functions QuickBooks has to offer it is clear why it is becoming more and more popular for small to medium business and stat-ups.
Advantages of Quickbooks Accounting Software
Still not sure if QuickBooks is right for you? Let’s take a look at 10 advantages QuickBooks has to offer:
1. Save Time
QuickBooks Bookkeeping allows you to manage your business finances quickly and efficiently without having to invest time in manual record-keeping. This can save you hours of work every week! In fact, business owners can save an average of 42 hours per month with QuickBooks. According to Intuit, over 98% of customers say that QuickBooks helps them run their business more efficiently.
2. Automated Data Entry
QuickBooks Bookkeeping offers automated data entry capabilities, allowing you to enter financial information quickly and accurately into the system with minimal manual input.
3. Accurate Reporting
With QuickBooks Bookkeeping Services, your financial reports will be more accurate and reliable than ever as it automatically reconciles transactions and tracks expenses.
4. Expense Tracking
Tracking your expenses is easier with QuickBooks Bookkeeping as it has features such as categorising expenses by type and tracking recurring payments for regular bills. QuickBooks has many reports available to analyse your bills and expenses. If you have a record of bills available, you can track upcoming payments easily to ensure timely payments of bills.
5. Real-Time Insights
QuickBooks Bookkeeping offers real-time insights into your financials, allowing you to make informed decisions quickly and accurately. You can track all pending invoices and avoid chasing payments at the last second.
6. Budgeting & Forecasting
With QuickBooks’s budgeting and forecasting capabilities, you can better plan and manage cash flow efficiently. QuickBooks offers customised data analysis helping you identify business trends
7. Tax Preparation
QuickBooks Bookkeeping makes tax preparation easier and more accurate as it automatically generates reports to help you complete your taxes easily. Even for payroll, which has a huge tax liability, taxes are calculated automatically every cycle.
8. Security & Compliance
Your data is safe with QuickBooks as it is designed to be secure and compliant with industry standards, protecting your information from unauthorised access or theft. QuickBooks online security is made even more secure by routine testing, including testing for penetration. This includes daily testing that is completed with a static automated analysis.
9. Multiple Users Support
Invite multiple team members to use QuickBooks Bookkeeping, so you can manage finances together and stay in sync.
10. Cloud Infrastructure
QuickBooks Bookkeeping is cloud-based, giving you timely access to your financial data from anywhere with an internet connection. This makes it easier than ever to manage your business finances on the go!
QuickBooks can help you track expenses, invoices, clients, and employees easily and quickly. If you are considering starting a business or already have a start-up, consider using QuickBooks bookkeeping to help you manage your finances. You may save time and money by using this affordable and easy-to-use software. When you are free of financial worries, you can focus on driving business growth and revenue.