Running and operating a small business can bring many rewards and challenges. One of those challenges is how to properly and accurately maintain your financial data and paperwork. That’s where accounting and bookkeeping software like QuickBooks for desktop and QuickBooks online come in. These programs offer simple yet powerful tools for effective financial management and good organization, which is simple enough to learn for everyone, even the non-accountants.
What is QuickBooks?
QuickBooks for desktop is a software you download to your computer while the online version can be accessed anywhere, anytime provided you have internet connection. Here are some of the functions you can do on QuickBooks:
- Create invoices and manage account receivables
- Manage bills and expenses
- Track income
- Pay bills and print checks
- Manage inventory
- Create budgets
- Pay employees
- Analyze your company’s performance
- Organize paperwork
- Maintain customer and vendor database all in one place
Why Use QuickBooks?
Save time on accounting and bookkeeping tasks. You can handle many simple or complex functions easily with QuickBooks. These include downloading transactions from the bank and quickly reconciling your accounts, invoicing customers or figuring out your profitability.
Track daily business operations. Knowing where daily sales are coming from or expenses going to is easily achieved with QuickBooks.
Know how your business is doing. QuickBooks software lets you quickly see the health of your company with already pre-templated internal graphs and reports.
Create custom reports. Prepare customized reports to get an in depth picture about specific areas of your operations.
Be more productive. You can customize how you work and access information on QuickBooks by inputting shortcuts.
Reduce costs. Companies who have a well-functioning accounting and bookkeeping system, typically spend less on accounting and tax preparation fees.
Who should use QuickBooks software?
QuickBooks has a plethora of solutions for anyone who needs to maintain their business’ books. If you are someone who manages the finances at a business or one of the following, you should consider purchasing a QuickBooks product that meets your needs.
- New business startups
- Self-employed consultants
- Sole Proprietors, corporation, partnerships
- Home owners associations
- Legal firms, real estate, contractors
- Professional service companies
- Accounting firms